QAD

JUNE 25, 2019

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Inventory effectiveness measures the process that delivers the right part to the right place at the right time, while minimizing investment and meeting customer requirements. Using Metrics to Measure the Health of the Business.

Metrics 85

Metrics Inventory Benchmarking Lean 85

Cerasis

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. 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.

Metrics 191

Metrics Supply Chain Performance Supply Chain KPI 191

Talking Logistics

APRIL 29, 2015

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. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? In addition, Jim says many retailers are facing inventory management challenges in the realm of “ship from store” and “pickup at store” fulfillment models.

Sourcing 187

Sourcing Transportation Strategy Shipping 187

QAD

MARCH 28, 2019

Inventory accuracy and minimizing stockouts are very important to customer satisfaction, but a few other metrics also impact the ability to meet customer expectations. Companies can use these metrics to help ensure they are doing everything possible to satisfy their customers at a manageable and sustainable cost. It’s easy to meet delivery expectations if you carry excess inventory, but it’s an expensive and impractical solution. Choosing Metrics.

Customer Service 68

Customer Service Metrics Guidelines Quality 68

Kinaxis

MARCH 22, 2017

by Alexa Cheater From designing, sourcing and manufacturing, to distribution and consumption, your supply chain is at the heart of your customer satisfaction levels. But the sheer complexity of supply chain networks, and the impact design decisions have on operational performance, makes supply chain inventory management aligning inventory investments with on-time customer delivery and margins a major challenge. Implementing inventory optimization.

Inventory 164

Inventory Analytics Supply Chain Inventory Management 164

Cerasis

MAY 20, 2015

The next posts in the series will break down metrics and issues to consider in SQM by industry and conclude with a case study on the application of SQM. 5 Key Metrics to Use for Scoring Supplier Quality Management (From LNS Research ). The definition of this metric is similar to the way it sounds. Quality affects many different parts of the business, so it is critical to establish a comprehensive metric that provides visibility into the most important areas of operations.

Quality 258

Quality Metrics Romania Lean 258

Supply Chain Shaman

SEPTEMBER 20, 2015

Source: Dictionary.com. Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies. As I sat with the team, and discussed the future of supply chain, they impressed me with their by their use of planning tools and their process diligence on building inventory strategies to enable a customer-segmented supply chain.

Strategy 251

Strategy Inventory Policies Conference 251

Supply Chain Shaman

MARCH 28, 2016

The supply chain is a complex system with finite, and non-linear relationships between supply chain metrics that drive balance sheet results. In our analysis, only one out of ten companies successfully improves operating margins and inventory turns at the same time. We find that companies can improve one, but not two of the metrics. Teams struggle to drive improvement in both metrics at the same time. Inventory Turns.

Metrics 205

Metrics Apparel Pharmaceutical Analysis 205

Supply Chain Shaman

SEPTEMBER 3, 2018

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. We consistently see that companies focused on functional excellence–a focus within a functional silo like manufacturing, transportation or distribution– or singular metrics– like inventory or costs– underperform against their peer groups.

Supply Chain 298

Supply Chain Metrics Supply Chain Planning Analysis 298

ToolsGroup

MAY 3, 2016

If you (or your boss) are measured by your company's Return on Invested Capital (ROIC) or a similar metric, then you want to turn assets into cash. Inventory optimization is one proven way to do it. Inventory is an untapped, cash-rich asset. Most companies have some form of supply chain systems to manage inventory from production through delivery. Of course, you need inventory. Inventory is what you make, what you sell. Inventory Optimization

Inventory 152

Inventory Case Study Metrics Analytics 152

Unleashed

APRIL 15, 2020

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. To help you understand the importance of tracking this metric we’ll illustrate several ways the value of your stock can change. What is inventory revaluation?

Inventory 55

Inventory Singapore Japan Food 55

Supply Chain View from the Field

APRIL 1, 2015

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources. Inventory Goal.

Metrics 91

Metrics Strategy Supply Chain Benchmarking 91

Supply Chain Shaman

MARCH 18, 2018

Financial reengineering focuses on the optimization of short-term results that are usually based on a functional analysis of source, make, or deliver. Few consultants understand the interrelationships between source, make and deliver. Snow fell last night as I worked on my last Supply Chain Metrics That Matter report. Ironically, most companies are very entrapped in measuring and rewarding functional metrics which degrades overall improvement.

Supply Chain 167

Supply Chain Tennessee Metrics North America 167

Supply Chain Shaman

JULY 22, 2019

The source data for the analysis comes from Ycharts.). It is not as simple as trading-off inventory, cost, and customer service. In the Supply Chains to Admire analysis, the focus is to understand the relative performance of a company within a peer group of growth, operating margin, inventory turns, and Return on Invested Capital (ROIC). (We We selected these metrics based on correlation work with Arizona State University in 2012. I watch the news channels on mute.

Supply Chain 235

Supply Chain Metrics Comparison Beverage 235

TMC

NOVEMBER 18, 2015

For instance, when a disaster such as a hurricane, a labor strike, or a bankruptcy disables key suppliers, quick-moving enterprises are able to lock in alternative sources of supply before their rivals. There is growing interest in incorporating weather forecast data from a variety of sources into supply chain planning. Companies can then prioritize their mitigation efforts based on parameters such as value-at-risk, customer importance, and field inventory.

Metrics 60

Metrics Colorado United States Policies 60

Unleashed

APRIL 3, 2020

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. To help you understand the importance of tracking this metric we’ll illustrate several ways the value of your stock can change. What is inventory revaluation?

Inventory 40

Inventory Singapore Japan Food 40

SupplyPike

MAY 14, 2020

These activities can involve storage and transport of inventory or supplies, monitoring of day-to-day activities, the preparation behind these processes, and blending these different components throughout the supply chain. Five Key Metrics for Monitoring the Impact of Panic Buying on your Supply Chain. Replenishable Instock Percentage: Replenishable instock shows the percentage of stores that currently have inventory vs. stores that should have inventory. Learn about.

SCM 48

SCM Supply Chain Forecasting Omnichannel 48

Enterra Insights

JUNE 25, 2019

For the last few years, inventory shrinkage has annually cost U.S. ” Regardless of how inventory is lost, shrinkage costs retailers a lot of money. To reduce shrinkage, retailers need to have a strategy to address each of the ways inventory can be lost. Inventory shrinkage strategies. Addressing inventory shrinkage begins with inventory management. Trujillo explains, “Take the plunge and invest in an inventory management system.

Inventory 100

Inventory Retail Inventory Management Training 100

Supply Chain Game Changer

DECEMBER 3, 2019

Featuring Our 10 Best Inventory Management Articles! As I settled into the job and started learning, and studying, the various Supply Chain metrics I was surprised when I looked at the Inventory Turnover performance of the company. Looking at recent and historical Inventory performance I could see that turnover always stayed around 5-6 turns with little variation. There was no mentorship given to promote the team and raise visibility to inventory.

Inventory 43

Inventory Metrics Benchmarking Government 43

Supply Chain Cowboy

MARCH 1, 2015

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. Of course, you’ll want to be courteous and professional with your feedback, but being open and honest with this metric can go a long way to solving problems between you.

Metrics 47

Metrics Quality Capacity Course 47

Logistics Bureau

SEPTEMBER 28, 2020

Even slight delays or inventory shortages can have a severe impact on a company’s bottom line. At the height of the pandemic-linked supply chain disruptions, Amazon set the bar extremely high for other 4PL providers, despite initially experiencing inventory shortages.

Third Party Logistics 76

Third Party Logistics Phoenix Company Australia 76

Supply Chain Shaman

MAY 13, 2015

I knew nothing about the world of logistics, inventory management and order optimization. Much to my chagrin, when I entered into the world of supply chain, the processes of source, make and deliver were usually not designed. Instead, I think that it needs to be holistic to balance the trade-offs of source, make and deliver together. Companies need multi-tier Available to Promise (ATP) and real-time inventory management.

Supply Chain 260

Supply Chain Metrics San Francisco Chemicals 260

Supply Chain Shaman

APRIL 25, 2013

The relationship between corporate financial performance and supply chain metrics was complex; and in my first attempts, I was unable to derive a correlation. The year 2012 marked the 30th anniversary of the use of supply chain management as a cross-functional process for source, make and deliver in the commercial sector. I wanted to better understand which metrics truly mattered. The Metrics That Matter Are Different by Industry Sector.

Supply Chain 241

Supply Chain Metrics Arizona Supply Chain Performance 241

Supply Chain Opz

MARCH 26, 2015

What is Inventory Control? Here we will try to answer most common questions about Inventory Control and also provide additional resources you can use. What is Inventory Control? Inventory Control can be defined as below: “Inventory control is the function responsible for all decisions about all goods and materials in an organization. Inventory control often starts with how to know the demand of particular product. What is Inventory Cost?

Inventory 109

Inventory Forecasting Policies Guidelines 109

ShipBob

AUGUST 5, 2020

Source your products. Before you build an online store, you need to source your products. There are several avenues you can take to source products from working with local stores or suppliers to wholesale distributor options.

Sourcing 73

Sourcing Policies 3PL Shipping 73

Supply Chain Opz

AUGUST 2, 2018

From the most basic to the most advanced organization, Inventory Optimization is a critical goal and one which underpins the effectiveness of the supply chain operation. Inventory Optimization requires an organization to sustain and maintain the right mix of cost versus service. In this article we will examine inventory optimization processes as part of a structured sequential journey and examine seven of the key factors in delivering the optimal mix of stock.

Inventory 100

Inventory Exercises KPI Analysis 100

Supply Chain Shaman

JULY 6, 2020

Tom, the colorful warehouse manager, constantly heckled Frank for the increasing inventory levels while Ed, the quiet material/logistics manager, constantly questioned if there was a better way. He felt that inventory was no problem, he would just cut it at the end of each quarter to make the balance sheet goals. Despite goals to improve agility and resiliency, functional metrics for manufacturing efficiency continually throw the supply chain out of balance.

Delaware 201

Delaware Supply Chain Metrics Research 201

QAD

JUNE 18, 2020

Next, we will provide an overview of the Inventory Data Health Action Center as well as the associated key performance indicators (KPIs). Most manufacturing companies are dependent on their ERP systems to ensure inventory balance and availability, as well as for providing product cost rollups to ensure they meet adequate margins when setting prices. For example, many companies have a rule of thumb that defines how much inventory to order based on the items’ ‘A-B-C’ class.

Data 69

Data Inventory KPI Metrics 69

QAD

JUNE 18, 2020

Next, we will provide an overview of the Inventory Data Health Action Center as well as the associated key performance indicators (KPIs). Most manufacturing companies are dependent on their ERP systems to ensure inventory balance and availability, as well as for providing product cost rollups to ensure they meet adequate margins when setting prices. For example, many companies have a rule of thumb that defines how much inventory to order based on the items’ ‘A-B-C’ class.

Data 69

Data Inventory KPI Metrics 69

Unleashed

DECEMBER 1, 2019

As strategic organisations, we want to make sure we’re creating the right inventory reports and making the right decisions based on the data we are using. With that, we know that Key Performance Indicators (KPIs) and metrics are important. The problem is that many organisations use the terms KPI and metrics interchangeably. Taking the time to separate your KPIs from your metrics will help give you a boost over on those who don’t know the difference. Metrics.

KPI 48

KPI Metrics Examples Strategy 48

EazyStock

OCTOBER 10, 2018

Variety – The different forms of data sources. The analyzed data is gathered from a variety of sources, including both software and hardware, and is collected from devices all over the world, ranging from jet engines and heavy equipment to solar powered trashcans and electric toothbrushes. Big data exists in real-time and involves prompt access to data, alerts and inventory management and control metrics through cloud computing systems.

Big Data 43

Big Data Inventory Management Comparison Inventory 43

IQMS

JULY 11, 2019

Source: Smartening up with Artificial Intelligence (AI) – What’s in it for Germany and its Industrial Sector? (52 Asset Management, Supply Chain Management, and Inventory Management are the hottest areas of artificial intelligence, machine learning and IoT adoption in manufacturing today. Source: Technology and Innovation for the Future of Production: Accelerating Value Creation (38 pp., Source: Digital Factories 2020: Shaping the future of manufacturing (48 pp.,

Manufacturing 44

Manufacturing Germany Analytics Sourcing 44

Supply Chain Shaman

MARCH 5, 2019

While there are many types of visibility (see Figure 1), the most common use case is either sourcing or transportation visibility. The focus is on functional metrics, but are unable to get to overall supply chain metrics. For example, only 29% of manufacturing companies can access total cost data and 31% struggle to see the impact of business decisions on inventory. We finished dinner. I pressed my neatly folded napkin to my lips.

Data 266

Data Chemicals Metrics Case Study 266

Supply Chain Shaman

JULY 19, 2015

In most ‘benchmarking activities’, self-reported data is the most common source. However, for elements like forecast error, customer service and slow-moving inventory self-reported data is not sufficient. We assumed that we did not know what the connection was between the views of supply chain planners, supply chain leaders, financial data, and planning system output (forecast error, bias, inventory targets, and slow-moving inventory).

Benchmarking 308

Benchmarking Supply Chain Planning Supply Chain Comparison 308

Unleashed

MAY 7, 2019

Inventory management is vital for many businesses; it can make or break your bottom line. So why are 43% of small businesses still using manual methods or worse not tracking inventory at all? If you are not managing your inventory stock effectively without data and analytic capabilities, then you are also losing out on significant insights to make smart merchandising decisions. You need to consider other metrics that signal good inventory health, such as inventory turnover.

Inventory Management 63

Inventory Management Inventory Analytics Forecasting 63