Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. Inventory Management is about having a right balance of expectations from different functions of the supply chain. Inventory Management is a function that should always be in sync with your supply chain strategy and in turn depends on your overall business strategy. What does it mean for 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. Colin: How do inventory optimization (IO) and multi-echelon inventory optimization (MEIO) enable manufacturers to operate more efficiently? IO uses powerful analytics to generate the right inventories to meet demand, address demand volatility, and achieve targeted service levels.

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Manufacturing ERP Plays a Key Role for Sustainability

QAD

Sustainability has become increasingly important in recent years and is now a vital component of many organizations’ social, economic and environmental efforts. Other recent examples include Mercedes-Benz’s pilot project for using blockchain to track CO2 emissions and Perrier’s program winners for developing sustainable and circular packaging solutions. The Sustainability Movement in Business and Manufacturing. How Does an ERP System Support Sustainability?

Transport Management System: Making your Logistics Supply Chain Successful

20Cube Logistics

With the constant technology evolution, the supply chain logistics is being introduced to a new and innovative way of shipping consignments. Saves time and money : TMS helps to reduce the amount of time and money spent on shipping and logistics services.

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.

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. Colin: How do inventory optimization (IO) and multi-echelon inventory optimization (MEIO) enable manufacturers to operate more efficiently? IO uses powerful analytics to generate the right inventories to meet demand, address demand volatility, and achieve targeted service levels.

ERP Sustains Manufacturing during COVID-19

IQMS

Today, during the COVID-19 response, ERP is keeping entire industries in operation with its ability to sustain business operations through remote access, automated reporting, electronic data exchange, and real-time factory controls. Throughout COVID-19, Eldon James customer service, operations, and logistics are continuing without disruption. Many food and drug retailers, as well as online retailers, use its containers in their logistics operations.

3 Uses of IoT Tech Spurring Sustainability in Supply Chains

Cerasis

IoT Tech is Driving Sustainability in the Supply Chain. But perhaps the most far-reaching changes will center around the use of large data systems to drive sustainability in logistics and supply chains. Driverless”, autonomous vehicles are already in use across both the public and private sector, and are set to dramatically transform the logistic industry as they hit the road in greater numbers.

5 Benefits from Logistics Sustainability & Effieciency

Cerasis

We are now in our 10 post of the "Strategic Logistics" series where we are covering 10 of the ways shippers can remain strategic vs. tactical in the pursuit of competitive advantages and focusing back on the core of what they do. Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency. 5 Areas of Technology Application to Aid in Logistics Visibility and Communication for en Route Disruptions.

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

Today I will discuss how a company can sustain a lean culture once they have implemented lean practices in order to achieve continuous improvement. Your company has started the lean journey, but how do you sustain it? Let's first talk about first setting the stage, then give you practical practices and tactics to achieve a sustainable lean culture, and then provide core key performance indicators (KPIs) to track your progress. Once implemented, Lean has to be sustained.

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Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. I believe that you're going to see sustained push to e-commerce. Inventory management, evolved.

What's wrong with ABC inventory classification?

ToolsGroup

ABC inventory classification has been around so long that most planners just assume it’s the only way to segment your inventory. Inventory Segmentation from the 1960s. To understand the shortcomings of ABC inventory classification, we need to understand how it is done. Nearly all traditional inventory management applications calculate safety stock for each individual SKU-Location combination. Inventory Segmentation Today. Inventory Optimization

Logistics Company

LeanCor

2 Key Inventory Metrics Your Logistics Company Should Be Measuring. ADOH represents how much inventory a process has stored expressed in terms of how many days that process could sustain activity by consuming the stored inventory. ADOH is an appropriate measure of lead time your logistics company should use because replenishment is based on consumption, and eliminating the time between consumption and replenishment reduces waiting and increases velocity.

Airport logistics and the concurrent planning truth behind baggage handling

Kinaxis

As a self-identified traveler I am in love with airports and airport logistics. Of course, this is not a coincidence, airports have very complex operational structures to sustain the movement of high volumes of passengers. Although I felt quite a bit of excitement researching Airport Logistics, when it comes to travelling I am an impatient passenger. Concurrent planning Inventory management Supply chain management airport logistics Concurrent Planning Logistics

5 supply chain management tips for retail for sustained profitability

6 River Systems

These are the two factors that are essential for the long-term sustainability of any retail business, and achieving them requires implementing smart supply chain management tips and strategies. Here are five supply chain management tips for the retail industry to bring in sustainable profits.

Healthcare Logistics

LeanCor

Healthcare Logistics: A Network Design Case Study. 23 million dollars in total healthcare logistics cost savings; how would that make you feel? Constructing a total cost model and performing a Greenfield analysis to identify optimal distribution center locations and transportation network allowed the LeanCor engineers to identify $23M total healthcare logistics cost savings for a healthcare product distributor. Improved service levels with overall inventory reduction.

Supply Chain And Logistics Trends That Could Be Big In 2020

Logistics Bureau

Rob O’Byrne makes an early start with his round-up of supply chain and logistics trends that might make industry headlines in the coming year. His observations include trends in first and last-mile logistics, and the increase in SMEs entering global markets. 2020 Supply Chain and Logistics Trends: What’s Around the Corner? Again, this might include recycling or refurbishing items damaged in storage or transit, or placing undamaged returns back into a sales inventory.

Speed up your eCommerce Business with Inventory Management Software

Vinculum

Inventory management plays a vital role in building a sustainable, scalable and profitable eCommerce business. No matter how expert you are, how bigger or smaller your business may be, what products you sell, or who do you serve, lack in your inventory management can bring bigger challenges in your business success. Thus, inventory Management Software is really an essential tool for your business to gear itself up. What is Inventory Management System?

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

As a supply chain expert and value creation supply chain consultant myself, I believe I have identified some core areas that will lead to desired supply chain cost reductions that are both sustainable and realized quickly. Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions.

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. Try using a Vendor Managed Inventory (VMI).

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Top 15 Logistics Blog Posts of 2014

Cerasis

We continue our top blog posts of 2014 from our main categories today by focusing on something at Cerasis we are experts in : Logistics. If you are familiar with the term logistics, then you undoubtedly know it conjures up a different meaning to different people , different countries, and different companies even. There are countless number of logistics service providers who offer many different types of broad and niche services. Top 15 Logistics Blog Posts of 2014.

3PL Basics: An Introduction to 3rd Party Logistics with Roberto Cadena

The Logistics of Logistics

3PL Basics: An Introduction to 3rd Party Logistics with Roberto Cadena. Robert Cadena and Joe Lynch provide an introduction to 3rd party logistics. 3rd party logistics services include 5 major categories: 1.) Logistics 4.) based transportation and logistics providers.

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6 Benefits of Effective a Reverse Logistics System & The 9 Core RevLog Metrics to Track

Cerasis

While conventional logistics optimizes the flow of goods from producer to consumer, reverse logistics manages the processes for inverting that flow to deal with returned parts, materials and products from the consumer back to the producer. With the growth of sustainability initiatives , more companies have adopted the use of recycled materials in production and have developed procedures for the responsible disposal of products that cannot be recycled or reused.

Supply Chain Alone Can’t Solve Sustainability But it Has a Part to Play!

Supply Chain Game Changer

Around the world, people are demanding more from their governments, business communities, and their fellow consumers to help create a more sustainable future. We’re a recruitment company deeply specialized in the world of Supply Chain Management – which includes Procurement, Logistics, Distribution, Planning and other functions that involve bringing products from raw materials to market. In short, current trends aren’t sustainable with projected population growth.

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC. Warehouse Inventory Management Software is seeing increased adoption as manufacturers expand globally through mergers, acquisitions, and regionally-focused manufacturing strategies.

The Top 6 Trends in Logistics Impacting Shippers in 2017

Cerasis

The election is over, but the race is just starting for logistics providers. From Amazon to hyper-local retailers, 2017 will be a year of intense scrutiny and pressure on logistics providers. Fortunately, your organization can get ahead of the learning curve by knowing what trends in logistics to watch for this year. The Top 6 Trends in Logistics Impacting Shippers in 2016. Autonomous Trucks Will Drive Logistics Forward. Logistics

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Why Reverse Logistics Systems and Transportation Management Should Be Considered Together

Cerasis

Needs for efficient reverse logistics systems continue to increase as e-commerce claims greater market share, and as so many traditionally functioning businesses grow and inevitably incur increasing volume of returns. This presents opportunities for developing new revenue streams, an exciting challenge to logistics professionals. Need For Reverse Logistics Breeds Opportunity. Efficiently managing reverse logistics is a daunting challenge for many businesses.

Third Party Logistics

LeanCor

The impact of lean on the supply chain is significant, as the goal of lean is to eliminate waste (overproduction and inventory), which will decrease work in process inventories. Logistics can be quite complicated and there are many potential failure modes between the order and delivery. Without an effective third party logistics provider in place, the system can break down and the inbound part or outbound final product won’t arrive in time.

Trends & Strategies in Logistics and SCM

Supply Chain Movement

2013 Trends and Strategies in Logistics and Supply Chain Management: Embracing Global Logistics Complexity to Drive Market Advantage. The key results of this study by BVL International on trends and strategies in logistics and supply chain management are summarized, as follows. They are based on 1757 responses collected in an international survey from supply chain executives (including logistics service providers (LSPs), retailers, and manufacturing companies).

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European Supply Chain & Logistics Summit 2015

Supply Chain Movement

European Supply Chain & Logistics Summit 2015. The European Supply Chain and Logistics Summit is Europe’s most established supply chain and logistics summit. Bringing together leaders from multiple industries, the programme provides best practice guidance on how to implement effective supply chain strategies and improve supply chain planning and optimisation in order to achieve a world-class logistics network and attain procurement excellence.

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

Cerasis

Even JP Morgan, Microsoft, and Google, reports Jonathan Chester of Forbes , are working to increase blockchain development and innovation, and supply chain leaders need to understand how the use of blockchain in supply chain and logistics will bring about lasting change and improvements in efficiency. Blockchain is entering a phase of development that will affect every aspect of supply chain and logistics management, ranging from procurement to forward logistics and beyond.

Is it REALLY organic? Sustainable farm to fork supply chain.

Logichain Solutions

Organic food companies need to go beyond just the product; they also need to ensure that the entire farm to fork supply chain is sustainable. Here are some key factors organic food companies need to consider to ensure a sustainable supply chain: Sourcing.

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Employing this S.M.A.R.T. Technique with a Logistics Company to Create Total Stakeholder Satisfaction

Cerasis

Today we continue our series on successfully working with a logistics company, often called a third party logistics company by focusing on how to properly understand the success of the engagement by knowing all the key performance indicators that a shipper could put in place. We will then finalize the series on logistics key performance indicator success management with practical techniques to carry through the academic subjects we've covered thus far. .

Integrated Inventory Management Software and Accounting Software for Successful Business Growth

Unleashed

More than ever, competitive businesses are acknowledging the importance of adequate inventory control practices and appropriate management software, but the integration of accounting software with that of inventory management offers many advantages for better holistic business management. Providing visibility to the supply chain enables better inventory management by offering stock data to suppliers. The Impacts of Inventory Stock Discrepancies in Accounting.

Navigating inventory through the eye of the COVID storm

EFT

According to several executives on the roundtable, failing to have inventory in the right place at the right time can have a massive impact on company performance, as sales are not realised when product cannot meet local demand.

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