Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

Five Things You Need to Know about Inventory Optimization in the Digital Age

ToolsGroup

With all the buzz around digital transformation, someone peering in from outside supply chain may assume most businesses have already digitized essential tasks like inventory planning. This article will share five things you need to know about optimizing inventory in the digital age.

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.

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.

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.

Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

3D printing and sustainability: less waste and carbon emissions from miles travelled

DiManEx

There’s a lot of buzz around 3D printing and sustainability these days. 3D printing and sustainability. This scenario incurs your company inventory, transport and scrapping costs, as well as waste. What we learned about 3D printing and sustainability.

When is Inventory Too “Lean”? Finding the Right Balance

ToolsGroup

But we have also seen companies misinterpret the lean message when it comes to inventory. It's good to trim bloated inventory and free up working capital. But inventory optimization can actually contribute to a lean environment.

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Profitable Sustainability Solutions for Supply Chains

Llamasoft

Many companies rightfully tout their sustainability initiatives, but supply chains continue to produce a significant amount of the globe's carbon emissions. The post Profitable Sustainability Solutions for Supply Chains appeared first on LLamasoft.

3 Uses of IoT Tech Spurring Sustainability in Supply Chains

Cerasis

IoT Tech is Driving Sustainability in the Supply Chain. But perhaps the most far-reaching changes will center around the use of large data systems to drive sustainability in logistics and supply chains.

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.

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.

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? Once implemented, Lean has to be sustained.

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What's wrong with ABC inventory classification?

ToolsGroup

ABC inventory classification has been around so long that most planners just assume it’s the only way to segment your inventory. Inventory Segmentation from the 1960s. To understand the shortcomings of ABC inventory classification, we need to understand how it is done.

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.

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. Of course, you need inventory. Inventory Optimization

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC.

World Class Inventory Turnover Breakthrough Elements! (Infographic)

Supply Chain Game Changer

Improving Inventory turnover performance is both a requirement and a challenge for many companies. We’ve written several blogs on this subject to share our experiences in achieving truly game changing results in inventory management. Subscribe Here! Email Address.

Are you paying attention to your inventory?

DELMIA Quintiq

In large part, it’s because many companies don’t pay the right kind of attention to their inventory. There’s a lingering belief that inventory is somehow unpredictable and behaves independently of the rest of the business. Base inventory on desired customer service levels.

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. Vendor Managed Inventory Model for Supply Chain Cost Reductions.

Double Inventory Turnover In 9 months!

Supply Chain Game Changer

Check out World Class Inventory Turnover Breakthrough Elements! “If we are truly a Supply Chain Services Company, then why is our Inventory Turnover only at 7?”, In that meeting I set the target … we needed to reach double digit Inventory turns within the next year.

Preventing 3 Common Inventory Control Issues

Unleashed

For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control , however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities and unhappy customers and product spoilage or dead inventory stock which will incur unnecessary costs and tie up storage space.

Inventory Turnover Breakthrough … Go Back To The Basics!

Supply Chain Game Changer

Check out World Class Inventory Turnover Breakthrough Elements! I had accepted a career changing challenge … how to change the company’s Inventory Turnover performance from being perennially worst in the Industry to being one of the best. Subscribe Here! Email Address.

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!

Inventory Turnover – A Formula For Achieving Game Changing Results!

Supply Chain Game Changer

As we have discussed in other blog posts we have tackled Inventory Turnover several times, amongst many other challenges. Your challenge may be trying to improve Inventory performance or trying to create a transformational improvement in some other area. Subscribe Here!

5 Benefits from Logistics Sustainability & Effieciency

Cerasis

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency. Many business owners fail to connect these two functions to logistics sustainability. Usually, sustainability is applied to ensuring operations do not negatively impact the environment.

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.

Why Have We Not Reduced Inventory?

Supply Chain Shaman

This year supply chain leaders will celebrate thirty years of progress in supply chain management; but we have not made progress on one of the funamentals: inventory management. Have the early adopters of inventory optimization seen a reduction in inventory on their balance sheets?”

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.

Struggling with Multi-Echelon Inventory Adoption

Arkieva

2006-2009 I did a PhD on Multi-Echelon Inventory Optimization. Though benefits are clear, multi-echelon inventory adoption has been very slow. Pilots within and across company boundaries have been convincing, but we have not seen a widespread multi-echelon inventory adoption.

Integrated Inventory Management Software and Accounting Software for Successful Business Growth

Unleashed

More than ever, competitive businesses are acknowledging the importance of adequate inventory control practices and appropriate management software, but the integration of accounting software with that of inventory management offers many advantages for better holistic business management. Providing visibility to the supply chain enables better inventory management by offering stock data to suppliers. The Impacts of Inventory Stock Discrepancies in Accounting.

Financial Benchmarking for Inventory Turns and Working Capital

Arkieva

Using so called orbit charts, we have benchmarked companies on EBIT% versus Inventory Turns. That benchmark helped to reveal the ‘best practice frontier’, which in turn helped in setting aggressive but aligned targets for EBIT% versus Inventory Turns.

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

Logichain Solutions

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 is generally also the area where the food industry has focused its sustainability efforts so far.

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How to Tackle the Challenges of Omnichannel Inventory

Unleashed

However, the evolution and implementation of omnichannel have brought many challenges to the management of inventory stock. Luckily, there are a few strategies that businesses can tap into to optimise inventory management. This segmentation can cause discrepancies with inventory stock across the business. Be proactive about finding an online inventory management solution before you implement another channel.

Lose the Excess Inventory

Blue Ridge

What do inventory management and weight loss have in common? Over the years, I’ve realized there are quite a few similarities between losing weight and properly managing inventory. At Blue Ridge, LifeLine is your partner for managing your inventory health. Jim Klekamp.

White paper: Inventory Management by the “Prevailing Winds”

Herlitz Inventory Management

How can you sustain profitable inventory levels when different departments have conflicting priorities? Inventory. The perceived result is the inventory reduction that the CFO needed, so he then moves on to “bother another department,” as Anders would say.