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Many of today’s manufacturing trends are in line with the industry’s goals to improve processes, create more efficiency, and meet consumer demand. The manufacturing industry has seen challenges, from changes in the way people work to the rapid growth in demand, with many of these challenges accelerated by the recent covid-19 pandemic.
When the COVID-19 pandemic hit, some of the challenges it posed to manufacturing and distribution were new. I grew up in manufacturing. My family owned a manufacturing operation, so I experienced firsthand the challenges that mid-market manufacturers face. Manufacturers need a single source of accurate information.
Over the last decade, the role of the manufacturing and distribution CFO has undergone a profound shift. survey , 57% of manufacturing CFOs agree that proficiency and knowledge to create an effective plan to operationalize and transition the business into a digitalized and automated manufacturer is the most critical factor globally.
His primary research stream examines firms’ logistics operations, with an emphasis on studying motor carrier safety, productivity, pricing dynamics, and driver turnover. He was recognized as the undergraduate faculty member who had the greatest impact on students based on the 2017 graduating senior survey. Supplier development.
His primary research stream examines firms’ logistics operations, with an emphasis on studying motor carrier safety, productivity, pricing dynamics, and driver turnover. He was recognized as the undergraduate faculty member who had the greatest impact on students based on the 2017 graduating senior survey.
It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks. Make to Order: Here, products are manufactured based on specific customer orders. It directly affects the bottom line, making it crucial to manage effectively.
According to a survey by ARC Advisory Group, only 10% of industrial companies are ready to apply artificial intelligence/machine learning. ARC has been actively studying industrial AI for over two years. ARC has been actively studying industrial AI for over two years. The company has 55 manufacturing sites across the world.
in manufacturing dominance. 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. Indeed, by 2010, China surpassed the U.S.
Our 2018- 2019 Network Design Survey showed that the majority of organizations are still relying on spreadsheets (nearly 60%) and gut feel (15%) to make network design decisions. Another use case we see for scenario modeling in the current context is evaluating new sourcing locations. Read on for common use cases. .
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). Kristi Montgomery, VP of innovation, Kenco.
Mr. Daniels reports they have 870 employees, so based on a market study recently completed by ARC, this claim is credible. Additionally, they are tracking 5 billion pounds of goods back to their original source to ensure a wide variety of compliance standards are met. First, it is done through surveys.
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.
In late 2023, Descartes conducted a survey of 1,000 supply chain and logistics decision-makers across North America and Europe across three sectors: manufacturing, distribution and retail; carriers; and logistics services providers. The study also provided insight into what companies are doing to address it.
But it’s important to remember that while customers want their purchases fast, sometimes even the next day, many care about the environmental impact of that delivery as well. An IBM study found that 57% of consumers are willing to change their shopping habits to protect the environment. One example is Scandinavian furniture giant Ikea.
While lean manufacturing and just-in-time were game-changing concepts when they were introduced, agility and resilience must be taken to an entirely new level post pandemic. 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 a survey of 54 senior executives, only about one in four believed that the processes of their companies balanced cross-functional trade-offs effectively or facilitated decision making to help the P&L (profit and loss) of the full business.” There is a known problem for manufacturers in synchronizing their supply chain.
According to one survey , only 27% of leaders believe that they have the talent needed to meet current supply chain performance requirements. AGCO is an agricultural equipment manufacturer. Ronan Stephens is the senior vice president of supply chain management and external manufacturing at Ipsen.
For AGCO, a public company with over $11 billion in revenues, a supply chain risk management application helped the agricultural equipment manufacturer stay agile during COVID. One of the players in this market, Resilinc, is monitoring 105 million data sources. AGCO Stayed Nimble during the Pandemic. This data needs to be curated.
Some manufacturing, consumer brand, retail and logistics service companies made ambitious goals to delight customers through digital transformation but in some cases significantly eroded profit margins. Plan and Execute for Success.
In its simplest form, fourth-party logistics is a model in which manufacturers hand over the entirety of the organisation and oversight of their supply chain to a 4PL provider. the digitisation of manufacturing. This outsourcing allows the company to focus on its core manufacturing business and higher-value projects.
According to a survey by Deloitte from 2014, 79 % of companies with high-performing supply chains achieve revenue growth superior to the average within their industries. In 2014, a survey by Tompkins Consortium delivered a shocking revelation. Mini Case Study: Walmart. Mini Case Study: Whirlpool. Supply Chain Strategy.
Brands that allow consumers to purchase without leaving the social platform they’re on have an advantage over brands that don’t, but only if consumers can easily navigate the product catalog and checkout process. For the first time, mobile purchases have overtaken desktop purchases. Mobile Takes the Lead Of the $9.8
Heavily relying on a single sourcing location can leave businesses vulnerable to disruptions, whether they are geopolitical, environmental, or economic. Trade wars, local conflicts and potential health emergencies highlight the vulnerability of supply chains that are heavily dependent on a single source.
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. This new behavior means that manufacturers and retailers need to anticipate consumer needs across channels with more accuracy than ever.
The Cost of Supply Chain Disruptions Recent studies, including one conducted by Accenture , have highlighted the staggering costs associated with supply chain disruptions. Industrial equipment manufacturing emerged as the most impacted sector, with companies missing out on 7.4% The research found that disruptions led to a whopping $1.6
Function 2: Optimizing manufacturing processes. Companies are optimizing their manufacturing processes through artificial intelligence. Information is gathered from multiple sources, validated, then analyzed to make appropriate adjustments to the manufacturing process. Another 53% reported increased revenues. Wrapping up.
Expedited Freight Questions Answered Show Submenu Resources The Logistics Blog® Newsroom Whitepaper Case Study Webinars Indexes Search Search BlueGrace Logistics - November 10, 2023 Whether your organization uses expedited freight shipping every day or occasionally, it pays to understand how to use these services as effectively as possible.
Take Germany, for example: the “Trends in Logistics & SCM” study conducted by the German Logistics Association BVL in 2023 shows that cost pressure was the most important topic for decision-makers in 2016, but in 2023 it only ranks fourth. Things were different a few years ago.
GEON Performance Solutions purchases plastic pellets and add plastic compounders to make products of different strength, resilience, and flexibility. Mr. Sorenson has studied integrated business planning for many years. Sorenson has studied integrated business planning for many years. Dean Sorenson concurs.
According to a study conducted by the global technology research firm Gartner , 38% of supply chain executives worry that their companies are not set up to handle the problems that lie ahead for the next two years. There is much to be done, and we must act immediately.
One of the challenges in the agribusiness sector, as research from the Netherlands has shown, is to resolve the mismatch between famers and manufacturers, and between manufacturers and customers, about what is important and therefore what should be measured. Variations on this accounting theme appeared to try to remedy the situation.
According to a McKinsey survey, 60% of companies in 2024 have invested in digital tools to improve supply chain resilience. Diversified Supplier Networks Companies started sourcing the materials from various suppliers across regions to avoid relying on a single point of failure.
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