Silvon Software

APRIL 29, 2022

Inventory can be a manufacturer’s most important asset. But a large inventory has its own liabilities such as cost to store and insure it, along with the risk of spoilage, theft and damage. The Basics of Inventory Management KPIs. Every inventory KPI needs a clearly defined goal.

Optimal Sourcing 106

Optimal Sourcing Inventory Reduction Procurement Analytics Price Mitigation Strategies 106

Unleashed

OCTOBER 16, 2023

Raw material inventory management oversees the procurement, handling, and storage of raw materials. It ensures you maintain optimal raw materials inventory levels, and therefore plays a crucial role in optimising your manufacturing processes. In this guide: What is raw material inventory management?

Inventory Management Software 52

Inventory Management Software Material Savings Inventory Management Inventory Reduction 52

Precoro

JULY 16, 2023

In other words, the purchasing manager is responsible for securing inventory requirements within the company’s budget and overall efficiency of the company’s purchases. This individual also ensures that established purchasing practices align with the general company financial strategy and business objectives.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Unleashed

JULY 23, 2023

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. KPIs in manufacturing are quantifiable production metrics used by manufacturers to measure production performance over time.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

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.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 98

Logistics Bureau

AUGUST 2, 2021

On this blog and the one published by our sister company Logistics Bureau, we often receive questions relating to metrics suitable for monitoring procurement performance. To answer some of those inquiries, we decided to release the following brief overview of what we believe to be the most helpful procurement KPIs.

Procurement Analytics 98

Procurement Analytics Procurement Solutions Optimal Sourcing Procurement 98

SYSPRO Smarter ERP

JULY 12, 2022

As supply chain disruptions continue the procurement function should adapt to improve transparency, build collaborative relationships, and ensure sustainable sourcing practices, resulting in a stronger, more resilient supply chain with Cloud ERP for manufacturing. However, as teams become remote manual procurement has hampered operations.

Manufacturing Procurement 105

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement Solutions 105

GlobalTranz

APRIL 25, 2016

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. Inventory measurement is critical and it is money after all in that it took a capital expense to procure. Inventory measurement is critical and it is money after all in that it took a capital expense to procure. We still focus on costs.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

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?

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Silvon Software

SEPTEMBER 26, 2023

Fortunately, modern analytic tools like Silvon’s Stratum solution offer pre-defined metrics and data visualization capabilities to simplify the process of creating and sharing KPI dashboards and reports to management and departmental teams throughout the business.

Procurement Analytics 94

Procurement Analytics Optimal Sourcing Manufacturing Procurement Inventory Reduction 94

Supply Chain Shaman

SEPTEMBER 22, 2022

Companies would be better served to measure plan adherence, plan quality, and process latency and train their planners while saving the time and energy of thinking about lights-out planning. Using better math to build an inventory plan for raw materials is a good idea. Procurement/Buyers Workbench. Real-time Planning.

Supply Chain Planning Software 405

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Modeling 405

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?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

ShipBob

FEBRUARY 3, 2023

As a retailer, so much of your time and energy goes into managing your inventory , streamlining your logistics, building partnerships, and curating the customer experience. By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance.

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

ThroughPut

OCTOBER 16, 2022

Inventory Optimization to Unlock Supply Chain Efficiencies with Cost Reduction. A recent survey shows that 40% of the supply chain industry is already optimizing its inventory and networking tools by adopting advanced technologies and this percentage is said to grow in the next five years. INVENTORY STRATEGY. DEMAND FORECASTING.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Inventory Management 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.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

Silvon Software

APRIL 18, 2024

These technologies are not just transforming business areas like sales, procurement, production, distribution and others by streamlining data categorization and insight generation; they are reshaping entire business landscapes by offering real-time intelligence that informs strategic decision-making across all core areas.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 52

Logistics Viewpoints

OCTOBER 12, 2023

While working on this at Walmart, we created a hypothesis: if highly perishable produce is moved through a supply chain faster, it will improve the customer freshness perspective because the produce will be of a higher quality. The same “If” statement was repeated for a host of financial and operational metrics.

Supply Chain Design Software 228

Supply Chain Design Software Supply Chain Design Supply Chain Planning Software Supply Chain Planning 228

Logility

AUGUST 15, 2023

But instead of reaching just one peak, supply chain planners must climb four – service, inventory, cost, and sustainability. Coordinate every step with insight and action Companies using a platform that synergizes service, inventory, cost, and sustainability stand at the precipice of a highly progressive approach to supply chain planning.

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 130

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes.

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

RFgen

MARCH 20, 2023

Key Takeaways: Inventory control involves the management of products and services across the supply chain, ensuring the right amount of product at the right time. Integrating purchasing and inventory control is critical for forward planning and forecasting in today’s economic climate. Essential to this process is purchasing.

Sourcing Strategies 52

Sourcing Strategies Negotiating Skills Purchasing Skills Manufacturing Procurement 52

Unleashed

OCTOBER 6, 2021

So your company is looking to reduce costs, and you’ve been asked to contribute by reducing your inventory cost. That makes sense – inventory is one of the most capital intensive areas for any product business. Here we explain how you can do this with 16 cost reduction strategies in inventory management?that

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

Logistics Viewpoints

APRIL 11, 2024

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. Historically these roles are siloed, focused on their own functional metrics.

Pharmaceutical 231

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

Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Supply Chain Shaman

FEBRUARY 14, 2022

Companies tightly coupling the budget to S&OP have significantly higher inventories and lower growth than their peer group. Deployment of deeper statistical engines for inventory management with a focus on safety stock will improve inventory levels. Industries carried on average 32 days more inventory in 2020 than in 2007.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

Supply Chain Shaman

JANUARY 31, 2022

The Chief Financial Officer gained more presence with procurement and IT reporting to finance. As a result, focusing on cost and efficiency, and functional metrics throws the supply chain out of balance. In addition, Lucas used inventory as a slush fund to make quarterly earnings. Focus on Cost. A Decline in Innovation.

Procurement Analytics 217

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 217

Silvon Software

APRIL 1, 2024

The analytics help to improve a business process by analyzing a predetermined set of metrics relevant to the process and providing historical context of the data. Historically, operational reporting answered simple but vital questions about a business’s current status, like cash on hand or inventory levels.

Procurement Analytics 58

Procurement Analytics Analytics Software Predictive Analytics Analytics 58

Precoro

DECEMBER 11, 2023

As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased. Strategic sourcing involves the meticulous evaluation of suppliers and the overall procurement process to extract maximum value from both. Create a purchasing process.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

OptiProERP

APRIL 9, 2024

Integration with inventory management systems is crucial to accurately confirm product availability and delivery timelines. Collaboration between production, procurement, and logistics teams is essential to optimize resource utilization and minimize lead times. Order Management Once a quote is accepted, it transitions into an order.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Inventory Management Software 52

Supply Chain Shaman

FEBRUARY 7, 2022

The Chief Financial Officer gained more presence with procurement and IT reporting to finance. As a result, focusing on cost and efficiency, and functional metrics throws the supply chain out of balance. In addition, Lucas used inventory as a slush fund to make quarterly earnings. Focus on Cost. A Decline in Innovation.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

Logility

AUGUST 25, 2020

in inventory write-down and 20% drop in stock value. Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. Management must be cognizant of issues of procurement, manufacturing, inventory, and distribution that impact satisfaction and loyalty.

Supply Chain Planning Software 173

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 173

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.

Procurement Solutions 76

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 76

QAD

OCTOBER 24, 2023

Benefits of Collaborative Supplier Relationships Increasingly, organizations are realizing the benefits of tightening relationships with suppliers to better manage the sourcing and procurement of goods and lower supply costs. So, we can not truly say that the sourcing process begins with supplier management.

Supplier Management 94

Supplier Management Procurement Solutions Optimal Sourcing Supply Chain Network Software 94

Supply Chain Shaman

SEPTEMBER 3, 2018

According to my research, top-performing supply chains possess three very different qualities. Over the last six years, we studied the connection between business results (growth, operating margin, inventory turns and Return on Invested Capital (ROIC)) and the link to company characteristics. Reward teams for cross-functional metrics.

Supply Chain Planning Software 311

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 311

SCMDOJO

JUNE 6, 2023

Many professionals rely on MS Excel as the go-to software for supply chain and procurement tasks but creating detailed dashboards can be time-consuming and exhausting. Efficiently managing inventory is crucial for maintaining optimal cash flow and meeting customer service expectations.

Supply Chain Planning Software 89

Supply Chain Planning Software Supply Chain Software Optimization Software Material Savings 89

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. Data Quality and Quantity: To create effective generative AI, high-quality training data is necessary.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

Silvon Software

APRIL 11, 2024

It requires a nuanced understanding of what metrics truly matter, alongside an infrastructure that supports robust data analysis and insight generation. Initially, this involves a careful process of identifying which metrics are most indicative of the organization’s success.

Predictive Analytics 83

Predictive Analytics Analytics Software Analytics Sourcing Strategies 83

BlueYonder

FEBRUARY 19, 2024

Precision Planning – Demand Forecasting and Real-Time Inventory Efficiency often begins with meticulous planning. Aligning the grocery retail ecosystem around real-time inventory marks the initial stride. Building on real-time inventory capabilities, this phase delves into dynamic pricing and promotions.

Sourcing Strategies 52

Sourcing Strategies Optimal Sourcing Waste Reduction Inventory Reduction 52