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Have you conducted a cost-to-serve (CTS) analysis for your enterprise? And that is the sole purpose of cost-to-serve analysis. If you were going to say, “What is a cost-to-serve analysis?” Only a complete cost-to-serve analysis will expose these underlying issues unless they happen to be discovered incidentally.
Quality and Detail of Data and its Analysis In some of our earlier posts, weve stressed the importance of simplicity in distribution network design , and we will return to that topic later in this article. It’s not a short list, so we’ll set it down here as a summary to help you with plans for analysis.
As you’ll know, if you follow our blog regularly, Logistics Bureau does a great deal of work related to supply chain strategy development and alignment. As a result, and as we’ve mentioned in several previously published articles, we’ve discovered that many companies lack a defined and documented supply chain strategy.
Thats why its more important than ever to focus on strategies that work and make them part of your plan moving forward. Lets explore the key strategies that can keep your business ahead of the competition in 2025. Make Sustainability a Core Strategy Consumers care more than ever about where their products come from and how theyre made.
However, enterprise shippers can make a comeback by implementing smart truckload shipping strategies by retooling and putting freight forecasting power to work. And these additional five shipping strategies can help enterprise shippers maximize recovery and boost profits. Shipping distance average. Truckload shipping success rate.
Yet the majority of companies have not defined a big data strategy, and others are barely starting to notice. . �. As a result, the simplest way of defining a big data strategy must begin with understanding how it will evolve and affect the company. . How to Get Started with Your Big Data Strategy. . Hand-held scanners.
First, it is interesting that "flawless execution" does not get the respect it deserves and if you dedicate your life to this you are somehow working on something "less" than strategy. The top performers deal with strategy and all others deal with the day to day execution - or so the top consultants will say.
At the next Logistics Bureau Free Executive Breakfast (which will take place in August), I’ll be discussing the alignment of supply chain and business strategy along with eight other important levers for supply chain performance improvement. The Failing Kmart Business Strategy. The first Kmart store opened way back in 1962.
A plan is necessary, possibly based on one of the following strategies. Hidden Opportunities for Supply Chain Cost Reductions Of course hidden costs, if you can find them, mean hidden opportunities. Much depends upon the nature of your supply chain operation of course. Reverse Logistics Strategy 1: Don’t do it!
What do you do if your logistics strategy is just not working? While there are ways to reverse course after a faulty strategy is deployed, you must first admit it was faulty. Testing is not only a good idea, it is crucial to developing a logistics strategy. This never happens. Sins of Omission.
Supply chains will survive COVID-19, of course, but not without interim pain and structural change. Practitioners must develop a data analytics strategy that gives them insight into supply chain aberrations before catastrophe sets in. “If Companies can weigh risks based on multifactor analysis and act on data nearly in real time.
As expected, this analysis reveals why China stands out as the most powerful maritime nation by a significant margin. Besides China’s undeniable first place, of course, other actors in maritime competition in Asia are also aiming to catch up or even surpass China.
By using strong management and analysis processes, supply chains can maximize value and stay competitive. Of course, that all depends on seeing the activities that are occurring, benchmarking current carrier operations and continuously improving. Streamline data capture and analysis.
A logistical analysis and important tips for businesses. Of course, there are those who have an aggressive business strategy right from the outset. If you take such a strategy, you must have a top-grade marketing strategy to open opportunities for your expansion. There are two sides to the cost-benefit analysis.
What do you do if your logistics strategy is just not working? While there are ways to reverse course after a faulty strategy is deployed, you must first admit it was faulty. Testing is not only a good idea, it is crucial to developing a logistics strategy. This never happens. Sins of Omission.
The most common complaint of newer companies using big data analytics capabilities tends to revolve around traditional questions of business strategy. Consider the following elements explains John Richardson of Inbound Logistics, that impact business strategy. Increasing order efficiency. Demand forecasts. The quantity of each product.
Reporting to keep the inventory strategy fresh and supporting the goals of the organization. Is a replenishment strategy needed? Do a root cause analysis and correct the reason that drove the need to urgently replenish stock. Analysis will help resolve the need for unplanned activity in the future.
Of course, we couldn’t let our entrepreneurial free spirits miss out on those numbers. Competitive Analysis. A competitive analysis is a great way to learn from the greats while also spotting potential structural weaknesses within your own business. #5. Those are all fill-in-the-blanks, of course. ??. #6.
Now of course, this continues to strengthen the need for a hard look at how we handle the Highway Trust Fund and how we deal with aging infrastructure. Well, basically, because getting freight in a smooth matter is clearly important to helping combat the capacity crunch as it is and of course, moving forward. Wide shoulders.
You have, no doubt, heard of offshore manufacturing, or outsourcing, throughout the course of the previous decades. This is largely due to the role that social media and awareness through the Internet has played in the course of manufacturing. Cheaper Products From Alternate Economies. Let us know in the comments below!
Quality and Detail of Data and its Analysis In some of our earlier posts, we’ve stressed the importance of simplicity in distribution network design , and we will return to that topic later in this article. It’s not a short list, so we’ll set it down here as a summary to help you with plans for analysis.
Of course, the investment is intended to impact the bottom line, but when employees feel that their organization cares about them and wants to make their lives better, they want to reciprocate and are more invested in the organization’s success. To simplify the issue, just think about how you can help current employees be successful.
Take a look at how the IoT supply chain is changing the landscape in terms of equipment functionality, shipping processes, invoicing and payments, and analysis of trends. Analysis of Trends and Recommendations. In some cases, human intervention and input will be completely eliminated. IoT and Machine Functionality.
As youll know, if you follow our blog regularly, Logistics Bureau does a great deal of work related to supply chain strategy development and alignment. As a result, weve discovered that many companies lack a defined and documented supply chain strategy. A company without a supply chain strategy is at a competitive disadvantage.
There are, of course, tactical metrics for accounting functions like viewing open and paid invoices or the ability to identify when shipments are due, but also must include strategic metrics and reports for more in-depth analysis. Lane Analysis. By Carrier On Time Performance. broken down by the current and past (12) Months.
For this reason, KPIs are essential for any business improvement strategy. Of course, the big challenge in this type of external benchmarking is obtaining the necessary data, since many companies are wary of sharing performance data with potential competitors. Use weekly, monthly, and year-on-year data for your analysis.
Of course, it is helpful to have some statistics on hand to validate the statement above. Supply chain strategy is critical to business success, but companies often underestimate its importance and hence pay it less leadership attention than other areas of operation. Supply Chain Strategy. What’s wrong with this picture?
In the course of operation, the business is exposed at multiple points across its stages of supply chain. Define your strategy and be open from the outset. Proper research and analysis. It is therefore of vital importance that you invest time in supplier analysis.
Unless your company has already invested in the processes and technology to support the addition of online retail logistics to your channel strategy, attaining a single view of your inventory and customers could prove difficult. You will probably find, from your initial analysis, that your cost-to-serve follows the 80/20 rule.
Top brass can better align labor goals to corporate strategies, giving the organization a clear sense of purpose and direction. If a task runs off course, corrections can be made immediately. Best yet, accurate progress reports continue to feed your analysis. Long-term gains based on accurate historical reporting and analysis.
Of course, increased profitability means knowing when to accept or reject a tender , and that information is invaluable for fleet asset management, including allocating equipment and drivers alike. . Become a stronger asset-based carrier with freight tech-driven hiring and retention strategies through freight data.
Too much leads to resources being monopolised on gathering tons of data and a subsequent risk of “paralysis by analysis” Cost to Serve (CTS) is an approach that helps you avoid both extremes. Knowing your CTS per product and per customer also lets you better control different commercial strategies.
Through the course of 2017, and because of my academic research, I have been extremely fortunate to interview a range of senior military officers and public servants. Strategy is a concept of relating means to end; it is complex and subtle and is about thinking, vision, learning as opposed to planning. By David Beaumont.
Severe weather conditions require flexibility and preparedness, prompting ships to change course or delay voyages to escape the force of nature. Hurricanes and typhoons disrupt schedules, damage vessels, and endanger crew members. Challenge 4: Insurance Challenges The rise of extreme weather events creates dilemmas for the insurance industry.
In other words, they have actually used data analysis to realize what does and does not improve profit margins. For example, an analysis of fuel efficiency may require information on road conditions, tire pressure and octane ratings. This is exactly the point behind big data. . Why Is Everyone Interested in Big Data? .
It’s a good one to consider, and perhaps an appropriate stimulus for companies to review inventory performance and revise their strategies. If anything, the unprecedented disruptiveness of the COVID crisis has highlighted the flaws in traditional methods of inventory calculation, which are based mainly on historical demand analysis.
But the most successful learning and development teams also understand how to measure the success of each training course and react accordingly. A training needs analysis (TNA) will identify where employee training can make a meaningful contribution towards improving performance. When conducting a TNA: 1.
Carriers simply need to know where to send trucks and the proper freight rating or pricing strategies to use. Of course, it is also critical to apply data across all activities to identify which loads are ripe for the taking. Even with that information, there is still room for improvement. Carriers have a finite amount of capacity.
Cost reduction strategies in supply chain management remain focused on getting loads from point A to point B as fast and as affordable as possible. And of course, customer satisfaction remains an absolute must, so speed, accuracy and cost remain critical aspects.
When they had a production issue at one of their plants, they were able to quickly simulate the impact of the problem on their volume and EBITDA and decide on the best course of action. Within a few months they moved from spreadsheets and silos to looking at real-ti me scenarios in monthly planning meetings. A focus on Digital Twins .
We explore how predictive analytics and big data with human sentiments can add value and amplify their supply chain strategies. Approaching a demand analysis with historical data and seasonal variations is no longer competent. With demand forecasting being complex, it is easy to lose supply chain visibility. billion by 2022.
Of course this stage of planning can become pretty complex, and it will often pay to seek advice from equipment suppliers or even engage a consulting firm to help you develop your storage strategy. Identify Bottlenecks : Pinpoint areas where operations slow down or become inefficient, and develop strategies to address these issues.
This remains key to the overall success of investments within supply chain analysis. And pre-emptive strategies that help isolate and address real-time problems will inevitably rely on real-time freight data and easy-to-access systems. Of course, that’s another challenge.
In the course of updating our annual research on the supply chain planning market , I talked to executives across the industry. Alex Pradhan, Product Strategy Leader John Galt Solutions, told me that “all planning vendors have bold marketing around AI.” However, this kind of AI does not work out of the box. Final Thoughts.
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