Remove Inventory Remove Manufacturing Remove Metrics Remove Warehousing

Metrics that Matter: Inventory Effectiveness

QAD

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Tracking, Managing, and Choosing Metrics.

The Most Important Distribution Center Metrics to Track and Understand

Cerasis

Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. What Distribution Center Metrics Need Tracking? Monitor Warehouse Capacity.

Which Metrics Matter? Interview with Philippe Lambotte

Supply Chain Shaman

My journey to understand supply chain Metrics That Matter started three years ago. When I sat down to write the book, Bricks Matter, I believed that companies had used supply chain technologies to reduce operating margin and improve inventory turns. How do you balance metrics ? .

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.

Take Advantage of Digital Manufacturing to Improve Workforce Productivity

DELMIA Quintiq

Much has been done to improve manufacturing efficiency. Supply chains have been optimized; warehouse inventory tracking has reached new levels of precision; production lines can operate with virtually no downtime. Digital Manufacturing as an Enabler of Workforce Productivity.

Manufacturing Gains From Machine Learning

IQMS

Improving semiconductor manufacturing yields up to 30%, reducing scrap rates, and optimizing fab operations is achievable with machine learning. New products are proliferating in manufacturing today, and delivery windows are tightening.

50 warehouse automation stats you should know

6 River Systems

Warehouse automation stats show that automation is making a big impact on warehouses and distribution centers. As technology awareness grows, more warehouses and DCs turn to automation to adapt to the changing landscape. The number of private warehouses is growing.

DIFOT: A Metric of Supplier Performance

Unleashed

Delivery In Full On Time, or DIFOT, is a metric used to analyse how accurate and efficient your supply chain is. When it comes time to reassess the approved supplier list, then you can use these metrics to disqualify problematic suppliers and improve your own performance and supply chain. If you are measuring your own DIFOT scores as a distributor, you can use the metrics to promote your own success and ability to fulfil demand.

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

These metrics would, of course, be aligned and are updated every hour. The metrics are also manual as automatic metric systems cannot retrieve the information at an hourly frequency as these metrics are process inputs and not outputs.

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Creating an Actionable Plan for Unlocking Working Capital with Inventory Optimization

Arkieva

For many companies, the term “inventory optimization” has become more of a catch phrase than an actual reality. The idea of cutting inventory costs while maintaining the same level of customer service is rather elusive. Hence, reducing the need for an excess in inventory.

50 expert tips on improving warehouse efficiency & productivity

6 River Systems

Most warehouses are on an ongoing mission to maximize productivity by optimizing workflows, automating processes and reducing waste (both time and resources). More than 50% of your warehouse labor is in pick and pack, so start there. Cross-train your warehouse workforce.

Double Inventory Turnover In 9 months!

Supply Chain Game Changer

Check out World Class Inventory Turnover Breakthrough Elements! “If we are truly a Supply Chain Services Company, then why is our Inventory Turnover only at 7?”, In that meeting I set the target … we needed to reach double digit Inventory turns within the next year.

Top 10 Organizational Mistakes That Limit Your Warehouse Management (infographic)

USC Consulting Group

Just as a lack of exercise and a poor diet can cause our blood to become clogged with cholesterol and fat, inefficient warehouse management can lead to serious issues for your operation. For example, one of the most common mistakes made in these environments is having too much inventory.

The Go-To List of Ways to Improve Inventory Management

Veridian Solutions

Today’s warehouse managers need better inventory management strategies. This is nothing new, but as the world has evolved, the ability to improve inventory management has evolved in stride. Supply chain leaders should follow these key strategies for ways to improve inventory management. The best way to gain improved accuracy and insight into your inventory is to eliminate it from your purview. An efficient warehouse must collect and analyze data.

Thrifty Inventory Management to Save Money and Increase Profits

Unleashed

In today’s manufacturing arena, the common mantra is to produce more ‘faster, quicker, cheaper’ with the common goal being to instigate more interest through marketing, drive sales up and increase profits. This is all very well, however to achieve this goal, inventory management needs to be a focus. This is where efficient, lean and thrifty inventory management comes in. This is similar to looking for the root cause and is often underappreciated in inventory management.

Real-Time Monitoring Fuels IoT Growth In Manufacturing

IQMS

72% of manufacturers say real-time monitoring is essential for streamlining and making inventory reconciliation more efficient. Manufacturing is now a digitally driven business where data, insights, and intelligence have become the most valuable asset a company has.

Logistics Metrics You Didn’t Know You Should Be Watching

Supply Chain Collaborator

Troublesome delays can occur while assets are on the yard at DCs, warehouses or manufacturing facilities. . __. Troublesome delays can occur while assets are on the yard at DCs, warehouses or manufacturing facilities. Asset management/inventory controls.

10 Best Inventory Book for All Experience Levels

Supply Chain Opz

What inventory book can help you to cut inventory costs? In this article, we will show you 10 best inventory book that readers at all levels can learn from. Inventory Management Overview Many people think inventory management is a clerical task but they're absolutely wrong. Effective control of inventory requires a broad spectrum of knowledge.

The Beginner's Guide to Inventory Control and Management

Supply Chain Opz

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.

Eliminating Your Excess Inventory

Loop Supply Systems

Eliminating Your Excess Inventory. Excess inventory is experienced by nearly every manufacturer – and it’s a big problem. Inventory is one of the 7 Lean Mudas (Japanese term for ‘waste’). COST OF EXCESS INVENTORY. Now think about all of your inventory.

The Magic Bullet for Real-Time Supply Chain Collaboration? Cloud Visibility.

synchrono

Jessica Twentyman reported in the Financial Times , that for many manufacturers, supply chain collaboration is stuck in the dark ages. Supply Chain Market reported the closest any manufacturer can get to the magic bullet of efficiency (collaboration) is through greater supply chain visibility.

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Wanted: Supply Chain Architects!

Supply Chain Shaman

Let me start with a true confession: I am a manufacturing gal. I relished the sound of a manufacturing line when I opened the door of the factory in the morning, and I liked managing inputs so that we could maximize outputs. In manufacturing, I became good at labor bargaining.

21 Vendor Metrics Your Supplier Scorecard Might be Missing

Supply Chain Cowboy

But is your scorecard missing key metrics? It includes a free Excel template that you can modify to match exactly what metrics you want to measure. While some of these metrics might not apply to your business model, there’s definitely a few to add if they measure something important to you and your customers. Of course, you’ll want to be courteous and professional with your feedback, but being open and honest with this metric can go a long way to solving problems between you.

How Machine Learning Is Redefining Supply Chain Management

IQMS

Key factors influencing inventory levels, supplier quality, demand forecasting, procure-to-pay, order-to-cash, production planning, transportation management and more are becoming known for the first time.

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

Veridian Solutions

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. A Guide to the Warehouse Metrics Supply Chain Execs Should Track.

What Going Digital Can Mean for Your Warehouse Operation

EFT

Many Lean Manufacturing or Six Sigma Methodologies champion this while calling for process improvement and business optimization through faster, safer and more comprehensive approaches. Future warehouses are expected to reach new levels of automation. 1) Master Your Supply Chain.

FAQ: Is Demand-Driven Manufacturing the Same Thing as Lean?

synchrono

Many of our customers don’t start out looking to implement Demand-Driven Manufacturing per se. Often, they’re focused on Lean Manufacturing or at least some element of it. Demand-Driven Manufacturing isn’t synonymous with Lean or other related initiatives such as Theory of Constraints.

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How Machine Learning is Transforming Industrial Production

DELMIA Quintiq

That allows us to get to the heart of the matter in identifying the industrial technology that had to be created or modified because of the desire to use machine learning computer algorithms to enable the era of smart manufacturing.

Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

Contract manufacturing or 3PL data often will have a 24-hour latency due to batch integration. When they built the project, they did not realize that they did not have access to daily data daily for their third-party warehouses and contract manufacturing locations.

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Safety Stock Calculation For Your Wholesale & Distribution Business

EMERGE App

It commonly describes the additional stock that you keep in your inventory to reduce the risk of stockouts. Also, you may be carrying a product that has very long lead times for manufacturing. Optimal Inventory Level. So use your common sense when dealing with inventory metrics.

28 supply chain professionals share the biggest challenges of supply chain management

6 River Systems

Our supply chain involves a contract manufacturer, a third-party testing facility, warehouses to store inventory and a freighting company. John Moss @EnglishBlinds John Moss is the CEO of English Blinds , the manufacturers of bespoke window blinds and shades.

As Easy As ABC: Categorising and Managing Inventory

Unleashed

ABC analysis is an inventory management principle which stands for Always Better Control. It is based on the Pareto principle (20% of a commodity accounts for 80% of the net result) and can be very useful for management of a company’s inventory. In inventory management, this can be reworded to say that 80% of revenue is attributable to 20% of inventory. As you can probably guess, the 20% of inventory accounting for 80% of revenue is category A.

An Inventory Audit Guide for Wholesalers and Distributors

EMERGE App

However, we shall soon see why an inventory audit is critical for businesses dealing with physical stock. You shouldn’t confuse an inventory audit with two popular means of tallying your stock: physical stock takes and cycle counting. What is an Inventory Audit.

The complete guide to order fulfillment: types, channels, costs & finding the best fit

6 River Systems

For those in charge of warehouses and distribution centers, order fulfillment — the hyper-speedy kind — is a hot topic at the moment. To remedy this, many warehouses and distribution centers invest in WMSs, ERPs or WESs to help drive precise fulfillment. Warehouse Operations

Food Recalls and WMS: Benefits of Recall Functionality in a Warehouse Execution System

Veridian Solutions

The alert from the CDC reasserts the importance warehouses and distributors must place on supply chain visibility and traceability. A Guide to the Warehouse Metrics Supply Chain Execs Should Track. A Robust Warehouse Execution System Enhances Recall Functionality.

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50 expert tips on logistics planning and strategy

6 River Systems

NetSuite has launched a supply chain snapshot feature that’s a central part of any control tower that shows all of your inventory and related transactions with the ability to filter by subsidiary, location, etc. Think about how your warehouse might look in 2030. Warehouse Operations

Using ABC Analysis to Make Your Inventory Work For You

Unleashed

Whether you’re a manufacturer , a retailer or a trader, it’s important to keep on top of your inventory. Everything in your inventory has value – you’ve invested time and resources and money into each and every item, and you’ve done that because each and every item is worth something to someone else. Poor inventory control is expensive, especially if you sell or trade in a wide range of, or a high volume of, products. This metric is relevant to the next step….