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Needs for efficient reverselogistics systems continue to increase as e-commerce claims greater market share, and as so many traditionally functioning businesses grow and inevitably incur increasing volume of returns. This presents opportunities for developing new revenue streams, an exciting challenge to logistics professionals.
We have also featured on our blog over 90 guest bloggers featuring voices from experts in all of the five main categories who have talked about such subjects as the Skills Gap, Reshoring, Technology, Innovation, STEM, the Maker Movement, Lean Manufacturing and Supply Chain, the Internet of Things, and much much more. What is 5S?
A “Don’t Touch” Strategy will Dramatically Lean out your Supply Chain! Eliminating all unnecessary touches and hand-offs enables Costco to run a very lean and efficient Supply Chain. Now a key metric to reflect how efficient Costco’s Supply Chain is would be inventory turnover. Subscribe Here!
Most definitions of disintermediation characterize it as the elimination of intermediaries, or “ cutting out the middleman “ Further consider that the “Wastes” associated with Lean thinking and principles include transportation, inventory, over production and motion amongst others. Why is this relevant?
These are the 10 most crucial metrics for SMEs – so you can get started on reducing inefficiencies and cutting costs. Using inventory performance metrics can lead to: Happier customers – who get what they want, when they want it, at the price they’re willing to pay. This is a great metric to track as it tells you your break-even point.
Big business are jumping on the bandwagon too – utilizing collaborative distribution, reverselogistics and cooperative sourcing to lower costs, improve efficiency and better optimize their supply chain. Now that may sound eerily familiar to some of you.
He explains, “The circular economy aims to eradicate waste — not just from manufacturing processes, as lean management aspires to do, but systematically, throughout the life cycles and uses of products and their components. There are a few ways companies are able to achieve this goal using reverselogistics and returns management.
With inventory management and other software features built for the wholesale environment, you’ll be able to work towards success in a number of ways: improved profit margins by holding a lean inventory, optimising inefficiencies to cut labour costs, better strategic decision making through data… the list goes on. split shipments). ?
Whatever your Industry you should be able to make comparisons to competitors, do benchmarking, and even compare yourself on key metrics across industries. Lean for instance is equally applicable in Supply Chain as it is in Manufacturing or anywhere else. And the reality is that Supply Chain must be cost-effective.
They began to shift from Just in Time (JIT) lean inventory to Just in Case inventory (JIC) — to minimize the chances of falling behind production schedules or running low on goods required to fulfill orders on time. Improve reverselogistic operations.
Reverselogistics. Once you have gathered the data relating to your customers’ needs, you should be able to see if a single logistics strategy will work for your entire customer base, or whether you need to take a segmented approach. Lean supply chain practices. Delivery service levels. Warehouse facilities and proximity.
Lead time is a vital business metric that directly impacts customer satisfaction, workflow efficiency, and delivery time accuracy. It’s a valuable metric for identifying bottlenecks, improving efficiency, and optimising specific operational steps. Accurate planning can prevent last-minute rushes and delays.
Balanced Scorecard: A system of performance measurement using a structured combination of metrics. D Days of Inventory: A metric revealing the average time a company holds its inventory (in days) before selling it. Heijunka: A lean supply chain and manufacturing methodology that forms part of the just-in-time philosophy.
If thats the case, you must implement a new suite of properly aligned metrics to monitor performance and progress towards your supply chain goals. Include Your New KPIs in Your Strategy Document Maybe you already have some supply chain KPIs , but are they aligned with your new strategy? Probably not.
In the face of geopolitical and macroeconomic headwinds, the companies that adopt it now will be better positioned to operate lean and resilient. AI inventory automation, in the form of affordable, high-speed autonomous robotic systems, has moved from experimental to essential.
You can’t create a truly Lean warehousing process if you don’t have effective processes to supply materials to the floor. Performance and diagnostic metrics will be collected & published. You must Continuously Improve Warehouse Operations daily. SKUs will be managed in a way to minimize handling: Use of task interleaving.
A carbon emissions reduction strategy must take all Suppliers into account, not just the impact from your in-house facilities. Further your Supplier selection and management plan must include reporting on environmental emission metrics along with reduction goals and performance tracking. Logistics/Link Supplier Selection/Management.
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