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In the supply chain world, contract logistics – where a third-party logistics (3PL) firm runs and manages warehouses on behalf of their clients, is a $200 billion plus market. For example, in contract logistics, the 3PL makes use of a warehouse management system so that they can do the job efficiently. The right IT is critical.
Supplier problems will cause a cascade of problems up and down the value stream, leading to supply order delays that cause inventory shortages, production disruptions, missed shipments and lost revenue. Establishing real-time shared visibility and processes with supply chain partners facilitates identification and resolution of issues.
Alex Zhong, Director Product Marketing at GEP. GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization.
This article is from Chetan Chaudhari at GEP and examines the ongoing aluminum can shortage. The post Editor’s Choice: Aluminum Can Shortage Defines a New Normal for Food Packaging appeared first on Logistics Viewpoints. More smelters are expected to curtail operations leading to reduced supply in the market.
Other activities involve supplier segmentation, sharing material forecasts with suppliers, and coordinating logistics and operational scheduling. But can we also overuse the technology, and risk the possibility of ruining our brand if we use it for something we shouldnt.
A new study that the SCRC published with GEP examines the increasing pressure that supply chain executives are getting when it comes to responding to supply chain disruptions. The report was published in the last month, and reflects some of the increasing challenges and disparities that exist between procurement and supply chain executives.
That includes increased collaboration to handle load and product information, marketing campaign points, or import and export logistics. As reported by Matt Rickerby of Extensiv , “Inventory analytics are an essential part of any inventory management solution. How to Improve Your Multi-Location Inventory Management.”
A recent study by Harvard Business Review Analytic Services and GEP, reinforces this fact as more than 72% of companies believe their key supply chain capabilities including supply planning, demand planning, warehousing and logistics, procurement, and inventory management ought to be digitally immature.
It’s a form of supply chain digitization that ensures every element, from sourcing raw material inventory to product delivery, is coordinated and managed through a centralized platform. The need for more SKUs increases complexities in sourcing, procurement, inventory management, package tracking — the list goes on.
This is leading to an inventory pile-up of processors and memory chips used in PCs. And now on to this week’s logistics news: McDonald’s is testing a new drive-thru concept. Some retailers are learning to love bulked-up inventories. Want to learn more building resiliency without losing the benefits of just-in-time inventory?
And now on to this week’s logistics news. That assessment comes as a result of 10 months of subdued demand, inventory de-stocking, and high interest rates, the New Jersey-based company said in its “The GEP Global Supply Chain Volatility Index.” That index fell below zero in April to -0.04, from 0.32
That could signal even more added inventory exposures. A prior consensus of a belief that the second half of this year will present more normalcy continues to remain uncertain given a global inventory overhang being still evident and added signs that global wide product demand levels remain subdued.
Procurement and supply chain executives are on the “same team” – and in general, a recent study conducted by the SCRC and GEP suggests that there is strong alignment between the two functions when it comes to prioritizing lower risks and reducing uncertainty in supply chains.
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