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From sourcing and bid evaluation to warehouse slotting and dynamic routing, AI tools support faster and more consistent outcomes by processing large volumes of operational data and identifying patterns that human decision-makers may overlook. These capabilities are now being integrated into mainstream TMS, WMS, and ERP platforms.
The best way to understand the difference between procurement and purchasing in a business is to consider the process involved in buying a car, says Logistics Bureau’s procurement specialist, Trent Morris. Procurement First, Purchasing Follows. But all of those things become purchasing as opposed to procurement.
Bouncing back more quickly, said experts, will require supply chain managers to turn to new ways of managing the supply chain, including using Internet of Things (IoT) data, analytics and machine learning (ML). Bringing Analytics to Supply Chain Management. An AI system needs to be fed data sets to learn how to behave and react.
Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services.
It’s a bird, it’s a plane, it’s… oh, numbers and data. For some, keeping track of metrics may as well be music to their ears. But, no matter which camp you’re in, the importance of validating your metrics cannot be understated. But First, What Are eCommerce Metrics? Wait — that’s our line! Your online store is set up.
They’re called metrics, a set of constantly changing numbers and percentages that tell you how you’re doing from one day to the next. There are dozens of metrics you could track, but some are so important you should check them frequently. These are the metrics you want on your dashboard. What is a Metric?
As we head into 2016, we are featuring our most read articles of 2015 in our five main categories: Manufacturing, Supply Chain, Logistics, Transportation Management, and Freight. Yesterday we published the top 10 most read manufacturing articles of 2015. . Top 10 Supply Chain Articles from 2015. No Purchase Orders were used.
Still, in this article, I will help you evaluate the need for supply chain and logistics KPIs in your organisation, and identify which types of measurement might be most appropriate. Instead, its merely a common-sense guide to those supply chain KPIs that can best provide actionable data for general management purposes.
In the rest of this article, we will delve deeper into the advantages of how a fleet management system works and how to monitor it properly. Capacity, these metrics are essential for managers to analyze the operation and opportunities for improvement. Or when it is time to purchase new vehicles?
He also spoke at the ARC forum in 2023, and this article is based on that presentation as well. We needed to model the data in a way that we can do simple searching. We spent hours and hours looking for data, whether it was for audits, compliance, or just basic troubleshooting. Data does not move. Celanese has 2.5
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 would be folly not to take advantage of data availability and accessibility.
Predictiveanalytics is a technology tool that is improving the end-to-end customer experience of the retail, healthcare and transportation industry. This month, multinational retail corporation, Wal-Mart, announced their partnership with ‘ actionable predictive intelligence ’ platform, FourKites. Healthcare.
At Logistics Bureau, we capture, analyse, and exploit freight benchmarking data to help us when we provide freight contract negotiation services for our clients. Although freight benchmarking is not a complicated process, it may prove challenging because the data your company needs is unlikely to be readily available.
Those goals also tell you how much you’ve already evolved, and as such it is vital that your company understands the most critical distribution metrics, that way you can keep control on your day-to-day operations as well as your month-to-month, quarter-to-quarter, and year-to-year progress. What Are Distribution Metrics?
This means supply chain and logistics professionals need to distinguish between more frequently purchased products and the slower-moving products customers are willing to wait for. In a study of logistics providers conducted by Fraunhofer IML, only 36% of organizations reported that they had a clear overall plan for digital transformation.
Companies “seeking to increase data sharing and collaboration across their supply networks have faced three principal hurdles.” Those include trust issues, the operating model, and technology. The remainder of this article will focus on the technology issues. This is based on a canonical model of the supply chain.
The solutions to supply chain problems boil down to the right combination of three factors—technology, data and processes. It’s true that the major issues in the supply chain—which were confirmed through MH&L ’s workforce survey process and published in an earlier article —are nuanced. Data is a critical business asset.
Having a TMS for your supply chain can help provide your company with greater visibility, better reporting, and improved performance through automating many manual processes. If you’re reading this article, more than likely you’re interested in a TMS but are hesitant. Or find out what your freight costs were on certain lanes.
You are not alone, especially as in the time since we first penned this article, one huge and unforeseen event has raised awareness of the global importance of this vital sector—and shown it to be an attractive career choice. That event was the global COVID-19 pandemic, which erupted during the first half of 2020.
You see, the set of primary data needed to keep an airliner aloft is (apparently) relatively simple—and the same is true of running a supply chain organisation. These key metrics become your organisation’s “multi-function display” and give you the primary data needed to monitor and manage “normal flight conditions.”
This article explores how adaptive supply chains can help businesses thrive. By embracing collaboration, real-time data, and a focus on sustainability, companies can build resilience, improve margins, and gain a competitive edge. This collaboration enables faster response times and cost savings. Nari Viswanathan is Sr.
This week, learn how executives who manage a trucking business are monitoring carrier operations-based indices to improve profit margins and reduce operational trucking costs. That includes total fuel costs for purchasing rack diesel fuel price , fuel additives, diesel exhaust fluid and taxes. Operating Ratio (OPRAT).
Wholesale Weakness Slowing US Inventory Destocking Show Submenu Resources The Logistics Blog® News Press Whitepaper Case Study Webinars Indexes Search Search BlueGrace Logistics - July 17, 2023 The effort to cut inventories is being slowed as consumers reduce goods purchases, forcing companies to continually rebalance inventory.
Research indicates that up to 75% of firms report positive impacts from outsourcing to logistics service providers (Langley J, Capgemini 2007). In this article I will outline, firstly, the reasons why organisations outsource logistics activities, and secondly, what the key drivers are for outsourcing success. But what of the balance?
If you want to argue that these changes are in technology only, there was a recent Bloomberg article which noted that: “companies from noodle makers to semi-conductor giants are spending on new plants and machinery in ways they haven’t done for years.” Manufacturers thriving on data. Leveraging the data ocean.
This January the company reported that its annual recurring revenue grew at over 84% year-over-year. Because supply chain planning is undergoing something of a technological revolution, this article will focus on o9’s technology and why their CEO believes it is differentiated. billion after a funding round.
This article shares details on the Truck Tonnage Index, how the data reflects the overall economy, and other ways to interpret the data. Data Collection. More goods being purchased lead to more shipments to fill the orders which increase overall tonnage. When comparing year-over-year data, the July index fell 2.9%
In this article, carriers will learn about four SONAR indices to build trucking KPIs that show where to put the company’s focus to optimize fleet utilization: . Let’s teach you what each index is and what trucking KPIs are built using the data within the freight indices. . Maintenance Expense per Mile (MAINT).
A recent report by Frost & Sullivan, “The Future of Parts and Service Retailing in the Automotive Aftermarket” , predicts that by 2025, 10 to 15 percent of all global parts sales will be made online. Advanced Analytics Continue to Get a Bigger Plate at the Manufacturing Dinner Table. Forecasting Demand.
Credit Card/Identity Fraud Scammers obtain payment information from unsuspecting users using phishing, pharming and whaling schemes, then use the stolen credentials to purchase items from ecommerce stores. The scammer then has access to the stored payment cards for that account and can use them to make fraudulent purchases.
As legislation focuses ever more heavily on environmental protection though, and consumers increasingly consider sustainability in their purchasing decisions, all supply chain organisations will need to find the way forward. Meanwhile, Big Dataanalytics, AI, and machine learning can have a significant impact on supply chains.
In this edition of “SONAR Indices & Insights,” the SONAR team showcases several truck driver indices full of transportation data to aid carriers in staying ahead of any potential truck driver shortage within SONAR, the freight forecasting platform from FreightWaves. Owner Operator Driver Percentage (OWNOPS). Truck to Driver Ratio (TDRAT).
And on the subject of sustainability, SCDigest.com covered Walmart’s 2015 Sustainability report : Walmart, the world’s largest corporation, is fresh out with its 2015 sustainability report, the eighth such document it has produced. The data is shared with suppliers who know when to ship more products.
Businesses are prioritizing the speed of data propagation within their supply chains. According to Gold, NRF members have made significant investments in data analysis to improve their ability to predict consumer demand to prevent bloated inventory levels that many large retailers experienced around this time in 2022.
With such technological advancements comes the increasingly pervasive Internet of Things (IoT), which delivers increased data and sharing communication that Microsoft estimates could lead to as much as $90 billion in added value for manufacturers annually. But that’s only the beginning. and globally.
In this article, leaders will learn about three SONAR indices that are focused on revenue granularity monitoring: . There are three indices that provide trucking leaders the freight and trucking data they need to build freight KPIs that keep abreast of revenue in specific granularities.
Mid-size manufacturers operate mainly in the batch process space and that is what this article focuses on. This can be different as well as for the purchasing (e.g. Now more than ever before, visibility, compliance, cost management and quality control in the procurement and supplier selection process are key.
Sustainability: Reduce the carbon emissions impact of last-mile operations by adopting green fleets and implementing emissions reporting. Cost is an important consideration as well. Generally, companies that purchase last-mile delivery solutions align with the following criteria: Building software is not a core part of their business.
Machine Learning is a methodology analytics leader, SAS , describes as: A branch of artificial intelligence based on the idea that systems can learn from data, identify patterns and make decisions with minimal human intervention. This advanced system of dataanalytics has helped transform our everyday lives.
Sources cite the resiliency of essential services , predictive recurring revenue and business model growth opportunities enabled by technology, training and development as being reasons behind the interest. Q&A highlights in this article [Open] [Close] WorkWave: Where should you start if you are looking to sell your business?
Indeed, gamification is becoming an increasingly popular feature across the entire supply chain, from procurement to last-mile delivery. These are the principles we’ll expand on in the remainder of this article. Essentially, gamification is just an expansion of the use of metrics and KPIs to measure human performance.
One of the most popular articles we’ve ever done is our look at analyst group Gartner’s annual ranking of the Top 25 Supply Chains. So the CSR score too is more of a popularity contest than a consistent metric. At the end of the slideshow, you’ll also find links to our analyses of previous years’ rankings. Media Type. Media Credit.
Editor’s Note : It is clear from several articles around the Skills Gap that we need programs that keep the next generations interested in one of the most vital parts of business today: mastering the supply chain. We are lucky to also feature the great supply chain of Staples, who recently purchased Office Depot.
When freight market participants are able to get a leading indicator instead of historical data, they are able to proactively plan for assets needed, capacity, and the potential price of freight for drayage and surface transportation moves that head to inland markets after ocean shipments go from the port to roads.
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