What is Inventory Management?

EMERGE App

What is Inventory Management? Inventory management, in a nutshell, describes your efforts to manage, assess and report on the flow of your stock of goods. You might be using pencil-and-paper, spreadsheets or sophisticated inventory management software to do this.

From “Rules of Thumb” to Non-Linear Algorithmic Optimization

Logility

Back in the mid 1990’s when I first entered the Supply Chain field as a freshly minted MBA from the Eli Broad Graduate School of Management at Michigan State University, I was full of “state of the art” knowledge from visionary teachers like Don Bowersox, David Closs, Steven Melnyk and others.

Lineage Logistics: A Data-Driven Approach to Cold Chain

Logistics Viewpoints

However, Lineage, a mid-cap company based in Detroit, Michigan, is one of the world’s largest and most innovative temperature-controlled supply chain providers. Food & Beverage Industry Inventory Management Life Stories cold chain logistics supply chainTowards the end of last year, Steve Banker and I met with Greg Lehmkuhl, President & CEO, Sudarsan Thattai, CIO, and Chris Timmer, SVP Sales and Value-Added Services from Lineage Logistics.

What is Supply Chain Compliance and Why is it Important?

AB&R

Michigan. Asset Management Blog Inventory Management Managed Services Manufacturing RFID Transportation & Logistics asset management barcode verification compliance labeling GS1 harsh environment labeling UDI

3PL Best Practices

3PL Insights

by Brandon Hood – Customer Service Rep, Evans Distribution Systems Some 3PL best practices include successfully using business metrics and inventory management systems.

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A Brief History of the Founding of the Supply Chain Resource Cooperative (SCRC)

NC State SCRC

It covers a bit about what motivates our team and how this organization evolved to what it is today… In 1999, I came to NC State, leaving the cold north of Michigan State behind me.

Halloween Candy – A Scary Supply Chain Planning Problem

Logility

In the interactive “ Top Halloween Candy by State ” map, CandyStore.com shows my beloved candy corn is the favorite candy for trick-or-treaters in Idaho, Nevada, New Mexico, Iowa, Michigan and Alabama. I admit, I love to eat Halloween candy as much as most grade school children (maybe more).

Complete Logistics Solution

3PL Insights

3PL Derek Byrd Employees Inventory Management John Evans Leslie Ajlouny Logistics Michigan Quality Warehousing Evans is a Top 100 3PL for the past 11 years, providing complete logistics solutions. As an industry leader in logistics, we strive to provide a quality service to our customers and be an... The post Complete Logistics Solution appeared first on 3PL Insights - Warehousing, Transportation, and Logistics.

Solving the Supply Chain Planning Puzzle

Logility

I can’t wait to receive my Michigan State themed shoes – GO GREEN , GO WHITE.). Eliminating excess and obsolete inventory is a priority for many manufacturers. The variety of products available through a growing number of distribution channels is truly amazing.

Let the Design Begin…

Supply Chain Shaman

It was held at the University of Michigan in Ann Arbor. On Wednesday, the theatre at the Michigan League was bursting at the seams to hold over 500 attendees. It could no longer be just about inventory levels. This week, I spoke at the Llamasoft Summercon Conference.

A Supply Chain Evangelist can help your mid-size company get on board with strategic supply chain improvements

OneSCM

As you can imagine, the challenges are many, ranging from poor visibility, productivity, and predictability, to low inventory turns, difficulty gathering data to measure supplier performance, and problems reconciling/matching/paying supplier invoices on time.

Solving the Supply Chain Planning Puzzle

Logility

I can’t wait to receive my Michigan State themed shoes — GO GREEN , GO WHITE.). Eliminating excess and obsolete inventory is a priority for many manufacturers. The variety of products available through a growing number of distribution channels is truly amazing.

Design Your Business to Thrive: Four Components of a Smart Supply Chain Modeling Platform

Talking Logistics

An all-in-one design engine with multiple integrated solvers can perform network, product flow, cost-to-serve, inventory, production and transportation optimization as well as greenfield and demand analysis in a single user interface and data model.

LeanCor Executives to Present at CSCMP Conference

LeanCor

When it comes to operational excellence, benefits include increased supplier fill rate and supplier performance, supply chain visibility and improved measurement systems, and increased inventory velocity and inventory reduction. Woodrooffe, University of Michigan.

What You Need to Know About the State of eCommerce Logistics

Cerasis

Warehouses Renew Focus on Inventory Control. The simplest way of making a warehouse run efficiently is by managing inventory better. So, the only solution to better managing inventory for eCommerce is by changing the internal layout of a warehouse, reports Inbound Logistics. The eCommerce consumer expects free shipping, fast delivery, and hassle-free returns, asserts the E li Broad College of Business at Michigan State University.

IoT Speeds Over-the-Road Shipment Tracking

Talking Logistics

According to a 2017 Michigan State University Supply Chain Management study , “supply chain and product complexity possess a number of sources that vex supply chain operations…customer accommodation is the first,” including the demand for speed and visibility into shipments. Amazon’s disruptive effect has put two key strains on supply chain professionals: to ensure inventory availability across a broader network of distribution points, and get product to the consumer in days, if not less.

Transportation, Planning, and Omni-Channel Fulfillment

Talking Logistics

In all of the rush to get the right mechanisms in place to pick, pack and ship or deliver omni-channel orders, the need to carefully plan exactly how much of which inventory needs to be positioned in each location to make the pick, pack and ship possible can be easily overlooked.

31 Motivations for Reshoring Manufacturing & Updated Reshoring Stats

Cerasis

Obsolete and excess inventory carriage are more preventable. Ford, second only to Walmart in reshoring over the past five years, brought 3,250 jobs from Mexico to Michigan and Ohio to build F-650 and F-750 trucks, Fusion cars, and engines.

Can Omni-Channel Help Consumer Goods Companies Fight Private Label?

Talking Logistics

Next, you need visibility to all inventory across the enterprise integrated with a distributed order management system so you can not only deliver on your customer promises, but do so as profitably as possible. Jim has an MBA from the University of Michigan and a BSME from Marquette University.

On the road! 4 September supply chain conferences we love

Kinaxis

Detroit, Michigan. by Melissa Clow September is a busy time of year for us at Kinaxis – Many folks here are flying the skies to attend various conferences. Here’s the supply chain conferences we love and will be attending. Hope to see you in the coming weeks!

SCI IMPACT! vs. the Beer Game

Supply Chain Insights

Recently I had the opportunity to go to Llamasoft headquarters in Ann Arbor, Michigan to play the game they have programmed for Supply Chain Insights around supply chain strategies and inside-out versus outside-in processes, SCI IMPACT!

Chuck Intrieri Executive Profile

The Logistics of Logistics

Chuck Intrieri is a: Certified Value Engineer (VE), Certified Purchasing Manager (CPM), Certified Production and Inventory Control Manager (CPIM), and is Lean Certified all of which attests to his deep understanding of operations and logistics beyond the confines of the purchasing function. Evolve Dental Technologies, Inc, Virtu USA, and many other large and medium sized companies in Illinois, Michigan, Arizona and Orange County, CA.

Using Modeling and Analytics to Design a Resilient Supply Chain

Talking Logistics

Examples: moving inventory to alternate locations, changing supplier relationships. This data can be viewed in time-series reports showing missed orders, inventory levels, total cost and more, as a critical way to evaluate resiliency.

Freight Gathers Strength in Early November, Led by Western Region

DAT Solutions

Hanjin bankruptcy , resulting in supply chain disruption and increased amounts of inventory transfers, to prevent stock-outs. We look at national trends every week, but sometimes the detail can get lost. Then we look at lane-by-lane reports, and we might miss a broader trend.

Putting the “S” Back in the S&OP Planning Process

Supply Chain Opz

Professor Zondag is a professor from supply chain program at Western Michigan University which is ranked one of the best program in the nation. Sales & Operations Planning has been accepted more and more by both academia and practitioners as the way to balance demand and supply.

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This Week in Logistics News (October 23-27, 2017)

Talking Logistics

Alphabet looks to snowy Michigan to test self-driving cars (Reuters). stores to replenish inventory faster and save employees time when products run out.” My daughter and I are heading on a road trip this afternoon to visit a couple of universities.

Is it Time for to Move Away from “World Class Supply Chains”?

NC State SCRC

As a young assistant professor at Michigan State University, I was part of a group called the Global Procurement Benchmarking Initiative, led by Professor Robert Monczka. During the 8 years I was at Michigan State, we benchmarked over 300 companies all over the world, and set forth many of the principles for what we called “World Class Procurement”. They combined related functions such as purchasing, inventory control, receiving, and stores under the authority of one individual.

Why Omni-Channel Fulfillment is a Workforce Double-Whammy

Talking Logistics

With the rapid increase in ecommerce orders, the rising carrying costs of maintaining dual sets of inventory, and the need to seamlessly support cross-channel fulfillment options such as buy online/pickup in-store, many companies are finding it less costly and a better service option to combine inventories and distribution processes under one roof. These systems, along with capabilities for managing the associated store inventory, are often referred to as Store Logistics Systems.

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2016: The Year of Connectivity

Talking Logistics

New options such as buy online/ pickup in-store (BOPIS), ship-from-store, endless aisle and save-the-sale require an enterprise-wide view of all inventory, and planning and execution systems that can seamlessly accommodate these new processes. Jim has an MBA from the University of Michigan and a BSME from Marquette University. New technology has made today’s world a much more connected place.

It’s About Time for a new “World Class Supply Chain” Paradigm

NC State SCRC

As a young assistant professor at Michigan State University in 1992, I was part of a group called the Global Procurement Benchmarking Initiative. In logistics, the focus became on centralization of distribution centers and warehouses to drive optimization in transportation routing, reduce inventory carrying and handling costs across the system.

Dispelling Three Common Myths about Global TMS Deployment

Talking Logistics

That’s the kind of information that can influence a company’s decision on going into a market, staying in a market, where to source inventory from, which suppliers to work with, etc. Walter holds a Bachelor of Arts degree from Michigan State University and attended The Detroit College of Law.

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Experts Choice Of Top Online Logistics Resources

Freightos

Online marketing enthusiast and an inventory and supply chain optimization devotee, David covers both ends of the supply chain at his Supply Chain Inventory & Supply Chain Optimization blog. Lynch is GM at Michigan logistics provider, Rock Solid Business Solutions.

Is Your Supply Chain Thoughtfully Designed, or an Afterthought?

FLEXE

On average, LLamasoft customers saved: 9% on inventory costs, 7% on sourcing, 6% on handling, 11% on production costs, 11% transportation costs, 10% on fixed costs and 12% on total supply chain variable costs.¹ 2: University of Michigan 2015 Supply Chain Design COE Research.

Supply Chain Strategy: Thoughtfully Designed, or an Afterthought?

FLEXE

On average, LLamasoft customers saved: 9% on inventory costs, 7% on sourcing, 6% on handling, 11% on production costs, 11% transportation costs, 10% on fixed costs and 12% on total supply chain variable costs.¹ According to a survey by the University of Michigan, more than 70% of companies that have supply chain design centers of excellence identify savings of at least 10 million dollars along with significant improvements in both time and cost efficiency².</p>

ScottsMiracle-Gro Improves Distribution System in Sustainability and Customer Service

Supply Chain Network

Improve inventory turns at retail by reducing fertilizer order minimums. ScottsMiracle-Gro currently has warehouses connected to operations for the co-distribution of fertilizer with growing media products at 16 locations in Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Michigan, Missouri, Ohio, South Carolina, Texas, Virginia and Wisconsin. A new 100,000-sq. warehouse will be added to The Scotts Miracle-Gro Company’s operation in Lebanon, Conn.