Four Things You Probably Didn’t Know About Inventory Planning and Sustainability

ToolsGroup

You can’t scan the headlines without coming across an article or advertisement about sustainability, but there is precious little information about how supply chain planning software supports green initiatives. Here are just a few of the sustainability benefits.

Four Things You Probably Didn’t Know About Inventory Planning and Sustainability

Brookes Supply Chain Planning Blog

Supply Chain Planning inventory

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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.

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.

Five Inventory Optimization Secrets for Aftermarket Parts

ToolsGroup

It’s notoriously difficult to optimize inventory for aftermarket parts. Read on for our five inventory optimization secrets for aftermarket parts. Five Inventory Optimization Secrets for Aftermarket Parts. In a world of intermittent demand where service is king, understanding these points will help you chart your aftermarket inventory strategy. Sporadic demand and escalating SKU counts challenge distributors’ ability to economically carry the right inventory.

Manufacturing ERP Plays a Key Role for Sustainability

QAD

Sustainability has become increasingly important in recent years and is now a vital component of many organizations’ social, economic and environmental efforts. Other recent examples include Mercedes-Benz’s pilot project for using blockchain to track CO2 emissions and Perrier’s program winners for developing sustainable and circular packaging solutions. The Sustainability Movement in Business and Manufacturing. How Does an ERP System Support Sustainability?

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. It’s about learning to transition from long-held inventory systems and processes, having new conversations across logistics and sales, and the shifting role of supply chain planners. This article will share five things you need to know about optimizing inventory in the digital age.

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.

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.

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.

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 with today’s volatile demand (especially in omni-channel environments), a delivery model that doesn’t have an inventory buffer can turn out to be “just not in time.”. And we especially don’t want an environment where a shift in demand or a contraction in the business cycle leads to eating huge inventory losses.

Lean 216

Supply Chain Sustainability and Business Success

Enterra Insights

Some people view sustainability efforts as tree hugging idealism and some business executives perceive sustainability efforts as wastes of money. ” Christopher Martin ( @cleantechchris ) and Millicent Dent report all types of companies are profiting from pursuing sustainability. ”[2] They add, “It’s time to stop crediting corporate sustainability efforts as acts of altruism. ” The supply chain needs to be more sustainable.

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.

ERP Sustains Manufacturing during COVID-19

IQMS

Today, during the COVID-19 response, ERP is keeping entire industries in operation with its ability to sustain business operations through remote access, automated reporting, electronic data exchange, and real-time factory controls. The post ERP Sustains Manufacturing during COVID-19 appeared first on IQMS Manufacturing Blog.

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.

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. Tire giant Pirelli has attached sensors to its inventory that allow it to see where its tires are located and get an accurate idea of how many and what kinds of new units need to be produced.

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.

Lean 182

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. Nearly all traditional inventory management applications calculate safety stock for each individual SKU-Location combination. Inventory Segmentation Today. Inventory Optimization

5 supply chain management tips for retail for sustained profitability

6 River Systems

These are the two factors that are essential for the long-term sustainability of any retail business, and achieving them requires implementing smart supply chain management tips and strategies. Here are five supply chain management tips for the retail industry to bring in sustainable profits.

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.

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.

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.

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. Sustainable supply chain techniques within production, packaging, inventory, and transportation can have improvements that will positively impact sustainability initiatives and bottom Read More >>. The post Profitable Sustainability Solutions for Supply Chains appeared first on LLamasoft.

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. This has pushed inventory management far up the agenda for a host of companies seeking to properly get a handle on what is where in their logistics train and where problems the next blockage might occur. I believe that you're going to see sustained push to e-commerce. Inventory management, evolved.

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?

Speed up your eCommerce Business with Inventory Management Software

Vinculum

Inventory management plays a vital role in building a sustainable, scalable and profitable eCommerce business. No matter how expert you are, how bigger or smaller your business may be, what products you sell, or who do you serve, lack in your inventory management can bring bigger challenges in your business success. Thus, inventory Management Software is really an essential tool for your business to gear itself up. What is Inventory Management System?

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!

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.

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.

What are the 3 Decision Rules for Inventory Control?

Unleashed

Effective inventory control is a process. It involves many areas of an organisation and is a delicate balance between the three categories of inventory costs. As one of a business’ greatest assets, inventory is also the cause one of the hardest decisions manufacturers, retailers and eCommerce businesses have to make. Therefore, it is important to establish a set of guidelines to improve inventory decisions and optimise inventory control.

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. I think that it is time for us to take the litmus test and ask the hard questions, “Have our practices impacted days of inventory? Have the early adopters of inventory optimization seen a reduction in inventory on their balance sheets?” Ownership of Inventory as a Metric.