How to Make Supply Chain Complexity Work to Your Advantage

ToolsGroup

With supply chain complexity increasing at an unprecedented rate, perhaps the biggest challenge for businesses is figuring out how to navigate this uncertainty to deliver service profitably. When you break it down, Jeff Bezos figured out how to do three seemingly contradictory things at once: deliver exceptional service levels, at the lowest cost possible, and manage complexity. Blog Inventory Optimization Supply Chain Planning Featured

How To 191

What is Vendor Managed Inventory? How to Make VMI Work

My Office Apps

What is Vendor Managed Inventory? How to Make VMI Work. Looking to streamline your supply chain and reduce inventory costs? You might want to look into Vendor-Managed Inventory (VMI). A VMI software might be the solution – as long as you know the best practices to make it work. Vendor Managed Inventory is a business arrangement where the vendor of a product takes responsibility for making sure the buyer has the agreed inventory.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Transportation Sourcing in an Omni-channel World

Talking Logistics

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. And, what are some of the key factors retailers need to consider when developing their transportation plans? Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing?

Regaining control: Inventory management best practices (Part four)

Kinaxis

by Richard Cushing In part one of my inventory management best practices series I argue that inventory cannot be managed until it is controlled, and present the notion our general willingness to apportion blame upon unreliable data from enterprise resource planning (ERP) systems is misplaced. Further investigation reveals that external forces—controllable forces—exert influence upon the system, skewing data to a point at which it becomes unreliable.

How to Get Started with Value-add Forecasting (Part 2)

Logility

So, the promise of using statistical algorithms, forecasting and predictive analytics is now added to the list of a company’s number one priorities. Here are a few steps that you will need to take to deploy your forecasts successfully. In far too many cases, forecasts are done as a fishing expedition where analysts run the data through predictive algorithms to see what “pops.” These types of models are doomed to fail. Take a data asset inventory.

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. So, the things that people don’t need on a day-to-day basis.”. Wheeler and Target have found “a huge demand change in how our guests interact with us.

How to interpret demand-sensing data

The Network Effect

Demand Sensing can import demand data on an hourly rather than a batch or daily basis, immediately sensing demand signal changes as compared to a detailed statistical demand pattern, and then evaluates the statistical significance of the change. Advanced statistical analytics identify and rapidly react to replenishment issues or sudden changes in customer demand. However take care not to misinterpret the data. Nic McPhee/Flickr.

Data 184

Sales, Inventory & Operations Planning – What It Is and How to Operate

USC Consulting Group

Sales, Inventory & Operations Planning (SIOP) is a dynamic process in which the company’s operating plan is updated on a regular monthly or more frequent basis. Sales, Inventory & Operations Planning is done on an aggregate or family level, and covers a sufficient span of time to make sure that the necessary resources will be available. To whom do we sell (markets, customers)? Objectives of Sales, Inventory & Operations Planning. Back to top ?.

Chinese New Year Shutdown 2020: How to Prepare

ShipBob

The upcoming Chinese New Year is on January 25, 2020, but the holiday shutdown can affect production times at China’s manufacturing companies for as long as two months as many workers travel back to rural villages to celebrate with friends and family. For those of us who rely on shipping and manufacturing businesses, the Chinese New Year shutdown is an event that we need to be aware of (and prepared for) in advance to avoid delays that could be catastrophic to our businesses.

How to Find Business Opportunities Amid the Coronavirus Supply Chain Crisis

ToolsGroup

A common reaction seems to be to close shop, hoard toilet paper and canned goods and expect the worst. During each crisis, some companies retreated and waited for a clear sign to return to normal; other companies were able to “win in the turns”, as Gartner puts it. Each has had their share of success because they were savvy enough to not retreat and hide. The opposite result happened to one of my former employers.

How To 152

How to Attain “Stage 4” Supply Chain Planning Maturity

ToolsGroup

Gartner has identified five stages of supply chain planning maturity and they say that 70-80% of companies plan to increase their supply chain planning (SCP) technology spend over the next two years to climb to the next level. In their recent report titled Carefully Assess Which Tools Are Right for Each Stage of Supply Chain Planning Maturity (20 October 2017, Tim Payne & Amber Salley), the analyst firm describes the right tools to get from one level to the next.

How to Manage Inventory in a Growing Business

EazyStock

Inventory Management, Business Growth & Expanding Product Portfolios. At EazyStock we talk to a lot of small- and mid-sized businesses (SMBs) who are struggling to effectively manage their inventory. Expanding product portfolios due to business growth and as customers demand more choice. Increased stock levels to ensure stock availability. In this three-part blog series we’re looking at each of these inventory management problems.

Resiliency of Your Supply Chain – And How to Improve it.

Adexa

Covid-19 has been a good lesson for most companies to bring to surface the vulnerability of their supply chains. In addition, companies face supply chain issues due to demand fluctuations, supply disruptions and transportation issues almost on a day to day basis.

Japan 52

Design, Operating and Situational Inventory Trade-Offs

ToolsGroup

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. Many companies struggle with decisions such as “How many days of sales or inventory turns per year should we target? or “How can we reduce inventory and improve our balance sheet?”.

The Best Way to Set Inventory Targets?

ToolsGroup

Source: Gartner, Cover Considerations—How to Optimize Retail and Consumer Product Inventory Targets, 2017. But I have to differ with the conclusions of a recent report, “ Cover Considerations — How to Optimize Retail and Consumer Product Inventory Targets.”. In his summation, he tells a story about a farm boy who runs to his father and says, "Pa, pa, the hired hand and sis are in the hay loft!

Is Poor Inventory Performance Holding You Back?

Kinaxis

by Alexa Cheater Our partner Celestica recently published the following article, ‘ Is your company being held hostage by poor inventory performance? ’ The authors, Anandhi Narayanan, Senior Manager, Advanced Customer Solutions, Charles Thomas, Director, IT Customer Solutions, Stacey Greene, Director of Inventory Optimization and Robert Rejano, Processes and Applications Advisor, all with Celestica, describe the critical steps needed to drive inventory performance improvements.

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

Today I will discuss how a company can sustain a lean culture once they have implemented lean practices in order to achieve continuous improvement. Your company has started the lean journey, but how do you sustain it? Let's first talk about first setting the stage, then give you practical practices and tactics to achieve a sustainable lean culture, and then provide core key performance indicators (KPIs) to track your progress. Lean is a challenge to implement.

Lean 182

How to Design a Successful Apparel Supply Chain

Logility

Planners need to contend with inconsistent consumer buying behavior, the need to satisfy multiple channels, complex sourcing options and proliferating “sub-seasons,” collections and assortments. These are just a few of the challenges apparel manufacturers and retailers must overcome to operate at peak performance and compete in today’s dynamic market. Here is a four-step approach to help you jumpstart your supply chain results.

Experts Discuss How to Streamline Global Supply Chain

Supply Chain Opz

Companies of all sizes have been capturing the value from Global Supply Chain to increase the economies of scale and scope for years. Due to the rapid change in global business environment, managers find it difficult to gain the edge over competitors. In this article, we will show you tips from worldwide experts that you can use to streamline your global supply chain operations. Keep it Simple : It’s important to not over complicate things.

Global 216

Expert Explains How to Improve Supply Chain Efficiency

Supply Chain Opz

Over the years, supply chain professionals have been trying to improve supply chain efficiency so they can gain an edge over the competitions. Companies seeking to further improve their supply chain efficiency will have to continue fighting their old foe – variability – albeit in a set of new clothes. One emerging way to combat demand variability is to locate (some) manufacturing closer to the customer.

How To 196

LTL to Intermodal Shipping: How to Find and Eliminate Freight Spend Black Swans

Cerasis

Black swans in the supply chain refer to unexpected, unusual disruptions within the supply chain, reports Melanie Nuce of Inbound Logistics. For example, a black swan event may include both the physical damage and ongoing disruption caused by a hurricane and subsequent bottlenecks, so shippers that know how to isolate the causes of poor visibility and areas that are likely to contribute to worsening of black swan events can effectively reduce their chances of coming to fruition.

How To Choose Transportation Mode In Logistics

Abivin

A company cannot function well without being able to ship products across the supply chain. It also allows companies to cross geographic lines between where products are produced and where they are consumed. In logistics, transportation can be defined as a function of planning, scheduling and controlling activities related to mode, vendor, and movement of inventory into and out of an organization. To simplify this method, take a postal organizations for example.

How To Start Your Brewery On The Path To Success

Unleashed

billion by 2024, according to Business Wire. Knocked back just 7% in sales volumes during the height of 2020 lockdowns, according to Unleashed Software’s own data, the beer industry overall has shown remarkable resilience – for somewhat obvious reasons – and appears likely to continue its expansion. We’ll also break down the specific details of what it takes to build and grow a successful craft brewery business. Areas to seek expert input.

How to Move from Gartner Stage 2 to Stage 3 Retailing

ToolsGroup

leaving money on the table due to poor inventory performance. But, he says, with the right strategic plan, a retailer can make the jump to stage 3 supply chain planning, and greater profitability, in just 12-18 months. In this blog we’ll explain why it’s important to move to stage 3 and three things you can do to execute a plan. Additionally, they invest in technologies that combine inputs from various internal sources into the forecast.

Retail 160

How to boost relationships between shippers and 3PLs

DELMIA Quintiq

This increases the urgency for 3PLs to leverage on the best market trends to increase logistics flexibility. This is due to the diversification in the production schemes of manufacturers. On the other hand, there is always the demand to deliver on the highest level of quality possible. So, a lot of manufacturers require 3PLs to agree to service levels that are challenging for large operations. How would that impact their current operations?

How To 205

Inventory Overflow “How-To” Guide for Shippers

FLEXE

Seasonal inventory peaks. Expanding to new markets. But that doesn’t mean you should have to source space and invest in long-term leases. Instead, with on-demand warehousing from FLEXE, you gain a network of vetted professional warehouse providers nationwide that have room for your inventory. We’ve put together a “how-to” guide for shippers interested in solving their inventory overflow challenges. . Product launches.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Source: Dictionary.com. During the year, I go to a lot of conferences. In the process, I get to hear the views of many thought leaders. As I sit on the back row, I hear platitudes (A number of concepts positioned at a high level without clarity on how to execute). How do they buy from you? What are you trying to accomplish through the execution of a customer segmentation strategy? Why does it matter to you? How will the policy be executed?

Experts Suggest How to Slash Supply Chain Risk Properly

Supply Chain Opz

To tackle risks timely, we invite experts to explain what strategy really works. Christopher Tang, Distinguished Professor, UCLA Anderson School and Editor-in-Chief of the INFORMS journal Manufacturing and Service Operations Management (M&SOM) As supply chains become more complex, companies find their supply chains more vulnerable to both foreseeable uncertainty risks and unforeseeable disruption risks. Clearly, redundancy (extra inventory, more suppliers, etc.)

How To 152

5 Tips to Improve Omnichannel Inventory Management

Unleashed

And that includes how we all shop. That’s a lot for any eCommerce business to keep up with. That includes the importance of robust inventory management to retail. Being able to get the correct products to your customers is fundamental to success. Ensuring you don’t fail at order fulfilment begins with understanding your inventory and supply chain. In an increasingly complex eCommerce world, keeping track of inventory is tricky.

Improving inventory management

EFT

Factory closures, blank sailings, massive cuts to air freight, reduced warehouse capacity and more have hit business-as-usual and often turned carefully calibrated chains on their head. A gap in knowledge and from distribution network to consumer. Inventory management, evolved.

How to Turn Your Supply Chain into an Innovation Engine | Guest Post from Erwin Hermins

Kinaxis

by Melissa Clow Our partner Celestica recently published the following article, ‘How to Turn Your Supply Chain into an Innovation Engine’. The author, Erwin Hermans, vice president of supply chain services, describes the areas to consider when turning your supply chain into an innovation engine: An Enabler for New Business Models. Tune the Supply Chain to the Demand. How to Take an Idea into Practice. Let’s look at how the old way of thinking can change.

Supply Chain Innovation: How to Build an Award-Winning Supply Chain

ToolsGroup

Source: Supply Chain Digest. What does it take to create an award-winning supply chain? The two companies’ shared similarities—bold initiatives, transformative supply chain changes, big results and innovative technology—help answer the question—How to build an award-winning supply chain. High-demand products and parts must be available immediately; lower-demand items need to be delivered the same day or next morning. Source: Lennox.

How to Adapt Your eCommerce Business to the Coronavirus Pandemic

Vinculum

Good news is that COVID-19 Vaccine Tests have begun implying, we’re all going to get through this soon. As a business owner, retail store owner, e-commerce brand owner, you need to address the COVID-19 Pandemic in a very smart way. So, what is your business going to do? Brand priorities include the product you’re selling, how you’re dealing with difficult times and more. Make donations of surplus resources to communities.

Video 40

How To Effectively Run A Distribution Business In Indonesia?

Abivin

Image Source) I. Therefore, distributors are important to manufacturers in expanding market and looking for new opportunities. Its missions are to create values and make positive differences with the distribution activities they engage, strengthen network and coverage to ensure principals product availability. They also provide accurate, complete and on time information and reporting relates to operational, market and competition. Image Source ) 2.

How to Build Better Supply Chain Finance Goals With Analytics

Turvo

Few events carry the notoriety of black swans, and the COVID-19 pandemic is the most unprecedented and disruptive event to affect supply chains in decades. Nothing comes close to the level of turmoil it has caused, and for supply chain leaders, the severe disruption, and changes to freight rates—not to mention limited capacity—contribute to more uncertainty. Everyone has access to some form of data, and every process generates more of it.