Metrics that Matter: Inventory Effectiveness

QAD

It is critical to monitor inventory effectiveness using five key metrics: Expedited orders, inventory turns, obsolete inventory, safety stock and stockouts. Using Metrics to Measure the Health of the Business. Companies use these metrics to minimize their investment in inventory without adversely affecting customer service levels. The absolute measure is less informative than the trend in the metrics. Tracking, Managing, and Choosing Metrics.

6 metrics tips and tools to benchmark P2P Digital Transformation

ivalua

Here’s a look at some of the Procure- to-Pay metrics procurement leaders should watch in order to better understand their digital progress. This metric closely aligns with digital transformation progress. This metric also impacts others like speed, visibility, and cost savings. . #2 Digital sourcing tools can help make this a more manageable metric. #3 Success in this metric also contributes to long-term vendor relationship management. #4

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3 Core Metrics & 10 Soft Metrics for Measuring Supply Chain Performance

Cerasis

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. 10 Soft Metric Considerations in Measuring Supply Chain Performance. Customer Service Levels : When it comes to how a shipper defines the value of a logistics provider or 3PL to the bottom line, there are often several Key Performance Indicators (KPIs) and Logistics Metrics taken into consideration.

Transportation Sourcing in an Omni-channel World

Talking Logistics

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? According to Joe, enVista’s Director of Transportation, “The key to omni-channel sourcing is that it requires you to understand your goals and objectives.

Metrics that Matter: Customer Service

QAD

Inventory accuracy and minimizing stockouts are very important to customer satisfaction, but a few other metrics also impact the ability to meet customer expectations. Companies can use these metrics to help ensure they are doing everything possible to satisfy their customers at a manageable and sustainable cost. Consider unreimbursed freight as an early warning signal, and then use these other metrics to pinpoint the sources of the problems. Choosing Metrics.

5 Quality Metrics Predicting The Future Of Manufacturing

IQMS

Bottom Line: Manufacturers are reaching a new level of results in 2018 because they have clearer, more actionable insights based on real-time manufacturing and quality metrics than ever before. Quality Metrics Enable Customer-Driven Manufacturing Networks. The future of manufacturing is being written today across the millions of shop floors which have chosen to excel at analytics, metrics and Manufacturing Intelligence. Quality Metrics Defining the Future of Manufacturing.

Rating Sustainability Performance: An Essential Business Metric

EcoVadis

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. The assessment methodology covers 21 CSR/sustainability criteria across four themes: environment, labour/social, ethics, and sustainable supply (relating to sourcing practices).

Outsourcing Sourcing! 5 Lessons from Around the Globe!

Supply Chain Game Changer

Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. But beyond that he had no idea on where to start to source his product. Large companies can afford to have Strategic Sourcing Procurement staff around the world. There are a myriad of processes, controls, conditions and situations that need to be managed to ensure that your products are sourced consistent with your expectations.

Elephant in the Room: Thoughts on Metrics That Matter in Semiconductor and Hard Disk Drives

Kinaxis

Supply Chain Insights recently published a Metrics That Matter report covering both the Semiconductor and Hard Disk Drive (HDD) industries. Semiconductor is poised to consolidate, which will have huge impact on the metrics. With China already a source for semiconductor raw materials and the China/India end consumer market growing, there will be pressure to supply chips and hard drives to local China/India OEM’s first. by CJ Wehlage.

Last Mile Metrics: 11 Metrics to Measure in Last Mile Logistics

Cerasis

Using technology to improve last mile metrics is essential to driving last mile costs down, but how do shippers know if the technology is helping or hurting? The answer to this question lies in using last mile metrics to track key performance indicators and target levels of service to ensure accountability, visibility and continued reduction of costs in last mile delivery. Essentially, shippers need to track these 11 metrics. On-Time Deliveries Are King of Last Mile Metrics.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

We consistently see that companies focused on functional excellence–a focus within a functional silo like manufacturing, transportation or distribution– or singular metrics– like inventory or costs– underperform against their peer groups. Reward teams for cross-functional metrics. We like the metrics of growth, on-time and in-full orders, operating margin, inventory turns, and Return on Invested Capital (ROIC).

Supply Chain Metrics: Make Sure They Are Aligned with Your Strategy!

Supply Chain View from the Field

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources.

Announcing the Supply Chains to Admire for 2019

Supply Chain Shaman

The source data for the analysis comes from Ycharts.). We selected these metrics based on correlation work with Arizona State University in 2012. The winners drove long-term value (measured by market capitalization) while outperforming on the portfolio of metrics shown in Figure 1 and driving improvement faster than their peer groups. The companies I work with struggle to set metrics targets. I watch the news channels on mute. The reason?

Guest Post: Ignoring this Performance Metric is Risky

TMC

For instance, when a disaster such as a hurricane, a labor strike, or a bankruptcy disables key suppliers, quick-moving enterprises are able to lock in alternative sources of supply before their rivals. There is growing interest in incorporating weather forecast data from a variety of sources into supply chain planning. The post Guest Post: Ignoring this Performance Metric is Risky appeared first on Connect Blog by TMC, a division of C.H.

Measuring Up?

Supply Chain Shaman

The supply chain is a complex system with finite, and non-linear relationships between supply chain metrics that drive balance sheet results. We find that companies can improve one, but not two of the metrics. Teams struggle to drive improvement in both metrics at the same time. In our recent analysis of supply chains that are “working well” , we find higher performance when companies have source, make and deliver reporting to the supply chain organization.

21 Vendor Metrics Your Supplier Scorecard Might be Missing

Supply Chain Cowboy

But is your scorecard missing key metrics? It includes a free Excel template that you can modify to match exactly what metrics you want to measure. While some of these metrics might not apply to your business model, there’s definitely a few to add if they measure something important to you and your customers. Of course, you’ll want to be courteous and professional with your feedback, but being open and honest with this metric can go a long way to solving problems between you.

Why Financial Reengineering Does Not Equal Supply Chain Improvement

Supply Chain Shaman

Financial reengineering focuses on the optimization of short-term results that are usually based on a functional analysis of source, make, or deliver. Few consultants understand the interrelationships between source, make and deliver. Snow fell last night as I worked on my last Supply Chain Metrics That Matter report. Ironically, most companies are very entrapped in measuring and rewarding functional metrics which degrades overall improvement.

A New Way of Looking at Manufacturing Metrics

synchrono

The metrics you use to manage your manufacturing operations need to matter, and they need to be actionable. For a detailed review of the operational metrics we recommend in a demand-driven manufacturing environment, refer to our Metrics for Action Guide. Conventional wisdom also says to keep the number of metrics you measure to a minimum. Measuring more than a select handful of metrics may not be realistic. We’re not suggesting you go wild with managing metrics.

Wanted: Supply Chain Architects!

Supply Chain Shaman

Much to my chagrin, when I entered into the world of supply chain, the processes of source, make and deliver were usually not designed. Instead, I think that it needs to be holistic to balance the trade-offs of source, make and deliver together. This is difficult for the average company since only one in two supply chains have source, make and deliver reporting through the same organization (reference Figure 1).

Public Markets Reward Supply Chain Alignment

Supply Chain Shaman

The relationship between corporate financial performance and supply chain metrics was complex; and in my first attempts, I was unable to derive a correlation. The year 2012 marked the 30th anniversary of the use of supply chain management as a cross-functional process for source, make and deliver in the commercial sector. I wanted to better understand which metrics truly mattered. The Metrics That Matter Are Different by Industry Sector.

Selling on Shopify for Beginners: Sourcing, Designing, and More

ShipBob

Source your products. Before you build an online store, you need to source your products. There are several avenues you can take to source products from working with local stores or suppliers to wholesale distributor options.

Understanding Supply Chain Management

SupplyPike

Five Key Metrics for Monitoring the Impact of Panic Buying on your Supply Chain. Supply Plan: The Supply Plan metric provides Walmart’s best guess on how many units it expects to order from a supplier. We offer deep insights into your On Time In Full performance, allowing you to trace your supply chain back to the source to find trouble spots. Our Retail Intelligence software allows you to view all sorts of metrics in easy to understand charts, maps, and numbers.

SCM 48

Manufacturing Gains From Machine Learning

IQMS

Source: Smartening up with Artificial Intelligence (AI) – What’s in it for Germany and its Industrial Sector? (52 Source: Technology and Innovation for the Future of Production: Accelerating Value Creation (38 pp., Source: Digital Factories 2020: Shaping the future of manufacturing (48 pp., Source: Smartening up with Artificial Intelligence (AI) – What’s in it for Germany and its Industrial Sector? (52 Source: Leveraging AI for Industrial IoT (27 pp.,

Establishing Procurement as a Competitive Advantage

ivalua

Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage. Then look at Sprint , where the handset division came up with the idea to effectively create their own marketplace for used handsets, configuring their sourcing product to run mass volumes of global forward auctions on used handsets to optimize the price received, generating over $1B in revenue in 2018.

Why Your Organisation Needs to Know the Difference Between KPIs and Metrics

Unleashed

With that, we know that Key Performance Indicators (KPIs) and metrics are important. The problem is that many organisations use the terms KPI and metrics interchangeably. Taking the time to separate your KPIs from your metrics will help give you a boost over on those who don’t know the difference. What’s the difference between KPIs and metrics? So, following this, at the highest level, KPIs are strategic whereas metrics are tactical. . Metrics.

KPI 48

Syndicated Data for CPGs

SupplyPike

Category Consistency: Application of OVT does away with almost 20% discrepancy between a category advisor’s custom hierarchy metrics and Walmart’s parameters of performance. Walmart has selected Nielsen for its source of POS data. Syndicated data, in addition to other sources such as customer loyalty data, retailer POS, and proprietary buyer surveys, assists Walmart in resolving commercial affairs. Retail + Analytics metrics retail analytics syndicated data walmart

Data 46

Blockchain’s Coming to the Supply Chain - Eventually

Supply Chain Brain

Sourcing/Procurement/SRM All Technology EDI Communication (XML/EDI) Global Trade Management SC Planning & Optimization Supply Chain Visibility Quality & Metrics Supply Chain Security & Risk Mgmt. When it comes to the deployment of blockchain in the supply chain, or anywhere else for that matter, these are still early days. The technology shows promise, but is far from fulfilling its touted role as an indelible system of record for transactions among supply-chain partners.

Why a Cashmere Sweater Can Cost $2,000 — or $30

Supply Chain Brain

Quality & Metrics SC Analysis & Consulting Global Supply Chain Management Apparel Retail All Technology Sourcing/Procurement/SRM Home Page Latest News Home Page Slider Featured ContentMade from the softest wool produced by certain breeds of goats, such as the Zalaa Ginst white goat and Tibetan Plateau goat, cashmere was once reserved for the wealthiest fashionistas. Napoleon Bonaparte’s wife helped popularize the fabric.)

What Blockchain Means to Supply Chain

Supply Chain Brain

Quality & Metrics Regulation and Compliance All Technology Big Data/IOT SC Finance & Revenue Mgmt. SC Planning & Optimization Sourcing/Procurement/SRM Supply Chain VisibilityBlockchain technology was created to support transactions involving Bitcoin and other cryptocurrencies. But it has quickly emerged from that dark and mysterious world to offer an invaluable tool for business in general, and global supply chains in particular.

Video 40

Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

SUMMARY: Because 4PL providers handle a company’s entire chain, including challenges that are thrown up by advances in technology, they are increasingly being favoured over third-party logistics (3PL) providers, especially by big companies with complex supply chains.

Ensuring Workers’ Rights in Global Supply Chains

Supply Chain Brain

Often it’s those deeper levels that are the source of violations or inadequate working conditions. Regulation and Compliance Quality & Metrics All Technology Supply Chain Visibility Sourcing/Procurement/SRMJust about every major manufacturer has a supplier code of conduct to ensure that workers are treated humanely. Too often, however, those documents fail to prevent unacceptable working conditions.

Made in “I Really Don’t Know”

Talking Logistics

As reported in USA Today : [In a sourcing practice nicknamed “China plus one”], big brands like Rip Curl send their specifications — what they want made and how much they’re willing to pay for it — to sourcing agents, who find factories that agree to fulfill them. no metrics, operate in functional silos). Therefore, the first step is to define those processes, along with who will execute and manage them and what the right metrics should be.

Where Will Companies Find Their Future I.T. Expertise?

Supply Chain Brain

It’s the model under which companies draw on talent from multiple sources, including in-house staff, outsourced services providers, and freelancers. Talent today comes from the source that meets a company’s needs of the moment. As with any supply chain, it all begins with the source. Quality & Metrics All Technology Sourcing/Procurement/SRM SC Planning & Optimization Home Page Latest NewsThe need for tech expertise is greater than it has ever been — and growing.

How Many Slaves Are in Your Supply Chain?

Talking Logistics

The company is also stopping production in Ecuador, Venezuela, Belarus and Pakistan by April 2014 (these countries scored low in a World Bank report that assessed countries on accountability, corruption, violence, and other metrics). The collapse of the garment factory in Bangladesh last week , which killed at least 705 workers and injured thousands of others, has put a spotlight on a problem that plagues many supply chains: the use of slave labor.

Manage and Share Your Sourcing Data Effortlessly with ASO: Data Warehouse

Jaggaer

One small mistake in examining or presenting data points within your sourcing activity could cost you. Businesses need a strategic approach to managing their sourcing data. Within your sourcing events there are dozens of data points you may consider, from pricing to risk level to bandwidth and schedule availability. Providing curated data to team members prevents them from becoming overwhelmed and allows you to focus the conversation on the exact metrics you want to address.