Remove Inventory Remove Metrics Remove Shipping Remove Transportation

The Most Important Distribution Center Metrics to Track and Understand

GlobalTranz

Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. Additionally, the use of metrics fosters positive relationships with coworkers and adherence to rulesets and best practices for the respective third-party logistics provider (3PL). What Distribution Center Metrics Need Tracking? On-Time Shipping.

Omnichannel Supply Chain Metrics: What Should Supply Chain Leaders Measure?

GlobalTranz

The answer lies using these omnichannel supply chain metrics to carefully track and improve operations continuously. Inventory Accuracy. This is a simple key performance indicator (KPI), another name for metrics, to track. It refers to the in-stock or out-of-stock accuracy of supplier inventory. This KPI should be as high as possible, reflecting accurate inventory available for customers from suppliers. Other Critical OmniChannel Supply Chain Metrics to Track.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

3 Core Metrics & 10 Soft Metrics for Measuring Supply Chain Performance

GlobalTranz

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. The goal is to keep inventory levels at a minimum to meet customer needs. Review Inventory turns and Return on Assets. For clarity, in measuring supply chain performance, we should be focusing on: inventory, working capital, and time.

Supply Chain Metrics - Gaining Visibility in a Data-rich World

Logility

The second part of Drucker’s quote, “if you can't measure it, you can't improve it,” really brings home the importance of having the right set of metrics. In the field of supply chain management, we have created an abundance of metrics and key performance indicators (KPIs). For the past 30 years I have been involved with multiple efforts to build a set of supply chain metrics and have learned a few things along the way.

The 10 Procurement Metrics that Matter in 2021

Unleashed

This is often managed with the help of supplier management software or inventory management software. For example, industries like transportation and logistics, technology or consumer goods will focus more on supplier collaboration. What is procurement?

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. Think about all the cars we have in the United States that have been shipped from different countries all over the world. Transportation, like inventory, is necessary activity within logistics.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

Among the many supply chain initiatives taking place today, vendor-managed inventory (VMI) has become an increasingly effective process and business model to help organizations share risk and information between vendors and customers — while benefitting from lower stockouts, reduced uncertainty and lower costs. What is vendor-managed inventory? The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor. Better transportation planning.

How to calculate safety stock – with formulas and examples

Unleashed

Ideally, once a safety stock figure is set for each product, an inventory management system such as Unleashed is used to manage stock within ideal levels. Safety stock is a buffer of inventory held to protect against stock-outs.

Why Reverse Logistics Systems and Transportation Management Should Be Considered Together

GlobalTranz

Product travel in reverse of their original paths from the seller to buyers’ locations, after which they may undergo disassembly and disposal or recycling, or repair or refurbishment, testing, packaging, warehousing, resale, shipping, customer support, and other reverse logistical processes executed by the seller outsourced services. meaningful and accurate performance metrics. Logistics Reverse Logistics Transportation Management reverse logistics systems

What Are White Glove Services in Transportation Management?

GlobalTranz

That’s the overview of white glove services evolution and it’s another piece of the transportation terminology puzzle. It’s important to know how white glove services and transportation management go together. Use metrics to track performance.

Which Metrics Matter? Interview with Philippe Lambotte

Supply Chain Shaman

My journey to understand supply chain Metrics That Matter started three years ago. When I sat down to write the book, Bricks Matter, I believed that companies had used supply chain technologies to reduce operating margin and improve inventory turns. We are currently mapping the progress of all public manufacturing, distribution and retail companies on three factors: Strength: Year-over-year improvement on operating margin and inventory turns for the past six years.

What’s the ROI Of Transport and Logistics Providers & A TMS?

GlobalTranz

Much talk about sales, automation and improved processes dominate the conversation when considering outsourcing logistics processes to a transport and logistics providers or using a 3PL-based transportation management system (TMS). Often, the transport and logistics providers' reps claim initial returns may be as high as 25 percent, if not greater. There are many benefits that accompany the use of transport and logistics providers and their TMS systems.

21 Vendor Metrics Your Supplier Scorecard Might be Missing

Supply Chain Cowboy

But is your scorecard missing key metrics? It includes a free Excel template that you can modify to match exactly what metrics you want to measure. While some of these metrics might not apply to your business model, there’s definitely a few to add if they measure something important to you and your customers. Be sure not to penalize or reward suppliers based on your choice of shipping method. Specific Quality Metrics. Transportation Time and Cost.

3 Ways to Accelerate Your Inventory Management

RFgen

TABLE OF CONTENTS: The Current State of Inventory Management. Integrate and Optimize Inventory Workflows. Implement Inventory Management Software. Integrate ERP Data with Inventory Processes. The Current State of Inventory Management. Increased inventory visibility.

23 Reasons the Ideal TMS is best for LTL Freight Shipping

GlobalTranz

Using less-than-truckload for medium-sized shipments is one of the great innovations in shipping. It produces results at a fraction of the cost of full truckload (FT) or small package shipping. However, the needs of the modern shipping industry have reached an optimal point, and the only way to further push the envelope is by using a dedicated transportation management system (TMS). As a result, the amount of inventory can be managed to reflect the consumer demand.

Warehouse Management Software – A Blueprint for Warehouse Excellence & Inventory Management

ThroughPut

A Warehouse Management Software (WMS) is one that helps plan, control, and manage the day-to-day manufacturing operations in a warehouse along with the guidance of inventory movement, optimizing order picking, and shipping of customer orders. Easy-to-follow metrics.

A Handy List of Keys to Careful, Comprehensive Inventory Management

Supply Chain Action Blog

I’m sure there are a lot of ways to summarize a careful, comprehensive approach to inventory management. A ccess information and use it instead of inventory. The more you are able to accurately anticipate the demand from your end customer in the marketplace, the more you will be able to move, make, buy, and store the inventory that will sell quickly. This is perhaps the simplest, but yet most difficult aspect of careful, comprehensive inventory management. .

Managing a Third Party Logistics Partnership

The Logistics of Logistics

If you do not want to start at the 3PL as a contact customer with a SLA/KPIs, you can ship your goods and become a public account. When you have chosen a 3PL partner, insure that you have an effective Service Level Agreement (SLA) with accompanying Key Performance Indicators (KPIs) to manage the Service Level of the 3PL. This SLA/KPI has to be negotiated and agreed upon by you and your 3PL partner.This negotiation time can take three (3) to Six (6) months.

Cloud-Based TMS: 7 Reasons Why Transportation Management Systems Have Their Heads in the Cloud

GlobalTranz

Transportation management systems ( TMSs ) are not a new concept, but where they are hosted now, in the cloud, is still new to the shipping industry. This means managing shipments and inventory can be simplified and taken with you, giving you renewed freedom in operating your business. There is a stereotype in shipping; bigger business means low-cost shipping rates and better deals with carriers.

Keeping Inventory Cool: Challenges of Temperature Control

RFgen

Proper temperature prevents certain inventory from becoming unusable and keeps consumables safe for customers. companies look for new ways to ship their goods around the world and maintain visibility without succumbing to the obstacles of geography.

13 Reasons Why You Need a Global Transportation Management System (TMS)

3rdwave

In today’s turbulent trading environment, strong global transportation management capabilities deliver exceptional benefits and value. From optimizing freight movements and controlling freight costs, to supply chain SKU transparency and optimal inventory management, the value proposition for global transportation management is substantial and significant. It supports the ability to consolidate multi-vendor/PO shipments to optimize total shipping costs.

Warehouse Management Software – A Blueprint for Warehouse Excellence & Inventory Management

ThroughPut

A Warehouse Management Software (WMS) is one that helps plan, control, and manage the day-to-day manufacturing operations in a warehouse along with the guidance of inventory movement, optimizing order picking, and shipping of customer orders. The WMS guides the overall order and inventory replenishment on the factory floor. The Software is usually used alongside or integrated with a Transportation Management System or an Inventory Management System.

Wanted: Supply Chain Architects!

Supply Chain Shaman

I knew nothing about the world of logistics, inventory management and order optimization. Warehouse Management and Transportation Management were in their infancy. It should not be functional, with a narrow focus on a singular function like manufacturing or transportation. From the research, we know that when organizations have source, make and deliver reporting to the same leader, that supply chain performance improves (intersection of operating margin and inventory turns).

5 Ways Real-Time Freight Analytics Create Competitive Advantages

Turvo

One of the most significant challenges the shipping industry faces is related to real-time freight analytics. The demand and need for visibility along transportation lines continue to grow. It also is making shipping managers change the way they operate.

Logistics Key Process Indicators (KPIs)

The Logistics of Logistics

A KPI is an indicator (a metric) that you have chosen, and agreed with your partners and or customers, that will determine whether you are meeting your critical success factors. Key Process Indicators vs. Metrics. I sometimes use the terms KPI and metrics interchangeably, but they are not the same. A metric is any standard of measurement (number of carriers, inventory turns, average shipment weight, etc.).

KPI 186

Why A Successful Transportation Management Program Is Empowered By Data

GlobalTranz

Today we continue our long series and look at teaching shippers how to remain strategic when it comes to logistics and their transportation management program. Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency. The Use of Data to Create a Successful Transportation Management Program. In today’s data-driven transportation systems, data entry should primarily be an automated process. Metrics.

Safety Stock Calculation For Your Wholesale & Distribution Business

EMERGE App

It commonly describes the additional stock that you keep in your inventory to reduce the risk of stockouts. In addition to smoothing out unexpected swings in demand and supply, buffer stock also influences the optimal inventory level, stocking of time-sensitive goods and plays a part in new product launches. You are wholly dependent on your suppliers, both local and overseas, to produce and ship the goods that you carry. Optimal Inventory Level. Introduction.

Top 5 features to look for in a Transportation Management System (TMS)

Abivin

Selecting the correct software system for the business helps to attain process efficiency, gain visibility into the supply chain, and decrease general transport costs. One of such software is transportation management system (TMS) which is a subset of supply chain management regarding transportation operations (Mei & Eliot, 2017). TMS has become an indispensable tool in a growingly competitive and complex transportation landscape.

Optimize Your Freight Spend Without Negotiation

Talking Logistics

Companies across all industries are dealing with rising transportation costs and a key question many CEOs, CFOs, and supply chain executives are asking is, “What can we do to better manage and control our freight spend in today’s market?” It is rare today to read the Wall Street Journal or listen to an earnings call without hearing about the impact of rising transportation costs. The second question we get is what strategies can we implement to lower our transportation costs.

13 Reasons Why You Need a Global Transportation Management System (TMS)

3rdwave

In today’s turbulent trading environment, strong global transportation management capabilities deliver exceptional benefits and value. From optimizing freight movements and controlling freight costs, to supply chain SKU transparency and optimal inventory management, the value proposition for global transportation management is substantial and significant. It supports the ability to consolidate multi-vendor/PO shipments to optimize total shipping costs.

Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

By contrast, the third-party logistics model is where a manufacturer retains oversight of its supply chain but outsources such processes as warehousing, shipping, packing, and distribution to a 3PL provider. Transport.

6 Benefits of Applying Useable Data in Logistics For Continuous Improvement

GlobalTranz

We continue our series on strategic shipping by going into detail of the 10 main areas that shippers can turn to in order to have a strategic logistics and transportation management mindset. Today we will go into detail on using the available data created in the processing of shipments within transportation management and other related logistics management for continuous improvement. . Shipping processes revolve around a million-trucks-worth of data. Metrics and KPIs.

3 Technology Companies Disrupting Shipping

FLEXE

Basically, responsible for ocean freight carriers, ocean ships that rely on truck companies. Shipping a 40-ton container back in July or June used to cost about $700 — a 40-ton container. More than half of Hanjin’s ships were chartered. So the chartering companies are already receiving the ships back and they need to rent them. MSC is interested to charter those ships. Those are indications that they don’t run a tight ship.

Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

While there are many types of visibility (see Figure 1), the most common use case is either sourcing or transportation visibility. I was at a customer last week that shipped to distributors and did not know the site of customer facilities. The focus is on functional metrics, but are unable to get to overall supply chain metrics. Global Supply Chains Inventory Management Market-Driven analytics control tower performance measurement Supply chain excellence visibility

Data 276

Reducing Costs in Shipping with a Focus on Inbound Logistics Strategy

GlobalTranz

Reducing Costs in Shipping with a Focus on Inbound Logistics Strategy. While some vendors might disagree with plans to implement and inbound shipping strategy to reduce your costs, remember that you must look out for your company first. Metrics and Auditing Prevent Overbilling and Overpayment to Vendors for Shipping Costs. Furthermore, your company must pay the costs of shipping , which may more than the carrier’s charges or double-billed.