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?

The 7 Trends Shaping The Future of the Logistics Industry

Cerasis

Logistics industry trends have also not been left behind in the move towards a more technological future. . 7 Major Trends Influencing the Logistics Industry in the Future . It is now the standard to go ‘international, ’ and logistic solution providers have a role to play in enabling this trend through a transportation network. . In the past, the logistics industry’s growth was driven by Asia to Europe and Asia to North America exports.

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Drone-Powered Digital Inventory

PINC

Even though 90% of inventory is stationary in the supply chain, according to industry experts, inventory accuracy at distribution centers, warehouses, and plants ranges from 89% to 99% *. That’s because most of the inventory management process is still a manual activity. innovation inventory robotics Logistics Viewpoints warehouse drones

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

Kinaxis

by Jeswin Philip The Food Packaging Trends and Advances report from PMMI forecasts that the US Food and Beverage industry will experience a 2.9 % CAGR through 2022. The report also mentions that the global growth rate is almost double that of the US food industry. As with any industry, food and beverage faces its own unique set of supply chain challenges, including: Expiring ingredients, manufactured product and packaged goods. What is vendor-managed inventory?

Lean Inventory: Using Lean Initiatives To Manage Inventory

Cerasis

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits. What is Lean Inventory Management? Over the years, the concept has been modified and applied to nearly all industries. Supply Chain lean inventory

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The Inventory Accuracy “Confidence Gap”

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: 5 Key Insights to Improve Inventory Performance for 2019 ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. And it begins with improving their inventory accuracy. The Inventory Accuracy “Confidence Gap”.

Update on the Automotive Industry

Logistics Trends and Insights

The automotive industry has undergone quite the transformation from the days of Henry Ford and the Model T. With that, the industry is facing a number of challenges ahead, including a shift toward electric cars, tech embracement, plant closures—and now recovery from the coronavirus outbreak for automakers with supply chains reliant on Chinese production. These consumer-driven changes will require the industry to restructure itself in terms of volume, scale, and complexity.

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. Data availability and advanced analytics are also shaping the industry by providing new insights into efficient manufacturing processes. Colin: How do inventory optimization (IO) and multi-echelon inventory optimization (MEIO) enable manufacturers to operate more efficiently?

How Machine Learning is Transforming Industrial Production

DELMIA Quintiq

The question that seems to get asked more often than not is to talk about how many industrial applications we can name for machine learning. In that way, machine learning transforms an industrial operation into a system of systems that can get products to market faster at a lower cost so the company that owns it can remain competitive in its market and keep their customers happy by delivering the products they want. Industry Week confirms these issues.

Use of Blockchain in Supply Chain & Logistics: Looking to Examples Across Industries for Better Understanding

Cerasis

Even JP Morgan, Microsoft, and Google, reports Jonathan Chester of Forbes , are working to increase blockchain development and innovation, and supply chain leaders need to understand how the use of blockchain in supply chain and logistics will bring about lasting change and improvements in efficiency. Blockchain is entering a phase of development that will affect every aspect of supply chain and logistics management, ranging from procurement to forward logistics and beyond.

Improving the Transportation Solve: Jointly Optimizing across Inventory and Transportation

Logistics Viewpoints

Food & Beverage Industry Inventory Management Logistics Outsourcing Supply Chain Optimization Transportation Management Systems inventory Mananged Transportation optimization TMSWhen a company is looking to reduce their freight spend, while maintaining or improving service levels, there are two main paths they can take. They can buy and implement a transportation management system (TMS).

Omni-Channel Logistics Leaders: The Importance of Real-Time Inventory Visibility

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: Top 5 Inventory Insights ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. Source: “Omni-Channel Logistics Leaders: Top 5 Inventory Insights,” Adelante SCM & LEGACY SCS.

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. Data availability and advanced analytics are also shaping the industry by providing new insights into efficient manufacturing processes. Colin: How do inventory optimization (IO) and multi-echelon inventory optimization (MEIO) enable manufacturers to operate more efficiently?

A Year Without Oktoberfest, Yet New Opportunities Exist in the Beer Industry

DELMIA Quintiq

The cancellation of this year’s Oktoberfest is another blow to a beleaguered beer industry that’s still reeling from the effects of the global health crisis.

Talking Logistics: PINC and project44 Partnership Commentary

PINC

PINC and project44 announced a partnership this week that “aims to empower industry-leading shippers and carriers with end to end real-time shipment visibility and yard management automation capabilities for an enhanced supply chain experience.” By Adrian Gonzalez.

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.

How the IoT Platform Fixes Problems in Today’s Logistics Industry

Cerasis

While logistics and manufacturing have grown exponentially, problems have become more complicated. Regardless of where you sit to view the logistics industry, problems are becoming more evident. Global Logistics Will Evolve With the IoT Platform. Twin private-sector and public-sector resources and use of the IoT, the value of the IoT platform grew to more than $8 trillion by 2014, reports the Cisco and DHL publication, the Internet of Things in Logistics.

Number-one Talking Logistics post of 2018!

PINC

In the very last days of 2018, we received a very flattering note from Adrian Gonzalez informing that our CEO's guest article landed the number-one position on the Top 10 Talking Logistics posts of 2018 ! If you are not familiar with Talking Logistics, it is an online video talk show and blog featuring industry expert Adrian Gonzalez interviewing Thought Leaders and Newsmakers in the supply chain and logistics industry.

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Digitalisation of Logistics Industry and its Impact

20Cube Logistics

With rapid growth in technology, the logistics industry across the globe is experiencing a paradigm shift with fast track development driven by unique innovation and sturdy growth in the evolution of technology. The new technologies are not only re-shaping the marketplace but also offering collaborative operation models for seamless logistics maneuver. Implementing technologies like IoT, data analytics, sensors and robotics is changing the complete roadmap of logistics.

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The Bionic Supply Chain: The human, robotics, drones inventory management workforce.

PINC

If you happen to be in the Toronto area or are planning to attend the Distribution Logistics Summit in the first week of November in Toronto, Canada, I would like to invite you to attend the panel titled The Bionic Supply Chain. According to industry experts, there are two primary well-known forces driving investments in technology in the supply chain and logistics industry: Customer demands and workforce shortage.

The Right Technology for Inventory Management

Logistics Viewpoints

Managing inventory in 2019 has become an even more complex challenge according to our industry peers and PINC customers. In my previous article titled “The High Cost of The One Percent Inventory Accuracy in Your Supply Chain“, I explored significant challenges, costs associated to inventory management, and what one percent of inventory accuracy represents to your operation. Guest Commentary Inventory Management

Supply Chain Leadership Driving Industry 4.0 & Resilience During Crisis – LogiSYM July 2020

The Logistics & Supply Chain Management Society

Lockdown of cities and manufacturing plants have significantly impacted many industries’ supply chains. Relying on our experience in the industry and academic field, it is worth to say that if everything is urgent, nothing is urgent! Industry 4.0. Industry 4.0

Taking a Holistic View on Inventory May Lead to Change in Strategy

Talking Logistics

Inventory optimization has always been a challenge while designing and planning a supply chain. A variety of barriers can impact an effective inventory strategy, such as working in functional silos and demand/supplier volatility¹. The good thing is that companies are beginning to appreciate the importance of inventory form and function instead of narrowing it down to just setting optimal safety stock targets. Asking the Right Inventory Questions.

Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. In his opinion the way you do that is “By putting inventory close to customers.

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?

The 9 Key Considerations of an Effective Last Mile Logistics Strategy

Cerasis

Understanding last mile logistics is only half the battle. Shippers need to reevaluate their existing last mile logistics processes and devise an effective last mile logistics strategy that aligns consumer and business expectation. In fact, an effective last mile logistics strategy must consider these nine key points. Planning Is Essential To Have an Effective Last Mile Logistics Strategy. Logistics

Airport logistics and the concurrent planning truth behind baggage handling

Kinaxis

As a self-identified traveler I am in love with airports and airport logistics. Airport Operations Management is an industry on its own that employs around 1.2 If not planned efficiently, it could cost the industry billions of dollars and create a high level of inconvenience for passengers. Just like any other industry, Airport Operations Management is improving with the help of technological innovations so that current challenges can be tackled. by Ilyas Kucukcay.

PINC’s Matt Yearling named Rock Star of the Supply Chain by Food Logistics magazine

PINC

UNION CITY, CA – April 6, 2020 — Food Logistics , the only publication exclusively dedicated to covering the movement of product through the global food supply chain, has named Matt Yearling, CEO of PINC to its 2020 Food Logistics Champions: Rock Stars of the Supply Chain award. From early pioneers and entrepreneurs to non-conformist thinkers and executive standouts, this award aims to honor these leaders and their contributions to our industry.

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Warehouse Management in the Retail Industry

Vinculum

WMSs guide inventory receiving, order processing, shipping and inventory replenishment. Significance of Warehouse Management Systems for the Retail Industry. Error-free & Efficient Inventory Management. A WMS is vital for error-free and efficient inventory management, optimizes the order fulfillment process and enables the warehouse management team with a holistic view of daily operations. A WMS helps track inventory across multiple warehouse locations.

Journey of Retail Industry during COVID-19 Outbreak

Vinculum

The retail industry, especially, is facing unprecedented vulnerabilities in its supply chain. Read on to find out how customers and the retail industry are dealing with the current situation. The Indian retail sector’s predominant problem lies with supply chain issues like logistics and transportation. The short-term effect on the retail industry is going to be grave as there will be a loss of major revenue.

Is Inventory Optimization a Key to Omnichannel Survival?

ToolsGroup

Industry analysts have pointed out an obvious fit with inventory optimization. If retailers optimize their inventory—dynamically aligning their supply chains to changing customer preferences and behavior—they can position inventory to satisfy demand at the lowest possible cost. These analytics flow to the software's multi-echelon inventory optimization component to place the inventory by location and SKU—favoring the DC location for predicted online demand.

Transforming the GCC Chemical Industry with Supply Chain Integration – LogiSYM September 2020

The Logistics & Supply Chain Management Society

The GCC chemical industry is second largest manufacturing industry in value add, after refining. 2017 Facts and Figures report by Gulf Petrochemicals and Chemicals Association (GPCA), the chemical industry accounts for 3.1 GPCA confirms GCC chemical industry’s key problem is ensuring a smooth flow of raw materials to reach production plants across the globe for finished good production.” But the chemical industry is still lagging in digitisation.

Transportation Trends: What’s Going on in the Trucking Industry?

PINC

A perennial top industry issue, the driver shortage ranked as the industry’s top concern for the second consecutive year in 2018, according to ATRI. Growing demand for truck transportation over the past year has exacerbated industry capacity constraints as carriers continue to struggle with recruiting and retaining a qualified truck driver workforce. expansion in the first quarter, which mostly was buoyed by lower imports and higher inventories< , JOC reports.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. Distributors will inbound to a manufacturer the inventory needed and transportation management, especially inbound freight management, efficiency is paramount to an effective vendor managed inventory model. We never ran out of or had too much inventory.