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

Supply Chain Nation

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.

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. Warehouse Management warehouse management

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. While most companies have been able to make progress in one of these two critical metrics in the period of 2006-2013, they have not been able to make progress on both together.

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.

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.

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.

Top 5 Trends to Know to Compete with Amazon’s Supply Chain

Cerasis

Fortunately, these five trends may alleviate some of the strains of competition by giving supply chain partners an advantage in the global market. Amazon’s purchase of Kiva Robots changed the landscape of robotics in the supply chain. Meanwhile, Lowe’s has created the LoweBot , which boosts customer service, explains Dan Gilmore of Supply Chain Digest. Furthermore, the speed of operation of robots will increase more than 30 percent by the end of 2017.

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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.

Tackling the Unknown: Trying to Figure Out New Forms of Analytics

Supply Chain Shaman

The new world of supply chain analytics is my current research project. The possibilities of data variety and velocity to improve supply chain management excite me. The pace of solution evolution is moving quickly, and it is hard for supply chain leaders to keep up. ” , we can see that when companies cannot use and access data is a characteristic of companies that are not working well (reference figure 1). Evolution of Supply Chain Analytics Architectures.

Technology and the Supply Chain: What Does the Future Hold?

Kinaxis

Like any well-rounded child of the 80s, I grew up watching Saturday morning cartoons. Admittedly the futuristic family sitcom The Jetsons , which actually first aired in the 60s, wasn’t top of my list like He-Man or Captain Planet , but there was something fascinating about the whimsical and almost unimaginable gadgets and gizmos they featured. Decades later and a sizable amount of that technology has hit the mainstream market (can anyone say Apple Watch ?)

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.

Last Mile Technology: How Technology & Transportation Management Aid in Efficient Execution of the Last Mile

Cerasis

These questions reflect why technology and effective transportation management, including the use of a transportation management system (TMS) and the Internet of Things (IoT), is key to the efficient execution of last mile delivery and service. The use of a TMS can benefit entire supply chains. The days of using technology solely for shipping within the last mile from a centralized factory or distribution center are ended.

Supply Chain and Logistics Resolutions for 2017: 4 Things to STOP Doing This Year

Talking Logistics

Today, I’m adding to the list of resolutions, but instead of focusing on things you should do this year, I’m focusing on 4 things you should stop doing in 2017. With so much innovation happening in technology, it’s so easy to chase the next new shiny thing, whether it’s artificial intelligence (AI), Internet of Things (IoT), and countless other emerging technologies.

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. Warehouses are starting to become 100% autonomous by using robots. However, with drones, two of them can do the work of 100 workers in 2 hours with a higher accuracy rate.

Go Horizontal!

Supply Chain Shaman

This lack of alignment is an impediment to improving balance sheet results. I am a product of traditional, silo-based thinking. I did not understand warehousing and transportation until reassignment to a logistics role in 1985. I cut my teeth on early forms of supply chain planning. In the building of outside-in processes, the leader acknowledges that an order is not the best representation of demand and that there is no substitute for market data.

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Raise a Toast to Digital Business!

Supply Chain Shaman

I am in awe of what is possible today. In my travels, I find supply chain leaders expressing rising frustration about the gap of what they see as possible in the digital age and what they experience in their day-to-day world in their offices. Two weeks ago, I sat in the audience at Pivotcon , a conference focused on the advancement of digital business. I listened to digital marketers wax eloquently on the future of business. At the end of the session, I felt tired.

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

Veridian Solutions

Although e-commerce represents 10 percent of total retail sales, it has had an interesting effect. Warehouse Managers need to understand why this is happening, its implications, and how digital inventory management can benefit brick-and-mortar retail. Customers expect to receive online purchases as scheduled, so any deviation from planned delivery, pickup, or shipping could translate into severe consequences, including the loss of a customer.

Logistics Simplified: Three Keys to Solving Your Supply Chain Problems

Material Handling and Logistics

The solutions to supply chain problems boil down to the right combination of three factors—technology, data and processes. Fundamentally, the solutions to supply chain woes boil down to the right combination of three factors—technology, data and processes. Here’s how that would be applied to three of the top supply chain problems. Rather than the constant headache of battling with archaic equipment and resolving distractions, workers can focus on their responsibilities.

26 logistics professionals reveal the biggest trends in logistics technology

6 River Systems

Logistics can be traced all the way back to the Greek and Roman empires , but it’s undergone several major transformations as new technologies provide opportunities to more efficiently manage the movement and storage of goods. Logistics technologies such as robotic warehouse systems make automation a reality, while drones improve last-mile delivery capabilities and better tracking with tools like RFID tags improve visibility throughout the supply chain. Warehouse Efficiency

The Coming Age of Cognitive Supply Chains

Enterra Insights

Digitalization not only increases the amount of data being generated it increases the speed at which business is done. ”[1] In fact, speed and agility apply to all aspects of business operations, not just interactions with consumers. ”[2] The explain, “Traditional supply chains, reliant on manual processes, simply cannot keep up with the pace of today’s market; the processes for balancing inventories and forecasting used ten years ago are quickly overwhelmed.

26 supply chain pros reveal the single most effective way to create a winning supply chain strategy

6 River Systems

However, even with a growing number of innovative technologies at your fingertips, your success still depends on your strategy. To help you determine what tactics, processes, technologies and practices are a must-have in a winning supply chain strategy, we reached out to a panel of supply chain professionals and asked them to answer this question: “What’s the single most effective way to create a winning supply chain strategy?” Warehouse Efficiency

The Global Supply Chain is Evolving – Are you ready?

MAVES

The global supply chain is evolving every day, adding complexity to the roles of shippers and their third-party logistics providers (3PLs). Companies that manufacture and distribute goods are relying more and more on the agility of their 3PL partners to provide the appropriate services to keep their supply chain efficient and their customers happy. Instead of fighting this change 3PL’s must embrace this in their business services. Advanced Analytics / Metrics.

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50 expert tips on supply chain management

6 River Systems

The COVID-19 pandemic caused unprecedented global supply chain disruptions, impacting the flow of parts and finished goods around the world. At the same time, supply chain disruptions resulted in shortages of vital parts and components, and retailers such as grocery stores faced challenges keeping items like toilet paper, hand soap and sanitizer and disinfecting wipes on their shelves. Maintain a culture of compliance, even in times of crisis. Warehouse Management

50 Most Read Articles of All Time in Manufacturing, Supply Chain, Logistics, Transportation, & Freight

Cerasis

Since today is the last day of the year before we all get ramped up towards a productive 2016 and after finishing out top 10 most read articles in each of our five main categories ( Manufacturing , Supply Chain , Logistics , Transportation , & Freight ) we wanted to give you all a treat and list the top 50 most read articles of all time from the Cerasis blog. 50 Most Read Articles of All Time From the Cerasis Blog. What are The Elements of a SWOT Analysis?

Data, Cognitive Technology, and Industry 4.0

Enterra Insights

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. We are at the cusp of a fourth industrial revolution driven by artificial intelligence, robotics, and web services. 1] One element of Industry 4.0 as a way of improving operations.

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5 Seismic Shifts in Supply Chain Technology!

Supply Chain Game Changer

Lora Cecere is Founder and Chief Executive Officer of the research firm Supply Chain Insights at [link]. Here are five fundamental shifts in supply chain technology that companies need to be aware of: Redefinition of decision-support software. Decision support includes all forms of planning: demand, supply, revenue, manufacturing, and transportation. There is currently a lot of noise in this market. Disintermediation of business process outsourcing (BPO).

Why A Successful Transportation Management Program Is Empowered By Data

Cerasis

This is the 7th post in this series that first started by giving an overview of the 10 areas shippers can turn to stay strategic. We then are going in depth on each of the 10 listed. The first 5 were as follows: 6 Strategic and Proactive Tips to Stay Ahead of Distressed Shipments. Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency. 6 Benefits of Applying Useable Data in Logistics For Continuous Improvement. Metrics.

Attracting Millennials in the Supply Chain Means Getting Your Digital Supply Chain In Order

Veridian Solutions

As explained by Brian Barry of Multichannel Merchant , millennials make a growing cross-section of the American labor force. In fact, millennials will make up more than 75 percent of the workforce by 2025, so it is time for supply chain executives and leaders to enact the changes necessary to guarantee success in both the current and future supply chain. To stay successful, the supply chain section needs an infusion of approximately 270,000 new faces per year.

Supply Chain Visibility Technologies: What’s Driving Retailers to Implement More?

Veridian Solutions

An entire array of supply chain visibility technologies, ranging from the Internet of Things (IoT) to big data analytics, empower supply chain leaders to make informed decisions. Supply chain leaders need to understand the challenges driving the adoption of such technologies, their benefits, and a few tips for implementation. Supply chain visibility technologies increase the level of oversight and accuracy within the supply chain.

Building Outside-In Processes

Supply Chain Shaman

The concept of being on and available all the time– 24/7– wears on me. As I sat on the cold floor holding the pieces together to enable small hands to slowly position the legs of the monster into the imaginary pelvis, Jake would caution me to let him do the work. When Jake clapped his hands in glee upon completion of the monster, my hands were numb. When my hands grasp objects for a period of time, the fingers tingle and go to sleep. Voice of the Customer.

Logistics Simplified: Two Keys to Solving Your Supply Chain Problems

Material Handling and Logistics

The solutions to supply chain problems boil down to the right combination of three factors—technology, data and processes. Fundamentally, the solutions to supply chain woes boil down to the right combination of three factors—technology, data and processes. Here’s how that would be applied to three of the top supply chain problems. Rather than the constant headache of battling with archaic equipment and resolving distractions, workers can focus on their responsibilities.

Takeaways From Gartner’s Top 25 Supply Chain Rankings 2017

Shipsy

With an ever increasing focus on innovation and efficiency in the supply chain, Gartner’s Top 25 Supply Chain Rankings 2017 threw up a host of interesting takeaways. While the report provides a global ranking, what would be interesting in an Indian context would be the best practices and areas of focus that have enabled these companies to use their supply chains as competitive differentiators. Cost of goods sold/quarterly average inventory Revenue growth?—?Change

LEAN throughtout the Supply Chain

The Lean Supply Chain

Supply Chain management is one of the main disciplines of any economic sector from manufacturing to distribution to retail. The life cycle of the product is an important consideration as it moves along the supply chain. Processes included in the “clarification” of wine comprising racking, fining, filtration, and refrigeration are also an important part of this stage in order to purify the wine output.

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