SCMDOJO

MARCH 19, 2024

While Its primary purpose is to manage the entire process, from procurement to delivery, efficiently and cost-effectively, it also coordinates with production to automate processes and planning, etc. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel! Why do you need a structured Supply Chain Department?

Optimal Sourcing 74

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 74

SCMDOJO

APRIL 29, 2024

It encompasses activities such as procurement, supplier selection, and evaluation. Efficient production processes, quality control measures, and lean manufacturing techniques are crucial for optimizing productivity and minimizing waste. Warehousing: Warehousing involves the storage and management of inventory.

Supply Chain Planning Software 54

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 54

Supply Chain Shaman

OCTOBER 29, 2020

Inventory, in this time of uncertainty, is the organization’s most important buffer to protect against variability. However, organizations are not good at managing inventory. Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle.

Optimal Sourcing 235

Optimal Sourcing Supply Chain Design Software Waste Reduction Inventory Reduction 235

ThroughPut

OCTOBER 16, 2022

Inventory Optimization to Unlock Supply Chain Efficiencies with Cost Reduction. A recent survey shows that 40% of the supply chain industry is already optimizing its inventory and networking tools by adopting advanced technologies and this percentage is said to grow in the next five years. INVENTORY STRATEGY. DEMAND FORECASTING.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Inventory Management 52

Supply Chain Shaman

MARCH 18, 2018

Snow fell last night as I worked on my last Supply Chain Metrics That Matter report. The concept of the Effective Frontier is that best in class companies align functional metrics to balance growth, cost, inventory and Return on Invested Capital (ROIC) performance while balancing customer service metrics.

Optimal Sourcing 171

Optimal Sourcing Supply Chain Planning Software Supply Chain Optimization Supply Chain Design Software 171

SCMDOJO

DECEMBER 14, 2023

In supply chain management, total lead time is a crucial metric encompassing the period from customer order to delivery, be it in B2B or B2C scenarios. Procurement Lead Time: Efficient procurement lead time ensures timely access to raw materials, a fundamental step toward efficient production.

Inventory Reduction 75

Inventory Reduction Vendor Strategies Waste Reduction Cost Reduction Strategies 75

4WL Consulting

JUNE 12, 2015

This heightens the need for having a global procurement network which can support and respond to a company’s supply chain needs in a timely manner. However, many chief procurement officers claim that it is becoming more and more difficult to select a strategic supplier who offers consistent global quality and local service. #2

Agile and Lean Supply Chain 100

Agile and Lean Supply Chain Expense Reduction Inventory Reduction Resource Reduction 100

GlobalTranz

OCTOBER 21, 2015

Editor's Note: As of late you may have noticed we have written a lot about procurement and the future of procurement. A large part of procurement is finalizing the contract and then the follow through of the determined deliverables in that agreement. For example: Inventory Record Accuracy has to be 98-100% accurate daily.

KPI 120

KPI Negotiating Skills 3PL Optimal Sourcing 120

QAD

MARCH 9, 2023

Continual disruption is now the new normal, and it’s weighing on profitability and making it difficult for many companies to maintain lean, agile operations. Manufacturers had the flexibility to search for the lowest possible cost unit and could afford to run lean supply chains. That means looking at the right metrics.

Agile and Lean Supply Chain 93

Agile and Lean Supply Chain Supply Chain Planning Software Scenario Planning Modeling 93

QAD

AUGUST 12, 2021

Taking Ford as an example from the companies above, Ford is working with key suppliers in China, India, Thailand and South Africa to eliminate over 4,900 metric tons of CO2 and 24 million gallons of water usage over the next three years. Lean techniques have played a key role over the years to improve operational performance and save money.

Waste Reduction 98

Waste Reduction Resource Reduction Material Savings Inventory Reduction 98

Unleashed

AUGUST 20, 2023

Lead time is a vital business metric that directly impacts customer satisfaction, workflow efficiency, and delivery time accuracy. It’s a valuable metric for identifying bottlenecks, improving efficiency, and optimising specific operational steps. Let’s break down the most common ones.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

SYSPRO Smarter ERP

MARCH 15, 2023

Most manufacturers require a comprehensive Inventory Planning Solution that has robust functionalities to integrate critical, interrelated business departments such as finance, marketing, sales, and procurement.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Modeling 105

ToolsGroup

SEPTEMBER 20, 2022

Using this data, advanced predictive models can estimate when failures are likely to occur and recommend appropriate timelines to perform corrective measures, allowing manufacturers to organize their production schedules based on predicted equipment availability metrics. Optimize spare part inventories.

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

American Global Logistics

SEPTEMBER 12, 2023

It involves coordinating and integrating various activities, from procurement to production to distribution, to ensure the seamless flow of goods and services. Lean manufacturing and just-in-time production minimize waste and inventory levels while maximizing efficiency. This innovation significantly increased efficiency.

Sourcing Strategies 52

Sourcing Strategies Optimal Sourcing Supply Chain Planning Software Supply Chain Software 52

The Logistics & Supply Chain Management Society

APRIL 26, 2022

Communication tools like order tracking, cloud-based shipping and ordering, and radio frequency identification (RFID) chips, enable real-time visibility of orders, shipments, and inventory. Narrower timeframes, and business intelligence are essential to optimise the customer experience.

Supply Chain Planning Software 246

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 246

FourKites

JANUARY 7, 2021

Emphasizing agile and lean logistics management will allow you to outperform slower competitors through the ability to make informed decisions on the fly, rather than relying on gut instinct or incomplete information. What is the Difference Between Lean and Agile Supply Chains? That only increases the odds of making the wrong decision.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Planning Software Supply Chain Software Modeling 52

Resilinc

FEBRUARY 22, 2021

A common challenge for procurement and supply chain professionals is obtaining support from C-level leaders to invest in a robust supply chain risk management (SCRM) program. But to make their strongest case, SCRM advocates need to focus on one key metric: return on investment. ROI analysis: core to a strong business case.

Supply Chain Risk Management 62

Supply Chain Risk Management Risk Management Supply Chain Design Software Agile and Lean Supply Chain 62

Unleashed

MARCH 31, 2021

You’ll see that the KPIs in both supply chain management and logistics are very similar, in that they often track the movement or storage of inventory. A lean business looking to build efficiencies would do well to try and improve this metric. Inventory days of supply. Examining KPIs: Supply chain vs. logistics.

Supply Chain Planning Software 69

Supply Chain Planning Software Logistics Network Optimization Software Supply Chain Software Agile and Lean Supply Chain 69

Enterra Insights

JULY 27, 2021

He explains, “The circular economy aims to eradicate waste — not just from manufacturing processes, as lean management aspires to do, but systematically, throughout the life cycles and uses of products and their components. Increase forecasting accuracy to reduce obsolete inventory. ocean plastics, product takebacks).”

Supply Chain Design Software 100

Supply Chain Design Software Supply Chain Planning Software Supply Chain Design Agile and Lean Supply Chain 100

Unleashed

JANUARY 3, 2023

But when your cash is locked wages, managing inventory , lines of credit, and other costs, it can slow down productivity – even bring it to a standstill. You’re holding too much inventory Too much stock on hand at a given moment turns cash into slow-moving stock. In other words, it leaves you with no cash to spend until they pay.

Manufacturing Procurement 96

Manufacturing Procurement Material Savings Expense Reduction Inventory Reduction 96

Supply Chain Game Changer

OCTOBER 8, 2019

Most definitions of disintermediation characterize it as the elimination of intermediaries, or “ cutting out the middleman “ Further consider that the “Wastes” associated with Lean thinking and principles include transportation, inventory, over production and motion amongst others. Why is this relevant?

Waste Reduction 63

Waste Reduction Inventory Reduction Resource Reduction Price Reduction 63

Supply Chain Shaman

MAY 21, 2013

We have used Lean process systems and swim-laned ourselves to death. Be sure to not overlook the inventory carrying costs and the impact of demand latency. Generalize procurement of materials. Some helpful reports include: Supply Chain Metrics That Matter: The Cash-to-Cash Cycle. Supply Chain Leader of a Large Hospital.

Modeling 239

Modeling Modeling Software Pharmaceutical Procurement Analytics 239

Supply Chain Shaman

FEBRUARY 18, 2013

Pharmaceutical companies are struggling with falling margins and rising inventories. In our work with pharmaceutical companies, most executives wince when we mention inventories. However, most do not realize that the Days of Inventory for the industry has grown 33%. It is rising inventory levels. What Can We Do?

Pharmaceutical 169

Pharmaceutical Supply Chain Network Software Eliminating Excel in Purchasing Procurement Analytics 169

NC State SCRC

MARCH 25, 2021

This monster ship, which is as long as the Empire State Building and weighs about 200,000 metric tons, became stuck due to high winds, and no one seems to be able to get it out. Because procurement executives were so focused on cost, they did not worry about shipment velocity. It may take weeks, by some estimates.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Cargo Waste Reduction Material Savings 52

Supply Chain Game Changer

NOVEMBER 19, 2018

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. Whatever your Industry you should be able to make comparisons to competitors, do benchmarking, and even compare yourself on key metrics across industries. Yet often the Supply Chain is undervalued.

Negotiating Skills 84

Negotiating Skills Cost Reduction Strategies Purchasing Skills Inventory Reduction 84

Supply Chain Game Changer

NOVEMBER 9, 2018

You know the people, the processes and the metrics. Most companies have a Procurement function, Distribution, Logistics, Planning, Inventory Management, Product Data Management, and Operations. In the area of Inventory Management they also did a lot of benchmarking and highlighted deficiencies in our processes.

Agile and Lean Supply Chain 43

Agile and Lean Supply Chain Supply Chain Planning Software Supply Chain Strategy Supply Chain Planning 43

Unleashed

JULY 23, 2023

KPIs in manufacturing are quantifiable production metrics used by manufacturers to measure production performance over time. Ways to enhance your order cycle time include: Understanding order profiles Reallocating resources to the areas of greatest activity Reducing travel time Prioritising inventory replenishments 2.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

Supply Chain Shaman

AUGUST 11, 2014

We have found that supply chain metrics are gnarly and complicated.During We believe that a supply chain leader is defined by both the level of performance on the Effective Frontier (balance of growth, Return on Invested Capital, Profitability and Inventory Turns) and driving supply chain improvement.

Case Study 286

Case Study Optimal Sourcing Supply Chain Planning Software Supply Chain Design Software 286

Logistics Bureau

NOVEMBER 16, 2020

It touches many departments, from production, procurement, shipping, accounting, and finance to marketing, warehousing, research and development, and sales. Certified in Production and Inventory Management (CPIM) : The course covers ground such as knowledge of production and inventory management, internal operations, and customer relations.

Supply Chain Planning Software 96

Supply Chain Planning Software Supply Chain Design Software Negotiating Skills Buyer Training 96

Logistics Bureau

JANUARY 19, 2016

While this article is not going to focus on lean practices, the importance of keeping waste and process inefficiencies to a minimum can never be stressed enough when it comes to controlling expenditure and preventing cost blowouts in the supply chain. Implement performance metrics and monitor a selection of key performance indicator.

Supply Chain Planning Software 40

Supply Chain Planning Software Cost Reduction Strategies Negotiating Skills Agile and Lean Supply Chain 40

Silvon Software

APRIL 29, 2022

Inventory can be a manufacturer’s most important asset. But a large inventory has its own liabilities such as cost to store and insure it, along with the risk of spoilage, theft and damage. The Basics of Inventory Management KPIs. Every inventory KPI needs a clearly defined goal.

Optimal Sourcing 106

Optimal Sourcing Inventory Reduction Procurement Analytics Price Mitigation Strategies 106

Kinaxis

MAY 18, 2016

Procurement might have hit their cost savings metrics, but if it meant purchasing more than needed, and that might hurt your warehouse inventories. The S&OP process 3-4 years ago didn’t lean on that as much as it does now. You might think, “okay, our warehouse is good” without thinking about the end to end.

Supply Chain Software 100

Supply Chain Software Gartner Supply Chain Planning Software Agile and Lean Supply Chain 100

Supply Chain Shaman

FEBRUARY 25, 2016

Stuck at the intersection of operating margin and inventory turns, only 10% of companies are making progress. Unable to power additional year-over-year improvements at the intersection of cost and inventory, companies struggle. This is the world view of finance and why there is so much friction between procurement and finance.

Supply and Demand 150

Supply and Demand Prescriptive Analytics Software Supply Chain Design Software Supply Chain Planning Software 150

Silvon Software

APRIL 18, 2024

These technologies are not just transforming business areas like sales, procurement, production, distribution and others by streamlining data categorization and insight generation; they are reshaping entire business landscapes by offering real-time intelligence that informs strategic decision-making across all core areas.

Manufacturing Procurement 58

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 58

Logistics Bureau

DECEMBER 20, 2016

It’s not that complicated, but there are three component areas that require a laser focus; inventory, policies, and planning. Let’s be clear about one thing; your company’s customers don’t care one little bit about your internal costs associated with inventory. Procurement costs.

Inventory Reduction 40

Inventory Reduction Cost Reduction Strategies Price Reduction Waste Reduction 40

SYSPRO Smarter ERP

JULY 12, 2022

As supply chain disruptions continue the procurement function should adapt to improve transparency, build collaborative relationships, and ensure sustainable sourcing practices, resulting in a stronger, more resilient supply chain with Cloud ERP for manufacturing. However, as teams become remote manual procurement has hampered operations.

Manufacturing Procurement 105

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement Solutions 105

Precoro

FEBRUARY 26, 2024

For procurement professionals, systemizing and optimizing cost centers is not just a matter of financial management; it's a strategic task for driving efficiency, controlling costs, and enhancing overall performance. For instance, useful information to consider might be equipment usage rate, inventory turnover, or employee productivity.

Optimal Sourcing 105

Optimal Sourcing Cost Reduction Strategies Optimization Software Negotiating Skills 105