Logistics Viewpoints

MAY 11, 2023

The concept of digital twins has emerged as a powerful foundational tool to drive improvements in warehouse productivity and efficiency. In the warehouse context, a digital twin can be created to represent the physical layout, inventory, equipment, and workflows of a warehouse. Physical change (i.e.,

Modeling 270

Modeling Analytics Software Supply Chain Design Software Optimization Software 270

SCMDOJO

APRIL 4, 2023

Luckily, supply chain analytics is here to help! By harnessing the power of data and analytics, companies can uncover valuable insights into their supply chain processes, pinpoint areas in need of improvement, and make informed decisions that can boost their bottom line. Key Takeaways What is Supply Chain Analytics?

Prescriptive Analytics Software 111

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Supply Chain Design Software 111

Precoro

JULY 29, 2024

Procurement operations are no exception. In fact, 43% of GPOs that took part in the 2023 Global Chief Procurement Officer Survey cited overall procurement risk had increased significantly as compared to 20% in the 2021 study. Keep reading to learn: What is an online procurement system?

Procurement Solutions 82

Procurement Solutions Supply Chain Design Software Supply Chain Planning Software Inventory Management Software 82

Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 68

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 68

GlobalTranz

JUNE 14, 2017

The answer lies using these omnichannel supply chain metrics to carefully track and improve operations continuously. This is a simple key performance indicator (KPI), another name for metrics, to track. If vendors fall behind on this metric, you may need to re-evaluate your partnerships or expand your list of approved vendors.

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Procurement Analytics Omnichannel Metrics Supply Chain Design Software 191

Unleashed

SEPTEMBER 2, 2024

Purchase order (PO) systems are software tools that help you manage the end-to-end purchase order process. They streamline procurement workflows by automating key tasks such as purchase order creation, approval, distribution, and tracking. What is a purchase order system? How do purchase order systems work?

Procurement Solutions 52

Procurement Solutions Inventory Management Software Procurement Analytics Supply Chain Planning Software 52

ThroughPut

MARCH 27, 2024

Real-time visibility was lacking, be it in warehousing or transportation, due to which delivery delays were common. Besides, AI is helping retailers optimize inventory, warehouse and pricing. Intelligent Warehousing with AI Analytics AI-driven analytics optimizes warehousing operations helping improve storage space and efficiency.

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Unleashed

MARCH 5, 2024

This article explores the basics, before diving into common challenges and examples. Data insights: eCommerce automation software generates better reports in – less time – when compared with manual processes. But what does eCommerce automation look like, and how does it work? What is eCommerce automation?

Supply Chain Software 52

Supply Chain Software Procurement Solutions Examples Inventory Management Software 52

Enterra Insights

MAY 26, 2022

Although retailers still talk about the digital path to purchase as an alternative to the traditional shopping journey, the lines between paths to purchase have blurred. With all generations getting more comfortable on the digital path to purchase, most retailers have adapted to this new reality and are pursuing omnichannel strategies.

Procurement Solutions 130

Procurement Solutions Procurement Analytics Manufacturing Procurement Predictive Analytics Software 130

Logistics Bureau

AUGUST 2, 2021

On this blog and the one published by our sister company Logistics Bureau, we often receive questions relating to metrics suitable for monitoring procurement performance. To answer some of those inquiries, we decided to release the following brief overview of what we believe to be the most helpful procurement KPIs.

Procurement Analytics 98

Procurement Analytics Procurement Solutions Optimal Sourcing Procurement 98

ivalua

OCTOBER 8, 2021

During the pandemic, Procurement flexed its muscle, helping to mitigate supply chain disruptions and enable new channels for engaging with customers and fulfilling orders. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1. Decentralize Procurement. Rethink What’s Normal.

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Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

Jaggaer

MARCH 23, 2020

And most importantly, what augmented analytics can do for you. Read up on How Augmented Analytics Will Transform Your Organization: A Gartner Trend Insight Report. Analytics has been with us for some time – more than a couple of decades. And that, of course, includes procurement professionals.

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Procurement Analytics Analytics Software Procurement Solutions Optimal Sourcing 78

Unleashed

AUGUST 28, 2023

The cost of sales is an inventory accounting metric that measures the accumulated costs in getting finished goods to market. It represents your true cost of creating and selling a product. What is cost of sales? Cost of sales is the accrued total of all the costs of supplying a product.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Cost Reduction Strategies Examples 52

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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Unleashed

AUGUST 30, 2024

Managing a single warehouse can be a difficult task. When you expand to multiple warehouses or inventory locations, your challenges and risks begin to multiply. This article explores the ins and outs of multiple warehouse inventory management: the challenges, the advantages, and key best practices for doing it right.

Inventory Management Software 52

Inventory Management Software Inventory Reduction Inventory Management Warehousing 52

Unleashed

DECEMBER 11, 2022

Efficient warehousing is all about knowing what’s working, what’s failing, and what can be improved. When you measure and analyse the right warehouse KPIs, you can make better-informed business decisions based on real data. That’s why, with so many possible variables to track, it’s critical to know which metrics matter most.

Warehousing 98

Warehousing Inventory Reduction Cost Reduction Strategies Inventory Management Software 98

Unleashed

JUNE 13, 2024

A warehouse management system (WMS) is a powerful software tool that can help improve warehouse efficiency and reduce the cost of holding inventory. What is a warehouse management system? Warehouse management systems aim to streamline and optimise the daily running of a warehouse or distribution centre.

Inventory Management Software 52

Inventory Management Software Supply Chain Design Software Supply Chain Planning Software Analytics Software 52

Unleashed

JUNE 15, 2023

The Cost of Goods Sold formula is: Opening Inventory + Purchases + Production Costs – Closing Inventory = Cost of Goods Sold Below, we explain what the cost of goods sold (COGS) is, why it’s important for product businesses, and how to calculate COGS using the cost of goods sold formula.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Examples Cost Reduction Strategies 52

Unleashed

MAY 10, 2023

Learn more: Supply Chain Resilience: What it is & How to Boost it Robotic warehousing equipment is a common example of supply chain automation – but not all automations are physical tools. Supply chain automation enables instant data collection and report creation for evidence-based business decisions.

Supply Chain Software 52

Supply Chain Software Supply Chain Design Software Supply Chain Planning Software Inventory Management Software 52

GlobalTranz

JULY 19, 2016

percent annually, reports Jeffrey B. Meanwhile, the number of warehouses has not yet grown enough to accommodate the surge in order fulfillment and processing. Fortunately, shippers and warehouse managers who follow these best practices can improve production to meet the surging demand. Proactively Pull Orders as They Come In.

Warehousing 120

Warehousing Procurement Analytics Cost Reduction Strategies Expense Reduction 120

Precoro

SEPTEMBER 2, 2022

For some businesses – usually smaller or with a single-source purchasing flow – it may be sustainable to react to the immediate needs. However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. It can be raw materials or constituent components, for example.

Manufacturing Procurement 78

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 78

Unleashed

JULY 12, 2023

But too much inventory in the warehouse means higher storage costs, tied-up cash flow, and requires more resources to manage. And understanding the different kinds of inventory and how they impact inventory accounting is a crucial first step towards cost-saving inventory management.

Inventory Reduction 52

Inventory Reduction Examples Inventory Material Savings 52

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Unleashed

NOVEMBER 7, 2023

The goal is to connect these platforms in a way that allows customers to interact, browse, purchase, and receive products or services through a sales process that feels unified and cohesive. For example, Facebook Marketplace, Google Shopping, and a physical retail shop. She decides to purchase it online.

Inventory Reduction 52

Inventory Reduction Price Reduction Resource Reduction Cost Reduction Strategies 52

Logistics Bureau

OCTOBER 10, 2024

You can achieve the benefits by simply rearranging products – within existing storage media – to reduce travel distance for pickers in your warehouse. Product slotting is a warehouse term that involves placing products in optimal locations within a warehouse to enhance operational efficiency. What is slotting?

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Warehousing Cost Reduction Strategies Inventory Reduction Expense Reduction 72

Unleashed

SEPTEMBER 28, 2023

If you’ve ever had inventory sitting in the storeroom or warehouse unused, unsold, and taking up space – you’ve experienced dead stock. It represents lost revenue and increases your holding costs and opportunity costs. This can prevent the risk of dead stock by improving the accuracy of purchase orders to consumer demand.

Material Savings 52

Material Savings Inventory Reduction Price Reduction Cost Reduction Strategies 52

Ware2Go

APRIL 11, 2023

Learn how businesses of all sizes can help build a more sustainable eCommerce industry, with examples of environmentally friendly brands that are leading the way. Businesses are starting to take notice and more importantly, consumers are starting to notice and carefully consider the environmental impact of their online purchases.

Examples 52

Examples Sustainability Purchasing Skills Retail 52

QAD

JUNE 25, 2019

Managing inventory effectively is a delicate balancing act, affected by lead times, supply chain efficiency , demand variability, product complexity, product life cycles, warehouse space and practices, among other variables. Using Metrics to Measure the Health of the Business. Tracking, Managing, and Choosing Metrics.

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Procurement Analytics Metrics Inventory Reduction Inventory 111

QAD

JULY 1, 2021

Here’s a formula to calculate your total direct materials costs: Beginning Inventory + Added Purchases – Ending Inventory = Total Direct Materials Costs. Direct labor is simply the costs associated with paying people to create the product. Where can I improve processes or purchasing to wisely cut costs or time?

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 98

Unleashed

MARCH 2, 2022

Here we give you eight real-world examples of how businesses use Kanban, a popular lean tool that’s helped companies in a huge range of sectors improve efficiency – especially those in the manufacturing industry. Then, when the warehouse runs low in stock, it reorders from preferred vendors. What is Kanban?

Manufacturing Procurement 98

Manufacturing Procurement Agile and Lean Supply Chain Lean Examples 98

GlobalTranz

MAY 25, 2018

The internet allows for unlimited scalability and boosted efficiency in warehouse inventory management. The so-called “smart warehouse” takes advantage of these defining factors by connecting systems to streamline inventory management and overall productivity. Download white paper.

Inventory Management Software 125

Inventory Management Software Inventory Management Inventory Reduction Supply Chain Planning Software 125

Precoro

OCTOBER 2, 2023

The procurement landscape is ever changing, and recently, in contrast to the traditional procure-to-pay platforms, we have seen the emergence of a new type of software solution, intake-to-pay, which is marketed as a more comprehensive solution. But hold on: are we sure that wasn't all possible with procure-to-pay, anyway?

Procurement Solutions 59

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Design Software 59

The Logistics & Supply Chain Management Society

FEBRUARY 15, 2021

For example, companies can track products throughout the entire lifecycle with RFID and GPS sensors. Manufacturers can gather valuable granular data such as the time an item spent in storage, at what temperature, how long it took to sell, the length of time between purchase and fulfillment and how long it spent in transport.

Supply Chain Planning Software 298

Supply Chain Planning Software Supply Chain Software Prescriptive Analytics Software Predictive Analytics Software 298

ThroughPut

MAY 3, 2024

77% of the world’s largest ports are still facing backlogs, and that doesn’t just affect your logistics efficiency and costs, it impacts your entire supply chain and business. It’s not just about merely managing trucks and warehouses anymore; it’s about seeing the big picture (of your entire supply chain!)

Procurement Solutions 52

Procurement Solutions Logistics Network Optimization Software Supply Chain Planning Software Prescriptive Analytics Software 52

ShipBob

FEBRUARY 3, 2023

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. Why are retail metrics important?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

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. For example, when warehouse staffs pick the orders faster, cost per order can be reduced.

Procurement Analytics 157

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Planning 157

Unleashed

AUGUST 23, 2023

Warehouse management is the vital link between receiving goods from suppliers and delivering orders to your customers. In warehouse management, warehouse logistics ensures these processes are optimised to cut costs and boost efficiency. In this warehouse logistics guide: What is warehouse logistics?

Warehousing 52

Warehousing Logistics Network Optimization Software Supply Chain Design Software Inventory Management Software 52