Silvon Software

APRIL 1, 2024

Business strategy solution jigsaw puzzle Today’s business applications are capturing, processing, and storing unprecedented volumes of data. Requests for custom reports or dashboards by business leaders are met with lengthy development times by IT or external analysts, resulting in single-use reports that are limited in scope.

Procurement Analytics 59

Procurement Analytics Analytics Software Predictive Analytics Analytics 59

Precoro

JULY 16, 2023

The purchasing department plays a critical role in the success of an organization. Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost.

Pricing Training 72

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 72

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

QAD

JULY 1, 2021

What are Total Manufacturing Costs? Your total manufacturing costs are essentially an expense analysis that calculates how each of your company’s departments contributed to producing a finalized product. Total manufacturing costs showcase how much your company spent to produce its inventory in a given period of time.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 98

Unleashed

OCTOBER 23, 2023

Production planning is where you map out how your business will operate – the resources, strategies, equipment, and labour required to hit your production goals. Production planning is the process of developing a strategy for the production of a company’s products and services.

Waste Reduction 98

Waste Reduction Resource Reduction Inventory Reduction Material Savings 98

GlobalTranz

APRIL 25, 2016

The average Supply Chain management professional measures their Supply Chain by reviewing cost reduction. Is cost reduction all that there is in measuring Supply Chain performance? 3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. Cost reduction is still very important.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

Unleashed

JULY 23, 2023

KPIs in manufacturing are quantifiable production metrics used by manufacturers to measure production performance over time. The result is a constantly improving business strategy that minimises time and material waste while maximising workplace productivity. As a metric, it’s the time you budget to manufacture each part or component.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

Precoro

NOVEMBER 13, 2023

However, only 30% of CPOs claim they have achieved their cost-saving targets in 2023. One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. Why Is Purchase Price Variance Important?

Purchasing Skills 83

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 83

Silvon Software

APRIL 18, 2024

Insights gleaned from robust data analytics enable core business areas to identify opportunities for risk reduction, enhance operational efficiencies, and foster strategic initiatives that drive business growth. This reduces the need for manual mapping of data fields, which can be error-prone and time-consuming.

Manufacturing Procurement 59

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 59

Unleashed

DECEMBER 28, 2021

One major aspect of running a lean business is reducing inventory – that is, a reduction in the amount of inventory your organisation keeps on hand at a given time. In this article we outline the 15 best methods you can use to reduce inventory: Why do businesses reduce inventory? Some higher costs.

Inventory Reduction 86

Inventory Reduction Cost Reduction Strategies Waste Reduction Expense Reduction 86

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 Shaman

DECEMBER 15, 2022

When reviewing strategy decks for supply chain teams, I often see statements like “move from a functional-silo’d focus to a drive a more holistic response.” ” Or “push a shift from a focus on cost to drive value?” Functional Metrics. ” Sound familiar? Organizational Alignment 2012.

Manufacturing Procurement 394

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Procurement Analytics 394

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

Precoro

MARCH 30, 2022

Strategic Procurement Helps a Business Unleash its Potential. As The Hackett Group discovered, approaching procurement strategically with specific business goals in mind helps achieve a significantly higher ROI. Operational efficiency and cost reduction are among the top procurement priorities for CPOs, according to Deloitte.

Vendor Strategies 52

Vendor Strategies Sourcing Strategies Cost Reduction Strategies Price Reduction 52

ShipBob

OCTOBER 4, 2023

However, good inventory management also requires strategic inventory reduction instead of simply procuring more goods. This post serves as a comprehensive guide on inventory reduction so you can understand what it is and why it’s needed. You’ll also learn some effective strategies on how to reduce inventory levels to save costs.

Inventory Reduction 52

Inventory Reduction Waste Reduction Cost Reduction Strategies Expense Reduction 52

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

Unleashed

DECEMBER 15, 2021

Here explain what DSI is, how to use it, and why it’s crucial to track this metric in your business – whether you’re a retailer, manufacturer, wholesaler or distributor. The next figure you need to calculate is COGS, which is a metric that relates to the direct costs of a product that a business sells.

Procurement Analytics 98

Procurement Analytics Inventory Reduction Metrics Inventory 98

Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Silvon Software

SEPTEMBER 26, 2023

Fortunately, modern analytic tools like Silvon’s Stratum solution offer pre-defined metrics and data visualization capabilities to simplify the process of creating and sharing KPI dashboards and reports to management and departmental teams throughout the business.

Procurement Analytics 105

Procurement Analytics Optimal Sourcing Manufacturing Procurement Inventory Reduction 105

ShipBob

NOVEMBER 22, 2021

Accurate analytics can be the roadmap to your business’s success. Otherwise, you won’t know whether your existing strategies and processes are working or if your financial investments are yielding sufficient returns. That’s why ecommerce analytics are vital if you want your DTC brand to grow. What is ecommerce analytics?

Procurement Analytics 98

Procurement Analytics Analytics Software Analytics Optimal Sourcing 98

SCMDOJO

AUGUST 4, 2023

If so, then it’s time to consider the numerous benefits of reducing inventory. In this article, we’ll explore seven compelling reasons why you should reduce inventory and how it can be a game-changer for your business. In some cases, inventory levels can see an increase to save costs, increase profit, and more.

Inventory Reduction 98

Inventory Reduction Material Savings Cost Reduction Strategies Waste Reduction 98

Unleashed

JANUARY 25, 2023

In these tricky times, smart cash flow management strategies are essential to bring down costs (or push profits) in controllable areas, offsetting international instability. Cash flow management is the process of analysing your company’s finances, predicting future changes, and using this data to guide financial decision-making.

Material Savings 98

Material Savings Inventory Reduction Price Reduction Cost Reduction Strategies 98

ShipBob

DECEMBER 28, 2022

Before you leap into the sourcing process, it’s important to have a strategy in place. Strategic sourcing is a unique purchasing method that aligns your sourcing strategy with your business goals. What is procurement? This process is known as procurement. What’s the difference between procurement and sourcing?

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

Precoro

FEBRUARY 26, 2024

For procurement professionals, systemizing and optimizing cost centers is not just a matter of financial management; it's a strategic task for driving efficiency, controlling costs, and enhancing overall performance. In this article, we delve into the intricacies of cost centers and explore strategies for improvement.

Optimal Sourcing 80

Optimal Sourcing Cost Reduction Strategies Optimization Software Negotiating Skills 80

SYSPRO Smarter ERP

JULY 12, 2022

As supply chain disruptions continue the procurement function should adapt to improve transparency, build collaborative relationships, and ensure sustainable sourcing practices, resulting in a stronger, more resilient supply chain with Cloud ERP for manufacturing. However, as teams become remote manual procurement has hampered operations.

Manufacturing Procurement 105

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement Solutions 105

Unleashed

SEPTEMBER 28, 2023

We’ll cover the definition then break down some effective dead stock analysis, dead stock liquidation, and dead stock accounting strategies. This has the potential to create storage and logistic problems that result in increased carrying costs. Dead stock also costs money to keep in storage. Let’s dive in.

Material Savings 52

Material Savings Inventory Reduction Price Reduction Cost Reduction Strategies 52

OptiProERP

NOVEMBER 3, 2022

Forty-two percent of SMBs consider digital transformation a central part of their organizational strategy. Developing an Effective Digital Transformation Strategy. A digital transformation strategy is a detailed plan to improve business operations. Define Metrics to Measure Success. But where do you start?

Sourcing Strategies 52

Sourcing Strategies Inventory Reduction Cost Reduction Strategies Waste Reduction 52

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. Office supplies would be an example of indirect procurement.

Manufacturing Procurement 78

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 78

SCMDOJO

JUNE 6, 2023

It helps reduce costs, increases efficiency, and can enhance customer satisfaction. Supply chain optimization can achieve this with the help of data analytics. Data analytics helps businesses make data-driven decisions and initiatives. How does data analytics help supply chain optimization? Why is it crucial?

Optimal Sourcing 72

Optimal Sourcing Modeling Supply Chain Optimization Analytics Software 72

EazyStock

MARCH 14, 2023

The right purchasing and logistics strategies give companies an edge during these unique, uncertain times and, during the return “to normal,” a greater competitive advantage and continued growth. There are several advantages to keeping inventory costs down and lowering inventory value.

Inventory Reduction 52

Inventory Reduction Price Reduction Cost Reduction Strategies Waste Reduction 52

ThroughPut

DECEMBER 8, 2023

If there’s any piece of technology or analytics that can help with the most advanced data-driven decision-making in the supply chain right now, that’s prescriptive analytics. It is the most promising form of analytics in the market currently. What Is Prescriptive Analytics in Supply Chain? How should the supplier perform?

Prescriptive Analytics Software 52

Prescriptive Analytics Software Optimal Sourcing Modeling Procurement Analytics 52

GlobalTranz

JUNE 4, 2015

In the first post our long tme guest blogger, Chuck Intrieri of The Lean Supply Chai n, gave us 5 core metrics to evaluate supplier performance using supplier quality management and a 4 step process to execute. Review of SQM Metrics and Issues Across 5 Core Industries. #1: Trend Metrics Collected per Site. Medical Devices.

Procurement Analytics 120

Procurement Analytics Metrics Quality Material Savings 120

Supply Chain Shaman

JULY 25, 2021

of revenue on IT solutions and expensive solutions to improve performance, yet degrade balance sheet results against peer group sectors in tough markets? In general the ERP technology providers underperformed, and the investment was an opportunity cost to the adoption of new forms of analytics and building effective business networks.

Procurement Analytics 370

Procurement Analytics Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Planning Software 370

Supply Chain Game Changer

MARCH 26, 2021

5 Insights for Managing Your Fleet Strategy! Fleet management costs article and permission to publish here provided by Bryan Christiansen. If an organization finds a way to reduce operational costs, it can lead to savings that apply directly to the bottom line. And unexpected breakdowns are very expensive.

Cost Reduction Strategies 98

Cost Reduction Strategies Expense Reduction Resource Reduction Price Reduction 98

ShipBob

APRIL 15, 2024

That’s why you need to closely measure metrics such as gross margin return on investment (GMROI). Specifically, GMROI measures how much profit you generate from every dollar you invest in your inventory purchases. This metric doesn’t just account for the cost of buying inventory.

Inventory Reduction 52

Inventory Reduction Material Savings Price Reduction Cost Reduction Strategies 52

Unleashed

FEBRUARY 22, 2023

Below are seven effective strategies for improving your cash flow management during a crisis. Efficient cash flow management is about ensuring you always have enough money to cover expenses. Times of crisis often lead to supply chain disruptions, reduced workforces, and longer lead times. Below are seven strategies to consider.

Inventory Reduction 52

Inventory Reduction Expense Reduction Cost Reduction Strategies Price Reduction 52

My Office Apps

OCTOBER 21, 2024

Strong vendor relationships are critical for business success, especially when it comes to managing inventory and procurement. Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes.

Vendor Strategies 78

Vendor Strategies Procurement Solutions Supply Chain Planning Software Optimization Software 78