3 Steps to Addressing Product Quality Issues with Your International Suppliers

Cerasis

Chuck is a legend in our industry and is helping us figure out how to deal with product quality issues when dealing with international suppliers. And how many suppliers have you worked with that you wish would take serious steps to reduce or prevent the quality defects that are hurting your bottom line? . It’s obvious to most of us in the fields of manufacturing, importing and Supply Chain Management the headaches that quality defects can bring. .

Supplier Quality Management: What it is, 5 Key Metrics to Know & a 4 Step Supplier Evaluation Process

Cerasis

Editor’s Note: This is the first in a three-part series on Supplier Quality Management processes and how to evaluate your suppliers from Chuck Intrieri of The Lean Supply Chain. In fact, we are introducing our newest blog category so you may easily read all supplier quality management type posts here. . First, what is Supplier Quality Management (SQM)? 5 Key Metrics to Use for Scoring Supplier Quality Management (From LNS Research ). Cost of quality.

Who Needs Quality Management?

Oracle SCM

Everyone knows that quality is an important topic. With such an approach, companies are working in a sub-optimal manner, and then start to face these types of challenges: - Quality metrics are either not available or are incomplete. -

Lean Inventory: Using Lean Initiatives To Manage Inventory

Cerasis

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. What is Lean Inventory Management? Attributes of Lean Inventory Management.

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How to Measure Inventory Health

ToolsGroup

Financial executives measure inventory health with metrics like inventory turns because they view the firm from a financial viewpoint - such as how much working capital is being tied up. The concept of inventory health is based on this expectation.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

What Qualities Make the Best Supply Chain Leaders?

Kinaxis

A supply chain leader must be able to continuously monitor these metrics to determine if productivity, quality, inventory, and other tactical objectives are being met, exceeded, or missed. What are the most valuable qualities of a supply chain leader in your organization?

Electronic Data Interchange and its 4 Important Qualities

Descartes

New items quickly fill up inventories. The post Electronic Data Interchange and its 4 Important Qualities appeared first on Appterra Collaborative Commerce. In the ideal world, using EDI helps you avoid making a mistake.

What is Inventory Carrying Cost?

EMERGE App

But while the newly arrived goods sit in your warehouse, did you know that there are also costs associated with keeping inventory? They are collectively called inventory carrying costs because they need to be paid to hold inventory. What is Inventory Carrying Cost?

The Absolut Company: Balancing Service and Inventory Creates a Delicious Mix

ToolsGroup

The world’s #2 selling vodka brand leaves nothing to chance when it comes to quality and sustainability. A key factor was Optilon’s ability to integrate best-of-breed solutions for production planning, demand forecasting, inventory optimization, and replenishment into a seamless process.

The Future of Inventory Management

Kinaxis

by Andrew Dunbar This post concludes my inventory management blog series. Inventory management is not a stand-alone business process that occurs after other processes are complete. How does your inventory manager’s role compare to the one I’ve described here?

3 Inventory Control Techniques to Improve and Maintain Inventory Accuracy

Unleashed

Inventory accuracy is vital to an organisation’s long-term success. Profits depend on the sale of inventory stock and if you don’t know what or how much you are selling then you could be missing an opportunity to maximise sales. Having poor and inaccurate inventory control can be costly because it causes issues such as unplanned stock-outs, the shipping of wrong products to customers, wasted resources trying to locate misplaced items and inventory shrinkage.

5 Traits of a Great Inventory Manager

Unleashed

Inventory management is key to the success of any business, big or small. As your business grows, good inventory management will become even more crucial, and you may need to hire an inventory manager who can dedicate their time to ensuring it all runs smoothly. Being a successful inventory manager requires a broad range of skills and know-how. In this article, we explore the key attributes and tasks required of a good inventory manager. Ordering new inventory.

Inventory Metrics: From Insight to Action

Kinaxis

by Andrew Dunbar Over the last several weeks, this blog series on Inventory Management has explored the objectives and roles of inventory managers and outlined several of the improvement levers available to them. So, what do you need to measure to manage your inventory ?

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.

Inventory Management Levers – Success Through Collaboration

Kinaxis

by Andrew Dunbar So you’re an inventory manager, and your CFO just asked you to reduce inventory by 10% before year end to free up some capital for next year’s big investment in R&D. Figure 1: The theoretical on hand inventory level of a single item.

Medicine's Inventory Nightmare

Elementum

However, many hospitals and medical institutions struggle to provide adequate care due to inventory issues resulting from a dependence on outdated and inefficient supply chain management systems. These figures can be attributed to the fact that inventory management poses a particularly challenging task in the healthcare industry, where inventory needs constantly fluctuate, requiring meticulous tracking methods. medical supplies healthcare inventory management

Medicine's Inventory Nightmare

Elementum

However, many hospitals and medical institutions struggle to provide adequate care due to inventory issues resulting from a dependence on outdated and inefficient supply chain management systems. These figures can be attributed to the fact that inventory management poses a particularly challenging task in the healthcare industry, where inventory needs constantly fluctuate, requiring meticulous tracking methods. medical supplies healthcare inventory management

Using Lean to Manage Inventory!

Supply Chain Game Changer

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. What is Lean Inventory Management? Attributes of Lean Inventory Management.

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Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

Regulatory and legal restrictions, and safety and quality issues. What is vendor-managed inventory? VMI is the process whereby a supplier or vendor manages and replenishes inventory at a customer’s location at the levels required by the customer.

Thrifty Inventory Management to Save Money and Increase Profits

Unleashed

This is all very well, however to achieve this goal, inventory management needs to be a focus. If inventory management is not considered carefully as a business improvement metric, then it can insidiously become a money trap which of course will simply erode any profits to be made. This is where efficient, lean and thrifty inventory management comes in. So, try to seek out the root cause of the problem as usually, that will fix any inventory management issues.

7 Inventory Control Practices That Save You Money

Unleashed

Not only will effective inventory control save you money, but it can also improve cash flow in other ways. It’s important to factor inventory stock into your cashflow management because it represents money spent that won’t generate cash until your inventory has been sold. The longer inventory sits on your shelves, the more it costs, tying up cash reserves and occupying valuable space. Reducing inventory stock.

Manufacturing Quality Issue Turns into a Huge Success Story for Procurement

EC Sourcing Group

If you sell a premium product, manufacturing quality issues can kill your image and your bottom line. They protect the beverage and their unique shape and labeling are an important part of their high quality brand image.

Creating an Actionable Plan for Unlocking Working Capital with Inventory Optimization

Arkieva

For many companies, the term “inventory optimization” has become more of a catch phrase than an actual reality. The idea of cutting inventory costs while maintaining the same level of customer service is rather elusive. Hence, reducing the need for an excess in inventory.

Are you getting the most out of your inventory management process?

Kinaxis

by Andrew Dunbar Inventory is often the single largest asset on a company’s balance sheet and your inventory management process can have a huge impact on your organization’s bottom line. Finance and business management will prioritize inventory reduction to increase profitability.

The Teetering Relationship Between Inventory Control and Profit

Unleashed

The control of inventory and the effect it has on a company’s profit is inextricable and should be duly noticed by anyone attempting to manage sales and inventory. What many companies fail to fully appreciate is that inventory and cash can often be thought of as one and the same. If too much cash is invested in purchasing inventory in the hopes of future sales, it comes directly off the bottom line until it is recuperated through sales.

Inventory Reduction: The Path to Supply Chain Management

LeanCor

Inventory Reduction: The Path to Supply Chain Management. Inventory is not only a critical part of supply chain management; too often it is the main cause of a painfully incremental progression toward effective and genuine supply chain management. This inventory builds.

The Ongoing Evolution of Inventory Control

Unleashed

Prior to the industrial revolution, inventory control was all but not existent. Or perhaps they wrote down all sales and deducted the transactions from the inventory quantities they presumed they had. Managers could then record inventory stock and sales data. The first version of the modern barcode was the next breakthrough in the evolution of inventory control. Barcodes for inventory control. Tracking inventory by hand was replaced with product scanning.

Life Sciences Industry Inventory Optimization Health Check

Logility

One potential way to reduce costs without lowering the quality of healthcare is to optimize how much inventory is required and where that inventory is positioned. How much excess inventory do we have and where is it? Can we safely reduce inventory?

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.

How Artificial Intelligence and Global Economic Factors Affect Inventory Optimization

ThroughPut

Through the targeted use of Artificial Intelligence (AI), Machine Learning and other technologies, leading global innovators are constantly trying to enhance the effectiveness of their inventory management.

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

Cerasis

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.

What Does IoT Mean for Inventory Management?

Unleashed

The dawn of the Internet of Things (IoT) is upon us and it is set to revolutionise many industries including inventory management. However, before we can understand how inventory management will be affected by IoT and how we can optimise this, we must first understand what exactly it is. So, what does this mean for inventory management and supply chains? The effect of IoT on inventory management software. The post What Does IoT Mean for Inventory Management?

Six Sigma Tools and Inventory Management

EMERGE App

Instead, it refers to a quality management improvement process used by large scale manufacturers. At first glance, there may not be much synergy between Six Sigma and inventory management. Here, we’ll cover what this quality-improvement practice means and what it involves.

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.