Precoro

OCTOBER 10, 2022

Keep reading to learn in detail about the top 13 most crucial procurement metrics, how to track them, and what to focus on to drive the most value to your company. How to measure: Calculate the ratio of your annual cost savings to your internal yearly costs of procurement. What Are Procurement KPIs, and Why Use Them?

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Manufacturing Procurement Procurement Solutions 52

ivalua

SEPTEMBER 10, 2019

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

Negotiate Pricing 140

Negotiate Pricing Metrics Supply Chain Software Benchmarking 140

Unleashed

MAY 9, 2024

Efficiency focuses on improving metrics like machine uptime, cycle time , defect rates, and utilisation of labour and equipment. Productivity metrics may include units produced per hour, revenue per employee, or output per unit of input. These provide insights into different aspects of production, quality, and resource utilisation.

Manufacturing Procurement 52

Manufacturing Procurement Waste Reduction Resource Reduction Inventory Reduction 52

Logility

AUGUST 7, 2017

Often, it becomes necessary to reevaluate how supply chain performance is measured to ensure healthy operations. Ask yourself, “Are your supply chain metrics bogging you down?” However, companies often have too many independent metrics that can cause conflicts amongst competing supply chain functions.

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Procurement Analytics Metrics Gartner Supply Chain Planning Software 121

Unleashed

APRIL 18, 2023

The last of these can be achieved by tracking the right inventory metrics, analysing the results, and making data-driven optimisations. So, what are the ‘right’ inventory metrics, and how do you calculate them? In this inventory metrics guide What are inventory metrics? What are KPIs for inventory?

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Procurement Analytics Metrics Inventory Reduction Inventory 52

Kinaxis

DECEMBER 3, 2014

Over the next several weeks, I’ll outline these issues and discuss some ideas around how to avoid these practices. Reason #9 Relentless pursuit of one supply chain metric at the expense of other metrics. Why do companies focus on reducing a specific metric? Reason #8 Keeping supply chain information in silos.

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Expense Reduction Procurement Analytics Cost Reduction Strategies Metrics 250

SupplyPike

APRIL 7, 2020

We’ve discussed the basics of OTIF and the fundamentals of OTIF before, but we thought we’d drill down deeper into the individual metrics. First, we’ll start by reviewing the basic goals of OTIF, and then we’ll dive into each metric and the compliance issues of each metric. OTIF Compliance Issues: Collect Ready. Not In-Full.

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Metrics DC Supply Chain Design Software Shipping 79

Supply Chain Shaman

JANUARY 7, 2015

While Joe is trying to balance the feedback from Filipe and Frank, he is often asked to change his metric targets by his CFO named Lou. The book outlines how to drive a guiding coalition. It is for this reason, that I believe that the traditional SCOR Model metrics are problematic. Achieving Balance in Metrics.

Metrics 150

Metrics Agile and Lean Supply Chain Manufacturing Procurement Modeling 150

Arkieva

OCTOBER 11, 2017

The news story above made me think of several examples where a supply chain would use similar concepts to develop early warning metrics. How to Establish Early Warning Supply Chain Metrics was first posted on October 11, 2017 at 10:00 am.

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Metrics How To Supply Chain Supply and Demand 64

Unleashed

FEBRUARY 12, 2023

To stay on top of your financials, there are a few key cash flow metrics and KPIs you can track that will help you make the right decisions and avoid insolvency or liquidation. Learn more: Inventory Accounting: A Video Guide for Accountants & Advisors What are cash flow metrics? Why is it important to track cash flow metrics?

Procurement Analytics 52

Procurement Analytics Metrics Expense Reduction Inventory Reduction 52

Unleashed

APRIL 9, 2024

To measure how effective a company is at delivering complete orders on time, you can use the aptly named On Time in Full (OTIF) metric. This article explains what it is, how to measure and improve it, and how to improve your OTIF rate. OTIF vs OTD On Time Delivery (OTD) and OTIF are both order fulfilment metrics.

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Vendor Strategies Inventory Reduction Waste Reduction Cost Reduction Strategies 52

Unleashed

MARCH 9, 2021

That’s where Procurement Metrics and Key Performance Indicators (KPIs) come into play. Procurement metrics and KPIs allow organisations to measure results and guide best practice performance. In this post, we’ll unpack ten top procurement metrics and why they matter. Undamaged shipment rate. On-time delivery: all suppliers.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

Silvon Software

JUNE 23, 2020

As I mentioned in my previous post, Sales Dashboards – 16 Metrics for Manufacturers , a strategy for measuring business performance should also incorporate metrics that focus on the supply chain and other operational areas of the enterprise. Nevertheless, measuring supply chain performance is critical for a manufacturing concern.

Manufacturing Procurement 89

Manufacturing Procurement Metrics Gartner Supply Chain Planning Software 89

Logility

AUGUST 15, 2023

Smarter, Not Harder: How to Climb Every Peak in Supply Chain Planning Supply chain planning is like a grand mountaineering expedition. This broad spectrum must be captured fully, including metrics on energy consumption, water usage, and overall environmental impact,” explains Vethuizen.

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Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 130

Logility

MAY 18, 2020

When you define the outcomes you’re hoping to predict, whether it’s sales, equipment repairs, email sign-ups, or some other metric, you’re better able to understand the metrics that will get you to that point. We also suggest the following best practices as you’re building your predictive analytics system: Clarify your objectives:?When

Predictive Analytics 228

Predictive Analytics Analytics Software Predictive Analytics Software Procurement Analytics 228

Talking Logistics

NOVEMBER 2, 2016

Assuming you can start with a clean slate, are there any guiding principles to selecting the “right” metrics? One is they have way too many metrics. A lot of organizations leave out employee morale and they struggle with how to measure it,” says Minghini. “It Which supply chain metrics matter the most?

Metrics 100

Metrics Supply Chain Logistics Network Optimization Software Supply and Demand 100

Tive

SEPTEMBER 23, 2021

Of all the metrics associated with supply chains, OTIF -- on time and in full delivery -- is the ultimate measure of performance. OTIF is a metric that ties directly to trust in supply chain partnerships and most important of all, customer satisfaction.

Metrics 52

Metrics Supply Chain Software How To Supply Chain 52

Supply Chain Movement

DECEMBER 8, 2014

Supply Chain Metrics That Matter makes this truth clear enough with its thorough analysis of recent multi-industry performance trends. Supply Chain Metrics That Matter was written to guide businesses through the change process with a measurementbased outlook that will help any organization stand the test of time. Change can be risky.

Metrics 120

Metrics Supply Chain Design Software Gartner Supply Chain Design 120

Supply Chain Opz

AUGUST 3, 2014

Supply Chain Metrics are one of the most important best practices in supply chain management because " You can''t manage what you can''t measure ". However, under certain circumstances, metrics are not used or implemented properly. 2) Utilization Metrics : machine utilization is a classic example of this kind of metric.

Procurement Analytics 157

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Planning 157

QAD

JULY 1, 2021

Knowing how to calculate total manufacturing costs is incredibly important supply chain data. Finally, you need to know how to calculate total manufacturing overhead. Improving communication between departments and comparing metrics across them. Finally, you need to know how to calculate total manufacturing overhead.

Manufacturing Procurement 88

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 88

ShipBob

FEBRUARY 3, 2023

But how do you know if all that hard work is paying off? By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. Why are retail metrics important? What is a retail KPI?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

ToolsGroup

FEBRUARY 6, 2018

Financial executives measure inventory health with metrics like inventory turns because they view the firm from a financial viewpoint - such as how much working capital is being tied up. The IQR metric is a percentage of active inventory in the total stock. Without a clear goal, it feels like it is never right.”.

Inventory Reduction 159

Inventory Reduction Inventory Material Savings Gartner 159

Silvon Software

APRIL 18, 2023

While clearly important in today’s constantly changing business environment, so many companies continue to struggle with how to measure and improve their performance – grappling with questions like: Which metrics really matter? How do we get buy-in around the organization? Each requires its own portfolio of metrics.

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Inventory Reduction Sourcing Strategies Resource Reduction Material Savings 64

Supply Chain Shaman

OCTOBER 29, 2020

Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle. We do not know how to walk the talk. When It Comes to Cash-to-Cash, We Don’t Know How to Walk the Talk appeared first on Supply Chain Shaman. The post Collaboration?

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Optimal Sourcing Supply Chain Design Software Waste Reduction Inventory Reduction 236

Arkieva

MAY 12, 2021

A reoccurring challenge in comparing and combining diverse time series in demand forecasting is the “scale” – as it is in combining metrics. Tools of the Trade: How to Compare / Combine Diverse Time Series – “Normalizing” was first posted on May 12, 2021 at 8:04 am. This blog provides an example of one method called normalization.

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Forecasting Software Demand Planning Software Supply Chain Software Tools 129

Kinaxis

JUNE 22, 2015

This post will discuss some of the metrics and analysis tools that an inventory manager needs to identify risk and opportunities and to make intelligent decisions to optimize the performance of their inventory. The metrics you choose should answer the questions your organization is asking, without requiring additional analysis.

Metrics 100

Metrics Inventory Reduction Inventory Inventory Management Software 100

Supply Chain Game Changer

JUNE 8, 2022

With that being said, let’s look at how to get your target audience and establish customer loyalty. How to reach your target audience. How to build customer loyalty. How to measure customer loyalty. The post How to Build Customer Loyalty! Influencer marketing. Customer loyalty. Encourage customer feedback.

How To 116

How To Procurement Analytics Supply Chain Design Software Supply Chain Design 116

ToolsGroup

MARCH 3, 2022

How to Use Weather Analytics in Retail Forecasting. Targeting favorable weather time periods and regions/markets enable companies to capture sales from receptive audiences and improve ROAS (return on advertising spend) and other key metrics. The impact weather has on consumer demand will vary by product, time of year, and location.

Forecasting 156

Forecasting Forecasting Software Procurement Analytics Retail 156

Logility

JANUARY 26, 2017

The second part of Drucker’s quote, “if you can't measure it, you can't improve it,” really brings home the importance of having the right set of metrics. In the field of supply chain management, we have created an abundance of metrics and key performance indicators (KPIs). requires a different set of metrics.

Procurement Analytics 100

Procurement Analytics Metrics Supply Chain Planning Software Gartner 100

GlobalTranz

JULY 7, 2021

Depending on the needs, the 4PL can begin to offer other services that go beyond the typical definition of a 4PL, such as tracking transportation metrics and partner performance, which is where consulting starts to enter the layers of logistics when thinking about 3PL vs 4PL and beyond. 5PLs and the Rise of Transportation-as-a-Service.

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BlueYonder

JANUARY 18, 2024

For example, how long it takes to get an item back into stock after being returned is very rarely a considered metric for retailers. How To Maximize the Profitability of Returns The key to improving returns speed is to dynamically switch the logistics approach depending on the profitability of the item.

Logistics Network Optimization Software 56

Logistics Network Optimization Software How To Supply Chain Software Retail 56

crisp

OCTOBER 20, 2022

In this guide, we’ll show you what metrics those are, easy ways to find them, and how you can use them to accelerate your brand’s retail growth. Now that you know how to access your retail data easily and often, here are the metrics you’ll want to keep on hand: Velocity. Retail data: A brand’s greatest asset.

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Procurement Analytics Inventory Reduction Data Waste Reduction 98

ivalua

JUNE 11, 2021

Companies are being pressured on all sides to commit to Net Zero and CPOs should build their Net Zero goals by evaluating sustainability metrics into all aspects of their procurement decisions and processes. Now is the time to act, and to engage your supply chain on this important global issue. Sounds interesting? Sign up HERE.

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Logility

JULY 31, 2023

With these capabilities, businesses can focus on critical metrics and KPIs like demand forecast accuracy , inventory turnover, on-time delivery, order accuracy, total sales, gross margins, and working capital projections.

S&OP 130

S&OP Supply and Demand Supply Chain Planning Software Supply Chain Design Software 130

AIMMS

FEBRUARY 20, 2015

Interview with Lora Cecere, Founder and CEO of Supply Chain Insights and Author of Supply Chain Metrics that Matter ( published December 2014 ). Metrics that Matter became a three year research project. I realized that many organizations are very confused about metrics. Not looking at how they work together.

Metrics 120

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