New Horizon Supply Chain Blog

FEBRUARY 8, 2024

Introduction: Procurement Planning for Distribution-Intensive Businesses Procurement planning is not a widely recognized category of supply chain software, but it should be. The resulting plan should maintain adequate safety stock levels for each purchased item while reducing inventory costs.

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Procurement Solutions Optimal Sourcing Supply Chain Planning Software Manufacturing Procurement 52

Logistics Viewpoints

APRIL 11, 2024

Manufacturers of these weight loss drugs face a multi-headed hydra of the three c’s: coverage, competition and capacity. Supply chain orchestration enables seamless collaboration All this tinkering undoubtedly involves effort from across the supply chain, from sales to procurement to manufacturing to distribution and more.

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Pharmaceutical Supply Chain Planning Software Supply Chain Planning Agile and Lean Supply Chain 231

Logility

AUGUST 31, 2023

In most cases, their legacy ERP or supply chain solutions cannot support the real-time, frequent forecasting and inventory planning needed to get ahead of margins pressures, rising costs, and shifts in consumer demand. Batch manufacturing is more controlled and optimized, improving inventory turns and production scheduling efficiency.

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Consumer Goods Network Optimization Software Optimal Sourcing Inventory Reduction 185

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success. What does a procurement manager do?

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Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Supply Chain Game Changer

MARCH 9, 2022

Featuring Our 12 Best Procurement Articles! Procurement operations are the backbone of every company’s supply chain. Fundamental to procurement is the acquisition of goods and services from a party that’s further up the supply chain. This document is the first legal contract in the operational procurement process.

Optimal Sourcing 108

Optimal Sourcing Manufacturing Procurement Procurement Solutions Procurement Analytics 108

Silvon Software

APRIL 19, 2022

Procurement is one core process area being focused to better manage today’s fluctuating change, with key performance metrics leading the way to assessing and managing procurement performance. The Basics of Procurement KPIs. A decrease in the compliance rate results in an increase in indirect procurement or maverick spending.

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Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 113

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. Procurement can be done by a government agency, a private organization, or an individual, and it can involve purchasing anything from pencils to complex machinery. What Are the Types of Procurement?

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Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

ToolsGroup

OCTOBER 25, 2022

More than ever, seasonal inventory needs to be carefully accounted for during the demand forecasting and inventory planning process , ensuring right-sized inventory that can meet customer expectations while limiting the spend and use of working capital. Benefits of Effective Seasonal Inventory Management.

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Inventory Reduction Inventory Optimal Sourcing Supply and Demand 156

Precoro

SEPTEMBER 2, 2022

However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. It pays off to develop a procurement strategy, hire a team of professionals, and acquire necessary technologies early on. Being prepared allows for efficient and timely execution of procurement functions.

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Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 98

Unleashed

FEBRUARY 12, 2024

Inventory carrying cost is an essential figure to understand. Without it, you’ll struggle to accurately measure profitability or make informed decisions around inventory management and cash flow. What is inventory carrying cost? Why is inventory carrying cost important?

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

Synovos

DECEMBER 5, 2023

They were a new company that had taken over an existing manufacturing plant and lacked the infrastructure needed to keep the facilities in good working order, whether that was buyers to order parts or an accounts team to manage the purchasing process. Not having to manage the indirect procurement process retains advantages for the client.

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Manufacturing Procurement Food Purchasing Skills Supply Chain Software 52

Supply Chain Shaman

SEPTEMBER 28, 2022

Navigating through the turmoil is unprecedented: there are no easy reference models to guide behavior. In this volatile world, efficient procurement led by a CFO is not the answer. The manufacturing-centric company is used to strangling suppliers and demanding terms. Multi-tier inventory management by itself was not sufficient.

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Manufacturing Procurement Supply Chain Design Software Network Design Software Supply Chain Planning Software 195

Supply Chain Shaman

APRIL 26, 2022

As a recent college graduate, he was chartered with running manufacturing discrete event simulation for an automotive company. He worked for the North American manufacturing team and struggled with the imposed standards by the centralized center of excellence. Before the session, I sat by a young data scientist. He was frustrated.

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Manufacturing Procurement Optimal Sourcing Supply Chain Planning Software Procurement Analytics 217

Logility

JULY 14, 2022

based furniture manufacturer. based furniture manufacturing company who needed support rightsizing its inventory across its global supply chain network and reducing safety stock. References below to the Company means Logility, Inc. Supply and Demand Chain Executive honors results-proven partnership with large U.S.-based

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Logility Supply Chain Planning Software Supply Chain Software Logistics Network Optimization Software 173

Unleashed

DECEMBER 21, 2023

Without the right inventory management solutions in place, it’s almost impossible to maintain optimal stock levels, minimise costs, and improve overall efficiency – all of which are essential to ongoing business success. In this guide: What are inventory management solutions?

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Inventory Reduction Inventory Management Software Vendor Strategies Cost Reduction Strategies 52

Precoro

OCTOBER 6, 2022

With the global market expansion and deepening supply chain complexity, the roles of procurement leaders have evolved from tactical to strategic. Nowadays, procurement departments not only focus on the day-to-day buying operations but also search for the most efficient ways to go about them. Types of Procurement Analytics.

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Manufacturing Procurement Procurement Solutions Procurement Analytics Pricing Training 98

Precoro

NOVEMBER 7, 2022

In order to run a successful business, you need a dedicated procurement team to obtain these essential goods and services, ensure timely delivery, and nurture good relationships with your vendors. Paying for offices, utilities, technology subscriptions, and cleaning services is also part of the procurement team's responsibility.

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Manufacturing Procurement Procurement Solutions Optimal Sourcing Procurement Analytics 52

ShipBob

DECEMBER 13, 2023

The success of any ecommerce business depends greatly on how it manages its inventory health. Now, for some, inventory health may not be an immediate concern. You might say, “I’ll just order plenty of inventory and wait until it sells out.” What is inventory health?

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Optimal Sourcing Optimization Software Inventory Reduction Inventory Management Software 52

Resilinc

APRIL 17, 2024

While it may seem smart to simplify procurement and lower costs, single sourcing can actually expose businesses to risks that can jeopardize their operations and bottom line. Single sourcing and sole sourcing are two different procurement strategies in supply chain management. What is single sourcing and sole sourcing?

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Sourcing Strategies Optimal Sourcing Manufacturing Procurement Negotiate Pricing 101

Supply Chain Matters

JUNE 9, 2023

Supply Chain Matters highlights for readers a published report noting how various manufacturers are seeking and establishing added resiliency and control of component and production networks. Bloomberg reported in November 2022 that shipments of motor vehicles, computer parts and boats, manufactured in Mexico and destined for U.S.

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Manufacturing Procurement Expense Reduction Cost Reduction Strategies Resource Reduction 52

Supply Chain Shaman

FEBRUARY 14, 2022

Notice how the water turns from blue to brown in Figure 3 with the lack of demand translation capabilities within the enterprise for manufacturing and logistics. Companies tightly coupling the budget to S&OP have significantly higher inventories and lower growth than their peer group. Mistake #3. The order represents true demand.

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S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.

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Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 76

Kanban Logistics

SEPTEMBER 9, 2021

The past few years have been quite the rollercoaster for manufacturers. In this article, we’ll look at the latest reports on manufacturing activity, while showing how a third-party logistics (3PL) provider can offer great logistics benefits within the manufacturing industry. Inventories were up 5.3%. Kitting services.

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Manufacturing Procurement Procurement Analytics 3PL Logistics Network Optimization Software 52

Unleashed

FEBRUARY 8, 2023

Product businesses are holding more stock than ever before, creating new cash flow problems for manufacturers. James Ewing: Procurement Manager at Renewable Parts Ltd. Tim Wright: Founder of two medical equipment manufacturing companies and currently MD of Langcroft Consultancy – specialists in digital transformation.

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Manufacturing Procurement Supply Chain Planning Software Optimal Sourcing Supply Chain Software 98

Logistics Viewpoints

APRIL 14, 2022

Supplier problems will cause a cascade of problems up and down the value stream, leading to supply order delays that cause inventory shortages, production disruptions, missed shipments and lost revenue. The study found that these leaders considered the largest gap to be between supply chain and procurement, citing it as a major issue.

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Supply Chain Planning Software Supply Chain Software Forecasting Software Procurement Solutions 208

Unleashed

JULY 23, 2023

Key Performance Indicators (KPIs) help manufacturers determine operational strengths and flaws. By tracking the right manufacturing KPIs in your production operations you can accurately monitor performance to ensure the consistent and timely delivery of quality products. In this manufacturing KPIs guide What are KPIs in manufacturing?

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Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

Supply Chain Shaman

SEPTEMBER 22, 2022

For more on the building of the planning master data layer, reference the ASCM presentation from last week.) Using better math to build an inventory plan for raw materials is a good idea. Procurement/Buyers Workbench. The problem is that DDMRP assumes that the order is a good proxy for demand. As a result, DDMRP is a fad.

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Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Modeling 405

Unleashed

JANUARY 24, 2022

Maintaining healthy levels of Maintenance, Repair and Operations (MRO) inventory is essential to the smooth running of your manufacturing, distribution or wholesaling operation – even if MRO goods aren’t part of your final products. Learn more: What is Inventory Management? Techniques for 2022 What is MRO inventory?

Inventory Reduction 98

Inventory Reduction Inventory Management Software Procurement Solutions Supply Chain Software 98

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Breaking Boundaries: Exploring Generative AI’s Impact on Supply Chains Supply chains encompass many interconnected activities, from procurement, production, and inventory management, to logistics and distribution. These activities involve numerous stakeholders, such as suppliers, manufacturers, distributors, and retailers.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

Unleashed

OCTOBER 23, 2023

Efficiency in manufacturing comes from having the right preparation and the most cost-effective processes in your arsenal. It describes how goods will be manufactured, the expected demand for those goods, and any production requirements such as materials or labour. The first step in achieving these aims is called production planning.

Waste Reduction 98

Waste Reduction Resource Reduction Inventory Reduction Material Savings 98

EMERGE App

DECEMBER 25, 2023

These challenges encompass Purchasing, Production Planning, Sales-Distribution, Inventory Management, Warehousing Management, Human Resource Management (HRM), and Finance. The importance of Inventory management in business Inventory management holds immense importance in business operations.

Inventory Management Software 52

Inventory Management Software Supply Chain Planning Software Procurement Solutions Inventory Management 52

Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

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Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

Supply Chain Opz

JUNE 23, 2014

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. The reason is that most people now realize the value of planning practice like Sales and Operations Planning (S&OP).

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Inventory Management Software Inventory Management Inventory Reduction Inventory 220

Taulia

SEPTEMBER 7, 2022

But those goods and materials, referred to collectively as inventory, can be difficult to manage efficiently – especially at scale. Ineffective management of inventory can be extremely harmful to operational success. But, to complicate matters, there’s more than one inventory management strategy to choose from.

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Inventory Management Software Inventory Reduction Inventory Management Material Savings 52

Unleashed

MARCH 21, 2021

The procure to pay process is complex and far more than simply making a phone call, or sending a few emails to arrange the purchase of goods. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Measuring and reporting.

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Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

EMERGE App

DECEMBER 25, 2023

These challenges encompass Purchasing, Production Planning, sales distribution, Inventory Management , Warehousing Management , Human Resource Management (HRM), and Finance. The importance of Inventory management in business Inventory management holds immense importance in business operations.

Inventory Management Software 52

Inventory Management Software Supply Chain Planning Software Procurement Solutions Supply Chain Design Software 52

Unleashed

AUGUST 20, 2023

If a manufacturer has to wait an extra day for raw materials to arrive, they might lose a customer. In manufacturing, for example, lead time refers to the amount of time it takes for a product to move through the entire production process , from when the initial order or request was made to the final delivery. Let’s dive in.

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Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52