Remove Inventory Remove Procurement Remove Sourcing Remove Warehousing

Warehousing 101: An Introduction to Digital Warehouse Automation

RFgen

Key Takeaways: Warehousing and distribution face unprecedented pressures from COVID-19 disruption, commoditization, labor shortages and rising customer expectations. Warehouse automation is an effective way to gain efficiencies, cut costs and scale operations. High warehouse turnover.

The 10 Procurement Metrics that Matter in 2021

Unleashed

What is procurement? In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. This is often managed with the help of supplier management software or inventory management software.

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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. “Warehouse optimization starts with an efficient layout. Use slotting to minimize inventory loss.

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

GlobalTranz

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH. Inventory cost is defined as the cost of holding goods in stock. First, take a physical wall-to-wall inventory.

Lean 191

Warehouse Cost Savings: 5 Key Areas of Focus and 13 Practical Objectives

GlobalTranz

A Director of Operations, Warehouse Director or Manager, or even the Director of Supply Chain or Logistics, are always in the pursuit of continuous improvement as well as warehouse cost savings in both time and money. In today's modern society, often, the stop gap in efficient productivity in your warehouse is typically one of two things: bad process & getting caught up in the weeds of tactics. 5 Key Areas to Focus on in the Pursuit of Warehouse Cost Savings.

ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

That’s the question we set out to answer in our recent panel discussion with Procurement and Supply Chain experts. For example, a single-stack approach can lead to low user adoption, because the incumbent sourcing solution, for example, fails to meet the needs of various business units. .

10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

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

Requis

People are still worried about having efficiencies in their warehouses, making sure they’re laid out properly, and having the right processes. A lot of companies now will have regional hubs with just smaller satellite warehouses in each country.

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. To ensure inventory visibility, you should have access to view, manage, and update your inventory status from trusted software. What Improved Inventory Visibility does. Inventory ties up money. How ERP Improves Inventory Visibility.

How to Manage Inventory in a Growing Business

EazyStock

Inventory Management, Business Growth & Expanding Product Portfolios. At EazyStock we talk to a lot of small- and mid-sized businesses (SMBs) who are struggling to effectively manage their inventory. Inventory Management Challenge 2: Expanding Product Portfolios.

It’s Time to Revisit Vendor Managed Inventory

synchrono

A few decades ago, Vendor Managed Inventory (VMI) was a hot topic. Many manufacturers saw it as a way to reduce inventory levels and costs. If they could get their suppliers to maintain ownership of raw materials or subcontracted components until consumed, inventory levels would naturally drop—on paper anyway. And if the forecast was overstated, the manufacturer didn’t need to worry about excess vendor-managed raw material or contracted-components inventory.

4 Ways To Improve Procurement For Increased Customer Satisfaction

Slimstock

Though it’s often overlooked as an element of customer satisfaction, procurement is an essential component for delivering that satisfaction. Procurement involves buying goods and services that keep an organization operating; it ensures warehouses are well-stocked with the proper supplies at all times. Procurement can be responsible for up to 70 percent of a company’s revenue , so small changes in procurement functions can have a major impact on profitability.

10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

The Beginner's Guide to Inventory Control and Management

Supply Chain Opz

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?

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?”

KPI 40

The Supply Chain Workload Iceberg!

Supply Chain Game Changer

When a Procurement team is asked to find a new supplier to perform a particular service or supply a specific type of components, parts or materials there are a large number of steps required to bring this result to fruition. Warehouse Order Fulfillment. Subscribe Here! Email Address.

eBook 60

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 and AI.

Optimizing Retail Supply Chains to Meet Demand and Reduce Costs

CH Robinson Transportfolio

Change your thinking on retail procurement. Robinson can offer Managed Procurement Services and assess the entire end to end pipeline of your retail model, looking at each element holistically to see how changes in one piece of the process could lead to changes in another. That can produce real results: decreased expenses, faster inventory turns, better data analytics, smarter ordering, and ultimately more satisfied customers.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Supply Chain Game Changer

A predominant issue is having single, or sole, sourced parts. If the supplier provides materials that can be sourced elsewhere then you have a path to developing a contingency plan. And Supply Chain manages the levels of inventory which can dramatically impact the deployment of cash.

What Exactly Is Supply Chain Management? 10 Different Definitions!

Supply Chain Game Changer

Yet all of the functions that we now associate with Supply Chain have been around for a very long time: Planning, Inventory Management, Logistics, Procurement and Purchasing, Warehousing and many more. I worked in Materials Handling, Packaging Engineering, Warehouse Space Planning, Resource Planning, Procurement, Inventory Management and Control, Production Control, Systems Management and other areas. Source: [link] ). Source: [link] ).

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. These jobs could involve working in a Warehouse, Distribution Centre, Manufacturing operation, or in an Office environment, or all of the above.

SCM 84

Using Digital Supply Chain Planning to Respond to Market-Changing Disruptions like COVID-19

ToolsGroup

Macro events like the Coronavirus crisis trigger demand volatility that affects every link in your global supply chain—from the raw materials you procure to setting safety stock levels to planning logistics and promotions.

Logistics Cost Reduction: 6 Focuses to Create More Profit

GlobalTranz

Ensure that your warehouse operation is safe. Analyze labor reduction for any warehousing operation. There are Labor Management Software systems that can help manage work in the warehouse. Incentive programs for warehousing employees do work. Try warehouse mobility in your four walls. Productivity increases from wearable voice command tools can increase factory warehouse efficiencies up to 30 percent, according to an article in Supply Chain Management Review.

Overcome Foodservice Disruptions: Focus on Technology, Service Networks, and Transportation

CH Robinson Transportfolio

While inventory levels and demand requirements continue to remain irregular, the most successful companies focus on technology, service networks, and expedited transportation options to overcome challenging market conditions. No one could predict how much uncertainty 2020 would bring.

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.

Pursuing a Career in Logistics and Supply Chain

Logistics Bureau

Because there is such a wide spectrum of logistics and supply chain jobs available, it is best to categorise them in the following way: planning, manufacture, sourcing, and delivery. Warehouse Manager. Sourcing. Strategic Sourcing Manager. Procurement Specialist/Manager.

5 Procurement Management Tips for the New Kid on the Block?

AFFLINK

In much the same way, any business seeking success in the procurement management environment should address the fundamentals first. Procurement management accountability builds from having processes and quality controls that meet or surpass customer expectations. Every part of transportation, storage, and services of inbound, outbound, internal, and external movements from the source to the customer corresponds with values that intersect for the customer and the business.

Optimizing Retail Supply Chains to Meet Demand and Reduce Costs

CH Robinson Transportfolio

Change your thinking on retail procurement. Robinson can offer Managed Procurement Services and assess the entire end to end pipeline of your retail model, looking at each element holistically to see how changes in one piece of the process could lead to changes in another. That can produce real results: decreased expenses, faster inventory turns, better data analytics, smarter ordering, and ultimately more satisfied customers.

The Supply Chain Construct for New and Growing Businesses!

Supply Chain Game Changer

That is the purview of Procurement. Cash is king and cash flow management is the source of life, or the cause of death, of any company. Specifically it is also important to have great Procurement leadership that is business savvy and great at relationship management.

eBook 60

Purchase Price Variance (PPV)! A Profit or Loss Opportunity?

Supply Chain Game Changer

Featuring Our 12 Best Procurement Articles! Purchase Price Variance, or PPV, is a common term in the realm of Purchasing/Procurement and Finance. As a result PPV can either become a source of great profitability for your company or the cause of tremendous financial losses.

eBook 56

Manufacturing Quality Issue Turns into a Huge Success Story for Procurement

EC Sourcing Group

Today I will share a fantastic success story from a strategic sourcing consultant who is friend of mine. Agreed to build a small warehouse next to the producer’s facility to streamline the supply chain. Agreed to Net 45 payment terms based on inventory pull – the company had previously paid 50% six months in advance for each order. The last point demonstrates the benefit of hiring people that understand procurement and what can be negotiated.

Ultimate guide to technologies that are transforming supply chains

6 River Systems

IoT supports operational efficiencies in areas such as asset tracking, inventory management and forecasting, improving productivity and aiding decision-making across the supply chain. Robotics enabled with AI and ML augment the work of humans in warehouses and distribution centers.

Ultimate Guide To Technologies That Are Transforming Supply Chains

The Logistics & Supply Chain Management Society

IoT supports operational efficiencies in areas such as asset tracking, inventory management and forecasting, improving productivity and aiding decision-making across the supply chain. Robotics enabled with AI and ML augment the work of humans in warehouses and distribution centers.

Supply Chain Scams and Fraud!

Supply Chain Game Changer

Source: bestbusinesscircle.com. Finance Freight and Logistics Inventory Management Procurement Risk Management Supply Chain ManagementSubscribe Here! Email Address. Subscribe to Supply Chain Game Changer. 3 Most Common Freight Forwarding Scams (and How to Avoid Them)!

eBook 60

24 supply chain experts & business leaders reveal the #1 challenge of supply chain management (and how to solve it)

6 River Systems

“They have multi-sourced key commodities or strategic components to reduce their reliance on any one supplier, and they had considered inventory strategy to buffer against supply chain disruption.” Warehouse Operations