COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. Visibility is the centrepiece … not only in terms of where my inventory is, in which channel, and where to move it, but also in consumer demand, and how can I be ahead of that game and forecast the demand?”

Process Based Inventory Turnover Improvement!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory management is a critical area for most companies. Too much inventory, especially the wrong inventory, can negatively impact cash flow, return on investment, customer satisfaction, and profitability.

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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. Colin: How do inventory optimization (IO) and multi-echelon inventory optimization (MEIO) enable manufacturers to operate more efficiently? IO uses powerful analytics to generate the right inventories to meet demand, address demand volatility, and achieve targeted service levels.

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. Colin: How do inventory optimization (IO) and multi-echelon inventory optimization (MEIO) enable manufacturers to operate more efficiently? IO uses powerful analytics to generate the right inventories to meet demand, address demand volatility, and achieve targeted service levels.

How Sustainability Will Fundamentally Change Your Supply Chain

Supply Chain Nation

As buyers have more access to information, companies won’t have a choice on whether to focus on a sustainable operation or not; it will be as baseline an expectation as one-day-delivery. This touches almost every aspect of supply chain in every industry: from ethical sourcing to incorporating recyclability into the design, to biodegradable packaging materials, to end-to-end supply chains that can lower waste, buffer, and excess and obsolete inventory.

Sustainability: A Fresh Opportunity for Convenience Stores

Supply Chain Nation

How can convenience store owners and managers contribute to sustainability — and increase their own profits? As one of the fastest-growing sources of fresh and prepared foods, convenience stores can play a critical role in supporting sustainability. Adding a sustainability initiative to this mix may seem impossible. To Sustainability and Beyond. The post Sustainability: A Fresh Opportunity for Convenience Stores appeared first on Supply Chain Nation Blog.

The Science of Sustainable Supply Chains (Guest Post by Dara O’Rourke, UC Berkeley)

SCM Research

In his recent Science article, The Science of Sustainable Supply Chains, Dara argues that the field of supply chain management needs to significantly improve and integrate sustainability measurement systems and decision-support tools. The science of sustainability measurement has progressed alongside efforts to advance supply chain traceability, impact assessment, and aggregation of data into sustainability indicators. The Science of Sustainable Supply Chains.

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.

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. Inventory Management is about having a right balance of expectations from different functions of the supply chain. Inventory Management is a function that should always be in sync with your supply chain strategy and in turn depends on your overall business strategy. What does it mean for inventory?

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

Today I will discuss how a company can sustain a lean culture once they have implemented lean practices in order to achieve continuous improvement. Your company has started the lean journey, but how do you sustain it? Let's first talk about first setting the stage, then give you practical practices and tactics to achieve a sustainable lean culture, and then provide core key performance indicators (KPIs) to track your progress. Once implemented, Lean has to be sustained.

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Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. I believe that you're going to see sustained push to e-commerce. Inventory management, evolved.

4 Reasons Sustainability is a Major Focus for Fresh Retailers

Supply Chain Nation

As sustainability becomes increasingly important to many consumers, grocery retailers are challenged with how to keep up with these modern customer demands. In the video blog below, Fab Brasca, JDA’s GVP Solutions Strategy, explains how buyer behavior can be better supported through machine learning and artificial intelligence in direct response to sustainability. The post 4 Reasons Sustainability is a Major Focus for Fresh Retailers appeared first on Supply Chain Nation Blog.

Sustainability: A Fresh Opportunity for Convenience Stores

Supply Chain Nation

How can convenience store owners and managers contribute to sustainability — and increase their own profits? As one of the fastest-growing sources of fresh and prepared foods, convenience stores can play a critical role in supporting sustainability. Adding a sustainability initiative to this mix may seem impossible. To Sustainability and Beyond. The post Sustainability: A Fresh Opportunity for Convenience Stores appeared first on Supply Chain Nation Blog.

What Does It Take To Make Sourcing Truly Strategic?

USC Consulting Group

Marketplace pressures have forced procurement professionals to abandon traditional sourcing practices and implement more responsive strategies designed to promote organizational efficiency, agility and flexibility for growth, not to mention cost reductions. For businesses on the outside looking in, it might be difficult to understand how strategic sourcing differs from other long-established procurement practices. Unfortunately, quick wins do not translate to sustainable success.

The View from Finance: Freeing Up Cash with Inventory Optimization

ToolsGroup

Inventory optimization is one proven way to do it. Inventory is an untapped, cash-rich asset. Most companies have some form of supply chain systems to manage inventory from production through delivery. Home Depot executives, speaking at an analyst meeting, once said that every 1/10th improvement in their inventory turns meant an additional $200 million in cash. Of course, you need inventory. Inventory is what you make, what you sell.

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.

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. With continuously shifting consumer preferences and brands around the world rushing to deliver delicious new options for alcoholic beverages, The Absolut Company has been able to navigate the increased complexity while staying true to its heritage and commitment to quality and sustainability. Blog Demand Planning Inventory Optimization Supply Chain Planning Featured

5 Ways Fashion Supply Chains Can Be More Sustainable

Elementum

And it's why more people are asking clothing companies to look deep into their supply chains and dig out the weeds: 66% of Millennials say they’re willing to pay more for products that are sustainably produced, and 37% of people are willing to switch to another brand if it provides more transparent labelling than their current brand. But achieving sustainability depends on removing these barriers to communicate standards and best practices?—?from 5 Ways to Achieve Sustainability.

5 Ways Fashion Supply Chains Can Be More Sustainable

Elementum

And it's why more people are asking clothing companies to look deep into their supply chains and dig out the weeds: 66% of Millennials say they’re willing to pay more for products that are sustainably produced, and 37% of people are willing to switch to another brand if it provides more transparent labelling than their current brand. But achieving sustainability depends on removing these barriers to communicate standards and best practices?—?from 5 Ways to Achieve Sustainability.

What is Vendor Managed Inventory? How to Make VMI Work

My Office Apps

What is Vendor Managed Inventory? Looking to streamline your supply chain and reduce inventory costs? You might want to look into Vendor-Managed Inventory (VMI). Vendor Managed Inventory is a business arrangement where the vendor of a product takes responsibility for making sure the buyer has the agreed inventory. Lean inventory levels – VMI allows your vendors to supply in-demand goods at the right time. The post What is Vendor Managed Inventory?

4 Challenges in Starting and Sustaining a SIOP Business Process

Supply Chain Game Changer

A Sales, Inventory and Operations Planning (SIOP) business process is an essential element for running a successful business. SIOP will allow you to improve your forecasting, capacity and resource planning, cash flow, and inventory levels. If the benefits are so clear why is it so difficult to get SIOP going and then to sustain it? And once it is started the forces that make it difficult to start can continue to make it challenging to sustain it. Subscribe Here!

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

As a supply chain expert and value creation supply chain consultant myself, I believe I have identified some core areas that will lead to desired supply chain cost reductions that are both sustainable and realized quickly. 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.

Supply Chain Alone Can’t Solve Sustainability But it Has a Part to Play!

Supply Chain Game Changer

Around the world, people are demanding more from their governments, business communities, and their fellow consumers to help create a more sustainable future. Companies have realized that big data allows them unparalleled insight into the best ways to source raw materials and products, and the best ways to move those products to consumers – and Supply Chain Management has become a key strategic differentiator in a number of industries. Subscribe Here! Email Address.

Understanding the Key Factors Affecting Inventory Control for eCommerce Businesses

Unleashed

The nature of online businesses is significantly different in scale and operations to traditional retail outlets and as a result the scale of inventory stock can range from small home storage to vast, multiple warehouses facilities. Regardless of whether it’s a multichannel business, its size or nature of the business, it is essential to keep accurate records and track all the inventory stock items. Overselling inventory stock. Online inventory control systems.

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].

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Is it REALLY organic? Sustainable farm to fork supply chain.

Logichain Solutions

Is it locally sourced or imported? Organic food companies need to go beyond just the product; they also need to ensure that the entire farm to fork supply chain is sustainable. One of the biggest contributors to a sustainable supply chain is the sourcing of products.

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4 Reasons Sustainability is a Major Focus for Fresh Retailers [Video]

Supply Chain Nation

As sustainability becomes increasingly important to many consumers, grocery retailers are challenged with how to keep up with these modern customer demands. In the video blog below, Fab Brasca, JDA’s GVP Solutions Strategy, explains how buyer behavior can be better supported through machine learning and artificial intelligence in direct response to sustainability. Supply Chain fresh retailers grocers grocery series sustainability Video blog

Your Supply Chain to Increase Efficiency and Sustainability

ThroughPut

Reassess Your Supply Chain to Increase Efficiency and Sustainability. Sustainability is a philosophy, not an endpoint. Companies should always be striving to become more efficient and less wasteful instead of assuming they’re already as sustainable as they want or need to be. Assess Supply Chains in Real-Time Everyone wins when supply chains become more sustainable, but doing so requires a conscientious effort.

Your Supply Chain to Increase Efficiency and Sustainability

ThroughPut

Sustainability is a philosophy, not an endpoint. Companies should always be striving to become more efficient and less wasteful instead of assuming they’re already as sustainable as they want or need to be. Everyone wins when supply chains become more sustainable, but doing so requires a conscientious effort. Sourcing and procurement departments exist to mitigate this issue, but input bottlenecks remain common.

Reassess Your Supply Chain to Increase Efficiency and Sustainability

ThroughPut

Sustainability is a philosophy, not an endpoint. Companies should always be striving to become more efficient and less wasteful instead of assuming they’re already as sustainable as they want or need to be. Everyone wins when supply chains become more sustainable, but doing so requires a conscientious effort. Sourcing and procurement departments exist to mitigate this issue, but input bottlenecks remain common.

Addressing sustainability threats to coffee supply chain using low-code technology

TrackVia

Volcafe Way is a sustainable sourcing strategy created to radically transform coffee production. They work directly with coffee farmers to assist and train them in sustainable production techniques and good agronomy practices, focusing on making the best use of their land for future generations. How Volcafe is improving farm practices, increasing productivity, and delivering higher quality. Since 1802, ED&F Man’s coffee business, Volcafe , has been trading coffee.

7 Key Factors that Underpin the Success of your Inventory Optimization Initiative

Supply Chain Opz

From the most basic to the most advanced organization, Inventory Optimization is a critical goal and one which underpins the effectiveness of the supply chain operation. Inventory Optimization requires an organization to sustain and maintain the right mix of cost versus service. In this article we will examine inventory optimization processes as part of a structured sequential journey and examine seven of the key factors in delivering the optimal mix of stock.

Is it REALLY organic? Sustainable farm to fork supply chain.

Logichain Solutions

Is it locally sourced or imported? Organic food companies need to go beyond just the product; they also need to ensure that the entire farm to fork supply chain is sustainable. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Here are some key factors organic food companies need to consider to ensure a sustainable supply chain: Sourcing.

Food 40

Is it REALLY organic? Sustainable farm to fork supply chain.

Logichain Solutions

Is it locally sourced or imported? Organic food companies need to go beyond just the product; they also need to ensure that the entire farm to fork supply chain is sustainable. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Wherever possible, food, ingredients, and packaging should be sourced locally. However, it is not always possible to source all ingredients locally.

Food 40

Is it REALLY organic? Sustainable farm to fork supply chain.

Logichain Solutions

Is it locally sourced or imported? Organic food companies need to go beyond just the product; they also need to ensure that the entire farm to fork supply chain is sustainable. This includes fair sourcing, being a good steward of all resources, minimizing the carbon footprint, and using recyclable / compostable packaging. Wherever possible, food, ingredients, and packaging should be sourced locally. However, it is not always possible to source all ingredients locally.

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