Experts Choice Of Top Online Logistics Resources

Freightos

The Experts’ Choice of the Top Online Logistics Resources. So I went straight to the source and asked consultants, trade reporters, Wall Street Journal reporters and others, what their go-to logistics and supply chain sources were. is one of the industry’s most respected logistics sources. The businessman’s news source of choice, global export and import volumes (as well as buying trendings) are key to informing supply chain professionals.

Regaining control: Inventory management best practices (Part four)

Kinaxis

by Richard Cushing In part one of my inventory management best practices series I argue that inventory cannot be managed until it is controlled, and present the notion our general willingness to apportion blame upon unreliable data from enterprise resource planning (ERP) systems is misplaced. In the final part of my inventory management best practices series, I take a look at some additional practices that are important, or even crucial , to successful supply chain efforts.

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Why Get a Product Sourcing Agent?

Supply Chain Game Changer

Product Sourcing Agent article and permission to publish here provided by Joyce Chen at Epic Sourcing. When starting your importation business, finding the primary resources required is one of the first and most vital steps. Who is a Product Sourcing Agent? Subscribe Here!

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. In order to achieve maximum efficiency in freight sourcing and procurement, you need a strong team to handle the requirements. These are the must-haves for any effective freight sourcing team. Subscribe Here! Email Address.

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. Jeff: We all know that globalization is affecting the supply chain and companies don’t have the same flexibility with local resources as they did a decade or two ago. It then uses this model to understand the impact of demand forecasting on inventory.

The Inventory Accuracy “Confidence Gap”

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: 5 Key Insights to Improve Inventory Performance for 2019 ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. And it begins with improving their inventory accuracy. The Inventory Accuracy “Confidence Gap”.

Design, Operating and Situational Inventory Trade-Offs

ToolsGroup

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. Many companies struggle with decisions such as “How many days of sales or inventory turns per year should we target? or “How can we reduce inventory and improve our balance sheet?”. Structural inventory is a direct result of design choices.

The Pros and Cons: International and Domestic Sourcing

Unleashed

It’s easy to oversimplify the differences between sourcing for parts locally or internationally. When considering where to purchase from, the prevailing idea seems to be that domestic sourcing allows for better control and shorter lead time, but international sourcing is more cost-effective. Let’s compare the strengths and weaknesses of both international and domestic sourcing options. International Sourcing. Reaping the benefits of international sourcing.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Source: Gartner Research. Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. Traditional ABC inventory models segment inventory into A, B and C categories based on annual consumption value. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best. Inventory Optimization

Consignment Inventory Management: The Complete Guide

EMERGE App

There are different ways for retailers to get and sell their inventory. The most common being where a retailer purchases their inventory and stocks it in their warehouse for the customers to buy. However, consignment inventory can be a risk-free option for the retailer.

Metrics that Matter: Inventory Effectiveness

QAD

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Inventory effectiveness measures the process that delivers the right part to the right place at the right time, while minimizing investment and meeting customer requirements. Best Practices for Inventory Effectiveness.

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.

2021 Strategies for Inventory Management and Supply Chain Recovery

EazyStock

Were any resources lacking to impede your response to the effects of coronavirus? Optimize Inventory. Start with a detailed overview of what inventory is currently in your supply chain. Next comes crafting an inventory management plan to mitigate your greatest risks.

Sales, Inventory & Operations Planning – What It Is and How to Operate

USC Consulting Group

Sales, Inventory & Operations Planning (SIOP) is a dynamic process in which the company’s operating plan is updated on a regular monthly or more frequent basis. The plans take into account projections made by the sales and marketing departments, the resources available from manufacturing, engineering, purchasing, and finance, and are directed toward hitting the company’s objectives. Objectives of Sales, Inventory & Operations Planning.

Solving Traditional Inventory Challenges with Online Inventory Control

Unleashed

Factors affecting inventory managament are becoming equally complex with multifaceted supply chains and vast networks of manufacturers, suppliers, distributors, wholesalers and retailers from which to source, distribute and sell products. Factors affecting inventory control. Inventory stock challenges range from longer, less reliable lead times to difficulty tracking inventory along the supply chain and across multiple warehouses.

What is Inventory Optimization?

EazyStock

What is inventory optimization? You’ve heard of inventory management, and you probably already have some inventory management practices implemented in your supply chain. So what is inventory optimization? According to Wikipedia, inventory optimization is: “a method of balancing capital investment constraints or objectives and service-level goals over a large assortment of stock-keeping units (SKUs) while taking demand and supply volatility into account.”.

Inventory Management vs Product Information Management (PIM)

Supply Chain Game Changer

The list is long: Inventory management is handled through your ERP Your product development team works through the PML Sales and marketing are housed in the CRM And it feels like half the company is still managing product data in spreadsheets. And, of course, inventory. Subscribe Here!

Sourcing Offices: a shift of paradigm

KEPLER Consulting

Over last decade, sourcing offices became a major piece within globalized footprint of western retailers. After a first era of development and opportunity catch up particularly positive and characterized by consistent purchasing gains , most of these Sourcing Offices are now searching for their second breath. Back to the origins, the Sourcing Offices have been developed by retailers for two main reasons: #1 Gather demands coming from various entities within a same group.

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

Requis

Sourcing has probably been the biggest thing over the last decade or two, coupled with that reduction in local manufacturing of course. Sourcing is now predominantly overseas: China is one of the big sourcing countries of course, along with India, Pakistan and Bangladesh, Vietnam and Thailand.

Inventory Visibility – Beyond ERP

TPSynergy

Inventory Visibility. Inventory is a key part of any business. Manufacturing, Distribution businesses depends on availability of correct inventory. Important feature of inventory is its visibility. If the inventory lies in a corner of the warehouse and not visible to Planners, it will add to inefficient resource utilisation. ERP and Inventory Visibility. Most of the business today, depends upon their In-house ERP system for inventory visibility.

Omni-Channel Logistics Leaders: The Importance of Real-Time Inventory Visibility

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: Top 5 Inventory Insights ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. Source: “Omni-Channel Logistics Leaders: Top 5 Inventory Insights,” Adelante SCM & LEGACY SCS.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

However, all are well worth employing to seek that holy grail of pushing out waste, inefficiency, and most importantly resources (time and money) out of your supply chain. Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. The distributor maintains the inventory plan.

New online insight hub revealed to increase intelligence resources for supply chain decision makers

EFT

The Insight Hub doesn’t just give us an opportunity, for the first time, to house all this industry leading content in one place, it also gives us the scope, resources and platform to create, commission and curate a far broader collection of business-critical intelligence than ever before. In addition, you can’t really understand the full picture of supply chain risk without listening to a webinar we ran entitled: COVID-19: Implications on Inventory Planning, Sourcing and Procurement.

4 Ways Sonus Improved Demand Planning and Reduced Inventory by 20%

Kinaxis

To combat its planning issues, Sonus took four steps to improve demand, reduce inventory, and share information better across the entire network. Sonus worked to seamlessly connect data from multiple sources, including traditional enterprise resource planning (ERP) software, existing Excel spreadsheets, and even its customer relationship management (CRM) tool.

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. Smarter resource allocation. Inventory ties up money.

Inventory Challenges Management 1: Supply Chain Complexity

EazyStock

Common Challenges of Inventory Management. Small- and mid-sized businesses (SMBs) must respond to external market pressures and are therefore up against a multitude of inventory management challenges. This post will look at the inventory management challenges surrounding supply chain complexity. Inventory Management Challenge 1: Supply Chain Complexity. Increased difficulty tracking inventory along the supply chain. Blog Inventory management

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.

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. If you are looking for warehouse cost reductions, chances are you are stocking too much inventory. Understand Data Integrity to Reduce Inventory Costs. Source: [link].

Lean 191

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. Nowadays it refers to inventory management software because computational power is needed to effortlessly calculate, for example, landed costs for purchases and CBM for your packing lists.

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. In this three-part blog series we’re looking at each of these inventory management problems. In this post we’re exploring how to manage inventory effectively when you’re faced with a growing product portfolio. Optimizing Inventory Levels as SKUs Grow.

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. What one can’t ignore, however, is all the external factors that also directly, and indirectly, affect inventory processes.

Your supply chain is costing you money – Reason #7 Making decisions based on bad data (supply chain data accuracy)

Kinaxis

Reason #6 Not effectively managing inventory. Having wasted time going to that store, I’d be less inclined to use that store in the future – at least I’d be much less likely to trust their website’s inventory. If the planned lead-time is longer than actual, you get excess inventories. Finally, inaccurate cost information may cause you to make incorrect sourcing decisions. On Hand Inventory quantity/status. by John Westerveld.

Japan 203

2019 Forecasting and Inventory Benchmark Study

Supply Chain Brain

What does best-in-class forecasting and inventory management look like? Now in its ninth year, E2open’s 2019 Forecasting and Inventory Benchmark Study is the most consistent, comprehensive and useful study of its kind. What’s more, the data from this study doesn’t come from surveys and questionnaires, it is sourced from real data from E2open’s diverse customer base.

4 Ways Big Data is Changing Inventory Management

EazyStock

Variety – The different forms of data sources. The analyzed data is gathered from a variety of sources, including both software and hardware, and is collected from devices all over the world, ranging from jet engines and heavy equipment to solar powered trashcans and electric toothbrushes. Big data exists in real-time and involves prompt access to data, alerts and inventory management and control metrics through cloud computing systems.

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?