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

ThroughPut

OCTOBER 10, 2024

As businesses globally focus on reducing lost productivity, costly downtime, and rising inventory expenses, effective spare parts management has become a top priority—especially for asset-intensive industries. This balance ensures that spare parts are always available for critical needs while reducing unnecessary inventory costs.

Inventory Reduction 52

Inventory Reduction Waste Reduction Supply Chain Planning Software Cost Reduction Strategies 52

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

Supply Chain Shaman

APRIL 16, 2024

Let’s start with definitions: Self Service Planning: Decision support technologies designed for business leaders to use analytic techniques on a collaborative platform to improve business planning. Outside-in Planning: Modeling based on channel and supply network signals. This week, I was at Informs Analytics Conference.

Supply Chain Planning Software 221

Supply Chain Planning Software Supply Chain Design Software How To Modeling 221

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

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

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

OCTOBER 4, 2023

The order fulfilment process covers every step required to get goods to the people who purchase them, from the moment a customer places an order to when they receive their purchase. But cost-saving isn’t the only benefit of an optimised fulfilment process. Order fulfilment vs. shipping: What’s the difference?

Inventory Reduction 52

Inventory Reduction Sourcing Strategies Resource Reduction Cost Reduction Strategies 52

Synovos

APRIL 2, 2024

What is MRO procurement? Understand MRO procurement and your bottom line will benefit. Here we explore why the MRO supply chain is so significant and how better management of the entire MRO purchasing process can drive valuable cost savings and efficiency gains. Why is handling MRO procurement so costly?

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Manufacturing Procurement Procurement Analytics 52

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

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

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

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

Supply Chain Matters

APRIL 14, 2023

As Supply Chain Matters has frequently observed, considerable profits generated by the AWS unit helped to offset investments and operating expenses from the worldwide retail business unit. That led to the decision to eliminate upwards of 27,000 corporate roles. Included are structural changes around the organization of the U.S.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Expense Reduction Price Mitigation Strategies 52

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

Logistics Viewpoints

MAY 19, 2022

He had a load full of cotton bales, and while idling away hours at a shipyard watching stevedores load other cargo onto ships he dreamed up containers that transformed global supply chains. Containerization eventually reduced shipping and loading costs by at least 75%. The myth of the “perfect plan”.

Optimal Sourcing 260

Optimal Sourcing Modeling Supply Chain Optimization Optimization Software 260

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

SCMDOJO

NOVEMBER 9, 2023

The primary goal of inventory control is to reduce the costs associated with holding stock. This is achieved by helping business owners determine the right time to restock their items or purchase materials for production. Furthermore, implementing the right Inventory Control Techniques can help reduce storage costs.

Inventory Reduction 105

Inventory Reduction Expense Reduction Cost Reduction Strategies Optimal Sourcing 105

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

SCMDOJO

SEPTEMBER 24, 2024

It helps businesses decide whether to produce goods internally (make) or source them externally (buy), weighing costs, quality, scalability, and capacity. Make vs Buy Analysis evaluates whether to manufacture a product in-house or purchase it from suppliers. External sourcing adds supplier pricing, shipping, and handling fees.

Optimal Sourcing 97

Optimal Sourcing Analysis Material Savings Supply Chain Software 97

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

The Logistics of Logistics

JUNE 28, 2023

Topped off by improving time-in-transit and lowering your costs, Maergo is reimagining delivery and changing the way the retailers ship and deliver to their customers. Maergo has a comprehensive network of providers, eliminating the need for brands to manage multiple carriers.

Logistics Network Optimization Software 229

Logistics Network Optimization Software Supply Chain Network Software Price Reduction Expense Reduction 229

RFgen

NOVEMBER 13, 2024

Key components of mobile inventory management include: Smartphone app: Allows field agents to log information, analyze metrics, and manage tasks even in remote areas with limited connectivity. Cloud software: Stores and distributes real-time data, producing reports accessible to all team members.

Inventory Management Software 64

Inventory Management Software Real-time Visibility Inventory Reduction Inventory Management 64

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

Supply Chain Game Changer

SEPTEMBER 23, 2022

These centers include areas to receive the items, ensure package efficiency, and store, ship, and audit supplies which is why you want to optimize your Distribution Center. This article provides seven effective strategies to optimize your distribution center. Change Distribution Center Layout. Adopt Vertical Racking System.

Inventory Reduction 52

Inventory Reduction Waste Reduction Expense Reduction Cost Reduction Strategies 52

Locus

JUNE 16, 2023

Say you purchase your coveted gadget online, eagerly tracking its journey from warehouse to your welcoming hands. Customer satisfaction and keeping costs in check rests on optimal last-mile delivery operations. This phase isn’t just a logistical necessity—it swallows up between 40-55% of total shipping costs.

Cost Reduction Strategies 98

Cost Reduction Strategies Expense Reduction Price Reduction Inventory Reduction 98

Intelligent Audit

JANUARY 6, 2022

retailers experienced a 21% increase in their 2021 Black Friday sales, and mid-October data indicated sales would amass nearly $1 trillion, INC.com reported. As a result, the small retail e-commerce strategy needs to evolve. Offer More Payment and Shipping Options. Provide Discounts on Worthy Purchases.

Vendor Strategies 52

Vendor Strategies Cost Reduction Strategies Expense Reduction Price Mitigation Strategies 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

Unleashed

JANUARY 31, 2023

The result is high costs and unsatisfied customers. Lean logistics is a strategy designed to optimise supply chain efficiency by cutting out waste and maximising customer value. Product companies implement lean logistics to eliminate downtime in the supply chain and give customers better value.

Agile and Lean Supply Chain 98

Agile and Lean Supply Chain Waste Reduction Inventory Reduction Cost Reduction Strategies 98

AFFLINK

AUGUST 28, 2019

The more you can cut your supply chain costs, the more you can cut your overhead; the more you can cut your overhead, the higher the return on your investments. Start with these five important tips to reduce the cost of your hotel hospitality supplies. It also cuts your transportation and shipment costs.

Negotiating Skills 80

Negotiating Skills Cost Reduction Strategies Purchasing Skills Vendor Strategies 80

Unleashed

JUNE 26, 2024

It connects inventory management with related functions, such as purchasing and customer management, to enable a unified platform for operations. In addition to real-time inventory management, most tools also provide functionality for managing purchase orders , integrating sales, and storing customer information.

Inventory Management Software 52

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

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

Logistics Viewpoints

AUGUST 5, 2021

PwC reports that almost half of assets under management are held by investment firms committed to decarbonization. It was a rude surprise when I learned it would cost $100 to fill the tank. I was drawn to Hunter and Amory Lovins, who advocated a strategy pairing energy efficiency with renewables, long before its current popularity.

Supply Chain Planning Software 317

Supply Chain Planning Software Sustainability Material Savings Supply Chain Planning 317

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

GlobalTranz

FEBRUARY 17, 2016

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. A Focus on Inventory Control Begets Warehouse Cost Reductions.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Waste Reduction Vendor Strategies 120

GlobalTranz

SEPTEMBER 26, 2018

This creates a wonderful opportunity for shippers to eliminate the middleman costs by considering the use of less-than-truckload freight options for e-commerce. Since e-commerce exists around the globe, variety in shipping can amount to better cost management and fewer delays. LEARN MORE. Get E-Commerce solutions.

Shipping 168

Shipping Cost Reduction Strategies Expense Reduction Resource Reduction 168