Inventory Can Be Scary

ToolsGroup

“Your inventory problem is scary because you’re selling out before you can make new items to meet demand”. Many retailers agree that inventory can be scary. Inventory distortion” (the combined cost of out-of -stocks and overstocks) accounts for $1.1

How to Learn About Supply Chain Research From Around the World in a Few Hours

Supply Chain @ MIT

An apparel company aims to evaluate the effect on inventory levels of postponing a manufacturing operation. MIT CTL Strategy Talent Mgmt Bogota Malaysia Massachusetts Institute of Technology MIT Research Expo supply chain innovations Supply chain research Zaragoza Spain World view.

MIT Research: The Effects of Dynamic Safety Stocks on Inventory and Service Levels

RELEX Solutions

We worked alongside Dan Covert and Joaquin Ortiz on their Master Thesis “Dynamic Customer Service Levels: Evolving Safety Stock Requirements for Changing Business Needs” for the Massachusetts Institute of Technology. The Right Inventory at the Right Time.

Dave’s Soda and Pet City Selects Herlitz Inventory Management for HIMPACT to Increase Profit and Efficiencies in its Supply Chain

Herlitz Inventory Management

Herlitz IM deployed the inventory and buying solution in 40 days, which included training the company’s buying team. Carl Herlitz, President and CEO of Herlitz Inventory Management shared, “We’re pleased to partner with Dave’s Soda and Pet City to help their team optimize its demand chain.

What is Supply Chain Compliance and Why is it Important?

AB&R

Massachusetts. Asset Management Blog Inventory Management Managed Services Manufacturing RFID Transportation & Logistics asset management barcode verification compliance labeling GS1 harsh environment labeling UDI

Epitaph

Supply Chain Shaman

They were born from well-intentioned, bright professors from great schools – Boston College, Carnegie Mellon, and Massachusetts Institute of Technology (MIT )– in operations research. It was called multi-enterprise inventory optimization. In the beginning, the inventory management solutions of LogicTools , Optiant and SmartOps pushed to take operations research to a new level through supply chain optimization. Inventory is now the primary supply chain buffer.

Top 14 Logistics and Supply Chain Management Training Programs and Courses in 2016

Cerasis

From these lessons you will learn to plan supply chains that enhance inventory network benefit, build and amplify production network coordination and joint effort, identify dangers and configuration hazard relief systems, explore production, purchasing, and distribution methodologies for a worldwide environment. Another opportunity to study logistics for free is Massachusetts Institute of Technology (MIT).

Course 191

Experts Discuss How to Streamline Global Supply Chain

Supply Chain Opz

Reducing lead times from suppliers can help turn inventory faster, freeing up cash and ultimately satisfying customers. This increases flexibility and translates into less overall inventory since it is not in the wrong place.

Global 280

Waste Not, Want Not: Thanksgiving and the Food Waste Conundrum

Elementum

Grocery retailers always risk losing precious inventory, but never is it more critical to receive the right foods at the right time than during Thanksgiving week. Offering surplus inventory at bargain rates is a sure way to salvage post-holiday profits and mitigate waste. Since 2016 the chain has also been converting food waste to sustainable fuel for its distribution center in Massachusetts.

Food 84

Supply Chain Redesign: A Conversation with Lennox International’s Keith Nash

Talking Logistics

Some of the key benefits we’ve realized are lower transportation costs, record service levels and shorter cycle times, and better inventory accuracy. Adam graduated from the University of Massachusetts in 1997 with a degree in Natural Resource Economics. Last month on Talking Logistics , Adrian Gonzalez, Keith Nash (VP Supply Chain Logistics at Lennox International ) and I discussed “Lennox International’s Complete Supply Chain Redesign.”

New Year’s Resolution #1 for Supply Chain Planners: Improve Performance Measurement

Demand Solutions

I’m not sure I’ve ever talked to a Demand Solutions customer who wasn’t at least tracking their inventory levels, overstocks, stockouts, and so forth. When an item is out of stock in their Massachusetts warehouse, they’ll overnight it from their Texas warehouse just to make sure they fill the order. And don’t forget to measure inventory turnover using the simple equation of turnover = annual sales / average inventory.

When You Focus on Getting the Best Deal Insead of Developing the Best Relationship

Talking Logistics

is fighting to get equipment and inventory from a family-owned auto parts supplier that filed for chapter 11 bankruptcy protection last week, saying a contract dispute threatens to shut down 19 GM assembly plants in North American and lead to ‘tens of millions of dollars in losses.’” CCM) a 115-year-old interiors supplier based in Massachusetts, filed bankruptcy Thursday and blamed the move on an unprofitable contract with GM that has drained it of $30,000 a day since 2013 [emphasis mine].

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

Cerasis

The concept of a network of smart devices was discussed as early as 1982, with a modified Coke machine at Carnegie Mellon University becoming the first internet connected appliance, able to report its inventory and whether newly loaded drinks were cold.

E-commerce and the Digital Path to Purchase

Enterra Insights

According to the staff at Klarna, “The first glimpse of online commerce was experienced by some students at MIT (Massachusetts Institute of Technology) in the 70’s. … Attempting to unite channels without properly setting up and maintaining inventory and order management is futile.” Retailers have always been curious about the paths consumers take when they decide something needs to be purchased.

Omnichannel Fulfillment and the Amazon Effect

Enterra Insights

” Despite the benefits listed by Gustafson, Professor Yossi Sheffi ( @YossiSheffi ), the Elisha Gray II Professor of Engineering Systems at the Massachusetts Institute of Technology, asserts the click-and-collect strategy has serious flaws.[3] Warehouse organization : Check the merchandise, warehousing, inventory management; 2.

Drones in Distribution: Thinking Inside the Box

Logistics Bureau

However, a number of drone-tech companies, following an interesting breakthrough made by MIT technologists, are now producing UAVs designed specifically for warehouse inventory management.

Running on autopilot

Kinaxis

It’s been four years since Amazon spent $775 million to acquire Kiva Systems, a Massachusetts-based startup that makes warehouse robots and software. It’s just moving inventory around,” says Dave Clark, Amazon’s vice president of worldwide operation.

Join Thousands of Students in MIT’s Digital Supply Chain Classroom

Supply Chain @ MIT

The SCx curriculum is part of the MITx initiative, the Massachusetts Institute of Technology’s selection of massive open online courses, or MOOCs. The main topic areas are: Demand Forecasting, Planning, and Management, Inventory Planning, Management, and Control, and.

Five Tips on Sourcing Products From China

EMERGE App

Finally, whether you’re purchasing products locally or from overseas, be sure to use an order, purchase and inventory management system that’s written from the ground up to support international and domestic trade. Bill hails from Nantucket, Massachusetts. Introduction.

Automating Processes Helps Utility and Service Providers Mitigate Risk

TrackVia

For Utilities and their service providers, the recent gas explosions in Massachusetts are another unfortunate reminder of the importance of having rigorous record keeping procedures and systems in place, with safety-oriented operational procedures that are transparent, efficient, and timely. Although the investigation into the specific cause of the explosions in Massachusetts is still undetermined, it reminds me of a headline from a few years ago PG&E slapped with record $1.6

Reducing Supply Chain Costs

Logistics Bureau

When the uncertainty is in product demand and supply, the insurance is the stockpiling on inventory “just in case”. Holding inventory costs money in more ways than one. Suppliers collocate close to the customer’s site to store all the inventory needed for the site to function.

Activant Anticipates More Virtual Collaboration in B2B Distribution

Supply Chain Network

Activant’s systems are designed to help customers increase sales, boost productivity, operate more cost-efficiently, improve inventory turns and enhance trading partner relationships. Headquartered in Livermore, California, Activant has operations in Texas, Colorado, Illinois, Massachusetts, Pennsylvania, South Carolina, Canada, Ireland and the United Kingdom. Activant Solutions Inc.,

Want to Help With FEMA Loads? It's Complicated.

DAT Solutions

Trucks, warehouse space, and logistics services are needed in Florida, Georgia and even Texas, and they may be required soon in Massachusetts or New Jersey. First there was Harvey, then Irma. Clean-up and emergency relief efforts are still underway in Texas, Florida and surrounding regions.