Multi-echelon Inventory Optimization vs Inventory Optimization

ToolsGroup

Now consider that by not optimizing your inventory from a global vantage point you may be creating, if not outright chaos, a much less efficient network than you could have. The basic approach to inventory optimization. The multi-echelon inventory optimization approach.

Supply Chain Inventory Optimization – Beyond the Analytics

GlobalTranz

While analytics offer remarkable insights into supply chain inventory optimization, warehouse managers must still understand how the use of slotting optimization technology impacts other processes. With 7 percent of America’s gross domestic product (GDP) tied up in inventory, reports the 21 st Century Supply Chain Blog , your organization must go beyond the analytics and understand the broad impact of analytics in your company. Better Inventory Management Needs Complete Control.

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Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

The impact of complexity on inventory is not quick. To help, today I want to share some of the insights from our recent Inventory Optimization study. Inventory management is a hot issue. Companies invest in project after project, yet inventory levels remain the same. In business there are many drivers of inventory, and the management of inventory levels requires discipline and a cross-functional focus. What Drives Inventory Effectiveness?

Transportation Management

LeanCor

The Laws of Lean Transportation Management. There are all these things in life that we think “Oh, I cannot live without that,” and if it wasn’t for transportation management we most likely would not have anything we want or need on time. Transportation, like inventory, is necessary activity within logistics. Fast, efficient transportation explains a great deal about why cities develop where they do. Transportation Management Cost Consideration.

11 Inventory Management Best Practices

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Management Best Practices article originally published by, and permission to publish here provided by, Dave Joseph at veridian.info. Use ABC Analysis to Categorize Your Inventory. Guest Blog Post Inventory Managemen

Turn a Good Demand Forecast into the Optimum Inventory Plan

ToolsGroup

How Do You Turn a Good Demand Forecast into the Optimum Inventory Plan? They care if you have the inventory they want when they want it. But carrying too much inventory can reduce profits and might not be practical for some items such as fresh goods.

The Transportation Supply Chain: Transportation’s Role in Supply Chain Management to Lower Total Costs

GlobalTranz

One of the often missing links, however, in supply chain visibility, is transportation management. We call this the transportation supply chain. What is the Transportation Supply Chain? Transportation refers to the movement of product from one location to another as it makes its way from the beginning of a supply chain to the customer’s handle. Any supply chain’s success is closely linked to the appropriate use of transportation.

12 Types of Inventory: Complete Information

EMERGE App

Inventory is the store or stock of goods. The goods are retained at hand or nearby to allow the business to meet the demand fulfilling its reason to exist. And in this post, you’re going to know the type of inventory exists. Four Types of Inventory. Cycle Inventory.

Four Things You Probably Didn’t Know About Inventory Planning and Sustainability

ToolsGroup

I think it’s time we started spreading the good news: when you harness demand and inventory planning to slash unnecessary expenses and improve service to customers, you also reduce waste and support sustainability. Smart inventory planning cranks up manufacturing efficiency.

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

GlobalTranz

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Warehouses should also consider implementing these best practices to ensure effective warehouse management and maintain control and flow of inventory.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory. Inventory optimization can help overcome these errors to a large extent.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory. Inventory optimization can help overcome these errors to a large extent.

Food inventories ‘literally being eaten into,’ Americold says

The Supply Chain Journal

Food producers’ inventory is “literally being eaten into,” said Fred Boehler, president and CEO, on a Thursday evening call with analysts. Elevated inventories in the first quarter of 2020 also hurt the comparison.

Higher Transportation Costs Lead to Last-Mile Transformations

Logistics Trends and Insights

Transportation networks, no matter the mode, are strained and are struggling within supply chain networks that are no longer optimized for the ‘new norm,’ that is, the need for faster, continuous inventory replenishment to meet online demand, not in-person demand.

10 Ways Effective Transportation Management Drives Competitive Advantage

GlobalTranz

Transportation management is no longer a tactical approach to simply moving freight and doing it at the lowest possible cost. There are several factors that exist today that are forcing shippers to use even more resources, which distract from their core competencies , in order to have a strategic and much more nuanced, complex transportation management practice. 10 Tips to Remain Competitive and Have an Effective Transportation Management Strategy.

Lean Transportation: Are you Using Lean Thinking for Transportation Management? If not, Why?

GlobalTranz

For shippers, culture and behavior have to change to apply Lean Transportation thinking. The “Them (company leadership) versus Us (shop floor associates)” mentality also needs to change for Lean Transportation to " WE. The 8 Rights To Achieve Lean Transportation Practices. The are the 8 Rights of Lean Transportation thinking: Right Materials, Right Quantity, Right time, Right Place, Right Source, Right Price, Right Quantity, and. Transportation takes time.

Lean 179

The Many Types of Inventory Management Technology

GlobalTranz

There are diverse types of inventory management technology and systems, designed to properly sort, control and act upon information with a company’s inventory. As explained by Kenneth Hamlett of the Houston Chronicle , the two dominant types of inventory management technologies include manual and automated systems. But, there are additional levels of inventory management in between. The basic and most limited type of inventory management system is a manual system.

Transportation Sourcing in an Omni-channel World

Talking Logistics

Omni-channel is transforming retail transportation’s supply chain and logistics processes. Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. And, what are some of the key factors retailers need to consider when developing their transportation plans?

Why OmniChannel Solutions are Needed in Shipping & Logistics to Meet Consumer Demand

GlobalTranz

For example, small-business e-stores have managed to create environments that allow customers to see inventory in real time, reducing problems with excessive ordering. Twitter Facebook Google+ LinkedIn The post Why OmniChannel Solutions are Needed in Shipping & Logistics to Meet Consumer Demand appeared first on Transportation Management Company | Cerasis.

Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

GlobalTranz

Controlling inventory flow is a top priority among warehouse managers, and gaining control over inventory drives warehouse efficiency. Controlling Inventory Flow Begins With Liquidate Nonessential Products. The first step to controlling inventory flow effectively is liquidation of all non-essential products, explains Paul Trujillo of Business2Community. This will help to prevent the reordering of slow-moving products and ensure optimum inventory levels.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

GlobalTranz

Editor’s Note: Cerasis is a 3PL focused on transportation management. So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. Each blog post written is distributed into groups that reach the supply chain community as well as professionals in manufacturing, transportation, distribution, and more.

Visibility in Transportation Management Leads to Supply Chain Excellence

Talking Logistics

If you’re not able to clearly see, examine, impact and manage every aspect of your supply chain and inventory processes – order status, shipments, in-transit goods, trade documents, costs, exceptions and more – you might as well be operating with blinders on. Did they meet the customer delivery requirements? Gaining end-to-end visibility across your transportation processes delivers: $32.00

IoT Inspired Smart Warehouses Are Reinventing Inventory Management

GlobalTranz

The internet allows for unlimited scalability and boosted efficiency in warehouse inventory management. The so-called “smart warehouse” takes advantage of these defining factors by connecting systems to streamline inventory management and overall productivity. Warehouse managers must understand why changes of standards and use of the Internet of Things (IoT) are needed and how smart warehouses can meet the demands of today and tomorrow.

4 Benefits Shippers Realize when Transportation EDI is Utilized in a TMS

GlobalTranz

As a shipper in today’s growing market, there are many advantages to shifting to the use of transportation EDI with your transportation providers or 3PLs. If you are unfamiliar with the concept of EDI, read our first post in this series on what is EDI in transportation and how it works , but as a quick recap, essentially, EDI takes human interaction out of the equation completely, and lets technology take over.

Designing Your Business to Meet Customer Expectations

Transplace

Designing Your Business to Meet Customer Expectations. The modern business world has brought many new innovations, and the transportation industry has become a beneficiary to a number of these changes over the past few years. This could include free and expedited shipping or having dependable inventory in a brick-and-mortar store. Transportation is just one component of a supply chain that must work in harmony with other parts in order to be effective.

How Does Transportation Affect Logistics?

Abivin

Transportation is an inseparable component of logistics. While the sights of trucks and trains carrying products of a company or parked at a business facility are common, few people understand how much the economy depends on economic and reliable transport. What is transportation? Transportation is one of the largest industries in the world. Transportation is a key element in the logistic chain. Image Source) There are different modes of transportation.

Top 5 Ways Inventory Tracking Technology Is Evolving

GlobalTranz

Inventory tracking is among the top areas most impacted by omnichannel supply chain strategies, and consumer spending habits are forcing inventory tracking technology to evolve, making sure consumers can get the products they want, through the media and channels they want, and at the prices they want. However, inventory tracking technology is evolving, and your company needs to understand how it will promote omnichannel shopping strategies.

Greater Supply Chain Savings Thanks to Transportation Management

GlobalTranz

Meanwhile, the increasing number of regulations and requirements on shippers has created a paradox between saving money and still meeting all requirements. Therefore, more companies have partnered with third-party logistics providers ( 3PLs ) to achieve greater supply chain savings and presence in such markets through enhanced transportation management systems ( TMSs ). Greater Supply Chain Savings Thanks to Transportation Management.

E-Commerce and TMS: The Role of Transportation Technology for Shippers to Kill It at E-Commerce

GlobalTranz

E-Commerce Is Spurring Record Growth in Logistics E-commerce has made it impossible to meet the status quo with traditional technologies, and still, some shippers have not yet implemented e-commerce and TMS solutions. Transportation managers are spending upward of 80 percent of working hours just looking for available shipping capacity, reports Talking Logistics , reflecting a portion of companies that have not leveraged the power of a TMS.

11 Inventory Management Best Practices & the Role of Technology

Veridian Solutions

Supply chain leaders are continuously looking for ways to improve inventory management, and the role of technology in the supply chain offers significant advantages. Instead of relying on traditional, outdated inventory management best practices, supply chain leaders should follow these 11 steps to leverage technology and improve inventory management at last. Use ABC Analysis to Categorize Your Inventory. Recognize the Relationship Between Sales and Inventory.

Retail Inventory Management Tips to Get The Most Out of Your Warehouse

GlobalTranz

The wrong retail inventory management strategy increases carrying costs and makes it impossible to stay competitive. Common obstacles encountered when it comes to effective inventory management include having poor visibility into fast-moving versus slow-moving product, extensive travel times between bin locations, and lost revenue due to poor labor productivity. Count all physical inventory, using technology where possible. Customize your inventory management strategy.

Why Reverse Logistics Systems and Transportation Management Should Be Considered Together

GlobalTranz

Companies that integrate reverse logistics systems into their logistics systems distinguish themselves from competitors in: effective management of inventory availability and cost. In the interest of both, businesses are increasingly tying reverse logistical operations to transportation management as a natural fit. Many companies now outsource transportation, accounting, logistics technology, accounting, and other systems management.

Top 5 Questions About Keeping Transportation In-House

Talking Logistics

Is this true for your in-house transportation management department? Why would you hand over your transportation management to someone else? There are viable reasons to outsource the system, people, or both; for example, your transportation requirements are not unique enough to staff a full department. Other segments in your business could be outsourced, but a core function like transportation planning within your supply chain might not be one of them.

Preventing 3 Common Inventory Control Issues

Unleashed

For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control , however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities and unhappy customers and product spoilage or dead inventory stock which will incur unnecessary costs and tie up storage space.

5 Engagement Strategies in Managing a Relationship With a Transportation Management 3PL

GlobalTranz

This is our 9th post in our strategic transportation management and logistics series. When selecting a transportation mangement 3PL to aid you in a robust and effective transportation management strategy , defining the rules of engagement is critical to success. When you do engage and hire a 3PL for effective transportation management, it is vital that you look at this relationship as a partnership and not a commodity.