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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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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.

Lean 182

Podcast: Rob O’Byrne on Digital Transformation, Sustainability, and Diversification in Sourcing

Requis

Manufacturing sites have been rationalized in terms of, “we don’t need five factories in this country, we only need three, then two, then we don’t need them at all, we’ll move them to China”. Circularity and sustainability are really hot topics in parallel with digital transformation.

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. For Pedro Paiva, Operations Director, EMEA for major footwear manufacturer Alpargatas, which owns the Havianas brand, they “Estimate that we will lose between 30% and 50% of sales this year.”.

Process Based Inventory Turnover Improvement!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory management is a critical area for most companies. Too much inventory, especially the wrong inventory, can negatively impact cash flow, return on investment, customer satisfaction, and profitability.

How Sustainability Will Fundamentally Change Your Supply Chain

Supply Chain Nation

As buyers have more access to information, companies won’t have a choice on whether to focus on a sustainable operation or not; it will be as baseline an expectation as one-day-delivery. This touches almost every aspect of supply chain in every industry: from ethical sourcing to incorporating recyclability into the design, to biodegradable packaging materials, to end-to-end supply chains that can lower waste, buffer, and excess and obsolete inventory.

Strategic sourcing enters a new age. Are you keeping up? (Part 2)

ivalua

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. Improving costs remains a core competency for any sourcing organization. Inventory. The post Strategic sourcing enters a new age.

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.

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. The source pointed to several trends that are encouraging the adoption of TMS, including better control of data, more comprehensive analysis and the need to support omni-channel supply chains. Manufacturing seems heading for a long awaited comeback.

3 Inventory Control Techniques to Improve and Maintain Inventory Accuracy

Unleashed

Inventory accuracy is vital to an organisation’s long-term success. Profits depend on the sale of inventory stock and if you don’t know what or how much you are selling then you could be missing an opportunity to maximise sales. Having poor and inaccurate inventory control can be costly because it causes issues such as unplanned stock-outs, the shipping of wrong products to customers, wasted resources trying to locate misplaced items and inventory shrinkage.

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?

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.

The Absolut Company: Balancing Service and Inventory Creates a Delicious Mix

ToolsGroup

The world’s #2 selling vodka brand leaves nothing to chance when it comes to quality and sustainability. With continuously shifting consumer preferences and brands around the world rushing to deliver delicious new options for alcoholic beverages, The Absolut Company has been able to navigate the increased complexity while staying true to its heritage and commitment to quality and sustainability. Blog Demand Planning Inventory Optimization Supply Chain Planning Featured

What is Vendor Managed Inventory? How to Make VMI Work

My Office Apps

What is Vendor Managed Inventory? Looking to streamline your supply chain and reduce inventory costs? You might want to look into Vendor-Managed Inventory (VMI). Vendor Managed Inventory is a business arrangement where the vendor of a product takes responsibility for making sure the buyer has the agreed inventory. Lean inventory levels – VMI allows your vendors to supply in-demand goods at the right time. The post What is Vendor Managed Inventory?

5 Ways Fashion Supply Chains Can Be More Sustainable

Elementum

And it's why more people are asking clothing companies to look deep into their supply chains and dig out the weeds: 66% of Millennials say they’re willing to pay more for products that are sustainably produced, and 37% of people are willing to switch to another brand if it provides more transparent labelling than their current brand. But achieving sustainability depends on removing these barriers to communicate standards and best practices?—?from 5 Ways to Achieve Sustainability.

5 Ways Fashion Supply Chains Can Be More Sustainable

Elementum

And it's why more people are asking clothing companies to look deep into their supply chains and dig out the weeds: 66% of Millennials say they’re willing to pay more for products that are sustainably produced, and 37% of people are willing to switch to another brand if it provides more transparent labelling than their current brand. But achieving sustainability depends on removing these barriers to communicate standards and best practices?—?from 5 Ways to Achieve Sustainability.

Four Critical Steps for CPG Manufacturers to Compete After a Crisis

DynaSys

The same concept works for business and manufacturing. As the world sorts through life with COVID-19 and trying to plan for the aftermath, many Consumer Packaged Goods (CPG) manufacturers and suppliers are developing and implementing risk management policies and procedures.

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.

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. Companies have realized that big data allows them unparalleled insight into the best ways to source raw materials and products, and the best ways to move those products to consumers – and Supply Chain Management has become a key strategic differentiator in a number of industries. Subscribe Here! Email Address.

Understanding the Key Factors Affecting Inventory Control for eCommerce Businesses

Unleashed

The nature of online businesses is significantly different in scale and operations to traditional retail outlets and as a result the scale of inventory stock can range from small home storage to vast, multiple warehouses facilities. Regardless of whether it’s a multichannel business, its size or nature of the business, it is essential to keep accurate records and track all the inventory stock items. Overselling inventory stock. Online inventory control systems.

Addressing sustainability threats to coffee supply chain using low-code technology

TrackVia

Volcafe Way is a sustainable sourcing strategy created to radically transform coffee production. They work directly with coffee farmers to assist and train them in sustainable production techniques and good agronomy practices, focusing on making the best use of their land for future generations. Low-Code ManufacturingHow Volcafe is improving farm practices, increasing productivity, and delivering higher quality.

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

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. Inventory cost is defined as the cost of holding goods in stock. If you are looking for warehouse cost reductions, chances are you are stocking too much inventory. Understand Data Integrity to Reduce Inventory Costs. Source: [link].

Lean 191

Three ways supplier collaboration creates real value for manufacturers

ivalua

Let’s examine three ways that better collaboration with supply partners creates value for a manufacturer from product design through demand planning. If you work in strategic sourcing and supplier management, supplier collaboration enables you to achieve (or beat!) If you work in the supply chain planning function, supplier collaboration will take the form of shared demand forecasts, inventory positions, and production schedules.

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

Logichain Solutions

Is it locally sourced or imported? 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. One of the biggest contributors to a sustainable supply chain is the sourcing of products.

Food 52

Your Supply Chain to Increase Efficiency and Sustainability

ThroughPut

Reassess Your Supply Chain to Increase Efficiency and Sustainability. Sustainability is a philosophy, not an endpoint. Companies should always be striving to become more efficient and less wasteful instead of assuming they’re already as sustainable as they want or need to be. Assess Supply Chains in Real-Time Everyone wins when supply chains become more sustainable, but doing so requires a conscientious effort.

Your Supply Chain to Increase Efficiency and Sustainability

ThroughPut

Sustainability is a philosophy, not an endpoint. Companies should always be striving to become more efficient and less wasteful instead of assuming they’re already as sustainable as they want or need to be. Everyone wins when supply chains become more sustainable, but doing so requires a conscientious effort. Sourcing and procurement departments exist to mitigate this issue, but input bottlenecks remain common.

Reassess Your Supply Chain to Increase Efficiency and Sustainability

ThroughPut

Sustainability is a philosophy, not an endpoint. Companies should always be striving to become more efficient and less wasteful instead of assuming they’re already as sustainable as they want or need to be. Everyone wins when supply chains become more sustainable, but doing so requires a conscientious effort. Sourcing and procurement departments exist to mitigate this issue, but input bottlenecks remain common.

12 Items You Need in Your Manufacturing Productivity Toolbox

USC Consulting Group

The story of the manufacturing industry has been one of progress. Few manufacturers continue to produce the same products as they did in their infancy years. In order to remain competitive, manufacturers must continue to evolve their products to meet the demands of the marketplace. New technology brings a host of changes that manufacturers must recognize. These tools are ideas manufacturers can keep in their toolbox and use to produce next-level productivity.

Tools 48

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

Logichain Solutions

Is it locally sourced or imported? 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. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Here are some key factors organic food companies need to consider to ensure a sustainable supply chain: Sourcing.

Food 40

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

Logichain Solutions

Is it locally sourced or imported? 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. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Wherever possible, food, ingredients, and packaging should be sourced locally. However, it is not always possible to source all ingredients locally.

Food 40

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

Logichain Solutions

Is it locally sourced or imported? 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. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Wherever possible, food, ingredients, and packaging should be sourced locally. However, it is not always possible to source all ingredients locally.

Food 40

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

Logichain Solutions

Is it locally sourced or imported? 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. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Wherever possible, food, ingredients, and packaging should be sourced locally. However, it is not always possible to source all ingredients locally.

Food 40

Melitta: Collaborating for an Improved Forecasting Process

ToolsGroup

Melitta Sales Europe (MSE) embarked on an initiative to revamp existing planning and forecasting processes to increase efficiency and sustainability. Blog demand forecasting inventory optimization supply chain planning Image: coffee equipment in kitchen

Manufacturing Operations Management – A Guide for Better Shop Floor Control

ThroughPut

What is Manufacturing Operations Management? Manufacturing Operations Management (MOM) is a long-term holistic solution that gives complete visibility into plant floor operations to help consistently improve manufacturing operations performance. What is Manufacturing Operations Management Software? How can Manufacturing Operations Management Software help? Here is how MOM software helps manufacturers: 1. Single-source of up-to-date processing data.