Is Inventory Waste or an Asset?

Supply Chain Shaman

We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. We feel so strongly about this that we do not have an inventory planning role.” His feeling was that inventory is an asset to manage. Inventory is both. Inventory management is a complex subject.

Procurement & Suppliers: Paying Attention to Terms & Conditions to Keep Supplier Relations Postitive

Cerasis

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". However, in many circumstances, the supplier will send an invoice that contains one set of terms, while the procurement professional will issue a purchase order which contains additional or different terms. This dispute presents a classic Battle of the Forms example.

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SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

I find that in this world of the global multi-national that procurement processes have become convoluted and increasingly complex. (In In my opinion, we have made procurement increasingly complex without adding value. In my research, I find that the companies with the most progressive procurement processes also have the most advanced customer supply chain process evolution.)Without Spinnaker Management Group asked me to co-present on a demand-driven webinar with SanDisk.

5 Procurement Questions for Santa

Jaggaer

After pulling a few strings, we managed to catch Santa on one of his few coffee breaks at this busy time of year to fire five burning questions at the reigning world champion in procurement. To get a grip on all the orders, I use JAGGAER, a globally recognized for procurement optimization. I especially use the solutions for complex logistics: Vendor Managed Inventory, call-off, Kanban, and more. The post 5 Procurement Questions for Santa appeared first on Jaggaer.

Supply Chain Financing: Liquid Inventory That Keeps Things Moving

NC State SCRC

Craig is a wealth of information on this topic, and we will be presenting the insights from this video soon. It is essentially the flow of funds that keep the supply chain running – think of it as “liquid inventory”, in that it frees up working capital and free cash flow that ensures things don’t grind to a halt. Block Chain Digital Supply Chain Director's Blog Global Supply Chain Information Flows Procure to Pay Supply Chain Finance Uncategorized

The Supply Chain Detective™ and the Inventory Turnover Mystery!

Supply Chain Game Changer

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. Subscribe Here!

Do You Understand Your Chief MRO Inventory Challenges?

Logistics Bureau

Given this knowledge then, does your organisation place enough importance on the management of MRO inventory? If yours is one of them, and you’re wondering where and how to start getting a grip on MRO inventory, this post might help. Read on to discover the most common MRO inventory challenges and issues, the consequences of leaving them unresolved, and most importantly, the potential benefits of overcoming them. MRO Inventory Forecasting: A Matter of Opinion?

Assessing the True Return of Procurement Transformation on Total Shareholder Return: A Tough Proposition

NC State SCRC

In my earlier book with Gerard Chick on “ The Procurement Value Proposition “, we advance the notion that buildoing a business case for investing in people, process, and technology improvement in procurement is key. Many procurement assessments developed by consultants seek to provide an answer to the question “how far along are you relative to your peers in your procurement transformation journey”, and “which processes are lagging compared to your peers?”

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How Does Procurement Create Value? Insights from CPO Speakers at Zycus Horizons Conference

Supply Chain View from the Field

In addition to the procurement executives, I also got to meet Captain Dick Phillips, the captain of note in the film “Captain Phillips” We had a chance to talk about his experience, and he also presented to the group about the incredible experience he went through. Chris Sawchuck from the Hackett Group interviewed three heads of procurement from three large companies, and asked an important question. Does procurement add to top line revenue.

Zara – The Benefits of Agile Procurement / Supply Chain

ivalua

The key to Zara’s ability to establish an agile Supply Chain rests on the following unique approaches: Procurement Methodology: Zara’s Procurement team doesn’t work on the number of finished clothes but on the quantity of raw materials needed to manufacture the clothes. Local Manufacturing: Zara presents a drastically different approach than its competitors. The post Zara – The Benefits of Agile Procurement / Supply Chain appeared first on Ivalua.

Why is Supply Chain Such a Great Career Path?

Supply Chain Game Changer

SCM encompasses the integrated planning and execution of processes required to optimize the flow of materials, information and financial capital in the areas that broadly include demand planning, sourcing, production, inventory management and storage, transportation — or logistics — and return for excess or defective products. supplychainmanagement #humanresources #procurement #logistics #jobs. Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer.

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How Inventory Control Can Benefit from Artificial Intelligence

Unleashed

Effective inventory control centres on the fine balance of holding enough inventory to ensure the business operates effectively while avoiding the overstocking that ties up valuable cashflow and leads to waste. Inventory control can benefit from artificial intelligence (AI) because AI provides powerful insights for companies, highlighting interesting trends from large volumes of data that help procurement and warehouse teams to better manage the daily tasks of inventory management.

Winning Student Posters Focus on Visibility, Total Cost of Ownership, and Procurement Processes

Supply Chain View from the Field

Students presented a total of 26 projects, including both practicum projects from our undergraduates, our MBA, and the new Local Food Systems Class. Bayer Crop Science – Internal Procurement Audit – Undergraduate Team: Hamilton Brewer, Emily Ciriano, Scott Gray. I could not have been prouder of the two awards you all won, in addition to being selected to present to the Conference this morning.

The Basics of Walmart Replenishment

SupplyPike

Learn about: Cross-docking Walmart’s inventory technology Shelf-scanning robots Vendor-management inventory. Walmart’s global inventory is worth more than $32 billion on any given day and presently operates more than 11,500 stores across 27 countries. In order to maintain that inventory, the retail giant uses three basic strategies for replenishment : Cross-Docking. Walmart’s inventory strategy primarily revolves around cross-docking.

Supply Chain Event 2016

Supply Chain Movement

Supply Chain Event is the cutting-edge trade event of the year, presenting new solutions and technologies to optimize operations for an audience of 3000 supply chain managers and project officers. With benchmark business case presentations and opportunities to network with experts, software publishers and hardware suppliers, Supply Chain Event – a trade show, conference program, and business forum rolled into one – is a chance to drive digital transformation projects forward.

What is Supply Chain Management (SCM)? (Video)

Supply Chain Game Changer

What Exactly Is Procurement? So here we present a short video of many varying definitions of Supply Chain Management. supplychainmanagement #scm #supplychain #procurement #logistics #distribution #purchasing #technology. Freight and Logistics Inventory Management Procurement Reverse Logistics Supply Chain Management Technology Distribution Logistics Purchasing SCM supplychain supplychainmanagementSubscribe Here! Email Address. And What is Purchasing?

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Time to turn around inventory falls by two days says new report

EFT

The median time for retailers to move returns back to inventory ready for resale has fallen from 2017 to 2018, from a median of seven days down to five days. of retail respondents report that their average time to restock returns is three days or less, marking out a clear focus on agility of inventory that can accommodate a more e-commerce-centric environment and a higher returns volume. . Gabi Weisel, Director Global Indirect Procurement, Estée Lauder.

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

Logility

I used the many nuggets of information from this book to determine my company’s inventory performance against accepted standards and to alter inventory rules in our legacy system. Companies still use rules of thumb like ‘days of supply’ to manage inventory when it has been proven that reductions of up to 30% in overall inventory can be achieved through the adoption of inventory optimization. Inventory Optimization

The Great Gap Year of 2020

Bristlecone

It’s time to plan and operate an intelligent Supply Chain Network, one that’s integrated with real-time market intelligence as well as backend ERP, planning and procurement systems. See the opportunity this Great Gap Year is presenting – and embrace it.

How Food Manufacturing Software Drives Profit [w Case Studies]

Unleashed

Effective inventory management is crucial to reducing costs in any manufacturing business. Good food manufacturing software provides a means to track inventory in real-time, through every step of the supply chain. Why your food inventory management system is going stale.

Manufacturing success: how procurement can leverage Industry 4.0 to manage MRO spend

Xeeva

There are innovative ways for manufacturing and procurement teams to gain visibility into MRO spend and collaborate with each other and their supplier base to better predict service needs. They can also help procurement forecast expected MRO costs. eProcurement solutions that draw intelligence from ERP and MRO databases can help procurement teams proactively manage routine MRO services and avoid reactive scrambling when parts fail or systems break down. Procurement

Why Financial Reengineering Does Not Equal Supply Chain Improvement

Supply Chain Shaman

The concept of the Effective Frontier is that best in class companies align functional metrics to balance growth, cost, inventory and Return on Invested Capital (ROIC) performance while balancing customer service metrics. The cash-to-cash definition is: Cash-to-cash= Days of Receivables+ Days of Inventory-Days of Payables. Note the increase in receivables, inventory and payables, and the small increase in Cash-to-Cash.

The Disintermediation of the Supply Chain!

Supply Chain Game Changer

Most definitions of disintermediation characterize it as the elimination of intermediaries, or “ cutting out the middleman “ Further consider that the “Wastes” associated with Lean thinking and principles include transportation, inventory, over production and motion amongst others. For every node of the supply chain this means that there is transportation, movement and handling, inventory, and production and over, or under production. Subscribe Here!

Is Your Supply Chain A Cost Centre or a Value Creator?

Supply Chain Game Changer

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. The Cash Cycle is a function of the days of Accounts Receivable, Accounts Payable, Inventory and Capital Expenditures. The Supply Chain is directly responsible for the payment terms for Accounts Payable, Inventory (this does vary between companies), and even the negotiated terms for Capital purchases. Subscribe Here! Email Address.

ToolsGroup to Take the Stage with Lennox at American Supply Chain Summit

ToolsGroup

BOSTON (April 17, 2019) – ToolsGroup, a global leader in supply chain planning software, today shared it will exhibit and present at the American Supply Chain Summit 2019 , taking place April 25-26 in Dallas. The American Supply Chain Summit is a leadership focused meeting designed around improving supply chain and procurement strategies across the globe. Our customers consistently see service levels increase while inventory, cost, and waste go down.”.

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How To Differentiate With A Supplier Relationship Management (SRM) Program!

Supply Chain Game Changer

It is critical that this type of program be aligned across the entire corporate enterprise to present a single face to the suppliers. All levels of the organization must be involved, from the procurement person responsible for the supplier up through the CEO, depending on the value of the supplier. The sourcing or procurement function will own the relationship and manage the overall process. The supplier must consistently achieve quality levels agreed to with procurement.

Optimising M&M Spares Supply Chain – LogiSYM August 2020

The Logistics & Supply Chain Management Society

15% decrease in inventory. With Blue Yonder capabilities, Mahindra & Mahindra Spares Business Unit (M&M SBU) now has greater visibility regarding demand, inventory, supply and distribution plans and are able to make more accurate and timely supply chain decisions.

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Time to Squeeze Carriers for Better Rates?

Talking Logistics

So, that tells me that the inventory situation continues to weigh on truck freight volumes. We’ve produced several Talking Logistics episodes related to transportation procurement (see links below), with each guest providing great insights and advice on the topic. Talking Logistics episodes related to transportation procurement: What Are Other Shippers Doing? Leading Practices in Transportation Procurement.

Seasoned Leadership in Action? ? An Interview with Joe Carson, CEO Spend Strategies, LLC!

Supply Chain Game Changer

As an experienced business professional, he has served in diverse roles ranging from Marketing and Strategy, to Procurement and Supply Chain. Past leadership titles include Chief Procurement Officer at both Lucent Technologies and Micron Technologies, in addition to other leadership positions as Vice-President Supply Chain Management, Operational Excellence Executive, and Chief Strategy Officer. Creating clear and compelling presentations. Subscribe Here! Email Address.

The View from Houston: DHL Global Energy Conference 2015

Supply Chain View from the Field

I was joined by one of my former NC State students, Scott Frahm, who sat in on a few of the presentations. The conference was a great opportunity to interact with logistics and procurement executives in an environment of open dialogue and discussion. All of a sudden, everyone is “knocking on the door” of procurement and logistics, asking for cost improvements. Other presentations at the conference included a discussion of compliance in the global supply chain.

The Supply Chain Detective™! In Search of Broken Supply Chain Clues!

Supply Chain Game Changer

Most companies have a Procurement function, Distribution, Logistics, Planning, Inventory Management, Product Data Management, and Operations. At the end of their stint of several months with us they presented their results in a couple of areas specifically. In the area of Procurement they did a lot of benchmarking and highlighted deficiencies in our materials costing and pricing processes, and the resultant uncompetitiveness and financial shortfall that resulted therefrom.

Embracing the Macro Growth in Micro Supply Chains

CH Robinson Transportfolio

This rapid growth is presenting new challenges for stakeholders across the grocery and perishables industry and fresh opportunities to capture additional market share. . Replenishment and real-time inventory of these high-demand items are critical for a customer’s perception of the retail store and impacts repeat customers. Managed Procurement Services (MPS Retail grocery ecommerce sales are up about 35% year-over-year.

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Three Lies and a Truth

Supply Chain Shaman

Here is the list: Supply chain technology implementations have reduced inventory. Here they are: The Lie of Inventory Reduction. Over the course of the last decade, I have carefully recorded and reported presentation after presentation from conference after conference and interview after interview with supply chain leaders. Repeatedly, I heard that supply chain applications have saved costs, reduced inventory and improved customer service.

Imagining the Supply Chain of the Future!

Supply Chain Game Changer

And consider forecast data, planning parameters, cost and price information, materials details and specifications, purchase orders (and all of the accompanying changes and updates), bills of lading, labels, inventory records, and much more. Robots, drones, conveyance and automatic sortation are elements of present day and future supply chains that will continue to evolve. supplychainmanagement #supplychain #scm #futurism #procurement #logistics #technologytrends.

Our 2019 Top 10 List! (Part 2)

Supply Chain Game Changer

Our audience and reach continues to expand with Supply Changer now being ranked as one of the Top 20 Supply Chain blogs in the world and one of the Top 15 Procurement blogs in the world. Here we present our Top 10 list for the second half of 2019. Featuring Our 12 Best Procurement Articles! Featuring Our 12 Best Procurement Articles! Manage Procurement Spend Like It’s Your Own Business! Manage Procurement Spend Like It’s Your Own Business!