Unleashed

APRIL 9, 2024

To measure how effective a company is at delivering complete orders on time, you can use the aptly named On Time in Full (OTIF) metric. This article explains what it is, how to measure and improve it, and how to improve your OTIF rate. OTIF vs OTD On Time Delivery (OTD) and OTIF are both order fulfilment metrics.

Vendor Strategies 52

Vendor Strategies Inventory Reduction Waste Reduction Cost Reduction Strategies 52

Logility

AUGUST 7, 2017

Often, it becomes necessary to reevaluate how supply chain performance is measured to ensure healthy operations. Ask yourself, “Are your supply chain metrics bogging you down?” However, companies often have too many independent metrics that can cause conflicts amongst competing supply chain functions.

Procurement Analytics 121

Procurement Analytics Metrics Gartner Supply Chain Planning Software 121

Unleashed

APRIL 29, 2024

Work in process (WIP) inventory is typically found in manufacturing environments where goods undergo various stages of processing before being sold or used. Tracking WIP inventory is important for monitoring production efficiency, identifying bottlenecks, and managing costs within the manufacturing process.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Inventory Expense Reduction 52

QAD

JULY 1, 2021

Total manufacturing costs showcase how much your company spent to produce its inventory in a given period of time. This is not to be confused with the cost of goods manufactured (COGM), which refers to just the cost of inventory that was finished and prepared for the sale in the period. Notice that it’s direct materials.

Manufacturing Procurement 87

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 87

Supply Chain Game Changer

AUGUST 16, 2022

In my experience companies always had a need for Inventory Control and an annual inventory count during which all operations were shut down for at least 2-3 days. On top of the annual inventory count there were ongoing manual cycle counts throughout the entire year. An Inventory Control History.

Inventory Reduction 124

Inventory Reduction Inventory Waste Reduction Resource Reduction 124

ModusLink Corporation

DECEMBER 13, 2022

Just-in-time inventory philosophies have fallen short and resulted in lost site supply for warehousing and distribution centers, and the post-COVID consumer is more conscious of their decisions. Let’s look at how supply chain parties can improve warehousing and distribution in global fulfillment and distribution in the coming year.

Inventory Reduction 78

Inventory Reduction Resource Reduction Waste Reduction Material Savings 78

Precoro

FEBRUARY 26, 2024

Examples include human resources or IT departments, manufacturing plants, or project teams. This also facilitates accountability, enabling managers to track expenditures, assess resource utilization, and evaluate performance against predefined targets. Cost centers can include discretionary and non-discretionary expenses.

Optimal Sourcing 105

Optimal Sourcing Cost Reduction Strategies Optimization Software Negotiating Skills 105

GlobalTranz

JULY 7, 2021

Among the services which they provide are transportation, warehousing, cross-docking, inventory management, packaging, and freight forwarding.”. Shippers that work with 4PLs like GlobalTranz can tap the resources of a 3PL while also taking advantage of managing multiple providers, as a lead logistics provider (LLP).

3PL 210

3PL Third Party Logistics Logistics Network Optimization Software How To 210

OptiProERP

APRIL 9, 2024

Integration with inventory management systems is crucial to accurately confirm product availability and delivery timelines. This stage involves scheduling resources, allocating the workforce, and coordinating tasks to fulfill the order efficiently. Production Planning Upon receiving an order, production planning kicks in.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Inventory Management Software 52

Silvon Software

APRIL 18, 2023

While clearly important in today’s constantly changing business environment, so many companies continue to struggle with how to measure and improve their performance – grappling with questions like: Which metrics really matter? How do we get buy-in around the organization? Each requires its own portfolio of metrics.

Inventory Reduction 64

Inventory Reduction Sourcing Strategies Resource Reduction Material Savings 64

Unleashed

OCTOBER 16, 2023

Raw material inventory management oversees the procurement, handling, and storage of raw materials. It ensures you maintain optimal raw materials inventory levels, and therefore plays a crucial role in optimising your manufacturing processes. In this guide: What is raw material inventory management?

Inventory Management Software 52

Inventory Management Software Material Savings Inventory Management Inventory Reduction 52

Supply Chain Shaman

FEBRUARY 1, 2024

Optimization engines to improve functional metric performance resulted in an exploding number of planners. Rolling up a perpetual inventory signal takes eleven hours. days to get a perpetual inventory signal and 2.2 What is the impact of the amplification and distortion on inventory and cost? On average, it takes 2.8

Supply Chain Planning Software 370

Supply Chain Planning Software Optimal Sourcing Manufacturing Procurement Waste Reduction 370

ShipBob

APRIL 15, 2024

That means you must see a sufficient return on your inventory investment. In other words, you need to make more money selling your inventory than you spent to acquire, store, and fulfill orders with it. That’s why you need to closely measure metrics such as gross margin return on investment (GMROI).

Inventory Reduction 52

Inventory Reduction Material Savings Price Reduction Cost Reduction Strategies 52

SCMDOJO

NOVEMBER 9, 2023

Understanding the most valuable inventory control techniques, along with utilizing inventory control template Excel, is essential if you want to ensure effective inventory management. The primary goal of inventory control is to reduce the costs associated with holding stock.

Inventory Reduction 81

Inventory Reduction Expense Reduction Cost Reduction Strategies Optimal Sourcing 81

Unleashed

FEBRUARY 23, 2023

This represents a major challenge to cash flow as companies have increasingly more money tied up in inventory stock, which in turn has affected their profitability. Below, we cover how to improve liquidity and free up cash flow using nine effective strategies. In this guide on how to improve liquidity: What is liquidity?

Inventory Reduction 52

Inventory Reduction Material Savings Expense Reduction Price Reduction 52

ShipBob

JANUARY 28, 2022

Proper inventory management can make or break ecommerce brands: Have too much stock and you’ll rack up storage costs and tie up cash flow. That’s why it’s crucial to track inventory management KPIs consistently. . What are KPIs & why are they important for your inventory management? Inventory KPIs.

Inventory Management Software 98

Inventory Management Software Inventory Management Inventory Reduction Inventory 98

Unleashed

JANUARY 14, 2024

Manufacturing inventory management is crucial to the success and profitability of your manufacturing operations. This guide for manufacturers explains how it works and explores the most effective ways to manage inventory in manufacturing.

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

SCMDOJO

DECEMBER 14, 2023

In supply chain management, total lead time is a crucial metric encompassing the period from customer order to delivery, be it in B2B or B2C scenarios. Production Lead Time: Beyond reducing carrying costs and inventory levels, an optimized production lead time empowers businesses to respond quickly to changes in market demand.

Inventory Reduction 78

Inventory Reduction Vendor Strategies Waste Reduction Cost Reduction Strategies 78

OptiProERP

JANUARY 17, 2024

While the overall trend is toward more integrated and flexible systems that can process voluminous amounts of data, yielding analytics and metrics for improved decision-making, a majority of manufacturers still have yet to commit to the newer, “smarter” technologies.

Analytics Software 52

Analytics Software Optimization Software Supply Chain Design Software Supply Chain Planning Software 52

Logistics Bureau

DECEMBER 20, 2021

As we are often asked about KPIs for inventory management , that’s what we’re going to focus on in this particular post. You will also understand their notable benefits to the inventory management discipline. 10 Invaluable KPIs to Track Inventory Management Performance. 1: Inventory Turns. million)/2 = 6.76.

Inventory Reduction 76

Inventory Reduction Inventory Forecasting Cost Reduction Strategies 76

Unleashed

AUGUST 20, 2023

Here we break down what lead time is, the types of lead times in supply chain management , the factors that affect lead time, and how to shorten lead times to provide a better customer experience. Lead time is a vital business metric that directly impacts customer satisfaction, workflow efficiency, and delivery time accuracy.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

Unleashed

JUNE 7, 2023

Inventory optimisation is the process that enables efficient inventory management. In this guide, we define inventory optimisation and offer a few actionable tips and strategies for getting it right every time. In this inventory optimisation guide: What is inventory optimisation?

Inventory Management Software 52

Inventory Management Software Forecasting Software Demand Planning Software Supply Chain Planning Software 52

BlueYonder

MAY 10, 2024

Environmental, Social, and Governance (ESG) regulations are driving sustainability investments with a focus on tracking, excess inventory and resource utilization. Retail Retailers will continue to rethink how to leverage their store base, making the store experience differentiated or else downsize as online sales continue to grow.

Vendor Strategies 95

Vendor Strategies Material Savings Resource Reduction Price Reduction 95

synchrono

MARCH 6, 2017

When we look at the organizations of today, words like efficiency and productivity get thrown around with little understanding of what is required to improve one of these measurements (metrics). In figure 1 below, the assumption on the B-D side is: A resource standing idle is a waste. Something is missing. The Efficiency Effect.

Metrics 82

Metrics Waste Reduction Resource Reduction Cost Reduction Strategies 82

Logility

JUNE 7, 2023

Top 3 Demand Forecasting Mistakes —How To Avoid Them with Demand planning software Demand forecasting is a critical facet of successful business operations, acting as the helm guiding companies through the rocks hiding beneath the water of market demands. Lost sales and revenue due to inadequate inventory of high-demand products.

Supply and Demand 130

Supply and Demand Demand Planning Software Forecasting Software Forecasting 130

Unleashed

NOVEMBER 2, 2023

Keep reading to learn what a production schedule is, how to create one, and the actionable tips that’ll help you maximise success and improve productivity in your production scheduling process. A production schedule helps significantly in reducing manufacturing costs and improving the efficiency of your manufacturing inventory management.

Manufacturing Procurement 52

Manufacturing Procurement Examples Sourcing Strategies Supply Chain Planning Software 52

SCMDOJO

JANUARY 23, 2023

List of Top 10 Supply Chain Analytics Books 1) Supply Chain Metrics that Matter (Wiley Corporate F&A) 1st Edition This book offers an in-depth guide to understanding the link between corporate financials and supply chain maturity, evaluating the progress of over a hundred companies from 2006-2013.

Prescriptive Analytics Software 122

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Predictive Analytics 122

Unleashed

FEBRUARY 28, 2021

Enterprise Resource Planning software. Enterprise resource planning (ERP) software integrates and manages all of a business’ key functions under one system, including supply chains, HR, accounting, sales, and customer relationship management (CRM). Here are three of the key options. Cloud-based software. A mobile sales app.

Supply Chain Planning Software 98

Supply Chain Planning Software Supply Chain Design Software Inventory Management Software Analytics Software 98

Kinaxis

JULY 23, 2015

by Andrew Dunbar This post concludes my inventory management blog series. Throughout this series I’ve proposed an elevated role for the inventory manager that challenges the assumption that an inventory manager is a victim of his colleagues’ business decisions and plays only a limited role in formulating inventory results.

Inventory Management Software 100

Inventory Management Software Inventory Management Inventory Supply Chain Planning Software 100

Precoro

JULY 16, 2023

Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost. The purchasing department plays a critical role in the success of an organization.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Supply Chain Shaman

SEPTEMBER 22, 2022

Instead, I find most are visibility projects without clarity on how to tie improved visibility to enterprise processes. So, if you are attempting to implement a control tower project, please don’t waste your money or resources. Using better math to build an inventory plan for raw materials is a good idea.

Supply Chain Planning Software 431

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Modeling 431

OptiProERP

MAY 18, 2023

Indirect procurement is essential for the smooth functioning of a company’s operations, as it ensures that the necessary resources are available to support the organization’s day-to-day activities. Clear and detailed specifications will help suppliers to understand what is required and how to meet the requirements.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

EazyStock

JANUARY 31, 2022

Inventory Management KPIs for Effective Inventory Analysis. Managing inventory is a complex business. Inventory management KPIs are important as they help analyze and track the performance of inventory management activities such as how stock is ordered, managed and turned. Inventory turnover ratio.

Inventory Management Software 52

Inventory Management Software Inventory Management Inventory Reduction Analysis 52

Supply Chain Shaman

MAY 3, 2015

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” Inventory is the culmination of many business decisions. Tracking Progress.

Inventory Reduction 150

Inventory Reduction Supply Chain Design Software Supply Chain Planning Software Inventory Management Software 150

SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. These functions include procurement, production planning, inventory management, logistics, and customer service. Analyze performance metrics and implement improvements to enhance efficiency.

Optimal Sourcing 77

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 77

Supply Chain Opz

MARCH 26, 2015

What is Inventory Control? Here we will try to answer most common questions about Inventory Control and also provide additional resources you can use. What is Inventory Control? Inventory control often starts with how to know the demand of particular product. How to Reduce Forecast Error?

Inventory Reduction 113

Inventory Reduction Inventory Forecasting Manufacturing Procurement 113

RFgen

APRIL 20, 2023

OVERVIEW: Overview of Mobile Inventory Solutions What Problems Does Mobile Inventory Solve? With the growing reliance on digital technologies and reliable data, Oracle Fusion Cloud SCM has emerged as a powerful platform, enabling organizations to optimize their inventory control practices.

Inventory Management Software 52

Inventory Management Software SCM Inventory Management Supply Chain Planning Software 52