This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Are you making the fatal mistake of underestimating the importance of inventory rebalancing? Many retailers treat inventory management as a mundane task rather than a strategic lever for success. It’s about strategically adjusting your inventory levels across locations and products in response to real-time customer demand.
Financial crises, global tensions, supply shortages, technological innovations, and regulatory changes are inevitable we just cant predict when theyll strike. This uncertainty makes dynamic inventory replenishment optimization essential for business success. Disruptions in the supply chain happen with surprising regularity.
In the competitive industrial landscape, efficient spare parts inventory management is crucial to maintaining seamless operations and driving profitability. In this sector, the ability to provide timely and reliable spare parts can make or break a company’s reputation.
For example, with a data gateway, a supply planner gains accelerated access to customer orders, inventory levels, and transportation schedules, all in one place, to increase the user experience of making the right choice to identify inefficiencies and make better, more informed decisions.
Just-in-time supply chains worked just fine — until they didn’t. Is more inventory the answer? Read this latest GEP paper to learn how enterprises can ensure adequate supplies without running excess inventory. It’s not a binary solution.
But change management is significantly more difficult when the technology deployed is used not just internally, but also by key trading partners. They gain visibility into whether a supplier can fulfill the complete order in the requested time frame or not. People issues are always challenging. But getting there was not easy.
Today the question is not just When is the next disruption coming? Artificial intelligence (AI) is not just a buzzword; it has become a critical competency for supply chain and logistics teams today. Five years ago, we all thought the COVID-19 pandemic resulted in the most disrupted supply chain landscape we would ever see.
For example, with a data gateway, a supply planner gains accelerated access to customer orders, inventory levels, and transportation schedules, all in one place, to increase the user experience of making the right choice to identify inefficiencies and make better, more informed decisions.
They follow “if-this-then-that” (IFTTT) logic, meaning that when certain conditions are met, the contract automatically executes an agreed-upon action, such as releasing a payment, updating an inventory record, or verifying a shipment. Inventory counts often require manual audits, which are time-consuming and prone to mistakes.
It’s a supply chain execution technology that recognizes companies today operate as multi-party ecosystems, and that transport management activities are just one component of high-functioning supply chains. In the aftermath of the pandemic, supply chain inadequacies have been revealed in a new and stark light.
Excess inventory weighs down supply chains. These inefficiencies inflate costs and slow response times when customer needs change. Manufacturers are shifting to on-demand production to align output with real-time demand. The Hidden Costs of Traditional Inventory Models Traditional inventory models were built for predictability.
Smart energy management systems further enhance efficiency by tracking and optimizing energy use in real-time. In today’s interconnected global economy, sustainability within supply chains and logistics has become a necessity rather than an option. Warehousing operations also offer opportunities for sustainable transformation.
Picture this: You’re a warehouse manager, and with a few taps on your smartphone, you instantly know the exact location and quantity of every item in your inventory. That’s not science fiction—it’s the power of mobile inventory management. Ready to turn your inventory from a headache into a strategic asset?
Theres no shortage of commentary on how companies should respond move production, shift suppliers, and reconfigure operations are just a few common recommendations. The reality is, you cant just uproot a manufacturing facility and move it overnight, as if it were the floating house in the movie Up, carried away by a bunch of balloons.
Many organizations are now realizing that resilience is not just a supply chain add-on; it’s a fundamental capability. Leading organizations are building supply chains that are less exposed to single points of failure, more informed by real-time data, and more able to adjust sourcing, inventory, and routing based on current conditions.
However, the juice for my newfound nightly routine soon became difficult to find, perpetually out of stock each time I tried to purchase it at the grocery store. With tart cherry juice sales transitioning into a steady demand pattern, retailers must adapt their inventory strategies accordingly to meet this evolving consumer preference.
My advice,” he concluded, “is just jump in. Business Network Takeaways While Business Network rolls up into the spend management product development organization, the trading partner collaboration this platform covers extends beyond just sourcing. With that level of investment, one would expect an aggressive product buildout.
They are no longer just vendors of goods and services. Below is a checklist of key actions to follow: Dedicate Time to Supplier Relationships Reallocate time and prioritize direct engagement with key suppliers. For instance, suppliers may have strong Vendor Management process expertise that will help reduce working capital.
If the team just delivers something to regional executives and they’ve had no input, they question the results. In terms of resilience, the goal is to reduce lead times and increase service levels. This French public multinational was selected as having the best global supply chain by a leading analyst firm.
Volatile markets, global disruptions, and the need for real-time insights are pushing traditional systems to their limits. data extractors, search APIs) to perform tasks, enabling them to dynamically adjust to new information and real-time knowledge sources. Typically, these systems consist of standard-task agents (e.g.,
Balancing forecast accuracy with inventory management gets more challenging every day. Artificial intelligence (AI) and rapidly developing generative AI tools provide complex, real-time, and in-depth insights specific to supply chain management. Traditional approaches often divide departments like sales, marketing, and production.
Once upon a time, the world of manufacturing was a relatively stable place. Suddenly, managing inventory is the name of the game for companies trying to manage working capital and maximize profit while keeping customers happy. And that’s where real-time perpetual inventory signals come in. Let’s take a closer look.
In conventional supply chain planning , planners using basic tools (typically spreadsheets or legacy systems) forecast just one number for each item. In modern distribution networks, meeting service levels requires getting precisely the right inventory to the right locations at the right time.
In todays unpredictable business environment, inventory is no longer just a cost centerits a strategic asset. And with volatility comes the need for smarter, faster, and more flexible inventory management strategies. And with volatility comes the need for smarter, faster, and more flexible inventory management strategies.
As Black Friday rushes past, you may be reviewing your inventory performance, especially if certain items sold out too fast or if slow-movers are now taking up too much space. Even worse, maybe you did have inventory in your network, but it was in the wrong location to meet customer demand.
Throughout this process, a single part may cross borders several times before becoming part of a finished vehicle. For example, aluminum raw material is cast into a piston in Canada, then shipped to Detroit for machining incurring a 25% tariff based on the piston’s value. without additional tariffs under the USMCA agreement.
Tactical forecasts often focus on product families or categories, but operational performance is determined by SKU-level decisions, location-specific constraints, and time-sensitive actions. Optimization Advanced modeling of real-world constraints like capacity, lead times, and inventory ensures efficient execution.
Traditional procurement, with its long-term contracts and rigid supplier ties, just isnt cutting it anymore. Strategic moves like bulk buying, closer supplier partnerships, and syncing procurement with supply chain planning can tighten inventory, cut waste, and free up cash. What Is Agile Procurement?
To improve their operations, they installed autonomous mobile robots in their warehouse. According to a survey of 250 global companies by the consulting firm McKinsey, 91% of shippers and 75% of logistics service providers have implemented a warehouse management system. There is a lag before smaller companies begin to implement the technology.
Your Aftermarket Supply Chain is More Complex Than You Think: Stop Guessing, Start Optimizing Lets be honest: managing spare parts inventory requires specialized strategies unlike any other inventory management process. Suboptimal inventory distribution: excessive stock in low-demand locations and shortages in high-demand areas.
Don’t just talk about variability. A waste of time. Don’t waste time grumbling about it, just accept it for what it is. Don’t waste time grumbling about it, just accept it for what it is. At that time, there was no email. Price increases. Ocean booking cancellations. Focus here.
As you would expect, major emphasis was placed on the role of AI to deliver accurate, timely, and improved decisions at all points of supply chain processes using a combination of human-to-AI agent and agent-to agent collaboration. We are a quarter of the way into the 21 st century and many supply chain practices are still behind the times.
It leverages historical data, competitive intelligence, and external factors to guide inventory planning and resource allocation. Take Shamir Optical , for example: by automating planning decisions, they scaled operations across 20 locations each with 35,000 SKUswithout adding to their team of just three planners.
It leverages historical data, competitive intelligence, and external factors to guide inventory planning and resource allocation. Take Shamir Optical , for example: by automating planning decisions, they scaled operations across 20 locations each with 35,000 SKUswithout adding to their team of just three planners.
When we compare the companies listed on the Gartner Top 25 to peer group results for the period of 2013-2023, we find that 59% of the listed companies score below their peer group on year-over-year growth, 41% below their peer group on inventory turns, and 41% fall below their peer group on Return on Invested Capital (ROIC). Does it matter?
Even more impressive, lost sales due to stockouts can decrease by up to 65%, while inventory reductions of 20% to 50% are possible. This advanced analysis allows businesses to predict promotional lift with unprecedented accuracy, ensuring optimized production schedules and inventory positioning through sophisticated supply planning.
Your Aftermarket Supply Chain is More Complex Than You Think Lets be honest: managing spare parts inventory requires specialized strategies unlike any other inventory management process. Suboptimal inventory distribution: excessive stock in low-demand locations and shortages in high-demand areas. The outcome?
But rip and replace is expensive, time consuming, and risky. Their large footprint stores sell a wide variety of goods besides just healthcare items. Instead of rip and replace, why not just augment the existing solution? That means different things to different people. Isn’t there a better way? Walgreens thought so.
My client attempted to have a supply chain discussion to improve flow, and his executive group just did not get it. I was promoted to run the warehouse, and at the time, I had no experience in distribution, but was asked to run the largest distribution center in the system. Sometimes, this is a tough discussion. Yes, I am that old.)
Supply chains are no longer just a businesss logistical backbonetheyre the frontline where competitive advantage is won or lost. Good enough just wont cut it anymore no matter the size of your business, as Markus Malinen , EMEA Vice President at Logility, puts it. Malinen isnt alone in this line of thinking.
Inventory is the lifeblood of any manufacturing business. By leveraging analytics and key performance indicators (KPIs), manufacturers can optimize inventory, reduce waste, and boost profitability. Tracking inventory flow and performance across your supply chain is a must. Why is Average Time to Sell important?
Morning woes I have just had one of those mornings. There was no time to waste so the yellowed William & Kate souvenir tablet had to be sacrificed. I missed the alarm and the 10-minute snooze and from then on everything went downhill. So, soaking wet I get out, but can I find anything remotely soapy?
In the automotive sector, manufacturers are simultaneously reducing inventory costs and delivery times. An efficient procurement process optimizes vendor selection and purchasing decisions to maintain cost-effective inventory levels. Streamlined operations: Ensuring smooth, uninterrupted flow from suppliers to customers.
We organize all of the trending information in your field so you don't have to. Join 102,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content