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 8, 2022

The question arises: when to separate purchasing management tasks into an autonomous operational role and hire a designated professional? There is no universal answer to this question, as purchasing process, procurement policies, goals, and volumes differ not only in the industries but even from company to company.

Purchasing Skills 74

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 74

GlobalTranz

APRIL 25, 2016

Sure, supply chain cost reduction is important in reducing the cost of goods sold (COGS) and increasing profit, but there are other measurements which should not be forgotten. 3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. 10 Soft Metric Considerations in Measuring Supply Chain Performance.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

NC State SCRC

NOVEMBER 2, 2023

Lessons Learned from a Career in Procurement As part of our weekly Supply Chain Leadership, I interviewed Howard Richman, who I am co-authoring a new book with (“Procurement Confidential”). At Mars, procurement (commercial as it was called) was one of the most highly regarded of the professions.

Procurement Analytics 52

Procurement Analytics Negotiating Skills Manufacturing Procurement Optimal Sourcing 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

GlobalTranz

MARCH 23, 2016

Today I will discuss how a company can sustain a lean culture once they have implemented lean practices in order to achieve continuous improvement. Your company has started the lean journey, but how do you sustain it? How can we Continuously Improve Daily and Sustain a Lean Culture and Behavior? Why are we doing this?

Agile and Lean Supply Chain 120

Agile and Lean Supply Chain Manufacturing Procurement Lean Sustainability 120

GlobalTranz

AUGUST 9, 2016

Lean is a new way of doing business. For shippers, culture and behavior have to change to apply Lean Transportation thinking. Lean thinking focuses on the elimination of all waste (where waste is defined as any non-value added process) and bringing value to the customer , beyond the customer’s expectations.

Waste Reduction 120

Waste Reduction Agile and Lean Supply Chain Lean Cost Reduction Strategies 120

Unleashed

JULY 23, 2023

KPIs in manufacturing are quantifiable production metrics used by manufacturers to measure production performance over time. As a metric, it’s the time you budget to manufacture each part or component. This metric represents the amount of time you lose when switching a production line from one product to another.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

SCMDOJO

JUNE 28, 2024

Diverse Skill Set Utilization: Multifaceted Role: Supply chain roles often require a blend of analytical, organizational, communication, and problem-solving skills. This can be engaging and fulfilling for those who enjoy using their analytical and strategic thinking skills.

Negotiating Skills 93

Negotiating Skills Optimal Sourcing Purchasing Skills Supply Chain Design Software 93

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. Kanban came from the same place as the wider principles of lean manufacturing: Toyota. The customer’s order is complete.

Manufacturing Procurement 98

Manufacturing Procurement Agile and Lean Supply Chain Lean Examples 98

Kanban Logistics

SEPTEMBER 9, 2021

In this article, we’ll look at the latest reports on manufacturing activity, while showing how a third-party logistics (3PL) provider can offer great logistics benefits within the manufacturing industry. The article and report contain additional positive manufacturing signs, along with some concerning ones. Third-party procurement.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics 3PL Logistics Network Optimization Software 52

Silvon Software

APRIL 29, 2022

Key performance indicators (KPIs) in inventory management are metrics that help you monitor and make decisions about your stock. In inventory management, KPIs matter because they offer information about turnover, sales, demand, costs and more. These types of metrics are Sales KPIs, Receiving KPIs and Operational KPIs.

Optimal Sourcing 119

Optimal Sourcing Inventory Reduction Procurement Analytics Price Mitigation Strategies 119

The Logistics & Supply Chain Management Society

AUGUST 20, 2020

Organisations that have successfully implemented RPA initiatives report cost savings of up to 80% and time savings of up to a staggering 40%. Procurement. Procurement can also have RPA do dynamic searches of websites to source or conduct market research for future buys and tenders. Purchase Order Management.

Supply Chain Software 246

Supply Chain Software Supply Chain Planning Software Optimal Sourcing Agile and Lean Supply Chain 246

GlobalTranz

FEBRUARY 17, 2016

Forecasting Cost : Food, fashion, and retail all have seasonal turnover. In order to avoid excess inventory and keep your business lean, you must understand the pace of movement of each product. Overhead Cost : Warehouse Management Systems are expensive, and so are inventory managers. Lean is a new way of doing business.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Waste Reduction Vendor Strategies 120

SYSPRO Smarter ERP

MARCH 15, 2023

Manufactures are continuously faced with the challenge of forecasting how much (raw material) to purchase and how much (finished goods) to produce. The misalignment can result in multitude of negative consequences such as high warehousing costs, cash flow difficulties, loss of sales, which can lead to permanent loss of loyal customers.

Forecasting 105

Forecasting Forecasting Software Demand Planning Software Modeling 105

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. While touted as a digital procurement provider, it took the Company nine days to onboard me as a vendor, and two weeks to process a Purchase Order. In times of uncertainty, cash is king.

Optimal Sourcing 237

Optimal Sourcing Supply Chain Design Software Waste Reduction Inventory Reduction 237

GlobalTranz

OCTOBER 21, 2015

Editor's Note: As of late you may have noticed we have written a lot about procurement and the future of procurement. A large part of procurement is finalizing the contract and then the follow through of the determined deliverables in that agreement. All KPIS have metrics to measure. Cost Reduction is another major goal.

KPI 120

KPI Negotiating Skills 3PL Optimal Sourcing 120

The Logistics & Supply Chain Management Society

APRIL 26, 2022

Brand loyalty is no longer the driver for consumer purchasing decisions. People simply want to purchase products from businesses which provide a more transparent and streamlined service, and who deliver on their customer promise, even if it means inflated prices to obtain it. Driving Sustainable Growth Through Supply Chain Resilience.

Supply Chain Planning Software 246

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 246

IQMS

JANUARY 21, 2021

Bottom Line : In 2021 and beyond, customers are voting with their dollars for the manufacturers who excel at sustainable manufacturing and make a positive contribution to the environment, dominating B2B supply chains and B2C purchasing decisions. Reduce energy-related costs and drive down operating expenses by using more recyclable materials.

Manufacturing Procurement 134

Manufacturing Procurement Expense Reduction Cost Reduction Strategies Sustainability 134

ivalua

NOVEMBER 30, 2022

Redwood City, CA – November 30, 2022 – Ivalua, a global leader in spend management, today announced that it has been named a Leader in the 2022 Gartner “ Magic Quadrant for Procure-to-Pay Suites ” for the 4th consecutive year. I’d like to thank our teams, our customers, and our partners.”. and/or its affiliates in the U.S.

Optimal Sourcing 130

Optimal Sourcing Procurement Solutions Procurement Analytics Optimization Software 130

Supply Chain Shaman

JUNE 14, 2018

The inadequacies of MRP is the genesis of the lean process of Plan for Every Part (PFEP). PFEP optimizes the policies that define how to procure each part. PFEP enables supply chain leaders to glean a 360-degree view of their inventory and procurement policies to maximize the value of each inventory dollar. Cross Site Analytics.

Optimal Sourcing 173

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Agile and Lean Supply Chain 173

ThroughPut

MAY 16, 2024

Powered by data analytics and advanced technologies, every stage of the supply chain can be critically analyzed, starting from procurement to distribution to identify and prioritize improvement opportunities. This opens up avenues to save procurement, transportation, inventory, and warehousing costs.

Optimal Sourcing 52

Optimal Sourcing Supply Chain Optimization Optimization Software Modeling 52

ThroughPut

OCTOBER 16, 2022

Inventory analytics can go a long way in understanding and improving the inventory performance and often done by an inventory manager. Keeping dead stock for longer periods of time (usually beyond 12 months) can add to the dead weight and impact the purchase of similar items in the future, thus hampering overall inventory management efforts.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Inventory Management 52

Taulia

JUNE 26, 2023

During this step, you first need to decide on supply chain objectives and specify the metrics that will be used to monitor progress toward them. Then, move on to build your supply chain to suit those metrics. The main dichotomy in supply chain models is between lean and resilient.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Manufacturing Procurement 52

SYSPRO Smarter ERP

MAY 10, 2022

This should also integrate with inventory management and procurement so that goods are ordered in time and there is visibility over stock items. Managers should be able to analyze the costs of customized orders to identify where improvements can be made in labor hours worked, and other areas where costs can be lowered, such as reducing waste.

Manufacturing Procurement 111

Manufacturing Procurement Procurement Solutions Optimal Sourcing Inventory Management Software 111

Supply Chain Movement

SEPTEMBER 26, 2016

Global P2P departments are still on the journey towards true touchless end-to-end purchase-to-pay function. Get experience on Lean and Six Sigma in indirect procurement. IKEA looking at Lean / Six Sigma for P2P indirect process. Organiser: marcus evans Conferences. URL: www.marcusevans-conferences-paneuropean.com.

Six Sigma 60

Six Sigma Conference Procurement Analytics Case Study 60

Unleashed

AUGUST 20, 2023

For customers, it can mean the time it takes to receive an order after they have purchased it. For product sellers, it can refer to how long it takes to receive raw materials or bulk products after placing a purchase order with a supplier. There are many definitions for lead time in supply chain management.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

SCMDOJO

NOVEMBER 17, 2023

We have Courses like S&OP deployment, Supply Chain Digitalization , , and Negotiation in Procurement. Whether it’s purchasing, procurement, transport, technology, facilities, or other specialized areas, understanding your passion will influence the subsequent steps in this rewarding career path.

Supply Chain Planning Software 98

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Negotiating Skills 98

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Inspired by McKinsey’s 2020 consultancy report, which emphasizes transforming supply chains rather than temporary fixes, we believe a comprehensive approach to reskilling supply chain professionals is essential to meet future demands.

Purchasing Skills 130

Purchasing Skills Buyer Training Asia Supply Chain Design Software 130

ShipBob

OCTOBER 4, 2023

However, good inventory management also requires strategic inventory reduction instead of simply procuring more goods. You’ll also learn some effective strategies on how to reduce inventory levels to save costs. This helps businesses to get more out of their procurement budget and increase their profits.

Inventory Reduction 52

Inventory Reduction Waste Reduction Cost Reduction Strategies Expense Reduction 52

ThroughPut

MAY 30, 2024

This contrasts with “pull” type systems like lean manufacturing, where production is based on actual customer orders. However, some argue MRP can also be used to support lean production. MRP is considered a “push” type production system, where production is based on forecasted demand.

Material Savings 52

Material Savings Supply Chain Planning Software Optimal Sourcing Manufacturing Procurement 52

Unleashed

AUGUST 7, 2024

Cost of production is the manufacturing metric that tells you exactly how much money was spent on producing a product or offering a service. If you don’t know your cost of production, there’s a serious risk of running the business at a loss.

Cost Reduction Strategies 52

Cost Reduction Strategies Negotiating Skills Purchasing Skills Material Savings 52

SCMDOJO

MARCH 8, 2024

By negotiating lower MOQs with suppliers, businesses can reduce the amount of inventory they need to purchase at once. Importance of Teamwork and Collaboration in Inventory Optimization: Successful inventory optimization requires collaboration across departments, particularly involving purchasing and IT.

Inventory Reduction 98

Inventory Reduction Optimal Sourcing Cost Reduction Strategies Resource Reduction 98

EC Sourcing Group

OCTOBER 26, 2021

However, the use of information technology in supply chain management has streamlined the world of procurement and purchasing through supply chain management, cloud software, and other types of IT that help boost supply chain efficiency. Cost reduction. Automation of the supply chain has resulted in resources (i.e.,

Supply Chain Software 52

Supply Chain Software Logistics Network Optimization Software Inventory Management Software Analytics Software 52

SYSPRO Smarter ERP

NOVEMBER 1, 2021

We live in a time where we can purchase almost anything with a click of a button. A B2B e-commerce strategy is therefore becoming increasingly necessary for manufacturing businesses that want to better sell their products or procure the necessary components for manufacturing them. Transitioning to B2B e-Commerce.

Manufacturing Procurement 111

Manufacturing Procurement Supply Chain Planning Software Optimal Sourcing Predictive Analytics Software 111

Supply Chain Matters

JUNE 21, 2022

This week, the Council of Supply Chain Management Professionals (CSCMP) , with sponsors Penske Logistics and consulting firm Kearney , released the 33rd Annual State of Logistics Report to organization members and the industry as a whole. This report provides a snapshot of the U.S. This Year’s Report Themes and Key Messages.

Logistics Network Optimization Software 52

Logistics Network Optimization Software Procurement Analytics Report Inventory Reduction 52

Supply Chain Shaman

MAY 21, 2013

We finished our report on the maturation of hospital supply chains , and I have put the finishing touches on the Healthcare Supply Chain Index for this Thursday’s webinar. We have used Lean process systems and swim-laned ourselves to death. They are primarily focused on cost management on new purchase decisions.

Modeling 240

Modeling Modeling Software Pharmaceutical Procurement Analytics 240