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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. MORE
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. MORE
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. MORE
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 MORE
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. MORE
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? MORE
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. MORE
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. MORE
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. MORE
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?” MORE
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] ). MORE
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. MORE
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. MORE
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. MORE
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 MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
“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 MORE
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. MORE
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! MORE
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. MORE
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. MORE
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. MORE
Inventory Procurement Sourcing Warehousing 6 River Systems
DECEMBER 13, 2019
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.
Cerasis
FEBRUARY 17, 2016
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.
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Cerasis
JULY 12, 2016
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.
Supply Chain Opz
JUNE 23, 2014
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.
OptiProERP
JUNE 17, 2019
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.
synchrono
JANUARY 8, 2018
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.
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Supply Chain Opz
MARCH 26, 2015
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.
EazyStock
FEBRUARY 7, 2020
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.
Supply Chain Opz
MARCH 26, 2015
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?
Supply Chain Game Changer
NOVEMBER 13, 2018
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] ).
CH Robinson Transportfolio
AUGUST 26, 2020
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.
|
NC State SCRC
JUNE 27, 2017
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?”
CH Robinson Transportfolio
APRIL 18, 2019
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 Game Changer
JUNE 11, 2019
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.
SupplyPike
MAY 27, 2020
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.
Cerasis
FEBRUARY 16, 2016
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.
AFFLINK
MAY 11, 2017
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 Game Changer
JUNE 16, 2020
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.
CH Robinson Transportfolio
APRIL 18, 2019
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.
ToolsGroup
MARCH 17, 2020
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.
Unleashed
JANUARY 15, 2020
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.
6 River Systems
FEBRUARY 3, 2020
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.
EC Sourcing Group
DECEMBER 17, 2018
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.
6 River Systems
JUNE 26, 2020
“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
Logility
DECEMBER 4, 2018
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
BluJay Solutions
MARCH 28, 2014
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.
CH Robinson Transportfolio
JULY 28, 2020
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.
Unleashed
DECEMBER 9, 2018
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.
Vinculum
APRIL 21, 2020
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.
6 River Systems
JULY 25, 2019
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.
Unleashed
AUGUST 11, 2020
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.
6 River Systems
DECEMBER 11, 2018
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
Supply Chain Opz
MAY 1, 2018
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.
Supply Chain Game Changer
NOVEMBER 14, 2018
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 Game Changer
NOVEMBER 10, 2018
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!
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