Metrics that Matter: Inventory Effectiveness

QAD

It is critical to monitor inventory effectiveness using five key metrics: Expedited orders, inventory turns, obsolete inventory, safety stock and stockouts. Many organizations publish turns data by industry or SIC code to help gauge where you stand against others in your industry.

3 Core Metrics & 10 Soft Metrics for Measuring Supply Chain Performance

Cerasis

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. 10 Soft Metric Considerations in Measuring Supply Chain Performance. However, these technologies are poised to give benefits throughout the industry in several other ways as well.

Midstream Transportation Trends: The Future of Oil and Gas Industry

PLS Logistics

Despite the 2014 oil and gas price drop crisis and the rush around alternative fuel sources, the future of the oil and gas industry remains bright and has a steady pace of growth and increasing demand.

Trends 151

Supplier Quality Management: What it is, 5 Key Metrics to Know & a 4 Step Supplier Evaluation Process

Cerasis

The next posts in the series will break down metrics and issues to consider in SQM by industry and conclude with a case study on the application of SQM. 5 Key Metrics to Use for Scoring Supplier Quality Management (From LNS Research ). The definition of this metric is similar to the way it sounds. This is a critical metric in regulated industries such as medical devices, pharmaceutical, biotechnology, and food and beverages.

Removing the 3 Barriers to Building a Predictive Supply Chain

resources each year guessing important operational metrics such as booking allocations or. industry? $15-$20 industry-tailored machine learning, enterprises can finally make use of their. An analog approach in a digital world: While the shipping industry has.

Rating Sustainability Performance: An Essential Business Metric

EcoVadis

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric.

Data, Cognitive Technology, and Industry 4.0

Enterra Insights

There is continued buzz about Industry 4.0 — the nickname adopted for the ongoing fourth industrial revolution. Anant Kale ( @anantkale ), Co-Founder and CEO of AppZen, explains, “The first industrial revolution mechanized production using steam power, the second gave us the assembly line for mass production, and the third industrial revolution gave us advanced automation using IT and electronics. 1] One element of Industry 4.0

Data 100

Elephant in the Room: Thoughts on Metrics That Matter in Semiconductor and Hard Disk Drives

Kinaxis

Supply Chain Insights recently published a Metrics That Matter report covering both the Semiconductor and Hard Disk Drive (HDD) industries. That industry has already gone through consolidations. Semiconductor is poised to consolidate, which will have huge impact on the metrics.

Announcing the Supply Chains to Admire for 2019

Supply Chain Shaman

Smaller, more agile companies outperform the larger and well-known brands in the retail, beverages, food, and pharmaceutical industry sectors. Industry-by-industry, I compiled data for the period of 2010-2018. The source data for the analysis comes from Ycharts.).

Industry 4.0: The Emergence of Cognitive Manufacturing

Enterra Insights

Industry 4.0 is the popular name given to the fourth industrial revolution ushered in by the digital age. They write, “Industrial production was transformed by steam power in the nineteenth century, electricity in the early twentieth century, and automation in the 1970s.”[1] ” Some pundits believe Industry 4.0 is more evolutionary than revolutionary since computers were the foundation of the last revolution and remain the foundation of Industry 4.0.

Supply Chain Metrics: Make Sure They Are Aligned with Your Strategy!

Supply Chain View from the Field

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources.

Industry 4.0’s Potential Needs To Be Proven On The Shop Floor

IQMS

99% of mid-market manufacturing executives are familiar with Industry 4.0, yet only 5% are currently implementing or have implemented an Industry 4.0 Mid-market manufacturers getting the most value out of Industry 4.0 Demystifying Industry 4.0 Source: Industry 4.0:

Measuring Up?

Supply Chain Shaman

The first step in the journey is to analyze balance sheet results and understand industry trends. The supply chain is a complex system with finite, and non-linear relationships between supply chain metrics that drive balance sheet results. Analysis by Industry.

Manufacturing Gains From Machine Learning

IQMS

McKinsey also found that AI-enhanced predictive maintenance of industrial equipment will generate a 10% reduction in annual maintenance costs, up to a 20% downtime reduction and 25% reduction in inspection costs. Source: Digital Factories 2020: Shaping the future of manufacturing (48 pp.,

Why Financial Reengineering Does Not Equal Supply Chain Improvement

Supply Chain Shaman

Financial reengineering focuses on the optimization of short-term results that are usually based on a functional analysis of source, make, or deliver. Few consultants understand the interrelationships between source, make and deliver. Cash-to-cash is a compound metric.

Public Markets Reward Supply Chain Alignment

Supply Chain Shaman

The relationship between corporate financial performance and supply chain metrics was complex; and in my first attempts, I was unable to derive a correlation. I believed that supply chain excellence could not be generalized from industry to industry.

Wanted: Supply Chain Architects!

Supply Chain Shaman

When I moved into industry, and the real world, I managed engineering teams. Much to my chagrin, when I entered into the world of supply chain, the processes of source, make and deliver were usually not designed.

Getting Bangladesh’s Apparel Industry on the Map

Supply Chain Brain

Bangladesh’s apparel industry is huge, employing some 4 million people in dye houses, fabric mills, cutting and sewing operations, embellishments and print locations. Illegal subcontracting at Rana Plaza resulted in many foreign brands losing faith in the country as a legitimate source of offshore production. In theory, factories should be eager to be identified as legitimate sources of production, as a means of securing more business.

Summary of Development and Manufacture Contracts in the Aerospace and Defense Industries

NC State SCRC

The type of contract of interest in this report is for Development and Manufacture contracts in the Aerospace and Defense industries. Risk in Aerospace and Defense Industries. Specific Risks in Development and Manufacture Contracts in the Aerospace and Defense Industries.

Off to another exciting year of student-industry engagement at NC State on cutting-edge supply chain projects

NC State SCRC

In a prior post on 2018 supply chain predictions, I shared how NC State’s Poole College of Management engages directly with industry through student-led projects. MUFG Union Bank Strategic Performance Metrics.

How Many Slaves Are in Your Supply Chain?

Talking Logistics

The company is also stopping production in Ecuador, Venezuela, Belarus and Pakistan by April 2014 (these countries scored low in a World Bank report that assessed countries on accountability, corruption, violence, and other metrics).

Blockchain’s Coming to the Supply Chain - Eventually

Supply Chain Brain

Show notes: A previous podcast episode about blockchain in the freight industry. Sourcing/Procurement/SRM All Technology EDI Communication (XML/EDI) Global Trade Management SC Planning & Optimization Supply Chain Visibility Quality & Metrics Supply Chain Security & Risk Mgmt. When it comes to the deployment of blockchain in the supply chain, or anywhere else for that matter, these are still early days.

Digital transformation in the life sciences supply chain – show me the data

Kinaxis

Is there a more challenging industry than life sciences? Regardless of industry, we want artificial intelligence and machine learning (AI/ML) capabilities to take the robot out of the human being and reduce the wasted time spent cleaning data.

Electronics Industry: Top 3 Steps to Keep in Mind When Implementing a Sustainable Procurement Program

EcoVadis

Sustainable procurement offers benefits for all parties – it delivers customers safe, ethically sourced products, and reduces overall supply chain risk.

Where Will Companies Find Their Future I.T. Expertise?

Supply Chain Brain

It’s the model under which companies draw on talent from multiple sources, including in-house staff, outsourced services providers, and freelancers. Talent today comes from the source that meets a company’s needs of the moment. As with any supply chain, it all begins with the source. I would say that there’s a greater awareness in the education industry of the need for I.T. The need for tech expertise is greater than it has ever been — and growing.

The Magic Bullet for Real-Time Supply Chain Collaboration? Cloud Visibility.

synchrono

Worse still, much of the data that could give manufacturers a complete, end-to-end view of their supply chain already resides within the systems of these partners; as much as 80 percent of it, according to some industry estimates.

KPI 89

A Diverse Supply Base Isn’t About Procurement…It’s A Leadership Issue!

Supply Chain View from the Field

The most important and common method for driving diversity objectives in the survey (in 73% of firms) involves explicitly building in diversity as an objective into sourcing processes. It is not uncommon to find that sourcing managers do not view diversity as a priority. An example of a metric captured in the form several key measures of commitment towards supplier diversity. I was recently involved in a survey of best practices in establishing a diverse supply base.

Will the Downturn Signal an Upturn?

Supply Chain Shaman

As we traced the process that could exist using channel data, the conversation changed… DuPont served two primary markets–automotive and the building industry. She is trying to redefine the industry analyst model to make it friendlier and more useful for supply chain leaders.

BluJay Launches Industry-first Freight Market Index, Powered by Transportation Network Data

BluJay Solutions

Holland, MI – November 7, 2019 – BluJay Solutions , a leading provider of supply chain software and services powered by the world’s first Global Trade Network, announces the launch of the Freight Market Index , a monthly report providing transportation market intelligence for shippers, carriers, and industry professionals. BluJay’s powerful single-source dataset enables shippers, carriers, and other supply chain experts to understand how performance compares relative to industry standards.

KPI 12

SIG Webinar on Procurement Analytics and Innovative Data Leveraging

Supply Chain View from the Field

I will be leading a webinar with the Sourcing Interest Group next Nov. Such gaps are often attributed to a lack of data documenting historical spending, contracts, and supplier life cycle performance metrics. This question formed the basis for our study, in which we conducted lengthy interviews with 23 senior procurement executives across a broad range of industries. 12 at 2 PM, based on a study I have been working on with some folks at IBM.

Post Award Contract Management with $40 Oil: Insights from Shell’s Kevin Fronk

Supply Chain View from the Field

Kevin and I worked together years ago to help define the a baseline framework for strategic sourcing and category management that was deployed within the Lubricants group, and which later became deployed across the entire Shell Procurement organization. As the industry is becoming privatized with more private companies coming in to explore, the need for procurement will continue to escalate.

What is the return on ERP implementation? Results from our research

Supply Chain View from the Field

Such systems are also instrumental in establishing aligned tactical and strategic performance metrics systems that drive improved economic outcomes (Bendoly et al., Segmentation, generally associated with strategic sourcing practices, is the basis for building sourcing strategies, which require an ability to negotiate prices based on leveraged volumes of purchases from across the organization.

What Is the True Cost of Eating Meat?

Supply Chain Brain

In 2016, the world’s meat production was estimated at 317m metric tons, and that is expected to continue to grow. Figures for the value of the global meat industry vary wildly from $90bn to as much as $741bn. All Technology SC Planning & Optimization Sourcing/Procurement/SRM Supply Chain VisibilityWhat are the economics of meat? Food and farming is one of the biggest economic sectors in the world.

Doing Business in Belgium

QAD

Industrial production is growing at about.2 percent annually as of 2017, making Belgium the 168 th country in the world for industrial growth rates. Other Important Industries. billion metric tons of goods in 2015.

SCRC Student Project Lineup Off to a Great Start…

Supply Chain View from the Field

Students will learn core processes around initial exploration and assessment of supply chain relationships, establishing metrics/expectations for the relationship, crafting and managing contracts, and sustaining continuous performance improvement in sourcing, logistics and operations. NC State kicked off classes last week, and as usual our incoming group of MBA students were lined up with projects as part of their entry class into supply chain management, MBA 541.

6 Common Supply Chain Mistakes and How to Resolve Them

AFFLINK

The cost of recovery from a disruption in procurement management depends on factors such as supply source, volume, manufacturing location and inventory. Supply chains that rely on a single source are now more likely to experience disruptions. Commercial Industrial

Supply Chains to Admire: 2016 Results

Supply Chain Shaman

The research starts in April and stretches over many weeks as we analyze the different elements and understand the patterns of each industry. The source data for the analysis is public reporting of balance sheets and income statements. Five months of analysis. Lots of heated debates.