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How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. Colin: What are some of the global trends currently impacting demand modeling, supply chain planning, and supply variability? But that’s not the only shift in manufacturing. It then uses this model to understand the impact of demand forecasting on inventory.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. Colin: What are some of the global trends currently impacting demand modeling, supply chain planning, and supply variability? But that’s not the only shift in manufacturing. It then uses this model to understand the impact of demand forecasting on inventory.

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Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. Inventory Management is about having a right balance of expectations from different functions of the supply chain. Inventory Management is a function that should always be in sync with your supply chain strategy and in turn depends on your overall business strategy. What does it mean for inventory?

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Unfortunately, this includes all possible processes, data collection points, and inbound to manufacturing areas.

11 Inventory Management Best Practices

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Management Best Practices article originally published by, and permission to publish here provided by, Dave Joseph at veridian.info. Supply chain leaders are continuously looking for ways to improve inventory management, and the role of technology in the supply chain offers significant advantages. Use ABC Analysis to Categorize Your Inventory. Recognize the Relationship Between Sales and Inventory.

Transforming the manufacturing supply chain with MEIO

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft’s Bill Moffett and I collaborated on an introductory blog on MEIO for manufacturing businesses. On a much larger scale, manufacturers can forfeit working capital by keeping large amounts of inventory on hand to help satisfy wide-ranging customer demand. Successfully managing inventory is increasingly difficult.

Global Supply Chain Recovery Dependent On A Vaccine

Supply Chain Shaman

The global economy rebound from COVID-19 hinges on the discovery and manufacture of an effective vaccine. However, supply chain leaders well understand that drug discovery, manufacturing, and distribution are all necessary to deliver the vaccine to a willing arm. The companies are just not good at managing inventories and orchestrating distribution strategies. Rethink Manufacturing. Localize supply—design inventory strategies to include buffer strategies.

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Five Things I Have Learned About Global Supply Chain Planning

Supply Chain Shaman

Regional supply chain companies are attempting to define global requirements. They are well versed in requirements for regional supply chain planning, but they are attempting to redefine their processes and be more global. Initially companies believe regional planning systems easily adapt to become global, but they quickly learn otherwise and hit roadblocks. Five Lessons in Building Global Planning Organizations.

How Artificial Intelligence and Global Economic Factors Affect Inventory Optimization

ThroughPut

Through the targeted use of Artificial Intelligence (AI), Machine Learning and other technologies, leading global innovators are constantly trying to enhance the effectiveness of their inventory management. What one can’t ignore, however, is all the external factors that also directly, and indirectly, affect inventory processes.

Manufacturing ERP Plays a Key Role for Sustainability

QAD

While consumer products manufacturers previously led the way for sustainable manufacturing practices, a growing number of manufacturers in other sectors are treating sustainability as an important operational objective to increase global competitiveness. The Sustainability Movement in Business and Manufacturing. Today, manufacturers view sustainability as a required corporate strategy for long-term business viability and success.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

The Growing Reliance on Traceability in Manufacturing Supply Chains

IQMS

Bottom Line: The heightened priority on health & safety is leading to a renaissance of traceability in manufacturing across many industry sectors as every business strives to keep its employees, customers, and suppliers safe. Reliance on Traceability in Manufacturing Is Growing.

Lean Manufacturing: Is it Really Worth It? 16 Big Benefits Say, “Yes.”

Cerasis

Customer expectations of reliable quality and rapid delivery forces today’s manufacturers to either shorten cycle times or lose business. There are multiple good models for lean manufacturing operations. Who Needs Lean Manufacturing? A company in need of lean manufacturing practices tends to be easy to identify, typically displaying multiple of the following symptoms of operational deficiency: Inventory amasses in buffer stocks. cuts inventory costs.

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Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic

PINC

The global pandemic has thrown manufacturers, distributors, and retailers into a mode that most have never experienced before. While safety is especially important now, it should be a key issue for logistics leaders at all times,” West continues. live/drop, type of inventory, type of equipment, load status, etc.). Major Beverage Manufacturing company. digital supply chain digital yard supply chain yard management system COVID-19 logistics yard management

6 Manufacturing Trends to Watch Out for in 2016

Cerasis

As we close the year of 2015, we want to take a look at some manufacturing trends for 2016. We look at 6 core areas that manufacturing companies will take a long look at as they gear up for a successful 2016. E-Commerce for Manufacturing. The Internet’s large-scale global penetration has spawned an increasingly large number of technology and web-savvy consumers, creating a huge opportunity for both industrial manufacturers and their end customers.

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31 Motivations for Reshoring Manufacturing & Updated Reshoring Stats

Cerasis

Many off-shore manufacturers have returned to the U.S., Those changes, along with high costs of transporting materials and finished goods to and from overseas locations, make the value of reshoring likely to become a compelling financial reality for many manufacturers. manufacturers hurried to produce off-shore, believing significant cost reductions and huge profits would follow. 70% of manufacturers indicate that volatile energy costs are a major concern.

Manufacturers bouncing back after COVID using low-code technology

TrackVia

The COVID-19 pandemic continues impacting manufacturers in an unprecedented way, globally hitting demand, supply, and workforce at the same time. The global manufacturing and supply chain ecosystems have been among the hardest-hit sectors by the COVID-19 pandemic.

The Top 5 Manufacturing Blogs of 2016 …So Far

Cerasis

We continue our series on the top 5 blogs in our 4 main categories ( Freight , Manufacturing , Logistics , and Supply Chain ). Our last post covered the Top 5 Logistics blogs of 2016. Today's post will cover the top 5 manufacturing blogs from 2016 so far. Top Manufacturing Blogs from the First Half of 2016 So Far. The manufacturing blogs category most top viewed blog posts from the first half of 2016 included several elements of manufacturing.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

The report also mentions that the global growth rate is almost double that of the US food industry. Among the many supply chain initiatives taking place today, vendor-managed inventory (VMI) has become an increasingly effective process and business model to help organizations share risk and information between vendors and customers — while benefitting from lower stockouts, reduced uncertainty and lower costs. craft going global in the alcoholic beverages industry).

The missing link in automotive contract manufacturing

DELMIA Quintiq

Fulfilling this multi-faceted demand has become a major challenge for car manufacturers, who have to deal not only with countless models and colors but also with an ever-increasing range of features and options. Volatile customer demand can be bridged by making use of contract manufacturers. Contract manufacturing (CM) is a feasible way to add capacity and flexibility without investing in new facilities. The addition of a contract manufacturer provokes uncertainty.

The Influence of IoT: How it’s Transforming Global Logistics

CH Robinson Transportfolio

The Influence of IoT: How it’s Transforming Global Logistics|Transportfolio. More specifically, it’s impacting the logistics world and global supply chains. Third parties, carriers, and drivers interact with the manufacturer, suppliers, DCs, retailers, and customers as products move. Companies can keep less inventory on hand and more in motion if their supply chain network can reflect accurate product locations and specifications.

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B between 2017 and 2025 with the global market reaching $4.6B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC. How Warehouse Inventory Management Software improves efficiency. in 2016 and is projected to attain a Compound Annual Growth Rate (CAGR) of 14.1%

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

What is Logistics Management Software? Logistics Management Software is one that helps drive the logistics function of an organization by managing the actual flow of materials, goods, and services from the point of origin to the point of consumption. From a manufacturing perspective, logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. Blog logistics management

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

What is Logistics Management Software? Logistics Management Software is one that helps drive the logistics function of an organization by managing the actual flow of materials, goods, and services from the point of origin to the point of consumption. From a manufacturing perspective, logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. Blog logistics management

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

What is Logistics Management Software? Logistics Management Software is one that helps drive the logistics function of an organization by managing the actual flow of materials, goods, and services from the point of origin to the point of consumption. From a manufacturing perspective, logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. Blog logistics management

ERP Sustains Manufacturing during COVID-19

IQMS

The COVID-19 pandemic has pushed manufacturers to rapidly shift gears, from addressing work-from-home policies to managing extreme swings in demand and uncertain supply chains. In the process, it has highlighted an aspect of manufacturing ERP that is not as visible in more normal times— business continuity. Never in the history of ERP have we seen it play a bigger role in the continuance of manufacturing operations around the world. All Posts Manufacturing Trends & News

The Journey to Global Supply Chain Visibility

Talking Logistics

Achieving global supply chain visibility is a journey that companies have been on for many years, but most haven’t reached that promised land yet. How do you translate global supply chain visibility into actual business benefits? Those are just some of the questions I discussed with Julian Duerschmidt, VP Global Supply Chain Optimization at GEODIS , in a recent episode of Talking Logistics. Defining Global Supply Chain Visibility.

Analytics in Distribution and Manufacturing Taking Center Stage

Cerasis

Part of this drive toward more interest in analytics in distribution and manufacturing comes from the ability of analytics to reduce inefficiencies dramatically and increase productivity in both physical and virtual sales environments. Furthermore, analytics are becoming more widely available through the cloud, and manufacturers and distributors of any size can reap significant benefits from implementing analytics in their operation, explains Eric Smith of Modern Distribution Management.

Supply Chain and Logistics Predictions for 2016

Talking Logistics

Google did not acquire a third-party logistics (3PL) company or a logistics software vendor. Making supply chain and logistics predictions is like throwing darts at a moving target. How will transportation, inventory, and sourcing policy decisions change in light of this cheap oil environment? Like oil prices, interest rates impact supply chain policies and decisions, especially with regards to inventory. The Case for Competing on Logistics Talent.

Global Animal Nutrition Company Crushes Service, Inventory Goals With QAD DynaSys

Supply Chain Brain

Challenge: A global manufacturer has been evolving from a logistics culture to global supply-chain culture. Due to fast-changing regulations and market expectations, the ability to anticipate customers’ requirements has become strategic. Now the entire supply chain must be ready to meet their needs

11 Inventory Management Best Practices & the Role of Technology

Veridian Solutions

Supply chain leaders are continuously looking for ways to improve inventory management, and the role of technology in the supply chain offers significant advantages. Instead of relying on traditional, outdated inventory management best practices, supply chain leaders should follow these 11 steps to leverage technology and improve inventory management at last. Use ABC Analysis to Categorize Your Inventory. Recognize the Relationship Between Sales and Inventory.

How Your Warehouse Can Navigate Costly Global Supply Chain Disruptions

OneSCM

With over 17,000 infections and more than 300 deaths, recent news about the outbreak of the coronavirus in China has grabbed attention from a global audience, including supply chain and logistics managers. Due to the virus, factories and logistics hubs at the epicenter in China’s Wuhan region have shut down and with it, many of the world’s largest intermediate manufactured product exporters are stalled.

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

At Flextronics in Milpitas, CA, judges from outside of the Flextronics organization also contribute to the nature of Flex’s global lean competition. LEAN, Supply Chain Optimization, Logistics, Warehouse and Cost Reduction Consultant. Twitter Google+ LinkedIn The post How to Sustain a Lean Culture in Manufacturing & Supply Chain appeared first on Transportation Management Company | Cerasis. Lean Manufacturing Supply Chain lean culture

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Improving Your Manufacturing Operations Using Warehouse Automation  

NC State SCRC

Ian is an expert on warehouse automation, and shares his insights on how you need to get started in thinking about technology and robotics in your warehouse or manufacturing operation. Sandwiched between warehouse and distribution center, manufacturing is where the value gets added. However, improvement opportunities abound and the right solutions can yield end-to-end improvements throughout the manufacturing enterprise. Improving Performance in Manufacturing.