Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

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. The implementation of NoSQL for inventory management gives them an inventory signal with little to no process latency.

Modeling 206

Modeling Supply and Demand Optimal Sourcing Supply Chain Planning Software 206

Logility

MARCH 21, 2024

During this time, the same AI tools that underwrite new technologies have been key in improving efficiency and optimizing all areas of logistics and supply chain processes including forecasting, supply planning, inventory management, manufacturing, network optimization, and more.

Optimal Sourcing 226

Optimal Sourcing Supply Chain Planning Software Modeling Software Inventory Reduction 226

SCMDOJO

AUGUST 4, 2023

Are you tired of dealing with excessive inventory levels that eat up your storage space, tie up your capital, and hinder your company’s growth? If so, then it’s time to consider the numerous benefits of reducing inventory. Inventories are designed to match customer(s) demand. The same applies to inventory reduction.

Inventory Reduction 90

Inventory Reduction Material Savings Cost Reduction Strategies Waste Reduction 90

Supply Chain Shaman

SEPTEMBER 28, 2022

Last week, after booking an additional $1B in unexpected supplier costs in the third quarter, the CFO led the company’s focus on restructuring to “support efficient and reliable sourcing of components and internal development of key technologies and capabilities.” Multi-tier inventory management by itself was not sufficient.

Manufacturing Procurement 195

Manufacturing Procurement Supply Chain Design Software Network Design Software Supply Chain Planning Software 195

Logistics Viewpoints

OCTOBER 12, 2023

The same “If” statement was repeated for a host of financial and operational metrics. The following will delve into some of the intricate farm-to-table challenges that supply chains face across sourcing, demand planning, procurement and inventory management, transportation, and warehousing.

Supply Chain Design Software 228

Supply Chain Design Software Supply Chain Design Supply Chain Planning Software Supply Chain Planning 228

ShipBob

NOVEMBER 24, 2023

The root of many inventory management challenges lies in treating all stock equally—when in reality, each item should be assessed and segmented individually. This is where inventory segmentation can help. It’s a strategy that categorizes inventory based on factors like demand patterns, lead time, value, and more.

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Sourcing Strategies Inventory Management Software 52

GlobalTranz

APRIL 25, 2016

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?". Review Inventory turns and Return on Assets.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

EazyStock

OCTOBER 10, 2018

Variety – The different forms of data sources. The real value businesses receive from big data is the ability to analyze data trends in real-time and accordingly extract critical data for management and operations. 4 Ways Big Data is Changing Inventory Management. Veracity – The uncertainty of data accuracy.

Inventory Management Software 45

Inventory Management Software Big Data Inventory Management Supply Chain Planning Software 45

Logistics Viewpoints

JUNE 29, 2023

Here is a summary of the key supply chain characteristics of each of the manufacturing strategy and how it impacts collaboration with suppliers. By effectively addressing the challenges in PO Collaboration, organizations can mitigate disruptions, reduce costs, improve operational efficiency, and gain a competitive edge in the marketplace.

Manufacturing Procurement 185

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 185

SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. This data can be used to identify areas for improvement and make informed decisions about sourcing, production, and distribution.

Optimal Sourcing 74

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 74

Precoro

JULY 16, 2023

In other words, the purchasing manager is responsible for securing inventory requirements within the company’s budget and overall efficiency of the company’s purchases. We have selected 5 fundamental KPIs that purchasing managers should consider.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Enterra Insights

JUNE 25, 2019

For the last few years, inventory shrinkage has annually cost U.S. ” Regardless of how inventory is lost, shrinkage costs retailers a lot of money. To reduce shrinkage, retailers need to have a strategy to address each of the ways inventory can be lost. Inventory shrinkage strategies. Somewhere between 1.5%

Inventory Reduction 100

Inventory Reduction Cost Reduction Strategies Inventory Vendor Strategies 100

Supply Chain Shaman

FEBRUARY 14, 2022

Orchestration enables companies to effectively manage trade-offs between source, make, deliver and sell.) Companies tightly coupling the budget to S&OP have significantly higher inventories and lower growth than their peer group. Industries carried on average 32 days more inventory in 2020 than in 2007. (I Mistake #3.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

SYSPRO Smarter ERP

APRIL 24, 2023

The Association for Supply Chain Management’s Supply Chain Operations Reference (SCOR) model provides seven primary processes that will ensure order fulfilment is carried out properly and efficiently — Orchestrate, Plan, Order, Source, Transform, Fulfill and Return.

Optimal Sourcing 105

Optimal Sourcing Sourcing Strategies Supply Chain Planning Software Modeling 105

Taulia

JULY 5, 2021

As demand for the movement of goods across the globe and rapid delivery expectations become the norm, businesses seek ways to simplify their supply chain management. VMI streamlines inventory management and order fulfillment, benefitting both suppliers and buyers. What is Vendor Managed Inventory?

Vendor Strategies 52

Vendor Strategies Inventory Reduction Inventory Optimal Sourcing 52

Unleashed

FEBRUARY 4, 2024

For retailers, inventory is more than just a list of products: It’s also the mainstay of your retail operations, the source of your revenue, and the foundation of customer satisfaction. Retail inventory management is therefore the key to managing inventory costs and movements effectively.

Inventory Management Software 52

Inventory Management Software Inventory Management Inventory Reduction Forecasting Software 52

Unleashed

APRIL 21, 2024

The first step in a standard order processing system is the verification of a customer order which often includes a check to confirm there is sufficient inventory available to fulfil the order. Once confirmed, the ordered items are picked from your inventory, sorted, packed, and shipped to the customer.

Inventory Management Software 52

Inventory Management Software Analytics Software Supply Chain Design Software Demand Planning Software 52

SYSPRO Smarter ERP

MARCH 28, 2024

If production metrics are important, you may want to get data on: Machine and labor availability. Defect rates for quality management. How to apply metrics One challenge is deciding what metrics to use. Different departments have their own data needs and very specific metrics. Machine performance and downtime.

Manufacturing Procurement 52

Manufacturing Procurement Supply Chain Planning Software Optimal Sourcing Optimization Software 52

Unleashed

JANUARY 29, 2024

Stock-keeping-unit (SKU) rationalisation is an inventory management method for improving the performance and profitability of your business. As a business strategy, SKU rationalisation helps you to reduce business costs, improve inventory management, increase operational efficiency, and enhance your brand image.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 52

OptiProERP

APRIL 9, 2024

Order management involves creating, processing, and tracking orders, ensuring they align with customer expectations and organizational capabilities. Integration with inventory management systems is crucial to accurately confirm product availability and delivery timelines. OptiProERP was the clear winner.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Inventory Management Software 52

Supply Chain Matters

OCTOBER 12, 2022

Indicated in the report summary was: “ The sustained growth in the logistics industry continues to be fueled by high levels of inventory and the associated levels of cost and utilization associated with holding them. According to the September report , growth is increasing for inventory levels, inventory and warehousing costs.

Inventory Reduction 59

Inventory Reduction Cost Reduction Strategies Warehousing Price Reduction 59

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Breaking Boundaries: Exploring Generative AI’s Impact on Supply Chains Supply chains encompass many interconnected activities, from procurement, production, and inventory management, to logistics and distribution. These activities involve numerous stakeholders, such as suppliers, manufacturers, distributors, and retailers.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

ToolsGroup

AUGUST 20, 2019

Gartner says that the most common outsourced SCP processes are inventory management, statistical forecasting and service parts planning. Companies moving to BPO in these practice areas are experiencing supply chain improvements in metrics such as inventory turnover and customer service. versus $4.84

Supply Chain Planning Software 214

Supply Chain Planning Software Supply Chain Planning Gartner Supply Chain Software 214

QAD

JUNE 20, 2023

Operations and manufacturing managers always look at metrics on productivity, schedule adherence, downtime and other critical production data. They can collect data on production processes, inventory levels, machine performance and other relevant metrics. It also enables better demand forecasting and planning.

Optimal Sourcing 90

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Manufacturing Procurement 90

Supply Chain Matters

FEBRUARY 7, 2024

We believe that these inventory management, customer and last-mile fulfillment strategies will have industry wide implications in terms of competitive stakes and cost-to-serve. Across the United States , Amazon elected to change its former predominant west to east coast hub based inventory and fulfilment distribution network.

Supply Chain Network Software 52

Supply Chain Network Software Inventory Reduction Cost Reduction Strategies Inventory Management Software 52

Taulia

OCTOBER 20, 2021

This encompasses sourcing raw materials from suppliers, the movement of materials through the relevant manufacturing operations, and the distribution of finished goods to consumers. While every company will have different priorities, a number of metrics can be used to measure supply chain efficiency. Inventory management.

Sourcing Strategies 105

Sourcing Strategies Optimal Sourcing Supply Chain Software Supply Chain Optimization 105

Talking Logistics

APRIL 29, 2015

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing?

Sourcing Strategies 100

Sourcing Strategies Sourcing Transportation Cost Reduction Strategies 100

Taulia

AUGUST 29, 2023

For example, a digital SCM platform can simplify supplier management and offer increased supply chain visibility while also offering centralized access to solutions like supply chain finance (SCF), which they can use to strengthen their working capital position. Source suppliers strategically Supply chains are ultimately made up of suppliers.

Supply Chain Planning Software 52

Supply Chain Planning Software Material Savings Optimal Sourcing Sourcing Strategies 52

SYSPRO Smarter ERP

NOVEMBER 3, 2021

Industries experienced severe operational and financial consequences with issues like supply shortages, supply and demand surges, inventory shortfalls and reduced productivity. can be measured to define this metric. In fact, SYSPRO research revealed that 60% of businesses were impacted by supply chain disruptions during the pandemic.

Manufacturing Procurement 105

Manufacturing Procurement Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain 105

SYSPRO Smarter ERP

MARCH 2, 2022

This means that the past practice of just-in-time inventory management will need to be more flexible and allow a just-in-case approach. Just-in-case involves holding more inventory so that sales are not lost due to inventory being unavailable. Risk management. Resiliency. Digital transformation of procurement.

Optimal Sourcing 116

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Supply Chain Software 116

Logility

JUNE 7, 2023

Accurate demand forecasts can empower a business to optimize its production schedules, manage its inventory efficiently, and minimize waste, which can lead to improved profit margins. Accurate demand forecasting allows for better inventory management, fewer stockouts, and shorter lead times.

Supply and Demand 130

Supply and Demand Demand Planning Software Forecasting Software Forecasting 130

Supply Chain Opz

AUGUST 2, 2018

From the most basic to the most advanced organization, Inventory Optimization is a critical goal and one which underpins the effectiveness of the supply chain operation. Inventory Optimization requires an organization to sustain and maintain the right mix of cost versus service.

Optimal Sourcing 100

Optimal Sourcing Modeling Optimization Software Inventory Reduction 100

Precoro

SEPTEMBER 4, 2023

Morgan Working Capital Index 2020 , there is significant capital trapped in the form of working capital that can become a vital source of additional liquidity for corporations. By learning how to calculate it and change it to their advantage, companies can accelerate cash inflow and free up money that would otherwise be tied up in inventory.

Optimal Sourcing 59

Optimal Sourcing Negotiate Pricing Inventory Reduction Material Savings 59

Elementum

FEBRUARY 7, 2024

Inventory Management: Precision and Efficiency through Automation AI and ML transform inventory management by predicting stock levels, automating reorder processes, and optimizing warehouse organization. Performance Metrics When looking at performance metrics , they must reflect efficiency gains and throughput increases.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

OptiProERP

FEBRUARY 8, 2024

Wire Arc Additive Manufacturing (Now DED-arc): Wire Arc Additive Manufacturing utilizes arc welding power sources and manipulators to construct 3D shapes through arc deposition. It typically employs wire as a material source, following a predetermined path to shape the desired form, often utilizing robotic welding equipment.

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Optimal Sourcing Supply Chain Design Software 52

Supply Chain Opz

MARCH 26, 2015

What is Inventory Control? Here we will try to answer most common questions about Inventory Control and also provide additional resources you can use. What is Inventory Control? Inventory control often starts with how to know the demand of particular product. What is the Best Forecasting Model?

Inventory Reduction 113

Inventory Reduction Inventory Forecasting Manufacturing Procurement 113