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As retailers navigate an increasingly complex marketplace, several key themes emerged that are set to define the next era of retail innovation. Retailers implementing these solutions are seeing improvements in customer engagement metrics and repeat purchase rates. Ready to transform your retail business?
Yet in EY’s research, they report that “nearly all supply chain leaders (97%) say that their organizations are currently facing challenges as it relates to supply chain metrics and that challenges come from a lack of integrated data and cross-functional metrics being in conflict with each other, among others.
These pillars provide a comprehensive framework to align operational goals with broader corporate and societal objectives, fostering resilience, innovation, and long-term value. Senior leaders must think beyond incremental improvements, embracing systemic innovation to achieve significant environmental impact.
Public Reporting: Publishing sustainability reports and ethical compliance metrics to highlight progress and areas of improvement. Challenges and Opportunities While ethical supply chain compliance presents challenges, it also offers significant opportunities for growth and innovation.
Measuring innovation success is critical yet challenging for organizations, often leading to confusion over which KPIs to use. Many rely on inappropriate metrics borrowed from other departments, wasting resources and overlooking valuable opportunities.
Innovative tools provide actionable insights and improve operational efficiency Artificial Intelligence (AI): AI systems optimize routing and demand forecasting, reducing energy consumption and empty miles. Industry-wide collaboration accelerates technology adoption and innovation.
Samuel Parker and Joe Lynch discuss DAT iQ: the metrics that matter. Samuel is an experienced market strategy and product leader with over 10 years of experience in supply chain logistics and innovation, specializing in helping technology companies build high-performing Go-to-Market teams.
But Omer Bakkalbasi, the chief innovation officer at Solvoyo, says they are already there. “We Solvoyo has a metric they call the user acceptance rate. Many say that they are using generative AI, a type of AI that can create new content and ideas, as part of their journey toward autonomous planning. We feel we are ahead of our times.
A disruption at any point in the global logistics network including the average of 12 touch points from shipment packaging to final delivery can prove disastrous for profits, service levels, customer loyalty, and other key metrics. Generally, next-gen innovations fall into a few main categories, discussed below.
Picture your projects as patients, each with its own unique rhythm and pulse, thriving under your care 🥼 🩺 Step into the role of an innovative project doctor in our upcoming webinar! We’ll explore the vital signs of project success through the lens of the “iron triangle” metrics, using deliverables as tracers.
He is focused on revolutionizing the 3PL industry by providing innovative solutions that enable third-party logistics providers to increase their profitability and efficiency. Data-Driven Insights: Provides valuable insights into shipping costs and performance metrics to optimize operations.
This post focuses on my failure to use design thinking to spark innovation with supply chain teams and my lessons learned. Today, six years later, I reflect on the gaps of the methodology as it applies to supply chain innovation. Remember the need for goal clarity, rules, and clear metrics in my opening paragraph?
Megatrends Shaping Supply Chain Innovation. And what are the key industry trends and innovations? In E2open’s Supply Chain Innovation Report 2021 , 73% of respondents claimed their supply chain is either moderately, slightly, or not at all resilient. Supply chain mapping is key to ongoing innovation.
The research methodology for the Supply Chains to Admire compares the performance of a company against its industry peer group for the metrics of Year-over-Year Revenue Growth, Inventory Turns, Operating Margin, and Return on Capital Employed (ROCE). For 80% of industries, the supply chain metrics represent more than 40% impact on value.
This integration includes tracking individual components and collecting data on environmental impact, including sustainability metrics such as carbon footprint and recyclability. Tracking key performance metrics and conducting regular audits help identify areas for improvement and ensure ongoing compliance with regulatory requirements.
During his tenure in the industry, he built innovative pricing and forecasting models, leveraging internal and external data sources to improve internal decision-making and increase profitability. He leads a team of market experts who study every facet of the logistics industry to bring the best available insight to customers.
At each company, there is a relationship between the metrics of growth, margin, inventory, customer service, and asset strategy. For the purpose of this article, I will use Return on Invested Capital (ROIC) as the proxy metric to discuss asset utilization.) I never calculated and accounted for the inter-dependencies between metrics.
Protecting sensitive data—such as vehicle locations, driver information, and operational metrics—requires rigorous cybersecurity measures. An incremental approach allows businesses to test, measure, and refine their strategies, ensuring that innovative technologies align with overall goals.
One of my stark realizations this year is that smaller companies are beating larger and often more established companies on growth metrics, inventory turns, operating margin, and Return on Invested Capital (ROIC). (In The metrics selection resulted from work with Arizona State University in 2013.) Driving process innovation agendas.
Leaders in building supply chain capabilities on graph technologies are failing to drive break through process innovation. With the low investment in network technologies and the slowing of innovation, the primary networks are being desecrated by private equity firms. Innovation is slowing. Innovation.
This means building a cognitive engine to sense, learn, and adapt using market data for innovators. Watermelon Metrics Don’t Drive The Right Results. I love the metaphor of watermelon metrics. The issue is that traditional functional metrics drive underperformance—the greater the variability, the larger the gap.
For example, real-time planning, end-to-end planning, control tower, integrated business planning (IBP), and digital brain are oxymorons while discussions on innovation bounded by a required ROI is a juxtaposition. True innovation is never defined initially by a mandatory Return on Investment (ROI).) Buyer beware. Digital Brain.
Tracking the Metrics that Matter. While Ardent expects Procurement to rise to and tackle these challenges, tracking the metrics that matter will help them stay focused for full recovery. Inflation Metrics. Tracking this metric and taking steps to improve it can help combat inflation. Risk Metrics.
The use of orbit charts allowed me to see the patterns of performance at the intersection of metrics over time. Innovation in plastic shoe design, and the design of the supply chain to maximize value. Fortuitously, I hired a bright summer intern named Alex that introduced me to orbit charts. In Figure 3, we depict Crocs. The secret?
Laggards mosey down a path of vague terms and goals without questioning the need to reskill to drive process innovation. How do we design work systems to align organizations and ensure that there is the right balance of reward systems with metrics? In the design of the digital program, spend time on metrics and reward systems.
Meanwhile, tech companies are capitalizing on streamlined processes to bring innovative products to market at unprecedented speeds. We’ll examine the key components of efficient supply chains, explore essential performance metrics, and uncover the fundamental drivers that influence efficiency.
Their goal is to be the most sustainable, innovative, and efficient hyperscaler logistics organization. A clear goal needs to be combined with good data and metrics. Users can only take action once they have the goal, visible data, and metrics. Mr. De Golia stressed that to drive progress, you need a clear goal.
The group’s response is, “Are these supply chain metrics?” ” For many stuck in the myriad of functional metrics, like Operational Efficiency (OEE), Purchase Price Variance (PPV), or transportation cost, a focus on growth, operating margin, inventory turns, and Return on Invested Capital (ROIC) is a stretch.
A traditional forecasting model might look at last year’s sales metrics to predict this year’s. Manufacturers can supercharge their predictive analytics capabilities by embracing innovative technology that supports it, like Logility. Let’s consider a simple example—daily sales of ice cream.
Or, the importance of digitalized manufacturing and how digitalization has enabled companies to pivot faster to new and more innovative products, processes or never-produced products needed to save lives in the pandemic. . Identify metrics, analytics and projects to drive business improvements.
My job, as the plant engineering manager, was to drive innovation and implement technology improvement. Despite goals to improve agility and resiliency, functional metrics for manufacturing efficiency continually throw the supply chain out of balance. The second step is to align metrics to the strategy. The So What?
Financial crises, global tensions, supply shortages, technological innovations, and regulatory changes are inevitable we just cant predict when theyll strike. Disruptions in the supply chain happen with surprising regularity. This uncertainty makes dynamic inventory replenishment optimization essential for business success.
E2open has come up with an innovative way of doing this. They can then use the data to provide an apples-to-apples benchmark on a variety of innovative supply chain metrics applicable to the grocery supply chain. There was a shift from “’growth through innovation’ to ‘growth through efficiency.’ 2020 was different.
Read the blog → Receipt Metrics in Top-Down Planning With v2023.1, JustEnough has also empowered Assortment Planning users to view and plan receipt metrics at an aggregate level.
In the research, I’m trying to understand the impact of choices—technology, process innovation, and leadership– on balance sheet performance. Companies performing the best have three characteristics: Business Model Innovation. We selected these metrics based on correlation work with Arizona State University in 2012.
At the event, James Rice, MIT, spoke on innovation, and his reflections on Clayton Christensen’s 1997 classic business book, the Innovators Dilemma. This is disruptive innovation. The spark from Invention to Innovation is slow. Technology invention is happening, but the translation to innovation is slow.
We talk about the move from functional metrics to a balanced scorecard, but we don’t use a balanced scorecard as an objective function. Instead, the focus is on customer-focused innovation and leadership. We talk about complexity, but do not measure the impact on forecastability.
Instead of pushing innovation forward, I see companies using the term “digital” as a path for IT spending. An orbit chart is a plotting of data at the intersection of two metrics. In this case, the metrics are operating margin and inventory turns. Three Paths for Innovation. They are a barrier to true innovation.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. By fostering these relationships, businesses can ensure stable supply chains, consistent quality, and even access to supplier innovations. Click here!
Track KPIs, Not Buzzwords Evaluate V2X based on tangible logistics metrics: fuel savings, delivery times, accident rates, and emissions. Focus on what drives profit and safety, not just innovation. Adopt security platforms that encrypt, authenticate, and monitor every message and device in your connected fleet.
These include: Challenges getting ESG metrics from suppliers, partners, and other third parties. Time-consuming manual processes to report on ESG metrics. Reassure your employees that while automation may take over manual tasks, there will be more time for strategic thinking, innovation, and work-life balance.
In this Innovation Insights series, I’ll share how the team at Logility is approaching generative AI and decision intelligence with a supply chain ontology mindset across the platform and what it means for supply chain leaders and their teams.
“Digital transformation leaders across many different industries share common traits and visions,” Marianne D’Aquila explained, “helping them overcome complex challenges to innovate and stay agile. Industrial innovation continues to accelerate, and leading companies have their transformation initiatives well underway.
Multi-Tiered System of Support (MTSS) platforms have emerged as innovative solutions in education and training, offering customized support that can profoundly enhance the development of future supply chain experts. Preparing the next generation to excel in this dynamic field requires more than traditional education methods.
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