Remove Inventory Remove Metrics Remove Sourcing Remove Transportation

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?

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.

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The 10 Procurement Metrics that Matter in 2021

Unleashed

In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. What is procurement?

Supplier Quality Management: What it is, 5 Key Metrics to Know & a 4 Step Supplier Evaluation Process

GlobalTranz

When you choose a company to transport your freight or to supply you with the materials you need to manufacture a product, you are putting your hard work and reputation in their hands. 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 10 inventory management trends to watch for in 2022

Unleashed

Best practice inventory management – and the wider world of supply chain management – has played a big part in business survival through 2021. With that in mind, here’s our pick of the 10 most important inventory management trends for 2022. 10 inventory management for 2022: 1.

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.

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. 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.

Guest Post: Ignoring this Performance Metric is Risky

TMC

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. Managing adverse weather conditions is part and parcel of transportation planning. There is growing interest in incorporating weather forecast data from a variety of sources into supply chain planning.

Understanding Supply Chain Management

SupplyPike

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. Inventory Map. Learn about.

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Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

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.

Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

The key difference between the two can perhaps be explained in the following example: A 3PL provider working with a paint manufacturer may package and store products as well as transport them to retailers and/or customers. Transport.

Podcast: Rob O’Byrne on Digital Transformation, Sustainability, and Diversification in Sourcing

Requis

Sourcing has probably been the biggest thing over the last decade or two, coupled with that reduction in local manufacturing of course. Sourcing is now predominantly overseas: China is one of the big sourcing countries of course, along with India, Pakistan and Bangladesh, Vietnam and Thailand.

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. .

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. Much to my chagrin, when I entered into the world of supply chain, the processes of source, make and deliver were usually not designed. It should not be functional, with a narrow focus on a singular function like manufacturing or transportation. Stage 2: All about Transportation.

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. Managing the complexity of global transportation requires human capital, time, and/or money.

5 Ways to Optimize Your Logistics & Transportation with Lean

Arkieva

Are you using lean in your logistics and transportation management? The transportation company’s culture and behavior should change to apply Lean thinking. Transportation takes time. The need to transport parts also drives inventory up, creates a need for space to store those parts, and uses energy for more forklift time and warehouse heating. The list of additional waste generated by transportation goes on and on. Right Source.

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5 Ways Real-Time Freight Analytics Create Competitive Advantages

Turvo

The demand and need for visibility along transportation lines continue to grow. By utilizing real-time freight analytics , transportation managers can better embrace automation processes. This means that transportation companies become more reliable, efficient, and predictable.

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. Data originates from one of two primary sources: individual sensors gathering data or manual entry of data. Metrics.

Manufacturing Gains From Machine Learning

IQMS

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.,

How to Achieve the Perfect Delivery

Logistics Viewpoints

What is the Perfect Delivery Metric? Improving on this metric will always involve a focus on people and processes, but often also includes implementing new, more robust, supply chain applications. The wrong metrics drive suboptimal behaviors and metrics can often be manipulated.

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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.

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. Managing the complexity of global transportation requires human capital, time, and/or money.

Made in “I Really Don’t Know”

Talking Logistics

As reported in USA Today : [In a sourcing practice nicknamed “China plus one”], big brands like Rip Curl send their specifications — what they want made and how much they’re willing to pay for it — to sourcing agents, who find factories that agree to fulfill them. no metrics, operate in functional silos). Therefore, the first step is to define those processes, along with who will execute and manage them and what the right metrics should be.

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. 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.

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Supply Chain Scope: New Study Shows Rise in US Inventories; California Estimated to Improve Freight Efficiency by 25% in 2030

Arkieva

A new study by the SupplyChainDigest analyzing the main components of working capital: Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), and Days Payables Outstanding (DPO) revealed an uptick in DIO. The Sustainable Freight Action plan released by California governor Jerry Brown outlines a long-term 2050 vision and guiding principles for California’s future freight transportation system. New Study Shows a Rise in US Company Inventories. Source: Commerce Dept.

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.

How Machine Learning Is Redefining Supply Chain Management

IQMS

Key factors influencing inventory levels, supplier quality, demand forecasting, procure-to-pay, order-to-cash, production planning, transportation management and more are becoming known for the first time. Source: Machine Learning – A Giant Leap for Supply Chain Forecasting, Material Handling and Logistics Conference (PDF, 28 pp., Source: DHL, Artificial Intelligence in Logistics, 2018 (PDF, 45 pp.,

Supply Chain Manager – A “Green” Superhero

Logility

For example: Optimizing a distribution network not only reduces logistics costs but, in most cases, reduces carbon emissions through fewer transportation miles and/or less inventory holding costs. Source: Nielsen Product Insider, 10/20/2018.

Balancing Cash, Cost and Service: The Supply Chain Triangle

Arkieva

Over the last 5 years I have seen many companies launching inventory reduction programs. When launching an inventory reduction program, companies should be aware that inventory, as a part of Cash, should always be balanced with Cost and Service. They can increase the inventory and as such require more cash. We can also reducing lead times by providing excess capacity or by using faster transportation modes. Inventory is an important element of working capital.

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Integrated Planning: Is It Rubbish? Be Careful What You Ask For….

Supply Chain Shaman

I find most companies are good at pockets of planning–demand planning, supply planning, transportation planning, material planning or plant scheduling, but the flows are not connected. Each are good at localized planning within a focused area of demand, supply, network design, transportation planning, material sourcing or finite scheduling. The greatest value happens when companies can link across source, make and deliver.

Halal Cluster Network: Connecting regional halal clusters

The Logistics & Supply Chain Management Society

The new concepts require: • Digital supply chain execution capabilities in transportation, warehouse, labor and fulfillment. • Digital control towers fueled by artificial intelligence (AI), data science and analytics. Strategic product segmentation, sourcing and inventory management.

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Profitable Agility and Resilience in Supply Chain Execution

The Logistics & Supply Chain Management Society

The new concepts require: • Digital supply chain execution capabilities in transportation, warehouse, labor and fulfillment. • Digital control towers fueled by artificial intelligence (AI), data science and analytics. Strategic product segmentation, sourcing and inventory management.

Building a Business Case for Improved Demand Forecasting

ToolsGroup

Gartner says that you shouldn’t just pitch forecast accuracy to your executive management, but translate your plan into business metrics. You must be able to make a direct link between the forecasting accuracy improvement and customer service, cost, efficiency, inventory, cash flow or capability improvements,” says Gartner. 2% reduction in transportation costs (percent of sales). 9% reduction in inventory obsolescence (percent of inventory value).

How Do You Define a Mature Supply Chain Planning Organization? (Part 1)

Supply Chain Shaman

Integration of corporate social responsibility metrics in planning. Comprehensive view of source, make and deliver. Most often the focus is on transportation or logistics, but does not take into consideration the trade-offs between make, source and deliver. Focus is on make, source and deliver together. Use of third-party data for transportation lane and drayage times by day/time of week. Inventory. Focus on the level of inventory. Metrics.

2020 Requires Big Wings and Feet

Supply Chain Shaman

Granular data by volume is a must to be able to manage replenishment, network design, and inventory targets. Companies that directly connect financial data to supply chain data without creating a feasible plan at an item/location level rate themselves significantly lower on S&OP effectiveness creating higher costs, levels of inventory and order short shipments. A simplistic view is that supply chain excellence is the trade-off of cost, inventory and customer service.