SCMDOJO

MARCH 8, 2024

In this blog, we’ll explore some key inventory optimization strategies that can benefit businesses of all sizes and industries. Top 5 Inventory Optimization Strategies Explained Managing inventory efficiently is vital for any business.

Inventory Reduction 79

Inventory Reduction Optimal Sourcing Resource Reduction Cost Reduction Strategies 79

Enterra Insights

JUNE 6, 2023

Supply Chain Planning and Digital Twins Chap Achen , Vice President of Product Strategy & Operations at Nextuple, explains, “A digital twin allows a business decision-maker to test and validate a complete set of strategies and objectives across teams and make smart decisions that improve the customer experience and maximize profitability.”[1]

Resource Reduction 130

Resource Reduction Supply Chain Planning Software Supply Chain Design Software Supply Chain Strategy 130

Unleashed

APRIL 18, 2023

The last of these can be achieved by tracking the right inventory metrics, analysing the results, and making data-driven optimisations. So, what are the ‘right’ inventory metrics, and how do you calculate them? In this inventory metrics guide What are inventory metrics? What are KPIs for inventory?

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Procurement Analytics Metrics Inventory Reduction Inventory 52

Taulia

JUNE 12, 2023

Blog Expert Advice 8 min read 12 Jun 2023 By Taulia Share: Share via linkedin Share via twitter Share via facebook Share via email Copied Copy page URL to clipboard 10 supply chain KPIs and metrics to track We’ve listed the 10 top supply chain KPIs you can use to measure your supply chain performance and find opportunities for optimization.

Procurement Analytics 52

Procurement Analytics Metrics Supply Chain Software Inventory Reduction 52

Enterra Insights

JULY 18, 2023

Such predictions concern governments, populations, and industries. I want to focus on industrial water requirements. 3] When industrial requirements collide with personal requirements, unrest and political action are inevitable. ” Private Sector : “Develop water resilient business strategies.

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Resource Reduction Industrial Industry Waste Reduction 130

Logistics Viewpoints

APRIL 6, 2023

Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services. For instance: pumps and motors as MRO repair parts for industrial machinery. This approach results in inefficiencies, higher costs, and missed opportunities.

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Optimal Sourcing Sourcing Strategies Manufacturing Procurement Material Savings 201

Supply Chain Shaman

JANUARY 9, 2024

The industry struggles with groupthink. The industry is awash with ex-execs advising companies, speaking at events, and consulting. They are unconscious that they are underperforming their peer group and have not driven industry improvement. The group’s response is, “Are these supply chain metrics?”

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Supply Chain Planning Software Pharmaceutical Supply Chain Planning Gartner 297

Unleashed

DECEMBER 15, 2021

Here explain what DSI is, how to use it, and why it’s crucial to track this metric in your business – whether you’re a retailer, manufacturer, wholesaler or distributor. The next figure you need to calculate is COGS, which is a metric that relates to the direct costs of a product that a business sells.

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Procurement Analytics Inventory Reduction Metrics Inventory 98

Supply Chain Shaman

JUNE 7, 2018

For the past month, I have been working alongside companies implementing digital strategies. Putting a stick in the eye of the industry is hard work. The industry has too many events. To make the argument, let’s look at industry orbit charts in aggregate for the period of 2006-2017 for the apparel and chemical companies.

Supply Chain Planning Software 229

Supply Chain Planning Software Supply Chain Design Software Optimization Software Forecasting Software 229

Unleashed

FEBRUARY 12, 2023

To stay on top of your financials, there are a few key cash flow metrics and KPIs you can track that will help you make the right decisions and avoid insolvency or liquidation. Learn more: Inventory Accounting: A Video Guide for Accountants & Advisors What are cash flow metrics? Why is it important to track cash flow metrics?

Procurement Analytics 52

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SCMDOJO

FEBRUARY 20, 2023

Therefore, evaluating performance and creating a comprehensive digitalization strategy are essential for a distributor’s success. To maximize efficiency, distributors should adhere to the following set of guidelines for evaluating and planning their supply chain with the strategies mentioned below.

Inventory Reduction 101

Inventory Reduction Cost Reduction Strategies Resource Reduction Supply Chain Planning Software 101

ShipBob

FEBRUARY 3, 2023

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. Why are retail metrics important?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

ThroughPut

MARCH 27, 2024

Benefits of AI in the Retail Industry Enhancing Accuracy in Demand Forecasting Forecasting demand has never been this accurate before. Anticipating Bottlenecks and Finding Alternative Routes AI works with real-time data and offers visibility into various metrics that can disrupt the supply chain.

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Case Study Waste Reduction Inventory Reduction Price Reduction 52

GlobalTranz

JULY 13, 2015

Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. What Distribution Center Metrics Need Tracking? However, the most important metrics can be categorized into the following eight areas. On-Time Shipping.

Procurement Analytics 120

Procurement Analytics Metrics Distribution Inventory Reduction 120

Unleashed

OCTOBER 31, 2023

Effective implementation of workforce optimisation strategies ensures you have the valuable workforce resources you need for the growth of your manufacturing operations. The primary goal of workforce optimisation strategies is to reduce operational costs. What are the goals of workforce optimisation?

Waste Reduction 52

Waste Reduction Inventory Reduction Resource Reduction Cost Reduction Strategies 52

Talking Logistics

SEPTEMBER 12, 2017

The four key methods here will help you drive more success as you bring the metrics to life on your warehouse floor: 1. Show the “story” of your metrics with quarterly and yearly growth charts; show how far you’ve come as a team over time. As a leader, you need many tools to eliminate this mindset.

Metrics 106

Metrics Supply Chain Planning Software Supply Chain Software Supply Chain Planning 106

Supply Chain Shaman

JULY 25, 2021

I find the industry complicit. To make the point, let me share an orbit chart for four industries (reference Figure 1). While some might claim that the industry made progress, the facts show that the industry margin decreased precipitously in three of the four industries shown. How could the industry spend 1.7%

Procurement Analytics 370

Procurement Analytics Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Planning Software 370

AIMMS

FEBRUARY 20, 2015

Interview with Lora Cecere, Founder and CEO of Supply Chain Insights and Author of Supply Chain Metrics that Matter ( published December 2014 ). Metrics that Matter became a three year research project. I realized that many organizations are very confused about metrics. So I started this book as a summary of this research.

Metrics 120

Metrics Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 120

Resilinc

NOVEMBER 29, 2022

Bindiya explains how legacy procurement strategies, in which OEMs prioritize cost reductions from their largest suppliers by spend, have resulted in crushing losses of revenue and profits. The inability to get a $5 semiconductor chip has brought the automotive industry to its knees,” she wrote.

Price Reduction 62

Price Reduction Cost Reduction Strategies Supply Chain Strategy Manufacturing Procurement 62

Supply Chain Shaman

DECEMBER 28, 2020

Orbit Chart for Henkel versus Consumer Non-Durable Industry for the Period of 2010-2019. Pre-pandemic performance across industries was worse than the performance pre-recession. ” I grow weary of industry doubletalk and over-used superlatives. Henkel is underperforming its peer group. What can we learn? The So What?

Supply Chain Planning Software 415

Supply Chain Planning Software Forecasting Forecasting Software Modeling 415

Supply Chain View from the Field

APRIL 1, 2015

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. Step 2 – Develop Metrics and Data Sources.

Cost Reduction Strategies 60

Cost Reduction Strategies Material Savings Inventory Reduction Resource Reduction 60

SCMDOJO

APRIL 27, 2022

Managing the flow of goods within the apparel industry requires an extensive and well-established supply chain network. Since this particular industry is insanely fast-paced, any problem within the supply chain can lead to a loss of sales for the business. Why Does the Apparel Industry Require Supply Chain Management?

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Apparel Supply Chain Design Software Supply Chain Design Supply Chain Optimization 114

ToolsGroup

APRIL 27, 2022

Actual) Strategies for Managing Stress in the Workplace. And the strategies you can add to your daily routine. Steve Pogson, Founder & E-commerce Strategy Lead, FirstPier. 9 Stress Management Strategies to Overcome Burnout. Here are the nine strategies you can practice and look to employ in your own life.

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Sourcing Strategies Supply Chain Strategy Price Mitigation Strategies Strategy 296

Supply Chain Game Changer

NOVEMBER 2, 2022

Such delays cause heavy losses to the affected industries, making them difficult to return to the pre-pandemic levels. In the automotive industry, supply chain risk management software has become a key part of business operations. Automotive.

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Supply Chain Planning Software Risk Management Supply Chain Software Predictive Analytics Software 96

Supply Chain Shaman

APRIL 9, 2021

This included one-number forecasting, Integrated Business Planning (with tight integration to the budget), labor arbitrage strategies (chasing low-cost labor with extended supply chains), and tax-efficient supply chain strategies. Focus on functional metrics without alignment to a balanced scorecard to drive value. Mistake #3.

Supply Chain Planning Software 362

Supply Chain Planning Software Procurement Analytics Supply Chain Performance Manufacturing Procurement 362

Supply Chain Game Changer

MARCH 2, 2021

Commodity (or Category) Management – What is your Buying Strategy? Metal commodities industry article and permission to publish here provided by Cindy Cummings. According to the MSCI Industrial Metals Index, in the past year, the cost of both base and precious metals has gone up by 21%. China is driving the industry.

Trends 90

Trends Manufacturing Procurement Global Industrial 90

The Logistics & Supply Chain Management Society

JULY 20, 2020

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. Cyber Physical Systems (CPSs) are key enablers for Industry 4.0.

Agile and Lean Supply Chain 230

Agile and Lean Supply Chain Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 230

Unleashed

DECEMBER 21, 2023

Keep reading to uncover the risks and challenges of inventory management , learn about the types of solutions available, and discover some of the most effective inventory management strategies in modern business. Perpetual inventory software systems enable real-time tracking of key metrics, including your current stock on hand value.

Inventory Reduction 52

Inventory Reduction Inventory Management Software Vendor Strategies Cost Reduction Strategies 52

GlobalTranz

FEBRUARY 9, 2017

Current industrial manufacturing trends show the new administration is pushing for reshoring among the nation’s biggest manufacturers, and new technologies are revolutionizing how companies respond to growing skepticism and scrutiny by the public and government oversight as well. The "First Five" Industrial Manufacturing Trends of 2017.

Supply Chain Planning Software 120

Supply Chain Planning Software Demand Planning Software Trends Logistics Network Optimization Software 120

OptiProERP

NOVEMBER 3, 2022

Forty-two percent of SMBs consider digital transformation a central part of their organizational strategy. Developing an Effective Digital Transformation Strategy. A digital transformation strategy is a detailed plan to improve business operations. Define Metrics to Measure Success. But where do you start?

Sourcing Strategies 52

Sourcing Strategies Inventory Reduction Cost Reduction Strategies Waste Reduction 52

Supply Chain Shaman

JULY 5, 2016

However, in the writing of the recent report on the Household Products and Beauty industries, my observation is that companies are stuck in neutral and going backwards. Who is performing the best in this industry? The industry as a whole struggled. As an analyst, I get to watch and observe industry progress. Reflections.

Supply Chain Planning Software 150

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

GlobalTranz

JULY 20, 2015

Importance of Metrics in Reverse Logistics Management. To monitor progress against its reverse logistics management plan, a company needs metrics that measure the financial impact of returns on the firm and on other members of the supply chain. Energy used in handling returns : This metric is used in sustainability programs.

Reverse Logistics 120

Reverse Logistics Supply Chain Planning Software Supply Chain Network Software Optimization Software 120

Supply Chain Shaman

FEBRUARY 26, 2024

Based on the work with Georgia Tech, we are getting clear on which metrics matter by industry. As companies adopt a balanced scorecard, the functional metrics shift to a focus on reliability. In today’s training class, we focused on determining the balanced scorecard.

Modeling 208

Modeling Supply and Demand Optimal Sourcing Supply Chain Planning Software 208

Logistics Viewpoints

DECEMBER 15, 2022

The retail industry is rich with data. Price index and price elasticity are useful metrics on their own, and a combination of these can help determine the right price point to maximize revenue and profit. However, using metrics that can be easily tracked and updated is recommended. Asena holds B.S.

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Optimal Sourcing Analysis Procurement Analytics Purchasing Skills 193

The Logistics of Logistics

SEPTEMBER 15, 2023

About Jonathon McKay Jonathon McKay is a highly experienced partner at PATH specializing in exceptional growth strategies for the supply chain industry. Focused on logistics, manufacturing, and distribution channel strategies, Jonathon helps organizations make confident decisions for bold growth.

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Price Reduction Company Supply Chain Strategy North America 222

synchrono

AUGUST 22, 2016

While digital content and automated technologies gave birth to the modern marketer, a more real-time, digitally connected enterprise is driving modern manufacturing strategies like the Factory of the Future, Smart Manufacturing and Industry 4.0 – all of which are grounded in Demand-Driven Manufacturing methods. This got me thinking.

Metrics 40

Metrics Demand Planning Software Modeling Software Analytics Software 40

Supply Chain Shaman

FEBRUARY 18, 2021

While the industry is flush with terms like digital twin and what-if modeling, current applications were not equal to the need. Initially, the output was published to procurement to design strategic buying strategies. Watermelon Metrics Don’t Drive The Right Results. I love the metaphor of watermelon metrics.

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Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 288