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Top 25 3PL warehousing companies in 2020 (by revenue)

6 River Systems

Third-party logistics companies ( 3PLs ) specialize in distribution, warehousing and fulfillment services. Today, there are many top 3PL warehousing companies that handle warehousing, fulfillment, logistics and distribution services for companies of all sizes. Møller Mærsk Group.

Driving Supply Chain Analytics User Adoption with Cross-Departmental Metrics

Logility

The obvious danger of this is that business rules and data governance often don’t exist from department to department or user to user, leaving an overall picture into the health of the business that is foggy because KPIs and metrics do not correlate across the organization. A key solution to this problem is to implement a centralized data warehouse for a single version of the truth.

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50 warehouse automation stats you should know

6 River Systems

Warehouse automation stats show that automation is making a big impact on warehouses and distribution centers. As technology awareness grows, more warehouses and DCs turn to automation to adapt to the changing landscape. Below, we’ve rounded up 50 compelling statistics to shed some light on the driving forces behind warehouse automation and the impact automation has on the industry. The number of private warehouses is growing. Warehouse Automation

Speed up your eCommerce Business with Inventory Management Software

Vinculum

Inventory management plays a vital role in building a sustainable, scalable and profitable eCommerce business. No matter how expert you are, how bigger or smaller your business may be, what products you sell, or who do you serve, lack in your inventory management can bring bigger challenges in your business success. Thus, inventory Management Software is really an essential tool for your business to gear itself up. What is Inventory Management System?

50 expert warehouse optimization tips and techniques

6 River Systems

Optimizing your warehouse means examining every corner of your infrastructure and every facet of your workflows and processes to identify and correct inefficiencies. Not only does warehouse optimization result in a healthier bottom line, but it also improves key warehouse metrics like accurate orders and on-time delivery. Of course, warehouse optimization isn’t something you do just once; it’s an ongoing process, and a complex one at that.

Common Sense Warehouse Performance Metrics for Supply Chain Benchmarking

Logistics Bureau

If you’ve heard about the opportunities and benefits that warehouse performance benchmarking can put within reach of your supply chain organisation, you might understandably be keen to get a benchmarking project under way. Whether comparing performance across your own warehouses and DCs, or benchmarking your warehouse network against external organisations, there are a number of performance elements that should be taken into account. Perfect Order Warehouse Performance.

Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

By contrast, the third-party logistics model is where a manufacturer retains oversight of its supply chain but outsources such processes as warehousing, shipping, packing, and distribution to a 3PL provider.

What is SKU? A complete guide to Stock Keeping Units

Unleashed

SKU codes are everywhere – built into sales and inventory management platforms, and broken down line-by-line in all sorts of inventory report. The process is sometimes also referred to as inventory optimisation, or product optimisation. Improve inventory forecast accuracy.

50 expert tips on improving warehouse efficiency & productivity

6 River Systems

Most warehouses are on an ongoing mission to maximize productivity by optimizing workflows, automating processes and reducing waste (both time and resources). Warehouses are complex operations with many moving parts and functions happening simultaneously, so while there are plenty of areas to improve productivity, it’s not always easy to determine where your efforts will pay off. More than 50% of your warehouse labor is in pick and pack, so start there.

Which Metrics Matter? Interview with Philippe Lambotte

Supply Chain Shaman

My journey to understand supply chain Metrics That Matter started three years ago. When I sat down to write the book, Bricks Matter, I believed that companies had used supply chain technologies to reduce operating margin and improve inventory turns. We are currently mapping the progress of all public manufacturing, distribution and retail companies on three factors: Strength: Year-over-year improvement on operating margin and inventory turns for the past six years.

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. To help you understand the importance of tracking this metric we’ll illustrate several ways the value of your stock can change. What is inventory revaluation?

50 expert warehouse order picking tips, strategies, and best practices

6 River Systems

The efficiency of order fulfillment from warehouses has become an important focus in logistics management as customers demand quicker deliveries. Warehouse order picking is an important factor in efficient order fulfillment. The modern warehouse is complex, and management must balance a number of factors including software, automation, training and processes such as receiving, picking and inventory management. Allocate storage space as inventory levels shift.

DC 40

Structuring Your Demand Planning Group to Make its Greatest Contribution

BlueYonder

Whether you are contemplating creating a demand planning group within your company, or questioning whether your current demand planning is as functional as possible, Part 2 of this 4-part series is aimed to help you navigate the hurdles of structuring your organization and its supported processes, so as to ensure your demand planning group is established and organized for its greatest chance of success. This can be overcome, however, with proper focus and metrics.

How to Calculate Inventory Turnover

Unleashed

Inventory management is a critical function of any business, with drastic implications on profit margins. Inventory turnover is a key formula that’s often discussed in the context of inventory management efficiency, and crops up in most types of inventory report.

7 Key Factors that Underpin the Success of your Inventory Optimization Initiative

Supply Chain Opz

From the most basic to the most advanced organization, Inventory Optimization is a critical goal and one which underpins the effectiveness of the supply chain operation. Inventory Optimization requires an organization to sustain and maintain the right mix of cost versus service. In this article we will examine inventory optimization processes as part of a structured sequential journey and examine seven of the key factors in delivering the optimal mix of stock.

Wanted: Supply Chain Architects!

Supply Chain Shaman

So when the warehouse team threatened to unionize, I transferred into a distribution, warehouse environment. I knew nothing about the world of logistics, inventory management and order optimization. Warehouse Management and Transportation Management were in their infancy. The focus in supply chain groups was not on how to design the operations so that they were more effective; instead it was about the use of best practices to maximize the value of what we had.

Best Practices & Tips to Maximize Warehouse Space

Veridian Solutions

Your warehouse is everything, and according to recent reports , available warehouse space is on the decline in the US. As companies have expanded to meet the demands of omnichannel consumers, warehouse space has become a commodity which comes at a premium. Warehouse leaders should follow these best practices to truly maximize warehouse space and avoid the costs of new construction entirely. A Guide to the Warehouse Metrics Supply Chain Execs Should Track.

Structuring Your Demand Planning Group to Make its Greatest Contribution – Part 2 of 4

BlueYonder

Whether you are contemplating creating a demand planning group within your company, or questioning whether your current demand planning is as functional as possible, Part 2 of this 4-part series is aimed to help you navigate the hurdles of structuring your organization and its supported processes, so as to ensure your demand planning group is established and organized for its greatest chance of success. This can be overcome, however, with proper focus and metrics.

Manufacturing Gains From Machine Learning

IQMS

Asset Management, Supply Chain Management, and Inventory Management are the hottest areas of artificial intelligence, machine learning and IoT adoption in manufacturing today. Kearney’s recent study of the future of production find that manufacturers are evaluating how combining emerging technologies including IoT, AI, and machine learning can improve asset tracking accuracy, supply chain visibility, and inventory optimization. PDF, no opt-in) 2017 Honeywell User’s Group.

Tips to Improve Warehouse Labor Management Efficiency

Veridian Solutions

Warehouse labor management efficiency metrics reveal how well your workers perform against their responsibilities. Labor costs account for 50-70% of the average warehouse budget, reports Logistics Management. Challenges Associated with Decreased Warehouse Labor Management Efficiency. Warehouse labor management efficiency is impacted by the style in which labor is managed. Consider these four scenarios that adversely affect warehouse labor management efficiency.

Lean 43

History Repeats Itself Without Supply Chain Leadership

Supply Chain Shaman

Tom, the colorful warehouse manager, constantly heckled Frank for the increasing inventory levels while Ed, the quiet material/logistics manager, constantly questioned if there was a better way. He felt that inventory was no problem, he would just cut it at the end of each quarter to make the balance sheet goals. Despite goals to improve agility and resiliency, functional metrics for manufacturing efficiency continually throw the supply chain out of balance.

Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

Groups throw-out concepts. When they built the project, they did not realize that they did not have access to daily data daily for their third-party warehouses and contract manufacturing locations. The focus is on functional metrics, but are unable to get to overall supply chain metrics. For example, only 29% of manufacturing companies can access total cost data and 31% struggle to see the impact of business decisions on inventory. We finished dinner.

Data 266

Aged Inventory Reports: What are they and how do they impact inventory control?

Unleashed

Aged inventory generally refers to inventory stock that has been held for longer than six months usually due to low consumption or slow sales. Aged inventory is not an overnight occurrence however, any surplus of inventory stock is both costing you money and restricting your cashflow. Aged inventory reports. The length of time inventory stock typically sits on the shelf or in the warehouse before being used or sold. Addressing aged inventory.

Supply Chain KPIs You’ll Want Every Morning

Logility

in inventory write-down and 20% drop in stock value. Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. Warehousing and transportation costs. Metrics.

What Omnichannel Supply Chain Analytics Should I Know?

Veridian Solutions

Supply chain leaders need to understand the challenges of applying omnichannel analytics, how they enable insight across supply chain functions, such as order fulfillment and inventory management, and how to apply them to achieve the greatest result. Additionally, warehouse managers and supply chain leaders may lack the resources to apply analytics. It is their implication for better demand forecasting, management of inventory placement, distribution strategies, and more.

This Week in Logistics News (March 4-8, 2019)

Talking Logistics

Back in July 2017, I interviewed Bennett Adelson, the former CEO of MacroPoint (which was later acquired by Descartes Systems Group, a Talking Logistics sponsor) about OTIF and how it is driving demand for visibility solutions. More stringent customer delivery requirements is certainly one factor, with On-Time In-Full (OTIF) becoming a more critical metric.

Business Strategies to Recover After the Coronavirus

Vinculum

Is your organization facing a shortage of essential supplies and inventory prompted by panic buying and stocking up of consumers? New financial metrics, receivables, and even the number of days the capital can last are important considerations that should be taken into account when formulating a new business model. The post Business Strategies to Recover After the Coronavirus appeared first on Vinculum Group.

How To Ensure Best Practice Use Of Your Business Intelligence Dashboards

Unleashed

This dashboard collects key financial health indicators from marketing activities and displays financial metrics to provide senior management and investors with performance results to help them determine future marketing spend. This dashboard can deliver sales metrics including costs, revenue, profits and incremental sales. Effective BI dashboard templates serve up a wealth of manufacturing metrics to help improve processes and eliminate inefficiencies.

50 expert tips on logistics planning and strategy

6 River Systems

“A centralized group can also help to resolve another common concern: it’s hard for an expert to have credibility across the company when he or she is remote and attached to a particular business unit. NetSuite has launched a supply chain snapshot feature that’s a central part of any control tower that shows all of your inventory and related transactions with the ability to filter by subsidiary, location, etc. Think about how your warehouse might look in 2030.

28 supply chain professionals share the biggest challenges of supply chain management

6 River Systems

All of the above (and other down-stream KPIs and processes) are heavily influenced by the accuracy of a demand forecast: if the demand forecast is much more accurate, a company is more likely to have the right product, in the right quantities in inventory and will have less of the products in inventory that is not required. Our supply chain involves a contract manufacturer, a third-party testing facility, warehouses to store inventory and a freighting company.

6 Benefits of Applying Useable Data in Logistics For Continuous Improvement

Cerasis

Overused and misunderstood in blog posts and informative articles, “big data” describes the use of data to improve your operation, which includes shipping, warehousing, and supply chain processes. Will an inaccurate picking result in one error for the original problem or two errors for sending an incorrect product and retaining the original, correct product in your inventory? Metrics and KPIs.

How Machine Learning Is Redefining Supply Chain Management

IQMS

Key factors influencing inventory levels, supplier quality, demand forecasting, procure-to-pay, order-to-cash, production planning, transportation management and more are becoming known for the first time. Gaining greater contextual intelligence using machine learning combined with related technologies across supply chain operations translates into lower inventory and operations costs and quicker response times to customers.

25 supply chain experts reveal the best tactics to optimize a supply chain

6 River Systems

From raw materials sourcing to warehouse operations , logistics technology , order fulfillment and beyond, there are dozens of points throughout the supply chain, all of which contribute to overall supply chain efficiency. Implementing warehouse and supply chain automation doesn’t make sense for every type of business; sometimes the human touch is imperative, but accurately assess how technology can improve your operations. Warehousing. Warehouse Operations

BASF: A Story of a Supply Chain Leader

Supply Chain Shaman

Over the period of 2009-2015 only 88% of companies made improvement on the “Supply Chain Metrics That Matter.” (The The Supply Chain Metrics That Matter are a portfolio of metrics which correlate to higher market capitalization. The composite of metrics includes growth, operating margin, inventory turns and Return on Invested Capital.) While most companies make improvements in single metrics, pushing the whole portfolio forward is tougher.

Supply Chain Diagnostic: A Four-Step Process

Supply Chain Shaman

To accomplish this goal, I ask a cross-functional group to audit the past year. As a group, we drill into root issues. Many times useful data exists in marketing or sales groups, but is not shared with the supply chain team. The company wanted to launch a digital strategy, but the digital supply chain team had never connected with the firm’s digital marketing team to understand how the two groups’ efforts could be intertwined. inventory turns.