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

GlobalTranz

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.

The 10 Procurement Metrics that Matter in 2021

Unleashed

In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. What is procurement?

DDOM Metrics: Using Data To Improve Your Demand Driven Model

Demand Driven Technologies

Source. Hm, seeing the visual illustrating this post I had some objections: is it really reasonable to represent the measures of a supply chain in the 21st century as following a normal law?

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.

Traditional Retail Performance Metrics Aren’t Measuring Up

Logility

It may not be the news you were hoping for, but traditional retail success metrics are fast becoming obsolete in today’s economy. The current suite of metrics were built for a time that no longer exists. Relying solely on traditional retail performance metrics won’t work.

Supplier Quality Management: What it is, 5 Key Metrics to Know & a 4 Step Supplier Evaluation Process

GlobalTranz

The next posts in the series will break down metrics and issues to consider in SQM by industry and conclude with a case study on the application of SQM. 5 Key Metrics to Use for Scoring Supplier Quality Management (From LNS Research ). The definition of this metric is similar to the way it sounds. Quality affects many different parts of the business, so it is critical to establish a comprehensive metric that provides visibility into the most important areas of operations.

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

GlobalTranz

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.

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.

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.

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.

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).

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?

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.

Podcast: Rob O’Byrne on Digital Transformation, Sustainability, and Diversification in Sourcing

Requis

Sourcing has probably been the biggest thing over the last decade or two, coupled with that reduction in local manufacturing of course. Sourcing is now predominantly overseas: China is one of the big sourcing countries of course, along with India, Pakistan and Bangladesh, Vietnam and Thailand.

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.

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. Learn about.

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Improving the Lives of Apparel Workers by Creating an Ethical Apparel Index

NC State SCRC

In the third research component, the EAI will be integrated based on inputs and metric insights (through a series of weights applied to the data) determined in the research. The EAI will provide a third-party metric to generate marketing media (e.g.,

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.

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.

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. Alex Saric, CMO, Ivalua.

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.

5 Ways Real-Time Freight Analytics Create Competitive Advantages

Turvo

Articles Analytics Data Freight Intelligence KPI MetricsOne of the most significant challenges the shipping industry faces is related to real-time freight analytics. With more competition and increasing customer demands, new and improved data analysis and response methods are needed.

The Reorder Point Formula: Everything You Need to Know

Unleashed

A carefully calculated reorder point is therefore critical to good stock control, and keeps your key metrics looking healthy for your next inventory report. This creates one source of truth for data and enables effortless data analysis and collaboration. Source from local suppliers.

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.,

What is SKU? A complete guide to Stock Keeping Units

Unleashed

For example SKUs in Unleashed are used in the Product Code field and can be added manually, or uploaded in bulk from an external source. Other useful SKU metrics. Understanding this metric helps you identify products that are soaking up costs sitting in your warehouse too long.

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.

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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.

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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.