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Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH.

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Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

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Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

How AI Solves the Riddles of Inventory Management

Aera Technology

by Kaushal Dave, Vice President of Cognitive (AI) Solutions, Aera Technology The problems that pervade inventory management are well known: Excess inventory languished in warehouses, tying up millions of dollars in working capital. Multinationals employ thousands of planners and spend millions of dollars on alphabet soup of software to manage inventory and other links in the supply chain, from ERP, MES, MRP, CRM and WMS to planning and logistics tools.

Warehouse Cost Savings: 5 Key Areas of Focus and 13 Practical Objectives

Cerasis

A Director of Operations, Warehouse Director or Manager, or even the Director of Supply Chain or Logistics, are always in the pursuit of continuous improvement as well as warehouse cost savings in both time and money. With the myriad of tasks and personell, a director or manager must oversee, how on earth are they to get everything done? 5 Key Areas to Focus on in the Pursuit of Warehouse Cost Savings. Implement Vendor Management System (VMI).

Logistics Cost Reduction: 6 Focuses to Create More Profit

Cerasis

This is the first of a two-part series where I will curate and cull information from my 4 decades of experience in logistics cost reduction at various positions in the supply chain. According to the CSCMP's "State of Logistics" Report from 2015, logistics costs now make up over 8% of the GDP. Any percentage less for your business with logistics costs as a percent of your revenue, goes straight to the bottom line. . Logistics Cost Reduction by Focusing on Safety.

How to Get a Job in the Supply Chain Sector

Logistics Bureau

And now let us examine the reasons why a career in logistics offers so much diversity to so many workers. It touches many departments, from production, procurement, shipping, accounting, and finance to marketing, warehousing, research and development, and sales. Data Managers.

The 3 Biggest Problems Your Logistics Teams Will Face in Q4 and How to Solve Them with On-Demand Warehousing

FLEXE

Aside from that being one of your busiest times of the year, the movement to eCommerce and omnichannel shopping has made accurate demand planning impossible and inventory allocation harder than ever. Between inventory fluctuation and seasonality, making it all fit when it needs to, and general supply chain disruptions, there’s a lot to plan throughout the year. Consider this: Roger works in logistics for an omnichannel retailer. Instead, it turned to on-demand warehousing.

Why is Supply Chain Such a Great Career Path?

Supply Chain Game Changer

What is Supply Chain Management (SCM)? As such it was many years before I actually heard of the term “Supply Chain Management” Regardless I pursued my interests and took on an increasingly diverse set of progressive jobs as time went on. Now as I look back on my career virtually everything I did falls under the banner of Supply Chain management. Some people are motivated by opportunities to manage, lead and get promoted. Subscribe Here! Email Address.

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Top 8 Online Logistics Tools For Logistics Professionals

Cerasis

Logistics professionals require exemplary international online logistics tools to help them carry out their daily businesses with ease and deliver the best for their customers. Mobile phones can offer incredible services in any business from inventory tracking and shipments to the execution of procurement transactions. Top 8 Online Logistics Tools For Logistics Professionals. This optimization tool for inventories is cloud based. Logistics

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This Week in Logistics News (October 8-12, 2018)

Talking Logistics

The VP of Supply Chain and Logistics at our house (aka my wife) has been out of the country this week. I have to go to the grocery store again today to replenish our inventory (yeah, I don’t shop for groceries online; as the son of a bodegero, I’m old fashioned that way.). Alexa Heads to the Warehouse (WSJ – sub. Transplace Acquires Yusen Logistics’ Intermodal & Freight Brokerage Group. Hurricane Michael: How Can Logistics Professionals Help?

What Exactly Is Supply Chain Management? 10 Different Definitions!

Supply Chain Game Changer

Check out What Exactly Is Reverse Logistics? When I began my career there was no such thing as “Supply Chain Management” Supply Chain was not a title to be found anywhere on any organization chart. Yet all of the functions that we now associate with Supply Chain have been around for a very long time: Planning, Inventory Management, Logistics, Procurement and Purchasing, Warehousing and many more. Subscribe Here! Email Address.

20 warehouse professionals and business leaders reveal the single most important first step when designing a warehouse layout

6 River Systems

There are many factors to consider when designing a warehouse layout, and every design decision can have a significant impact on operational efficiency. Curtis Barry & Company , labor comprises more than half of a warehouse’s total operations costs. A poorly designed warehouse floor plan means warehouse associates must walk longer distances to accomplish tasks, resulting in wasted time and resources. Warehouse requirements do not denote storage alone.

5 Best Logistics Books for Beginners

Supply Chain Opz

Are you a beginner and you want to learn about each logistics function? We will show you 5 logistics books that will help you learn faster than any other books. Why is Logistics a Good Career? In the United States, the median wages for a Logistics Manager is around $90,000 annually. So, the career in logistics management can be very lucrative if you have a career plan and keep on developing yourself. Journal of Business Logistics, 38(1), 35-54.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Supply Chain Game Changer

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. What are the risks that Supply Chain people deal with every day and what is Supply Chain Risk Management? Supply Chain Risk Management. Inventory Performance. Subscribe Here!

Overcome Foodservice Disruptions: Focus on Technology, Service Networks, and Transportation

CH Robinson Transportfolio

While inventory levels and demand requirements continue to remain irregular, the most successful companies focus on technology, service networks, and expedited transportation options to overcome challenging market conditions. Logistics services support changing volumes.

5 Reasons Why You Should Go for Paperless Warehousing

Vinculum

Warehousing is critical in movement of goods from manufacturer to the end customer. Whenever we come across this term ‘Warehouse’, we imagine a big closed place which is used for storage of the goods to be transported, whether inbound or outbound, trucks moving to and fro, lot of labourers would be working etc. The Indian warehouse market was worth INR 561 Billion in 2018. To cater this market demand investors are investing heavily in warehousing projects.

13 Amazing Logistics & Supply Chain Mobile Applications

EazyStock

To stay ahead, tech-smart operations, savvy professionals are using logistics and supply chain mobile applications as must-have tools for operational excellence. These apps help companies achieve every business process from tracking inventory and shipments to booking meetings with clients to tracking tasks and projects. In this blog, the team at EazyStock will be showing you the most exciting logistics and supply chain mobile applications that will make your job even easier.

What is Inbound Logistics and How Can a 3PL Help?

Kanban Logistics

What is inbound logistics? See, there’s a big difference between handling inbound logistics yourself and outsourcing it to a trusted North Carolina third-party logistics (3PL) provider that knows the manufacturing industry. What is inbound logistics?

The Last Mile Really Does Begin with the First Pick From Your Warehouse

Veridian Solutions

Supply chain leaders that wish to excel in last mile need to understand why the real value begins with this very first point and how effective first mile management enhances the entire process. As explained by Supply Chain 24/7 , digitalization of the logistics industry, including warehousing, continues to drive the market. How Procurement Contributes to Improved, End-to-End Supply Chain Efficiency. In a sense, it’s all linked to effective inventory management.

Use of Blockchain in Supply Chain & Logistics: Looking to Examples Across Industries for Better Understanding

Cerasis

The days of managing supply chains through databases and changing information are over. Although blockchain is often related closely to cryptocurrency, it holds great value for use in supply chain management. Use of Blockchain in Supply Chain and Logistics Will Put Certain Departments at Risk As explained by Connor DiGregorio of Industry Week , blockchain technology carries a degree of risk for traditional supply chain departments. Blockchain Logistics Supply Chain

The Top 6 Reasons to Have a Good Inbound Logistics Program

Cerasis

Most transportation costs in a company arise from inbound logistics cost. If other words, the costs associated with transportation of items from vendors make up the biggest portion of will transportation costs, reports Amy Roach Partridge of Inbound Logistics. Part of the problem lies in misconceptions around inbound logistics, including manual, data-intense processes and added stress. Better Visibility Leads to Effective, More Accurate Inventory Management.

Third Party Logistics Company

LeanCor

When dealing with the inherent complexities of supply chain logistics, many companies come to a point when they may wish to use a third party logistics company to manage their supply chain. While outsourcing supply chain management is usually less costly than managing it yourself, there are other factors that should weigh in on the decision. The result is usually more cost-effective than managing your own supply chain.

The Difference Between Logistics and Supply Chain Management

My Office Apps

The Difference Between Logistics and Supply Chain Management. Most people assume that logistics and Supply Chain Management (SCM) refer to the same process. So, how did the concepts of logistics and Supply Chain Management become so intertwined in their use when they mean very different things? Read on for a differentiation of logistics and SCM, and an overview of a cloud-based ERP software that helps streamline both processes. What is Logistics?

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Featuring Our 10 Best Warehouse Order Fulfillment Articles!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Our latest “Featuring” series article covers the topic of Warehouse and Distribution Centre order fulfillment. So take some time and check out our very best Warehouse and Distribution Centre fulfillment articles! Keys to Success in Warehouse Management / Order Fulfillment! Keys to Success in Warehouse Management/Order Fulfillment! Warehousing: Optimize Storage Locations!

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50 expert tips on logistics planning and strategy

6 River Systems

As the biggest players in fulfillment, distribution and omnichannel retail continue to push boundaries, logistics and planning strategists are forced to innovate. Luckily, the current movers and shakers of the logistics and supply chain world are all too happy to dole out sage advice in the form of blog posts, interviews, podcasts — you name it. Logistics strategies for streamlined fulfillment. Logistics personnel and supplier management pointers.

Using Lean to Manage Inventory!

Supply Chain Game Changer

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits. What is Lean Inventory Management? Pull (Lean principle: Kanban) : Move inventory only when requested by a customer.

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Flying Warehouses! And Mobile Fulfillment Centers that Exist Today

FLEXE

Illustrations in the filing show a flying warehouse, which would remain at high altitudes as drones fly back and forth between the warehouse and nearby shipping destinations. The flying warehouse is designed to do things like hover over stadiums and restock concession stands in real-time. Leading e-retailers are using pop-up fulfillment centers to augment their supply chain to do similar things as the flying warehouse might do. The post Flying Warehouses!

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

What is Logistics Management Software? Logistics Management Software is one that helps drive the logistics function of an organization by managing the actual flow of materials, goods, and services from the point of origin to the point of consumption. 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.

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

What is Logistics Management Software? Logistics Management Software is one that helps drive the logistics function of an organization by managing the actual flow of materials, goods, and services from the point of origin to the point of consumption. 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.

Logistics Management Software – A Complete Handbook for Manufacturers

ThroughPut

What is Logistics Management Software? Logistics Management Software is one that helps drive the logistics function of an organization by managing the actual flow of materials, goods, and services from the point of origin to the point of consumption. 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.

Green Logistics: How to deliver efficiently while minimizing carbon footprint

Abivin

Green Supply Chain Management is integrating environment-friendly and innovative strategy while planning the supply chain process. Source The process and involvement of logistics department in every organization have become an essential part to the economic development for a long time now. According to World Bank report, efficient logistics refer to transport, storage and conveyance of products to the ultimate consumers from the companies at minimal costs.

5 Quick Solutions for Simplifying Supply Chains

Unleashed

In an attempt to get back to supply chain basics, companies need to scrutinise their processes, from procurement through to storage and shipping. Sure, data is king when it comes to helping forecast future demand and inventory stock needs but the ability to collect data is not always supported by the ability to filter and manage that data correctly. This activity will not only reduce the amount of traffic in warehouses but will also speed up processes.

This Week in Logistics News (September 15-19, 2014)

Talking Logistics

It’s clear from this week’s long list of news that the pace of change and innovation in supply chain management continues to accelerate. SAP Ushers in New Era of Collaborative Supply Chain Management. Infor Aligns With MercuryGate To Strengthen Transportation Management. Oracle Introduces New Cloud Solutions for Transportation and Global Trade Management. Menlo Logistics Opening New Multi-client Warehouse in Ladkrabang, Thailand.

36 innovative companies re-inventing and rethinking supply chain and logistics

6 River Systems

The world of supply chain and logistics is changing every day. With how quickly new technology, tips and warehouse management techniques are emerging, wouldn’t it be nice to take a page from someone else’s book? Each one is featured as having done something unique to reinvent their supply chain and logistics. In higher-traffic markets, Advance Auto Parts has “hub” stores that keep more inventory in-stock to give customers what they need when they need it.