Metrics that Matter: Inventory Effectiveness

QAD

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.

The Most Important Distribution Center Metrics to Track and Understand

Cerasis

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? Monitor Warehouse Capacity. Identify Peaks in Warehouse Capacity.

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Top 25 3PL warehousing companies in 2020 (by revenue)

6 River Systems

Third-party logistics companies ( 3PLs ) specialize in distribution, warehousing and fulfillment services. Today, there are many top 3PL warehousing companies that handle warehousing, fulfillment, logistics and distribution services for companies of all sizes.

Driving Supply Chain Analytics User Adoption with Cross-Departmental Metrics

Logility

The obvious danger of this is that business rules and data governance often don’t exist from department to department or user to user, leaving an overall picture into the health of the business that is foggy because KPIs and metrics do not correlate across the organization. A key solution to this problem is to implement a centralized data warehouse for a single version of the truth.

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

Cerasis

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.

3PL Warehousing 101

Kanban Logistics

The modern warehouse offers much more than basic storage. It’s home base for sophisticated eCommerce operations, high-velocity retail distribution, vendor managed inventory, and a variety of other services. While you can build and staff your own warehouse and perform these services yourself, more and more companies see the value in handing warehousing operations off to a third-party logistics (3PL) provider. Types of 3PL Warehousing. Inventory turns per year.

3PL 40

Tips for Maximizing Warehouse Space

Cerasis

The 2018 State of Logistics Report , sponsored by 3PL Central , indicates warehousing models are evolving at a phenomenal rate. More importantly, demand for warehouse space is at an all-time high, and warehousing is still short two million workers. percent of warehouses vacant, warehouse managers are still stuck with the challenge of maximizing warehouse space. Since customers’ needs evolve on a continuing basis, warehouses must evolve in tandem.

The Top 5 Warehousing Best Practices in Supply Chain Management

ThroughPut

Studies show that worldwide, companies spend an estimated $350 billion a year on warehousing, and this number is only estimated to increase with high dependence on traditional warehouse practices. Lean warehousing. Digital warehouse.

Lean 52

Warehousing KPIs

The Logistics of Logistics

To effectively and efficiently manage a warehouse, you need to use warehousing KPIs. Below is a listing of commonly used warehousing KPIs. A key performance indicator (KPI) is a metric that you have chosen that will give an indication of your performance and can be used as a driver for continuous improvement. Selecting Warehousing KPIs. Every warehouse is different with different goals and objectives, so choosing just the right warehousing KPIs is tough.

Warehouse Management Proficiency Through Mobility Technology

Cerasis

The role of warehousing in e-commerce is undisputed, and mobility technology is integral to enhance warehouse management proficiency in the modern world. According to Ivanti , mobility technology allows warehouse managers to develop better processes and systems for inventory management and maintain high accountability, visibility, and proficiency in operations. Warehouse managers should take a moment to define mobility technology. Supply Chain Warehouse

DIFOT: A Metric of Supplier Performance

Unleashed

Delivery In Full On Time, or DIFOT, is a metric used to analyse how accurate and efficient your supply chain is. When it comes time to reassess the approved supplier list, then you can use these metrics to disqualify problematic suppliers and improve your own performance and supply chain. If you are measuring your own DIFOT scores as a distributor, you can use the metrics to promote your own success and ability to fulfil demand.

6 Benefits of Effective a Reverse Logistics System & The 9 Core RevLog Metrics to Track

Cerasis

Importance of Metrics in Reverse Logistics Management. To monitor progress against its reverse logistics management plan, a company needs metrics that measure the financial impact of returns on the firm and on other members of the supply chain. Measures such as amount of product to be reclaimed and resold as is, or percentage of material recycled, are examples of such metrics. Energy used in handling returns : This metric is used in sustainability programs.

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

ThroughPut

What is Warehouse Management Software? 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. It helps manufacturers effectively control and administer warehouse operations right from the entry of goods or materials into the warehouse until they move out.

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

ThroughPut

What is Warehouse Management Software? 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. It helps manufacturers effectively control and administer warehouse operations right from the entry of goods or materials into the warehouse until they move out.

Supply Chain Metrics To Avoid Before It's Too Late!

Supply Chain Opz

Supply Chain Metrics are one of the most important best practices in supply chain management because " You can''t manage what you can''t measure ". However, under certain circumstances, metrics are not used or implemented properly. This article will explain to you 7 kind of supply chain metrics that you should pay special attention to. For example, when warehouse staffs pick the orders faster, cost per order can be reduced. It''s the inventory metric).

Ultimate guide to warehouse logistics: Enhance organization, movement, and management

6 River Systems

Warehouse logistics is the heart of any supply chain operation, assimilating and dispatching goods to ensure availability and timely delivery. One of the best ways to reduce shipping costs and ensure fast delivery is by optimizing warehouse logistics. What is warehouse logistics?

KPI 67

Real-World Scenario: Best Practices for Warehouse Contracts: Part One

Cerasis

When it comes to the logistics industry, whether it's transportation management contracts or warehouse contracts, there are a million moving parts, and as many questions. In the below is a real world example of a consultant coming to a third party logistics company with the goal of choosing a warehouse and 3pl provider. Currently they incur a annual spend of USD 380-420 Million for their warehousing needs, of which ~60% spend is for brand new six warehouses (average space of 1.5

KPI 212

50 warehouse automation stats you should know

6 River Systems

Warehouse automation stats show that automation is making a big impact on warehouses and distribution centers. As technology awareness grows, more warehouses and DCs turn to automation to adapt to the changing landscape. Below, we’ve rounded up 50 compelling statistics to shed some light on the driving forces behind warehouse automation and the impact automation has on the industry. The number of private warehouses is growing. Warehouse Automation

Replenishment 201: Monitoring Store-Level Inventory

SupplyPike

This month, we thought we’d dig in a little deeper and look into monitoring store-level inventory. Traited Not Valid: The item is on the modular but is not replenishing because the store manager might decide not to order the item for her store due to reasons like low sales, too many returns, too much inventory, etc. Instocks are an incredibly important metric to keep track of as well. Does the store have sufficient inventory to meet today’s forecasted demand?

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC. Warehouse Inventory Management Software is seeing increased adoption as manufacturers expand globally through mergers, acquisitions, and regionally-focused manufacturing strategies.

The Fundamentals of Warehouse KPIs

3PL Insights

It’s important to measure the performance of your warehouse operations to find ways to improve efficiency. We have put together a list of some of the most important metrics to track. Inventory Turn Rate. A high inventory turn rate lowers your warehouse storage costs over time.

Speed up your eCommerce Business with Inventory Management Software

Vinculum

Inventory management plays a vital role in building a sustainable, scalable and profitable eCommerce business. No matter how expert you are, how bigger or smaller your business may be, what products you sell, or who do you serve, lack in your inventory management can bring bigger challenges in your business success. Thus, inventory Management Software is really an essential tool for your business to gear itself up. What is Inventory Management System?

Business Intelligence vs. Inventory Optimization: Are You Solving Symptoms Instead of the Real Problem?

ToolsGroup

In my decades of working in replenishment and inventory optimization, I’ve noticed that many companies seek solutions to symptoms rather than the underlying problem. They want to have an aging report for inventory or a report on vendor performance. Let’s examine the first: inventory aging reports. It’s great to know what inventory is aging and what might need to be written off, marked down or transferred. Too often, inventory levels are a result of human emotion.

50 expert warehouse optimization tips and techniques

6 River Systems

Optimizing your warehouse means examining every corner of your infrastructure and every facet of your workflows and processes to identify and correct inefficiencies. Not only does warehouse optimization result in a healthier bottom line, but it also improves key warehouse metrics like accurate orders and on-time delivery. Of course, warehouse optimization isn’t something you do just once; it’s an ongoing process, and a complex one at that.

Common Sense Warehouse Performance Metrics for Supply Chain Benchmarking

Logistics Bureau

If you’ve heard about the opportunities and benefits that warehouse performance benchmarking can put within reach of your supply chain organisation, you might understandably be keen to get a benchmarking project under way. Whether comparing performance across your own warehouses and DCs, or benchmarking your warehouse network against external organisations, there are a number of performance elements that should be taken into account. Perfect Order Warehouse Performance.

Top 10 Features of an Autonomous Warehouse

3PL Insights

It’s said that an autonomous warehouse functions much like the way autonomous vehicles navigate the road. Robots move on their own throughout a warehouse, maneuvering around obstacles—they stop for human workers, pick up crates, and move them from one location to the next, moving through a packing system that may see very human hands. These robots fulfill the picking and packing at Amazon warehouses, continuing to refine Amazon’s process. Supply Chain Warehousing

Tips for Maximizing Warehouse Space

Veridian Solutions

The 2018 State of Logistics Report , sponsored by 3PL Central , indicates warehousing models are evolving at a phenomenal rate. More importantly, demand for warehouse space is at an all-time high, and warehousing is still short two million workers. percent of warehouses vacant, warehouse managers are still stuck with the challenge of maximizing warehouse space. Since customers’ needs evolve on a continuing basis, warehouses must evolve in tandem.

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.

Dynamic Warehousing Quarterly Report

FLEXE

This is the first report in a quarterly series that will highlight trends and insights in the dynamic warehousing market. It marks the first time dynamic warehousing has been analyzed in detail and serves to establish benchmarks for future reports and analyses. Dynamic warehousing is a relatively new business model that’s been gradually taking hold in the supply chain and logistics industries over the last 18 to 24 months. Long-term storage of materials or static inventory.

Dynamic Warehousing Quarterly Pricing Report

FLEXE

This is the first report in a quarterly series that will highlight trends and insights in the dynamic warehousing market. It marks the first time dynamic warehousing has been analyzed in detail and serves. Dynamic warehousing is a relatively new business model that’s been gradually taking hold in the supply chain and logistics industries over the last. Establish baseline metrics that will enable deeper historical trend analyses as the market matures over future quarters.

10 Inventory Metrics You Need to Know Right Now

EMERGE App

You can with inventory metrics. Why should you care about inventory metrics ? We think these are the top 10 inventory metrics that you need to know right now. Top Ten Inventory Management Metrics. Inventory Turnover. Inventory Turnover = Cost of Goods Sold / Average Inventory. This is the number of times inventory is sold within a period of time, typically a year. Start by reducing your inventory.

Dynamic Warehousing Quarterly Pricing Report

FLEXE

<p>This is the first report in a quarterly series that will highlight trends and insights in the dynamic warehousing market. It marks the first time dynamic warehousing has been analyzed in detail and serves to establish benchmarks for future reports and analyses. Dynamic warehousing is a relatively new business model that’s been gradually taking hold in the supply chain and logistics industries over the last</p> <p>18 to 24 months.

Collaboration? When It Comes to Cash-to-Cash, We Don’t Know How to Walk the Talk

Supply Chain Shaman

Inventory, in this time of uncertainty, is the organization’s most important buffer to protect against variability. However, organizations are not good at managing inventory. Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle. In times of growth, when companies are funding inventory builds, cash is needed. Inventory. Days of Inventory by Industry.

Top Warehouse KPIs to Succeed in 2020

Veridian Solutions

Key performance indicators (KPIs) provide an invaluable way to judge the efficacy of operations, determine opportunities for improvement, improve customer experiences , and better manage supply chain functions, including warehouse management. Supply chain leaders that wish to remain proactive to risks of disruption and improve operations through 2020 and beyond need to understand the top warehouse KPIs and how they can mean the difference between success and failure.

Real-World Scenario: Best Practices for Warehousing Contracts: Part Two

Cerasis

Today's blog is a continuation of yesterday's where we discussed cost management and KPIs with warehousing contracts using a real-world scenario. Now we dive a bit deeper with incentives, gain sharing, should-cost models, and governance in warehousing contracts. Currently they incur a annual spend of USD 380-420 Million for their warehousing needs, of which ~60% spend is for brand new six warehouses (average space of 1.5 More warehouses are using Lean initiatives.