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They can ingest large volumes of functional data and leverage advanced intelligence to recognize broad trends and specific disruptive events. In a recent study, almost three-quarters (74%) of shippers reported they would switch to 3PL providers based on their AI capabilities. billion to $23.07
They integrate AI into demand forecasting, inventory optimization, and logistics operations to improve efficiency, reduce costs, and mitigate risks. A 2023 McKinsey study found that companies relying on reactive supply chain management lose up to 10% of annual revenue due to inefficiencies and missed opportunities.
When we talk about building a resilient supply chain, we’re not just discussing having backup suppliers or extra inventory. Because capital costs are higher, however, company leaders must study the finances and determine if such a move would improve your ability to serve customers while remaining competitive.
Ahead of the storm, TQL moved emergency supplies, including bottled water, to major retailers’ stores in the impacted area, and provided warehousing and temporary trailer storage for diverted inventory. We didn’t see a ton of disruption from the port strike. It didn’t last very long. A lot of companies had prepared for it.
A study by E2open – the 2021 Forecasting and Inventory Benchmark Study: Supply Chain Performance During the Covid-19 Pandemic – provides the answers. I look forward to this study every year. The company provides demand and inventory planning solutions based on a public cloud architecture.
ARC Advisory Group, the company that I work for, releases a number of market studies on a number of technologies. These studies utilize a comprehensive bottom-up process for evaluating markets. Inventory Optimization Inventory optimization enables retailers to balance their inventory levels with capital investment constraints.
Inventory management is a crucial aspect of supply chain management, and effective strategies can help businesses reduce costs, improve customer service, and increase profits. But what does a great inventory management strategy look like? But consider, too, how you can turn those needs to your advantage in inventory management.
Before the pandemic, in a study of logistics providers conducted by Fraunhofer IML, among those embarking on digitalization initiatives, only 25% of logistics providers in the Fraunhofer IML survey are leveraging digital technologies to think outside the box and reinvent their foundational delivery model. The Crucial Role of Trading Partners.
Manufacturing companies that have relied on China for production materials are feeling the blowback of this dependence; some retailers source more than half their inventory from China, according to 2020 Statista data. In order to build a correct demand plan, one-off events have to be identified and accounted for,” wrote Ralf W.
3 min read On January 22nd, Log-hub and Miebach Consulting welcomed supply chain leaders and experts to Zurich for the Meet & Connect event. Key Highlights from the Event The event featured distinguished speakers who shared their expertise on critical supply chain advancements: Dr. oec. STILL CURIOUS?
3 min read On January 22nd, Log-hub and Miebach Consulting welcomed supply chain leaders and experts to Zurich for the Meet & Connect event. Key Highlights from the Event The event featured distinguished speakers who shared their expertise on critical supply chain advancements: Dr. oec. STILL CURIOUS?
Our Case Study: Journey Towards Continuous Improvement takes a closer look at how our analysts use best practice experience in analytics and continuous improvement to drive real change in logistics performance with our client. Investment in Working Capital Inventory. Download Case Study. Maintaining Strategic Differentiators.
Kicking off on August 19, the event lasted five days. As of August 26, the event’s jury had not decided which team will win the contest. . A recent study from BCG reports the problem is especially acute for produce. In all, 46% of total produce is lost each year, according to BCG. In all, it estimates some 1.6
This enables 3PLs to optimize inventory levels, reducing the risk of overstocking or understocking, even in uncertain economic times. Risk mitigation: By analyzing news and social media data, LLMs can help supply chain professionals anticipate potential disruptions, such as labor strikes, natural disasters or geopolitical events.
A powerful order and inventory management system can track inventory levels in real time, help identify short and long-term trends, automate critical re-order points, optimize order size and cadence , generate customized reports and so, so much more. In general, start with the method that offers the best use of available data.
According to the “The Total Economic Impact of Blue Yonder Luminate,” a commissioned study conducted by Forrester Consulting on behalf of Blue Yonder , Blue Yonder’s SaaS-based solutions do just that. The financial analysis from the study found that companies had a net present value (NPV) of $59.79m and a return on investment (ROI) of 394%.
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. Networking.
A McKinsey study found that 90% of supply chain leaders expected to transform their planning systems. Supply chains are systems, and the current retail inventory glut is the classic illustration of the bullwhip effect in action, the consequence of cascaded planning in silos.
This was my first in-person event in over two years, and it did not disappoint. You could feel the energy in the air as 450+ people seemed to really enjoy being back at an in-person event. This includes weather events, port strikes, capacity shortages, and unexpected demand spikes. The releases of Planning.AI
High e-commerce shopping rates combined with construction delays are causing a strain in the supply of new warehouse space, especially as companies shift their inventory management strategies from just- in-time (JIT) inventory management to larger safety stocks for better responsiveness.
Both anecdotal evidence and research studies demonstrate that enterprises leveraging these advanced capabilities have fared much better than other companies during the extreme volatility of the past two years. In a study commissioned by Blue Yonder, it is estimated that a typical $10 billion company can save $14.1
One of the biggest impacts of decoupling in the supply chain is that it helps minimize the impact of unexpected events. Spreading production across multiple countries or regions can mitigate the risk of production halts due to unexpected events. What are the impacts of decoupling in the supply chain?
Businesses continue to deal with inventory logjams, overwhelmed transportation networks and soaring freight rates supported with mistrusted service expectations. For example, businesses that provide decorations and supplies for holiday events often find order volume is compact and can be shipped on a few pallets with its LTL partners.
This LinkedIn Live Event is brought to you by BlueGrace industry experts: Mark Derks: Chief Marketing Officer Jason Lockard: Senior Vice President of BlueGrace Managed Logistics® Do you have more questions about this logistics topic? Join us as Mark Derks, Chief Marketing Officer of BlueGrace and Jason Lockard, Sr.
Geopolitical events. 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. In just minutes, BD was able to see and manage the delivery and order-fulfillment challenges created by this unforeseen event, in real-time.
A lot of data/information is communicated in batch and serial mode, sometimes hours or days after a transaction or event occurs. What is happening to BMW today is another case study in supply chain risk management. Within X hours of the event, we contacted all of these suppliers and determined that X supplier has shop floor damage.
This LinkedIn Live Event is brought to you by BlueGrace industry experts: Mark Derks: Chief Marketing Officer Jason Lockard: Senior Vice President of BlueGrace Managed Logistics® Do you have more questions about this logistics topic? Join us as Mark Derks, Chief Marketing Officer of BlueGrace and Jason Lockard, Sr.
Customer Testimonials & Case Studies. User reviews provide plenty of value, but more complicated operations can greatly benefit from customer testimonials and case studies. Look out for community events and talks, and don’t be afraid to initiate or participate in a social media takeover or two. Congratulations!
Freight rates have plummeted, brokerages are struggling, and the industry is still bloated with excess inventory. A famous 2010 HBR article, “Roaring Out of Recession,” studied how 4,700 public companies fared during the recessions of 1980, 1990, and 2000. 17% went bankrupt, went private, or were acquired. Faster order-to-cash.
Manufacturers, retailers and their logistics partners often managed supply and demand volatility by shifting scarce inventory among stores or distribution centers, or investing in expedited freight charges, without considering the real implications of these strategies on their long-term profitability. The study projects a risk-adjusted $31.2
The studies of science, technology, engineering and math (STEM) have shaped the logistics industry into what it is today. Emerging Technical Studies. Students studying the field of logistics work with innovation in mind , always striving to improve current logistics processes and eliminate product inefficiencies.
Plus, extreme weather events and changing storm patterns challenge seafaring vessels. By retrieving live information such as vessel position, weather forecasts and tidal flows combined with indicators such as vessel size, inventory or traffic, algorithms help to determine the expected arrival time. from originally 3.5%
Maintaining all past and future promotional events in a database. Maintaining outlier events that have influenced demand patterns or supply availability . Modeling the impact of weather events. Automatic identifying and removing outlier events from the historical data. Having accurate stock-out data. and Europe.
From new tech breakthroughs to changing customer expectations and unexpected global events, businesses need to stay flexible and ready to adapt. These tools can transform your supply chain, helping you predict inventory needs, automate repetitive tasks, and optimize delivery routes. Why it matters? What can you do? The evidence?
The premise of the study was interesting. Herzog said, “was a big event on our journey. P&G activated its business continuity plans and repositioned inventory so that when the hurricane passed, they could supply consumers with what they needed most. The goal should not just be to close the existing gaps.
According to psychology experts asked to comment on this phenomenon, the tendency toward panic buying is due to the nature of the Coronavirus event, which unlike more acute natural disasters, presents a largely unknowable prognosis relating to impact-timescales and intensity. percent of the country’s GDP.
Cantaloupe System uses the IoT to help monitor the temperatures of their vending machines, detect thieves, and monitor inventory. In the future, the IoT may allow vending machines to recognize dropping inventory, place orders for more product, recognize delivery of products, and generate a payment to the respective supplier.
Digital & Technological Integration Beyond basic warehouse management systems, 3PLs are adopting artificial intelligence and machine learning to optimize routing, predict maintenance needs, and improve inventory management. Sustainability Initiatives Environmental concerns are driving 3PLs to adopt green logistics practices.
Normally, logistics deal with events that bring the product towards the customer. Moreover, a recent study, says Banker, found that shippers are starting to realize that returns must be free. Many other studies indicated the real costs of the returns take up roughly 3%-5% of total revenue.
In fact, a recent study , in partnership with Edelman Data & Intelligence, found a broad increased level of confidence from supply chain leaders despite peak season disruptions among those that have successfully implemented data-driven, third-party resources to manage heightened activity levels.
If existing scenarios and events have triggered an assessment of your supply chain flow, you’re operating with a reactive design. If on the other hand, you’re considering events that aren’t in the process of happening right now, you’re proactive instead. Times Have Changed For Supply Chains.
In fact, industry studies show over three-quarters of shoppers are positively influenced to buy with estimated delivery dates (EDDs) displayed on the product page or in checkout. Other research indicates shoppers are more focused on specific delivery dates rather than simply ‘shipping speed.’ on order progress with fulfillment and delivery.
How Logistics Powers Super Bowl Food Favorites Show Submenu Resources The Logistics Blog® Newsroom Whitepaper Case Study Webinars Indexes Search Search BlueGrace Logistics - February 6, 2024 What’s a Super Bowl Sunday party without the quintessential foods that accompany it? However, during the Super Bowl, this model is put to the test.
This invite-only event brought together supply chain and IT executives from a cross section of companies, along with several executives from IBM, including Jeanette Barlow, Vice President of IBM Supply Chain Solutions, and Ron Castro, Chief Supply Chain Officer at IBM. IBM Case Study: Supply Chain Intelligence, Watson, and Resolution Rooms.
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