Remove Analysis Remove Supplier management Remove Tools
article thumbnail

What Makes a Truly Agile and Resilient Supply Chain?

Logistics Viewpoints

Adding sourcing, quality and supplier management enables supply chain technology providers to create an agile and resilient supply chain for their customers through the entire lifecycle of a product. Armed with the right technology tools, companies can face disruption and be prepared to emerge more successful than their competition.

article thumbnail

Coronavirus Series – Inventory Management Challenges & Solutions

EazyStock

In this four part blog series we discuss how inventory management teams can use inventory optimization to help deal with the impact of the Coronavirus in the medium and long term, focusing on demand forecasting, supplier management and inventory planning. Save Time by Automating Inventory Management Calculations.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cost To Serve – A Smarter Way to Improved Supply Chain Profitability

Logistics Bureau

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. The tools for determining Cost To Serve include standard spreadsheet applications, such as MS Excel, and network design modeling software.

article thumbnail

How AI and Machine Learning Changed Procurement Management

CLX Logistics

At the heart of these challenges lies the need for advanced tools and technologies to drive innovation, enhance decision-making, and unlock hidden value within procurement processes. ML algorithms enable predictive analysis and decision-making, while NLP algorithms enhance communication and data analysis capabilities.

article thumbnail

Supplier Relationship Management: Expert Guide for Field Service

WorkWave

Organizations operating under a reactive SRM approach tend to have limited visibility into their supplier relationships and may lack a long-term strategy for supplier management. On the other hand, strategic supplier relationship management involves a proactive and long-term approach to managing supplier relationships.

article thumbnail

Demand Planning & Policy-Based Planning: A guide to Inventory Management

Log-hub

The right inventory policy can be identified by a detailed inventory analysis of demand patterns, lead time for replenishment, storage costs, and production timelines. Inventory management ensures that the right amount of inventory is available at the appropriate moment, minimizing excess stock or shortages.

article thumbnail

2023 supply chain and logistics management trends

EazyStock

If you’re buying raw materials or components, review your bill of materials to see if it’s possible to substitute materials or items for cheaper options or source from alternative suppliers. ABC/XYZ analysis can help identify the most valuable items to your business.