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Supply shortages resulting in empty shelves or parking lots of WIP inventory represent a spectre causing supply chain leaders to reconsider supply chain inventory practices. Opinion of just-in-time (JIT) as a practice has taken a battering and inventory is rising. Is supply chain inventory the problem?
Despite frequent discussions about AI’s potential impact on jobs, the majority of logistics workers are untroubled by automation, according to a recent YouGov survey commissioned by SafetyCulture. FedEx ’s AI-driven route optimization technology adjusts delivery routes based on real-time data, improving delivery times and fuel efficiency.
BlueGrace describes this report as an important tool for measuring expected expansion or contraction within the logistics sector. The report observed that the market remains slightly less optimistic but remains in a holding pattern on inventory levels.
The survey of 200 IT decision-makers and cybersecurity leaders across the UK comes at a time when critical infrastructure attacks are increasing, particularly those targeting government, education and healthcare industries. Worryingly, it took more than two in five of organisations more than a week to recover.
These tools will become the foundation on which supply chain managers gain insight into their markets and erratic supply and demand trends. Another Statista study indicated that 44% of retailers expect delays and 40% expect inventory shortages given coronavirus disruptions on the supply chain.
By analyzing revenue, inventory levels and orders, shippers can gain a comprehensive understanding of market dynamics and position themselves strategically for success. Q3 reveals a positive trend in anticipated revenue, with only a 4% decrease reported across all shippers surveyed. Inventory optimization.
BlueGrace described this report as an important tool in measuring expected expansion or contraction within the logistics space. And he added that a much-needed boost in sales to clear out some inventory that has been stagnant for most of 2023 is welcomed. For inventories, BlueGrace observed that positive inventory sentiment saw an 11.9%
based non-asset-based 3PL BlueGrace Logistics, pointed to variation across some key metrics, including revenue, inventory levels, and order levels, with a forward-looking slant. BlueGrace described this report as an important tool in measuring expected expansion or contraction within the logistics space.
-based non-asset-based 3PL BlueGrace Logistics presented a mixed outlook, regarding things like revenue outlooks and inventory rebuilding, heading into 2024. Jeff Berman | Logistics Management December 11, 2023 BlueGrace described this report as an important tool in measuring expected expansion or contraction within the logistics space.
Design and engineering, production operations, maintenance, logistics, supply chain, business systems, customers, products, and organizational structure are subject to innovative change as companies examine and update processes and deploy new tools and technologies.” There are many areas of digital transformation within the supply chain.
Inventory is the biggest entry in the balance sheet of many distribution companies and fast deliveries are becoming increasingly important in today’s digital world – especially as an increasing number of people are working remotely. Here are some ways technology can help you simplify inventory management.
A 2023 survey by McKinsey reported that 79 percent of all respondents had at least some exposure to gen AI, either for work or outside of work. Recommendation tools: help workers identify the best methods for tasks, e.g. creating maintenance instructions. The use and discussion of AI has become common.
In a survey of 150 global manufacturing executives, 47% committed to improving supply chain visibility and tracking. According to the Global Supply Chain Disruption and Future Strategies Survey Report, this goal was the top-ranked planned tool investment. Agility to act on transparency.
We put together a survey with our partners at Districon to better understand these challenges and offer ideas for improvement. Industries that deal with lots of daily fluctuations were among the most heavily represented in our survey. The survey shows that volatility may have something to do with this staggering disparity.
In most cases, there has been a succession of tools that worked in some cases but were not broadly successful. The reason is that staff had to learn a different user interface (UI) for analytical tools to the UI they were accustomed to in their day-to-day operational activities when working with an ERP system. Review and refine.
Additionally, customer demand for green solutions is surging, with a McKinsey survey indicating that 60% of consumers are willing to pay a premium for sustainable delivery services. Predictive analytics tools enabled by AI are helping organizations optimize inventory management, reduce downtime, and improve demand forecasting.
While retailers would historically allocate inventory before it hit land, they are now making these decisions based on which port the merchandise will be arriving at. Manhattan is putting RFID in the store at the item level for improved inventory accuracy. This helps retailers decide how to best allocate inventory over multiple sites.
A survey SYSPRO fielded during the early days of the pandemic showed that 47% of businesses were unable to function because operational staff completely relied on on-premises resources, and 37% were unable to provide the remote work capabilities they required. Inventory management. 65% were diversifying their business.
And according to a recent survey by Kenco, 94% of survey respondents feel that it’s important for their 3PL provider to have a competency in technology and innovation, and more than half expect their 3PL provider to be investing in innovative technologies (another 32% want to co-invest).
This type of data must be actively gathered by researching market trends, analyzing the competitive landscape, conducting consumer surveys and focus groups. Accurate data forecasting requires accurate data, robust data analysis tools, and people who understand how to use them. Qualitative data is more subjective.
Supplier problems will cause a cascade of problems up and down the value stream, leading to supply order delays that cause inventory shortages, production disruptions, missed shipments and lost revenue. Establishing real-time shared visibility and processes with supply chain partners facilitates identification and resolution of issues.
A recent SYSPRO survey shows that only 45% of businesses have looked at systems to address supply chain disruptions and just 44% have investigated technologies that enable collaboration with external suppliers and customers. Instead, businesses have focused most their investments on inventory control and order requirements.
To examine supply chain management priorities, performance, and anticipated trends, APQC conducted its 10 th annual Supply Chain Management Priorities and Challenges research, including a survey of more than 350 supply chain professionals from around the world and across multiple industries. For more information on the research, click here.
Their associate engagement survey allows Ferguson to understand the driver’s impacting engagement across their 31,000 employees. The survey focuses on four engagement questions on advocacy, pride, satisfaction and commitment. 56% of employees surveyed were engaged. The company uses a network design tool from Coupa.
SYSPRO ’s 2020 survey, The Inflection Point for the Factory of the Future , showed that only about one-third (38%) of manufacturers’ business systems had enabled them to meet the challenges posed by the COVID-19 pandemic. Inventory is another huge headache. The pandemic made that impossible.
Global trade regulations and conflicts, as well as tariff threats as a political tool, could cut off sources and markets and push your business plan into the red. The system wasn’t prepared for the surge, driving up pricing for transportation and sapping inventory levels. Trade disputes and tariffs.
But it is possible to reposition inventory to better respond to such events. When inventory has been pre-positioned in readiness for disasters, it can support the third-party organizations that respond and assist communities. It may be impossible to ensure your business or organization is entirely natural disaster-proof.
And, in turn, they expect inventory to meet their demand. A 2018 Logility and APICS survey on supply chain priorities revealed that, 30% highlighted the need to respond to customer mandates for faster, more accurate and unique fulfillment as a top business priority moving forward. Inventory and Warehouse Management Softwares.
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. Run War Rooms for Daily Battle.
WAITING, WAITING, WAITING… According to a recent Trucker Tools whitepaper, wait times at shipper and receiver locations have increased compared to a year ago. Nearly 60 percent of those surveyed reported waiting for longer than two hours on each load. Freightwaves also collected data on driver wait times.
S till, most companies are “not very far” when it comes to implementing analytics and garnering benefits from data, as a recent survey from CSCMP suggests. Look for tools that require minimal data scientist resources, so you can implement and scale without depending on specialists.
Zebra Technologies Corporation today released the findings of its 2023 Global Warehousing Study, which confirmed 58% of warehouse decision-makers plan to deploy radio frequency identification (RFID) technology by 2028 which will help increase inventory visibility and reduce out-of-stocks.
Often a tool like a Failure Mode and Effect Analysis (FMEA) is useful as it serves as a checklist and ensures that the business is thinking about these issues and considering mitigation plans. The pandemic has shown that companies struggle to have the correct distribution of parts in the inventory holding. Work-in-progress inventory.
We’d go so far as to say that these loyal fans are your most precious business asset — more valuable, even, than your inventory — and that’s saying something, coming from a 3PL that stores inventory! Email vs. Other Forms of Communication For many years, email has been the gold standard of communication tools for DTC businesses.
According to one survey , only 27% of leaders believe that they have the talent needed to meet current supply chain performance requirements. A skills assessment survey was done to measure potential gaps against a pre-determined skills matrix. What should supply chain leaders be looking for to close the talent gap?
Many manufacturing companies still rely on Excel for all sorts of tasks including scheduling, inventory management and data analysis. However, today’s manufacturers need a more robust, effective, connected, and specialised tool to run their businesses. Collecting data for effective usage with business intelligence.
Many operations turned to lean manufacturing to take any inventory out of their pipelines that could put their supply chain on the line. Tools and moulds will need to be retrieved and intellectual property (IP) rights are tricky when it comes to ownership. Australian reshoring strategies for advanced manufacturing .
Yet a recent YouGov survey on AI reveals the top feeling most cited by the American public is “cautious” (54%), with “excited” only ranking 6 th (19%). This view is echoed in Canada and the UK, where consumers have a generally negative view on AI, in contrast to the positive view of most other countries surveyed by the XM Institute.
Survey results from ‘623 supply chain professionals across 17 countries’, concluded that one of the top industry challenges was ‘facing global competition’. However, technology also helps develop advanced tools that enable third party logistic providers (3PL) to gain a competitive edge.
From the manufacturing floor, to inventory and logistics, AI is a catalyst for efficiency, agility and accuracy. To understand the global impact of AI, Microsoft commissioned a survey that included 400 senior executives working within eight various markets. Big Data is also an incredible tool that helps technologies such as AI advance.
When my fiance heard about the price, he advised that I find a local hairdresser and set up a frequent-shopper account with them for a few months until the tool is back in stock. Critical inventory disruptions/deficiency anywhere in the supply chain. Network bottleneck identification. Response to disruptions.
These Generation Z graduates are strengthening an existing trend – 50% of millennials surveyed in an APICS report cited a strong corporate environmental responsibility program as a key factor in choosing an employer. Will you equip me for the journey? How can I build a career in supply chain?
It’s great to see the enthusiasm for this interactive tool. . None of the respondents share data across multiple applications to manage inventory, network design and S&OP in an integrated way. “Do you currently use advanced analytics to optimize your network?” It’s time to kick the spreadsheet habit.
Companies that have streamlined their supply chains experience a 15% reduction in supply chain costs, maintain inventory holdings below 50%, and achieve cash-to-cash cycles that are three times faster. [1] Inventory Management Balancing inventory levels is essential to avoid stockouts or excess stock.
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