This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing. However, it is fundamental to empowering procurement success in the modern age.
GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. Business Spend Management Solutions are Networked .
Knowledge Graphs are emerging as an important tool for building advanced AI capabilities. According to a survey by ARC Advisory Group, only 10% of industrial companies are ready to apply artificial intelligence/machine learning. We needed to model the data in a way that we can do simple searching. Data does not move.
Experts from North Carolina State University and GEP conducted a survey on supply chain, procurement and IT leaders to determine their challenges and priorities, focusing on examining gaps in the supply chain. Such a gap is problematic, as it could lead to higher costs, longer cycle times and less resilience.
These standards define how IoT devices will communicate, and how data will be collected, processed, handled, stored, and summarized. Strong players in the market will emerge as platform providers to aggregate the IoT data and provide key insights into that data that drive better business decisions in 2018.
In one McKinsey survey of more than 100 large organizations in multiple sectors, companies that regularly collaborated with suppliers demonstrated higher growth, lower operating costs, and greater profitability than their industry peers. SCCN solutions provide supply chain visibility and analytics across an extended supply chain.
At the same time, the Chief Purchasing Officer (CPO) has taken on a pivotal role by securing Personal Protective Equipment (PPE) to protect the workforce and direct materials when primary sources fail. The Chief Supply Chain Officer (CSCO) has gained prominence as organizations tackle the disruption and prepare for a post-COVID world.
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). And “it’s a great tool,” but there are more sophisticated, more accurate tools to do sourcing.
SCM solutions provide oversight of materials and products, and their associated data, as they move through the supply chain from supplier to consumer. By gaining access to the data in these processes, businesses are better able to coordinate workflows, improve efficiencies, and ensure that customers get the product they ordered.
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.
a global shipping and mailing company that provides technology, logistics and financial services, has released new data from its BOXpoll survey revealing key insights for UK retailers selling to US consumers. The BOXpoll survey questioned 400 US-located online shoppers who purchased from UK brands in the past six months.
According to the recent SYSPRO global research survey, an enormous 82 percent of Fabricated Metal Manufacturers experienced supply chain and material handling disruptions over the past twelve months. One of the main technology disruptors is cloud infrastructure and supporting tools. A cloud ERP system can be such a platform.
As time passed, procurement gradually gained a larger role in the scope of manufacturing and order fulfillment. By the mid-1950s , procurement had become a commonplace aspect of minor business, and procurement was almost comparable to secretarial work. Why Is Technology Driving Procurement Trends and the Role of Procurement?
From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. A 2016 Accenture survey, reports RF Gen , explained how more companies are taking advantage of AI benefits through linked supply chains. Procurement’s Role Did Become More Important.
Manufacturers need to focus on their core in order to stay competitive, and technological tools, such as our Cerasis Rater, a transportation management system , allow for streamlined process in managing transportation, giving back precious time, money, and focus to our manufacturing customers. The Customer Owns the Empire.
As customers move to purchase more online, retailers and logistics providers are looking for more efficient and cost-effective ways to deliver goods to the end customer, and at lower cost. Fleet management software is one tool that can help you manage drivers, dispatchers and vehicles to reduce overhead and increase efficiency.
As reported by DC Velocity , “the 2020 Fleet Advantage Industry Benchmark Survey noted, “11% of transportation fleets estimate they have saved more than $1 million in crash avoidance by upgrading to newer trucks with advanced safety features.” The data from benchmarking trucking fleets provides companies with a wealth of information.
With continued digital innovation, data from across the supply chain network and even consumer purchasing trends can be easily collected and analyzed to understand historical trends better and predict future demand. What Is an RPA Software Provider? Evaluate the Ease of Deployment of RPA Software.
More Australians are also now purchasing locally produced goods, and research from Roy Morgan found 96 per cent of Australians prefer to buy locally made products. Data-driven decision making to maximize value for manufacturing. A digital roadmap requires access to accurate, real-time, and actionable data.
Expectations for short delivery times, 100% fulfillment accuracy, and large product selection and availability have become a key deciding factor on which customers make their purchase decisions. Of the DC technology choices available, AI software is significantly promising for many looking to transform their DC operations.
These people are genuinely interested in your product — so much so, that they have purchased your products. Email vs. Other Forms of Communication For many years, email has been the gold standard of communication tools for DTC businesses. You do you and look at the data to determine what sending profile best fits your client base.
GEON Performance Solutionspurchases plastic pellets and add plastic compounders to make products of different strength, resilience, and flexibility. GEON Embarks on a Digital Transformation GEON Performance Solutions is embarking on a supply chain transformation.
Companies must also offer a healthy workplace which listens to their workforce and offers modern tools that keep workers happy in addition to being productive. Instead of looking at technology as a pure productivity solution, companies can benefit from exploring ways to use technology for employee retention.
In a recent study, MIT found that companies that focus on 5 key initiatives to improve their supply chain data can have a big impact on their bottom line. Obstacles to fully utilizing analytics included inaccurate data , cost, and lack of timely data. Supply chain data initiatives need a top-down mandate.
In a recent survey by the Construction Research Corporation, 75% of companies in the building materials and construction space said that job costing is a major concern. Dispatch software allows you to run history reports to see your true net profit at the end of the day. Invoicing can take up to three days due to manual data entry.
Supply Chain Risk Management Solution from riskmethods. If I was asked to vote for the most interesting solution set that has come to the fore over the last few years, my vote would be for supply chain risk management solutions. AGCO’s risk notification and visualization solution came from riskmethods. riskmethods.
And though the market index long predates digital computing, computing power combined with huge, aggregated data sets have proved fertile ground to improve visibility. As containerized freight has been slow to digitize in general, a reliable, data-driven, and actionable index has eluded the industry as well. The FBX Daily Difference.
million shoppers hit the stores and the internet to capitalize on Black Friday and Cyber Monday deals, according to a survey by the National Retail Federation. The top gifts were clothes and accessories, which about half of those surveyedpurchased, and toys, which nearly a third of people surveyed bought.
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. The ATA creates the tonnage index through a series of surveys of its members. The index uses seasonally adjusted data and non-seasonally adjusted data.
Jabil sponsored a global Dimensional Research survey to capture hard data on current experiences, challenges and trends with the supply chains of electronics manufacturing companies. Transparent supply chain management and effective supply chain visibility is a critical tool in a company’s continued growth and successful brand image.
These clothing companies have revolutionized how consumers purchase, wear, and dispose of their clothing. First, in the early 2000s, advancements in data analytics, RFID, and localized supply chains fueled the rise of “fast fashion.” Over the past three decades, three technological shifts have transformed the fashion industry.
Recently we read from Software Advice their recent report, the 3PL budgeting guide , which listed how much should a 3PL budget and how to compare a Warehouse Management System. A WMS is the general term for the software that governs, monitors, and controls all processes within a warehouse. Understanding Warehouse Management Systems.
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. and Target Corp.
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. Too often, organizations invested in solutions that offer little more than knee-jerk reactions, resulting in net losses. The Road to Agility and Resilience.
Survey results from ‘623 supply chain professionals across 17 countries’, concluded that one of the top industry challenges was ‘facing global competition’. A rise in ecommerce has enabled consumers to purchase products anywhere at any time, which has created a need for immediacy. Customer-Centric Approach.
Because switching from JIT to JIC is at best only a tool to address short-term problems and risk. JIT isn’t the main problem, and JIC isn’t a solution. Finance just “ prayed for margins ” in the hopes that visible top-line data would result in the profitability needed. A change to one link (e.g. on-time delivery).
When you start a direct-to-consumer business (DTC), you can gather market data and make some educated assumptions about your product, but until you start generating sales they’re all just best-guesses. As your business grows, data about your customers becomes more readily available and far more valuable.
GreyOrange , a global software provider that leverages artificial intelligence, machine learning and smart robots to optimise fulfilment operations, has revealed the results of a new survey which shows that almost half (45%) of consumers across EMEA expect online orders to be delivered within two days.
And while this definitely points to an industry making strides, a recent Procurious survey found that 75 percent of women in supply chain experience gender-based adversity. Technology partner Fulfil Solutions Inc., Amazon’s fast-shipping service can add fees for small orders. into a micro-fulfillment center (MFC).
What is new about gamification though is the application of digital software to make it more engaging, immediate, and suitable for a range of environments beyond the classroom. Indeed, gamification is becoming an increasingly popular feature across the entire supply chain, from procurement to last-mile delivery.
An ecommerce store is a branded website where products from a single seller can be purchased over the internet. You can build a customer list (a valuable asset if you ever sell your company), engage with those customers, and learn from collected data on their shopping behavior. You have a direct relationship with your customers.
A recent survey, conducted by Handshake , found more than 79 percent of companies providing B2B sales already have customers clamoring for online ordering. Since you cannot realistically be available constantly, more companies are demanding self-service solutions to order products or services on-demand. E-commerce grew 10.2
Improving predictability in outcomes is valuable, but ensuring your supply chain is nimble enough to act on the data is even more so. We explore how predictive analytics and big data with human sentiments can add value and amplify their supply chain strategies. The presence of data throughout the supply chain is vital to its evolution.
As physical stores opened, shut down and re-opened again, consumers became more flexible in the way they shop for, and purchase, just about every product. Digital transportation management solutions can help by connecting the entire shipping network, including customers and carriers, in real time.
We organize all of the trending information in your field so you don't have to. Join 84,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content