Modern Metrics

synchrono

The two areas of my working world are embracing technology like never before: Marketing and manufacturing. 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. The post Modern Metrics appeared first on Synchrono.

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

Cerasis

Sure, supply chain cost reduction is important in reducing the cost of goods sold (COGS) and increasing profit, but there are other measurements which should not be forgotten. 3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. If cost reduction is not the only thing to measuring supply chain performance, that begs the questions: "Maybe we should be measuring other Supply Chain Management activities and what would they be?".

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Fine-Tune Your Supply Chain By Looking at Amazon

Savi

Does that mean to compete today, you need planes, trucks, ships and a global network of distribution centers? Often overlooked is that behind all of Amazon’s fleet assets run the best technology tools to manage schedules, performance, costs and customer satisfaction. In-transit visibility software-as-a-service provides accurate, live streaming data on the location and condition of cargo in motion.

Open Letter to the Chief Financial Officer

Supply Chain Shaman

For most, it is the end of the quarter. While for others, the end of the fiscal year is looming. The end of any fiscal period is a good time to take stock, and reflect. I walked into the event early before my speaking slot and sat down to listen to the CFO of Samsung Europe wrap-up his speech about his supply chain. After his presentation, there was a facilitated networking session on the role of the CFO in supply chain. Rethink the Role of the Budget.

SCRC Meeting: Advanced Auto Parts is investing in Advanced Analytics to drive competition

NC State SCRC

Todd Greener, Senior Vice President of Supply Chain at Advanced Auto Parts, led off the discussion (after I provided an overview of what was happening in the digital space). They are also keenly aware of the move towards autonomous vehicles. With the merger between AAP, Carquest, and WorldPac, there is now a long-term strategy to win, and supply chain growth is a big part of connecting assets and presenting products to the customer is a big part of the strategy.

Data is the Real Gold At the End of the Rainbow for Contract and Spend Management Systems

NC State SCRC

Contract management analytics are critical for tracking transactional compliance with contract pricing, terms and conditions, but also as a vehicle for workflow management around negotiation of contract renewals, and aggregation of supplier performance data on service level agreements, delivery, quality, and service performance. When spend analysis is combined with insights about contracts that are outstanding, another layer of insight can be created.

More Insights on Deploying the Digital Supply Chain

NC State SCRC

On the second day of our executive focus group on the LIVING Supply Chain, the group took the opportunity to share insights regarding the emerging trends in the future of supply chains, with a focus on digitization, development of analytics and a focus on emerging technologies. The executives spent a good amount of time emphasizing the importance of “getting the question right” when it came to building analytical insights.

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Best Practice: Creating a Governance Mechanism for Analytical Learning in Organizations

NC State SCRC

The linkages between the enterprise and local teams are very tight, to ensure that functionally unique applications are inventoried centrally so all parties can leverage these tools. Recognizing the importance of having the right mix of data scientists and SMEs, the company has established a supply chain information and analytics organization composed of data scientists, operations research, and statistics PhDs to work on problems they are directed to from the business.

The Impact of Digital Connectedness – Is Your Supply Chain Ready for the Complexity?

BlueYonder

The report estimates that the digital connection between billions of customers and products will drive trillions of transactions. A few takeaways to consider as you explore how this level of digital connectedness will impact your supply chain and your response to the Internet of Things (IoT): The simplicity/complexity paradox. As the adoption of IoT increases, the type and amount of information shared across nodes will grow dramatically.

Measuring Up?

Supply Chain Shaman

” The journey for value requires a clear definition and analysis of what is possible. To help, in this post, we provide you with some insights for the period of 2006-2015. The supply chain is a complex system with finite, and non-linear relationships between supply chain metrics that drive balance sheet results. The analysis needs to be measured through an evaluation of year-over-year improvements. The period of 2007-2008 was the great recession.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

” Here is an excerpt from the article: “…it isn’t by becoming more efficient that the supply chains of Wal-Mart, Dell, and Amazon have given those companies an edge over their competitors. Third, they align the interests of all the firms in the supply network so that companies optimize the chain’s performance when they maximize their interests. This is the goal of this post. And, then assess the current state of alignment.

Looking Beyond Red Arrows

Supply Chain Shaman

It is hard work to maintain the status quo in metrics performance. A balanced portfolio of metrics delivers the greatest value. As a result, supply chain leaders focus on unrealistic goals of inventory or costs, they will throw the system out of balance. In the setting of strategy goals, executive teams often set unrealistic goals because they are not aligned with supply chain potential. 2) Focus on a balanced portfolio of metrics.

Digital Inventory Management Key Battleground in Transformation of Brick-and-Mortar Retail

Veridian Solutions

As e-commerce growth accelerates, shippers are working overtime to manage available inventory. Although e-commerce represents 10 percent of total retail sales, it has had an interesting effect. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices. The days of managing stock in individual channels are over, yet shippers must still manage stock for each channel.

Mining Supply Chain Data for Insights

Supply Chain Shaman

Over the course of the last quarter, with the help from Cloudera, we built a data lake of with data from 1449 public companies. We loaded 493 financial metrics from balance sheets and income statements for each company into the data lake for the period of 2004-2016 using YCharts data. YCharts is a provider of syndicated balance sheet and income statement data.) Our goal was to understand the characteristics of companies outperforming on growth, cost, and value.

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What Supply Chain Data Should I Track in 2020?

Veridian Solutions

To ensure your organization applies data correctly and generates meaningful KPIs , supply chain leaders must know the challenges of data tracking, how it improves operational excellence, and the primary types of data to track in 2020. Supply chain data provides a comprehensive view of specific and enterprise-wide company functions. Taking a proactive role in data management can make a difference, and the right data is not necessarily the same as that of your top competitors.

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Household Products Industry Stuck in Neutral and Going Backwards

Supply Chain Shaman

Over the course of trip to Atlanta to connect to Peru, we began a discussion. The market shift was dramatic, and if we had made a series of small cuts in staff or direction, we would have had the same fate as i2 Technologies or Manugistics. Two of my co-authors fought me on the wording believing it was too strict. During the period of 1996-2001, the company struggled. I related to Steve’s story of death by a thousand cuts. Orbit Chart of Cisco Systems.

Carter’s: A Story of Supply Chain Leadership

Supply Chain Shaman

The design of the supply chain is fundamental to making this happen. In our interview of the Supply Chains to Admire Winners, we found a unique approach at Carter’s. also known as the William Carter Company, is the leading brand of children’s clothing, gifts and accessories in America. Based on a heritage of quality and innovation, the designs earned the trust in generations of families. We eliminate the lower 1/3 of companies for the period from consideration.

Imagine the Supply Chain of the Future

Supply Chain Insights

On September 9–11, 2014, 110 supply chain visionaries will gather in the desert at the Phoenician Hotel in Scottsdale, Arizona to think differently and define the future of supply chain. Today, 90% of publicly-traded companies are stuck at the intersection of operating margin and inventory turns. Will your UPS store or Third-party Logistics (3PL) provider, through printing on-demand, become the new provider of parts for industrial equipment?

Conquering the Explosion of Supply Chain Planning Data

Logility

Companies across all industries and sizes struggle to make sense of and value from the available mountains of data. Structured and unstructured data including that from social media, Internet of Things (IoT) and Blockchain sources continue to stream in but much is left untouched. This article will discuss the opportunity generated from the explosion of supply chain planning data and the necessity for digital supply chain transformation.

Supply Chain Analytics: A Continued & Renewed Focus on Using Data for Improvement

Cerasis

The digital business landscape for a shipper, such as the use of an ERP, TMS, and other digital aspects, such as The Internet of Things , provides unparalleled insight into how an organization in the supply chain can improve efficiency, visibility, and productivity. Through the use of connected devices and greater abilities to capture data in real time, the concept of end-to-end visibility and improvement thru the use of supply chain analytics has changed.

Real-Time Monitoring Fuels IoT Growth In Manufacturing

IQMS

72% of manufacturers say real-time monitoring is essential for streamlining and making inventory reconciliation more efficient. 69% are relying on real-time monitoring to increase the accuracy of tracking production time, downtime, total parts created, rejects and parts remaining to be produced. Manufacturers are prioritizing real-time monitoring to attain the goals of increasing product quality, reducing time-to-market and attaining faster revenue growth.

Navigating the Supply Chain Management Fault Line

Supply Chain Shaman

In parallel, I am also seeing market consolidation of traditional applications. There are five fundamental shifts: Redefinition of Decision Support Software. There is a lot of noise in this market. Decision support includes all forms of planning: demand, supply, revenue, manufacturing and transportation planning. The inclusion of cognitive computing in decision support will make the traditional applications in the advanced planning solution markets obsolete.

Integrated Planning: Is It Rubbish? Be Careful What You Ask For….

Supply Chain Shaman

The Barnes Foundation is an incredible exposition of some of my favorite artists–Matisse, Modigliani, and Picasso. The combination of weather and the Democratic Convention in Philadelphia delayed all my flights for at least two hours on multiple days. ” I loved the simplicity of the statement. Most of the Integrated Supply Chain Planning Projects Generate Rubbish. In this complex world, simplicity is a good thing.

How Do You Define a Mature Supply Chain Planning Organization? (Part 1)

Supply Chain Shaman

I was not sure what the discussion was going to be, but I was hoping to be wide-awake by the time that I got to the corner of 18 th Street to meet my client. Their goals were lofty, but their understanding of supply chain planning was hazy. The cost was 60% more in than average; but even more unfortunate, they never got a good understanding of how to use the planning system. Table 1: Characteristics of a Mature Planning Organization. Low Level of Maturity.

Collaboration and Visibility in the Supply Chain

Oracle SCM

One of the Supply Chain Management trends apparent at the Gartner Supply Chain Executive Conference in May was highlighted by several vendor/customer presentations focused on the value of Collaboration and Visibility projects. Often this data is rolled up organizationally, geographically or in distribution through performance metrics or key performance indicators (targets change with these roll ups). See Oracle’s Internet of Things Cloud Application for more examples.

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

Supply Chain Game Changer

Check out Brand Protection – The Definitive Role of the Supply Chain! From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. These responsibilities are at the core of making your company run. And how do you increase the value of Supply Chain in the eyes of your Executives and other functions? Now the role of Supply Chain is certainly different from one industry to the next.

Manufacturers, Technology, and the Digital Age

Enterra Insights

Manufacturers have historically found themselves at the cutting edge of technological advances. During a fall meeting of the Manufacturers’ Council of the Inland Empire, Gregg Profozich, Director of Advanced Manufacturing Technologies at California Manufacturing Technology Consulting (CMTC), told participants, “Technology is key to survival of manufacturers.”[1] Profozich described some of the changes currently taking place.

Friends with Fitbits: Fitness tracking and taking supply chain planning to the next level

DELMIA Quintiq

Our parent company, Dassault Systèmes, places great emphasis on the health and wellbeing of its 14,000+ employees. As one of its many programs, it initiated the “2015 Going the Distance Challenge” here in North America. I formed one consisting of a number of participants from our marketing department, so naturally, we were under more pressure than others to come up with a good name. We took the stairs instead of the elevator.

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

The Logistics & Supply Chain Management Society

Whilst the COVID-19 pandemic spreads across the world, it is vital for organisations to ensure a reliable supply of products and services. Lockdown of cities and manufacturing plants have significantly impacted many industries’ supply chains. Put first things first.

Outsourcing Logistics: Does It Make Sense for Everyone?

Cerasis

The benefits of outsourcing logistics processes to a third-party logistics provider (3PL) are well documented. As the world’s economy has become increasingly complex, it has become impossible for a single entity to control all of the warehousing, transportation and administrative tasks that come with shipping and managing inventory. For this reason, more companies are turning to 3PLs to help with cost reductions and overall management of supply chain processes.

Throwing Down the Gauntlet

Supply Chain Shaman

“The idea of the value chain is based on the process view of organizations, the idea of seeing a manufacturing (or service) organisation as a system, made up of subsystems each with inputs, transformation processes and outputs. Inputs, transformation processes, and outputs involve the acquisition and consumption of resources – money, labour, materials, equipment, buildings, land, administration and management. This is a group of leaders.

Artificial Intelligence in Supply Chain

3PL Insights

This technology is helping to lower costs, increase productivity, and improve key performance metrics. There a lot of benefits to using this machine but the main one is that it reduces packaging labor by 88% which helps to fight the labor crisis. Drones are even playing a part in inventory management. Inventory management is a time consuming and error-prone process. However, with drones, two of them can do the work of 100 workers in 2 hours with a higher accuracy rate.

Speed Delivery with a Better Warehouse Management System (WMS)

Veridian Solutions

However, unique customer demands continue to increase, and a failure to plan for stronger demand will not excuse any issue, especially failures in the systems of record. Supply chain leaders need to understand how failures in the warehouse management system (WMS) could lead to poor experiences, how it affects efficiency, and a few best practices to increase the speed of fulfillment and delivery through peak season and beyond.

Driving Organizational Alignment

Supply Chain Shaman

However, at a practical level, companies struggle with the implementation of strategy due to a lack of definition. The average supply chain organization is fifteen years old, and the practice of supply chain management is just thirty years old. The practices are still emerging and have morphed dramatically over the course of the supply chain leader’s career. The CSCO feels the issues of alignment acutely; whereas, the CFO and CIO do not.

PINC’s Rafael Granato accepted into Forbes Communications Council

PINC

9, 2020 — Rafael Granato, Vice President of Marketing at PINC, has been accepted into Forbes Communications Council, an invitation-only community for executives in communications, marketing, and public relations.