How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. But that’s not the only shift in manufacturing. Data availability and advanced analytics are also shaping the industry by providing new insights into efficient manufacturing processes. It then uses this model to understand the impact of demand forecasting on inventory.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. But that’s not the only shift in manufacturing. Data availability and advanced analytics are also shaping the industry by providing new insights into efficient manufacturing processes. It then uses this model to understand the impact of demand forecasting on inventory.

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Revealing the Value of Additive Manufacturing in Aerospace and Defense

DELMIA Quintiq

What aerospace manufacturers need is agility in their design and production processes to help mitigate the variability in supply and demand. Additive Manufacturing (AM) is one innovation in which aerospace companies have significantly invested to try to address some of their unique challenges.

Inventory Management in Manufacturing Environment

LeanCor

Firms today are beginning to understand more and more that high levels of inventory aren’t just detrimental to costs but also for hiding other potential issues. Inventory management starts with lean buying and planning tactics as well as streamlined inventory management standard processes for material handling and planning. The beginning stage of inventory management doesn’t begin at the dock door rather it begins with the supplier. By: David Sherman.

Inventory Replenishment Underway

Logistics Trends and Insights

Census Bureau inventory data, for June, indicates the need for inventory replenishment as the seasonal-adjusted sales to inventory ratio declined to 1.37 Total business inventories declined 2.3% for June/May while inventories declined 5.8% Inventory Replenishment.

How Barcode Scanning Can Revolutionize Your Inventory Management

DELMIA Quintiq

New processes and innovations continue to reinvent the world of logistics. Implementing something as simple as barcode scanning can completely transform your inventory management system. inventory optimization and management. These systems require barcode labels or tags to be affixed to bins or individual inventory parts. Coupled with inventory management software, the codes become an extremely effective tool.

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Unfortunately, this includes all possible processes, data collection points, and inbound to manufacturing areas.

[e-Book] E-Commerce Logistics: Background & Considerations for Manufacturers & Distributors

Cerasis

The flowering of e-commerce—while welcomed by most manufacturers and distributors/retailers—has introduced far more risk and complexity for logistics managers. Download the Background & Considerations for Manufacturers & Distributors to Set up an E-Commerce Logistics Practice E-Book! Download part 1 of a 2 part e-commerce logistics e-book series by filling out the form below. Logistics is the backbone of all manufacturers’ & distributors’ success.

What is Inventory Shrinkage?

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Shrinkage article and permission to publish here provided by Jake Rheude at redstagfulfillment.com. There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product.

Omnichannel In Manufacturing: Why Manufacturers Are Following Retailers to an Omnichannel World

Cerasis

The application of omnichannel in manufacturing primarily focuses on the collaboration between suppliers, or vendors, and distributors. The Problem: Seamless Omnichannel Experiences Extend Beyond Retailer-Customer Relationships Keeping up with customers’ demands has natural implications for business-to-business sellers, including manufacturers. Manufacturers still using disjointed processes and operating in functional silos are unable to keep up with demand.

The Inventory Accuracy “Confidence Gap”

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: 5 Key Insights to Improve Inventory Performance for 2019 ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. And it begins with improving their inventory accuracy. The Inventory Accuracy “Confidence Gap”.

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

Cerasis

As e-commerce growth accelerates, shippers are working overtime to manage available inventory. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices. As a result, brick-and-mortar retail has become more focused on digital inventory management, a building block in the road to omnichannel supply chains , than in the past.

11 Inventory Management Best Practices

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Management Best Practices article originally published by, and permission to publish here provided by, Dave Joseph at veridian.info. Supply chain leaders are continuously looking for ways to improve inventory management, and the role of technology in the supply chain offers significant advantages. Use ABC Analysis to Categorize Your Inventory. Recognize the Relationship Between Sales and Inventory.

Transforming the manufacturing supply chain with MEIO

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft’s Bill Moffett and I collaborated on an introductory blog on MEIO for manufacturing businesses. On a much larger scale, manufacturers can forfeit working capital by keeping large amounts of inventory on hand to help satisfy wide-ranging customer demand. Successfully managing inventory is increasingly difficult.

Taking Packaging Manufacturing to New Levels with Digital Technology

QAD

But to keep up in t oday’s rapidly changing business environment, packaging manufacturers must move beyond the concept of digital printing in order to realize the real transformation digital technology brings to manufacturing. Digitally Connected Manufacturing.

Just-in-time Manufacturing – A Manufacturer’s Guide to Effective Inventory Management

ThroughPut

What is Just-in-time Manufacturing? Just-in-time (JIT) manufacturing is described as a production model in which products and services are produced to meet specific demand and not necessarily created in surplus, in deficit, or in advance of actual need. The purpose of JIT manufacturing is to avoid the waste associated with overproduction, holding stocks and excess inventory, to help manufacturers control the process variability and help increase productivity while lowering costs.

Just-in-time Manufacturing ? A Manufacturer?s Guide to Effective Inventory Management

ThroughPut

What is Just-in-time Manufacturing? Just-in-time (JIT) manufacturing is described as a production model in which products and services are produced to meet specific demand and not necessarily created in surplus, in deficit, or in advance of actual need. The purpose of JIT manufacturing is to avoid the waste associated with overproduction, holding stocks and excess inventory, to help manufacturers control the process variability and help increase productivity while lowering costs.

What is the Hyperconnected Era & “The Internet Of Things” and What does it Have to Do with Manufacturing & Logistics?

Cerasis

Editor’s Note: This is our second post in a collaborative blog post series about mobility in manufacturing & logistics along with Catavolt, who helps manufacturing organizations drive operational excellence with mobile apps. We encourage our audience to visit The Catavolt Blog for more relevant posts about mobility in manufacturing for best practices, tips, and great industry insights. appeared first on Freight Logistics Company | Cerasis.

Omni-Channel Logistics Leaders: The Importance of Real-Time Inventory Visibility

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: Top 5 Inventory Insights ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. Source: “Omni-Channel Logistics Leaders: Top 5 Inventory Insights,” Adelante SCM & LEGACY SCS.

Trends In Manufacturing: 5 Tangible Technologies are Shaping the Future of Manufacturing Now

Cerasis

Continuous improvement is part of the game in manufacturing. Among the new trends in manufacturing improving the industry, additive manufacturing and cloud-based systems will push manufacturing forward in 2017. In fact, rapid design and lightning-fast prototyping, reports Mark Dohnalek of Manufacturing Business Technology magazine , will allow manufacturers to design and produce products in a few days, if not hours. Manufacturing

Five Things You Need to Know about Inventory Optimization in the Digital Age

ToolsGroup

With all the buzz around digital transformation, someone peering in from outside supply chain may assume most businesses have already digitized essential tasks like inventory planning. It’s about learning to transition from long-held inventory systems and processes, having new conversations across logistics and sales, and the shifting role of supply chain planners. This article will share five things you need to know about optimizing inventory in the digital age.

The Growing Reliance on Traceability in Manufacturing Supply Chains

IQMS

Bottom Line: The heightened priority on health & safety is leading to a renaissance of traceability in manufacturing across many industry sectors as every business strives to keep its employees, customers, and suppliers safe. Reliance on Traceability in Manufacturing Is Growing.

Talking Logistics: PINC and project44 Partnership Commentary

PINC

Here’s more from the press release: Distribution centers, warehouses, and manufacturing plants are looking to improve gate velocity, optimize driver turnaround times, and reduce costs while becoming Shippers-of-Choice. Source: Above the Fold: Supply Chain Logistics News (August 28, 2020).

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.

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.

Reshoring Or Not, What is Manufacturing? 4 Questions to Ponder with Real American Manufacturers

Cerasis

Editor's Note: This is a two part series featuring Chuck Intrieri, who along with providing excellent insights over at his industry leading The Lean Supply Chain blog, is also a consultant who works with companies for Cost Reduction, Supply Chain Optimization, Logistics, Manufacturing, and 3PL Selection. We recommend you get in touch with him if you'd like an expert to guide you to the next level in your manufacturing business. . What is Manufacturing?

How A High-Tech Manufacturer Navigated The Pandemic

Logistics Viewpoints

From a supply chain perspective, a robust supply chain digital transformation would involve end-to-end visibility of inventory in motion and inventory at rest in near real-time. And that inventory […].

Cargo 142

Manufacturers Should Focus on This Most Critical Component for Manufacturing Operations Excellence

Cerasis

We conclude this two part series about manufacturing operations excellence by consultant Chuck Intrieri, by outlaying why manufacturers should focus on a critical component that will help sustain manufacturing operations excellence for years to come. What is Driving Sustainable Manufacturing Operations Excellence? What is the most important part of manufacturing? The most important resource in manufacturing is people.

Inventory Management Techniques and Strategies You Need to Know

Schooled by Science

Good inventory management techniques are crucial for logistics operations. The post Inventory Management Techniques and Strategies You Need to Know appeared first on Schooled By Science. Manufacturing & Engineering

Lean Manufacturing

LeanCor

A Systems Approach to Inventory Management. Inventory Management. Inventory is not isolated to raw materials and finished goods. Companies will carry inventory masquerading as service parts, repair items, administrative suppliers, automobile fleets, and a host of other types of assets that are managed by setting and maintaining certain levels. The problem is that almost every function inside an organization can affect inventory levels. Inventory Strategy.

Lean 131

Steel Fabrication and General Manufacturing Tips and Tricks for 2015

Cerasis

Still in all most fabricators have seen steel sales rise and customer demands and inventory requirements increase over the past several years. Now is the Time for Manufacturing to Look at Logistics Efficiency. By adopting a logistics efficiency management approach, logistics related costs as a percentage of sales drops to 4% to 7% depending on industry sector. Manufacturing seems heading for a long awaited comeback. Manufacturing manufacturing tips

Digital logistics: how manufacturing companies can profit

DELMIA Quintiq

Digital logistics – success through networking. Logistics and IT are growing even more closely together. Digitalisation as a central element is decisively influencing the development of logistics and its concepts,” was the conclusion from Roman Stiftner, President of BVL Austria. The underlying question is: How can information technology processes and results in production logistics be improved? What are your thoughts on digital logistics in manufacturing?

Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic

PINC

The global pandemic has thrown manufacturers, distributors, and retailers into a mode that most have never experienced before. While safety is especially important now, it should be a key issue for logistics leaders at all times,” West continues. live/drop, type of inventory, type of equipment, load status, etc.). Major Beverage Manufacturing company. The post Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic appeared first on PINC.

Lean Manufacturing: Is it Really Worth It? 16 Big Benefits Say, “Yes.”

Cerasis

Customer expectations of reliable quality and rapid delivery forces today’s manufacturers to either shorten cycle times or lose business. There are multiple good models for lean manufacturing operations. Who Needs Lean Manufacturing? A company in need of lean manufacturing practices tends to be easy to identify, typically displaying multiple of the following symptoms of operational deficiency: Inventory amasses in buffer stocks. cuts inventory costs.

Lean 263

4 Key Trends to Watch in Smart Manufacturing and Supply Chain

Cerasis

The advancements in 3D printing and 'Additive Manufacturing,' coupled with supply chain efficiencies, could make distributed manufacturing a reality, ushering in the era of smart manufacturing. The Continual Coverage and Now Reality of Smart Manufacturing with 3D Printing. I remember reading an MIT paper on manufacturing technology trends a couple of years ago. It had a fascinating mention of " Additive Manufacturing " (AM) and how it could be a game changer.