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

Cerasis

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. Inventory measurement is critical and it is money after all in that it took a capital expense to procure. 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. Risk Management methods : Supply chain risk management and resiliency are hot-button topics in the industry.

Manufacturing Gains From Machine Learning

IQMS

Improving semiconductor manufacturing yields up to 30%, reducing scrap rates, and optimizing fab operations is achievable with machine learning. Bottom line: Machine learning algorithms, applications, and platforms are helping manufacturers find new business models, fine-tune product quality, and optimize manufacturing operations to the shop floor level. New products are proliferating in manufacturing today, and delivery windows are tightening.

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Top 10 Manufacturing Trends For 2019

IQMS

Bottom Line: The top 10 manufacturing trends reflect how manufacturers are planning to achieve their goals of revenue growth, operational improvements, digital transformation, and launching new products and services in 2019. Manufacturers who excel at orchestrating analytics, Business Intelligence (BI), quality management and real-time monitoring to improve manufacturing strategies are growing 10% faster than their peers. to manufacturing value added in 2020.

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

Industry Week, March, 2016). These metrics would, of course, be aligned and are updated every hour. The metrics are also manual as automatic metric systems cannot retrieve the information at an hourly frequency as these metrics are process inputs and not outputs. Next, you would have management supporting this effort during their daily Gemba walk, reviewing these hourly metrics. Specific metrics: process metrics and outcome metrics.

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Collaboration? When It Comes to Cash-to-Cash, We Don’t Know How to Walk the Talk

Supply Chain Shaman

Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle. The impact of the elongation of payables on receivables varies by industry, but on average across the industries increased eighteen days when comparing the past five years to the pre-recession years. It is worse in some industries. Days of Receivables by Industry. Days of Inventory by Industry.

Which Metrics Matter? Interview with Philippe Lambotte

Supply Chain Shaman

My journey to understand supply chain Metrics That Matter started three years ago. 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. Balance: The ability to balance a portfolio of metrics to maximize market capitalization and free cash flow. How do you balance metrics ? .

BI in Manufacturing: 3 Realistic Steps to Data Mastery in 2020

Unleashed

Industry 4.0 may sound exciting for manufacturers – with its IoT-enabled factories, all-singing all-dancing ERP software, and AI-powered insights – but frankly this is fantasy land for the vast majority of manufacturers. To survive, manufacturers – with their long lead times, and vulnerable supply chains – must be laser-focused on the metrics that matter; able to respond rapidly as conditions change. KPIs versus metrics: Specific vs general.

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The Future of Energy for Manufacturing!

Supply Chain Game Changer

Check out How to Optimize Your Factory for Industry 4.0! Today manufacturers must continually look for waste reduction, process improvement and supply chain efficiency to meet competitive pressures and their customers’ cost reduction requirements. North American manufacturers who have followed this course have seen significant and sustainable results often with reductions of 25% which in turn helps to maintain and enhance their immediate market position. Subscribe Here!

3 Ways to Drive Growth in Your Manufacturing Business

IQMS

Investing in a manufacturing company – and/or operating a manufacturing company – in the current economic climate represents both opportunity and risk as U.S. manufacturing demand and profitability are accelerating. If you have been in the industry longer than a decade, you have experienced the reshaping of the entire economic sector. Manufacturing Predicted to Regain All Output Lost in the Great Recession by April 2019. “The How to Drive Manufacturing Growth.

The Future of Procurement Is Upon Us. Are You Ready?

ivalua

Niul Burton wrote a great article in Industry Week titled “Procurement 2025: 10 Challenges that Will Transform Global Sourcing”. For those of you who are executives in Supply Chain, Procurement or New Product Introduction/Development, this is a must read. Burton predicts a further evolution of what we are seeing already in the market—Chief Procurement Officer’s (CPO) roles are changing rapidly. We are not your father’s traditional Procure-to-Pay solution.

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

From a manufacturing perspective, logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. It helps coordinate the various supply chain activities, which include the complete range of procurement, development, implementation, commercialization, and delivery of the goods or services to the market. Manufacturers benefit with more flexibility in managing ad hoc requirements as well.

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

From a manufacturing perspective, logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. It helps coordinate the various supply chain activities, which include the complete range of procurement, development, implementation, commercialization, and delivery of the goods or services to the market. Manufacturers benefit with more flexibility in managing ad hoc requirements as well.

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

From a manufacturing perspective, logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. It helps coordinate the various supply chain activities, which include the complete range of procurement, development, implementation, commercialization, and delivery of the goods or services to the market. Manufacturers benefit with more flexibility in managing ad hoc requirements as well.

Assessing the True Return of Procurement Transformation on Total Shareholder Return: A Tough Proposition

NC State SCRC

In my earlier book with Gerard Chick on “ The Procurement Value Proposition “, we advance the notion that buildoing a business case for investing in people, process, and technology improvement in procurement is key. Many procurement assessments developed by consultants seek to provide an answer to the question “how far along are you relative to your peers in your procurement transformation journey”, and “which processes are lagging compared to your peers?”

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What is MRO and Why is it Important?

Supply Chain Game Changer

Indirect Procurement – It’s Time to Rise and Shine! In the world of Procurement and Operations one of the phrases that you will frequently come across is “MRO” But many people throw around the term without truly understanding what it means, and how important it truly is for the ongoing, and successful, operation of any company. First and foremost you need to have a dedicated, experienced Procurement person, or people, in charge of MRO. Subscribe Here!

Manufacturing Equipment: Is It Time for an Upgrade?

Cerasis

On one hand, it would be great to have brand new manufacturing equipment. Besides the expense, meaning you or your management are unwilling to make an upfront investment when the manufacturing equipment has not failed entirely, there are other roadblocks thrown up against upgrading: The fear of change. Why Upgrade Your Manufacturing Equipment? There are four big picture reasons to upgrade your manufacturing equipment. Performance is a handy metric to measure.

Quality Improvement in Manufacturing: Relief for Operations Manager

ThroughPut

Most importantly for ThroughPut, manufacturing and logistics operations in the industrial world are about to pick back up until Christmas. The fight for money During the downturn, when oilfield operational expenditure budgets were so tight, I would just put things on my own credit card to keep operations going, and deal with “breaking procurement policies” later. The only real metric that ticks for an Entrepreneur is burn rate. Fall has begun.

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. Duke Energy Sourcing Automation through AI: Sourcing Optimization through technology and artificial intelligence are becoming more readily available within the Supply Chain industry. MUFG Union Bank Strategic Performance Metrics.

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. The manufacturing industry leads all others in the volume of data it produces on a yearly basis. Also, machine learning is leading to more accurate measures of Overall Equipment Effectiveness (OEE), a key metric many manufacturers and supply chain operations rely on.

Supply Chain KPIs You’ll Want Every Morning

Logility

Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. Management must be cognizant of issues of procurement, manufacturing, inventory, and distribution that impact satisfaction and loyalty. Metrics.

How to prepare for a transparent supply chain in 2021

SupplyShift

To reuse the Kraft Heinz example, something like: Procure most electricity from renewable sources by 2025 and decrease energy usage by 15 percent. Decrease water usage by 20 percent at high-risk sites and 15 percent overall by 2025 (per metric ton of product made).

What is Supplier Relationship Management (SRM)?

Supply Chain Game Changer

Regardless of what industry your company is in you are dependent on suppliers to operate your company. Suppliers provide components for products you manufacture and sell. He spent his entire career in Purchasing and Procurement. At one point I was put in charge of a global manufacturing operations team. The scorecard included most of the standard metrics: on time delivery, quality, cost competitiveness, terms and conditions, etc. Subscribe Here! Email Address.

How Many Slaves Are in Your Supply Chain?

Talking Logistics

The law requires “retail sellers and manufacturers doing business in the state [with over $1 million $100 million in annual worldwide gross receipts] to disclose their efforts to eradicate slavery and human trafficking from their direct supply chains for tangible goods offered for sale, as specified.”

Letter from the CEO: Coronavirus Market Update

Transplace

Industrial and chemical sectors are maintaining at seasonally expected shipping volumes as of this time. Many shippers are seeing surge capacity, especially in the CPG industry (water, cleaning supplies, paper products, shelf stable, and other food items). Chinese industrial activity is increasing. Carmakers and electronic manufacturers in South Korea and Japan are reporting production line shutdowns. Letter from the CEO: Coronavirus Market Update.

Is Your Supply Chain A Cost Centre or a Value Creator?

Supply Chain Game Changer

Whatever your Industry you should be able to make comparisons to competitors, do benchmarking, and even compare yourself on key metrics across industries. Lean for instance is equally applicable in Supply Chain as it is in Manufacturing or anywhere else. Now the role of Supply Chain is certainly different from one industry to the next. The Supply Chain in the Financial sector is different from Manufacturing and Distribution for instance. Subscribe Here!

Seasoned Leadership in Action? ? An Interview with Joe Carson, CEO Spend Strategies, LLC!

Supply Chain Game Changer

At Supply Chain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe. Here is our interview with a true Global Industry leader, Joe Carson: Tell our readers a little about your background and experience? As an experienced business professional, he has served in diverse roles ranging from Marketing and Strategy, to Procurement and Supply Chain. leadershipadvice #procurement #supplychainmanagement.

The Supply Chain Team’s Impact on Capital Projects

NC State SCRC

In industries that are going through a lot of Capital Expenditure investments, including construction of pipelines, LNG facilities, and mining operations, the role of procurement on the success of the organization is somewhat different. Here are some of the areas where procurement has the opportunity to make an impact. This metric assesses the responsiveness of supply chains to convert purchases into paid for customer requirements.

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Supply Chain Collaboration – The New Way to Drive Value!

Supply Chain Game Changer

On the supply side, however, there is less and less room for manufacturers to absorb additional costs as volatile input prices put the squeeze on margins and the marketing investment required to differentiate branded products from private-label competitors continues to rise. Similarly, there is little point in entering collaborations to boost sales if any increase in demand is likely to run into manufacturing-capacity constraints. Improved customer service metrics.

Supply Chain Management:Demand Planning in CPG industry.

Infosys Supply Chain Management

Industries. Industries. Industrial Manufacturing. Publishing Resources Industries. Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. « The Upcoming 2011 Holiday Buying Season will again Test Retailer MCO and Supply Chain Capabilities | Main | Factors Influencing Delivery Address Amendment » Demand Planning in CPG industry - Practising the Best Practices. About Us.

New Student Projects Suggest Greater Focus on Analytics

Supply Chain View from the Field

This year was no exception, and we have a cadre of bright MBA, industrial engineering, and manufacturing system engineering students lined up to work on the following projects: American Red Cross – Procurement Card Analysis – Reviewing spend analytics through p-card buying channels, and identifying key trends and consolidation opportunities. The team will benchmark industry leaders to document and define best practices for measuring total acquisition cost.

Supply Chain Personified! The Link Between Your Company Silos!

Supply Chain Game Changer

The responsibilities, metrics, skills, strategies and mandates for each function can cause people to put their functional focus ahead of the greater company objectives. The procurement of materials and goods and services, and the timing of this procurement, payment terms with suppliers, and the buildup and disposition of inventory all dramatically impact the amount of cash that a company has and uses. Manufacturing/Operations. Subscribe Here! Email Address.

The Supply Chain Detective™! In Search of Broken Supply Chain Clues!

Supply Chain Game Changer

Supply Chain effectiveness is absolutely critical for companies in most industries to survive, let alone succeed. You know the people, the processes and the metrics. You have no baggage but you may not understand the intricacies associated with a new company, customer set, and industry. The great thing about being in the Supply Chain however is that the fundamentals are virtually the same, with some variation, across companies and industries. Subscribe Here!

Biobased Economy Continues to Grow: USDA Secretary Announces NC State-Duke Study Results on Monday

NC State SCRC

Biobased Products Industry: 2016 Update.”. biobased industry continues to grow and generate substantial economic activity and American jobs. Key takeaways from the 2016 report include: The biobased products industry contributed $393 billion to the U.S. The biobased products industry supports a total of 4.22 For every biobased product industry employee in the U.S., biobased products industry from an economics and jobs perspective.

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Who Should Be In The Winner’s Circle?

Supply Chain Shaman

Only 29% of manufacturers easily manage total cost trade-offs. Total cost analysis is more difficult than it sounds and most technology implementations automated functional measurement systems (manufacturing or procurement), but leave the organization blind on the management of total costs.

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. Department for Environment, Food and Rural Affairs, in 2014 the food and drink manufacturing sector contributed £27bn to the economy, and employed 3.8 All Technology SC Planning & Optimization Sourcing/Procurement/SRM Supply Chain Visibility