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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

Cerasis

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

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

Cerasis

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.

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.

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.

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.

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.

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.

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?

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. Source: [link] ). Source: [link] ). Source: [link] ).

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.

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

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.

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 83

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.

Logistics Cost Reduction: 6 Focuses to Create More Profit

Cerasis

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.

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.

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. On the other hand if customer demand fails to materialize according to forecast you can be stuck with a lot of custom inventory, unrecovered expenses and a huge cash flow problem. And Supply Chain manages the levels of inventory which can dramatically impact the deployment of cash.

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.

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. Examples of this include expediting with LTL and air freight and costly in-network transfers from warehouse to warehouse–all of which erode profit margins.

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.

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.

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.

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.” “I predict we will see a greater adoption of automated tools assisting, rather than replacing, humans in specific roles within our supply chains: warehouse, manufacturing and distribution.” Warehouse Operations

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

3D Printing Set to Streamline the Retail Supply Chain Through Reduced Lead Times and Inventory

BluJay Solutions

The attractiveness of 3D printing for manufacturers and retailers/distributors centers around reducing both lead times and the risks involved in holding inventory. Anyone involved in retail procurement is acutely aware of the importance of correctly predicting consumer/end-user requirements and ordering the right goods at the right time, in the right quantities. Utilize 3D printing to product a compatible power source for a batch and find out.

Effectively Manage Foodservice Supply Chains During Disruptions

CH Robinson Transportfolio

Robinson experts act as an extension of your team when it comes to contract management, transportation, warehouse services, consolidation, last mile delivery and fresh produce sourcing—allowing you to optimize your entire supply chain holistically. Moving and storing product inventory at warehouses close to restaurant locations can reduce transit time and ensure that as business ramps up, your supply management will be aligned to increasing volume needs.

Should You Be Using SDE Analysis to Classify Your Inventory?

Unleashed

When you’re a business owner, trying to run a successful warehouse can be a big job. Inventory levels can fluctuate with demand and keeping track of everything without the right inventory control can be a challenge. Look to implement a periodic inventory analysis to enhance your inventory control practices. Inventory analysis is a critical step that guides the decision-making process from business owners.

5 Strategies for Retailers to Combat the Coronavirus Impact

Vinculum

Sourcing stock to meet customer demand is unarguably challenging in the recent times as factories/production houses continue to be quarantined. It is also highly essential to avoid the scenarios of excess stock, deadstock and excess inventory replenishment. With this, retailers can also save a lot on costs in terms of stock procurement. If there is one thing that is trending globally, lately, it is the coronavirus outbreak or COVID-19.

28 supply chain professionals share the biggest challenges of supply chain management

6 River Systems

All of the above (and other down-stream KPIs and processes) are heavily influenced by the accuracy of a demand forecast: if the demand forecast is much more accurate, a company is more likely to have the right product, in the right quantities in inventory and will have less of the products in inventory that is not required. Our supply chain involves a contract manufacturer, a third-party testing facility, warehouses to store inventory and a freighting company.

How Food Manufacturing Software Drives Profit [w Case Studies]

Unleashed

Effective inventory management is crucial to reducing costs in any manufacturing business. The right software will also improve operational processes, boost warehouse efficiency and reduce waste. 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. Here are some reasons why you need to upgrade to better food inventory software.

50 expert tips on logistics planning and strategy

6 River Systems

Implement supply chain actions, including with internal procurement teams, with suppliers and through broader collaboration, and develop measurable targets for these efforts. NetSuite has launched a supply chain snapshot feature that’s a central part of any control tower that shows all of your inventory and related transactions with the ability to filter by subsidiary, location, etc. Think about how your warehouse might look in 2030. Warehouse Operations

5 Best Logistics Books for Beginners

Supply Chain Opz

Delivering Customer Value through Procurement and Strategic Sourcing Many people don't know that procurement is a part of integrated logistics. In logistics management literature, procurement is also called "Inbound Logistics" or management of incoming materials. This logistics book will show you have to plan and execute procurement strategy in a step-by-step manner. In our opinion, this is the best book on warehouse management ever.

Are We Facing the End of Supply Chain Management?

Supply Chain Game Changer

Blog post originally published by, and permission to publish here provided by, Argentus at [link] , a boutique recruitment firm focused on Supply Chain and Procurement. Automation has eliminated a number of blue-collar supply chain jobs in warehouses and distribution centres, and driverless trucks stand to transform the logistics field, eliminating the need for millions of truck drivers. Argentus is a boutique recruitment firm focused on Supply Chain and Procurement.

Supply Chain Collaboration – The New Way to Drive Value!

Supply Chain Game Changer

Supply chain collaboration is a hot topic today and no wonder: companies that collaborate effectively across the supply chain have enjoyed dramatic reductions in inventories and costs, together with improvements in speed, service levels, and customer satisfaction. Subscribe Here!