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Many factors need to align for an organization to be able to source materials, produce a product and put it in the hands of customers. The pandemic has exposed flaws in business practices across industries, which have been acutely felt in their supply chain and procurement operations. Gap between supply chain and procurement.
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.
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.
How are companies leveraging scenario modeling for network design and optimization ? 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. Read on for common use cases. .
As a consequence, NVOCCs, logistics service providers, warehouse operators, and freight forwarders can improve their operations in terms of service quality, efficiency, and pace. Those that have embraced artificial intelligence have reported reduced costs, improved productivity, and more controllable margins or error.
Below is an excerpt from a report published recently by Amber Road and the American Association of Exporters and Importers (AAEI) titled “ The Trade Trends Report: 2017 Report on Sourcing, Trade, and e-commerce.” The findings were derived from an online survey of 250 executives at leading U.S.
Supply chain optimization ensures a smoother process and a more successful business model focusing on efficiency and profit. First, let’s define what supply chain optimization means, the different factors involved, and how the right supply chain optimization techniques and solutions can help you support your key business initiatives. . .
At Cerasis we work with our shipper customers who procure items every day and have needs for inbound freight management as they secure those products from their vendors. Increasingly, as we work with procurement folks at these companies, we are hearing that technology for better communication and to create more efficiency.
It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks. However, recent disruptions have highlighted the vulnerabilities of these complex networks, resulting in significant financial losses for companies.
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.
Earlier in 2022, we conducted a survey of 8,000 consumers across North America and Europe to get a better sense of their ecommerce experience and how they were reacting to retailer performance. Consumers are planning to buy more, but only a fraction cite improved home delivery performance. Source: Descartes & SAPIO Research.
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.
Optimizing the supply chain in this sector is crucial for enhancing efficiency, reducing costs, and maintaining competitive advantage. Highlighting the Impact of Supply Chain Optimization in Oil & Gas Industry Understanding the tangible benefits of oil and gas supply chain optimization is essential for industry stakeholders.
As disruptive events occur along the digital thread, the entire organization can act in a fluid, connected manner to optimize costs, service levels and other outcomes. Blue Yonder commissioned a study to examine the real-world financial benefits of advanced supply chain solutions, and the benefits are clear.
Much of this newfound optimism is attributable to a record jobs report in January – and yet we’ve seen a spate of layoffs in tech and other industries. A famous 2010 HBR article, “Roaring Out of Recession,” studied how 4,700 public companies fared during the recessions of 1980, 1990, and 2000.
To improve the entire network’s responsiveness to increasingly shortened lead times, trading partners are working together to seamlessly manage product flow throughout the supply chain and across all fulfillment channels ? And Agility Can Help Improve Profitability Too? blockchain), and video-based collaboration/content sharing.
Some organizations invested in solutions that offer little more than knee-jerk reactions, resulting in not-obvious improvement to the bottom-line or even net losses. An example is carrier network services for executing a cohesive set of first-, middle- and last-mile operations and optimizing common carriers and fleets.
A new study from the University of Tennessee, Knoxville’s Global Supply Chain Institute suggests some of the fault resides in the tendency of organizations to omit supply chain considerations when assessing a new product’s business case. “A Note: This article originally appeared on the University of Tennessee Knoxville website.
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. Similarly, a 2021 study from McKinsey showed that just 19% of companies that had adopted Industry 4.0
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.” Meanwhile, inventory optimization and production scheduling are more of a black box.
The following five mini case studies explore a few high-profile companies that have managed to sustain their supply chain cost reduction efforts and keep expenses under control. The company also increased its use of third-party logistics providers and effectively created a network that could be tactically optimized at any given point in time.
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. The premise of the study was interesting.
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. Procurement costs.
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. Procurement costs.
How are companies leveraging scenario modeling for network design and optimization ? 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. Read on for common use cases. .
A McKinsey study found that 90% of supply chain leaders expected to transform their planning systems. A survey by boom! A snapshot may optimize one link but won’t optimize the chain. In a recent interview , Senge points to a study of HP, a company well-known for its technological.
The promise of the Internet of Things (IoT) to connect anything that can be connected to improve operations, solve business problems and control costs is resonating in boardrooms, operations teams and IT departments. Business leaders and OT/IT decision-makers are feeling optimistic about what the IoT can accomplish for their organizations.
However, a new study shows that the deterioration in receivables is masked by a significant slowing of payments to suppliers. significantly improved their ability to generate cash in 2017, producing the strongest working capital performance since 2008. Increasing DPO keeps cash on the balance sheet longer and improves cash position.
The speed of business is fast and companies that aren’t successful in adopting, implementing, and optimizing new technologies run the risk of being left behind. A GT Nexus study found 75 percent of respondents describe digital transformation of the supply chain as “important.”. This is concerning. Harnessing Big Data.
Optimizing your website for mobile and offering mobile wallets and easy payment apps are more important than ever. Competing with Amazon A Criteo survey found that when all other things are equal (i.e., These studies bode well for independent sellers that want to reduce their dependence on Amazon.
The following five mini case studies explore a few high-profile companies that have managed to sustain their supply chain cost-reduction efforts and keep expenses under control. The company also increased its use of third-party logistics providers and effectively created a network that could be optimized tactically at any given point in time.
Now in its ninth year, E2open’s 2019 Forecasting and Inventory Benchmark Study is the most consistent, comprehensive and useful study of its kind. What’s more, the data from this study doesn’t come from surveys and questionnaires, it is sourced from real data from E2open’s diverse customer base.
Nearly two-thirds of businesses responding to the 2020 Gartner Sustainability Survey said they were pressured by customers to invest in sustainability initiatives while 48% said pressure was coming from investors and 48% cited regulators. The driver is happier and the carrier’s margins have improved. Leaf Logistics Inc.
Port Everglades’ landside operations resumed Thursday morning and waterside operations are expected to resume Thursday, pending channel and berth damage surveys. A major general merchandise retailer we work with has delayed all non-perishable inbound freight into Tampa for a week,” Byrne told Sourcing Journal.
A study by Wharton Business School found that this group is mainly interested in supporting brands that are ethical, caring and strive to do the right thing. Content Summary: The company purchases renewable energy certificates to match its non-renewable energy use and it funds renewable energy production from sources like wind and solar.
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. The modern CFO. According to the 2021 SYSPRO CFO 4.0 Diversification of business operations. The SYSPRO CFO 4.0
A study by Harvard Business Review in 2019 found that products that were marketed as sustainable grew 5.6 Everything from raw material sourcing, to production to the impact of logistics and supply chain of the said product on the environment. To plan for the long haul, businesses can optimize delivery networks with Locus’ NodeIQ.
What makes Ethereum different is that it actively encourages software development teams to use its open-source protocol to design tokens that run on top of the Ethereum blockchain. Provenance ensures transparency in supply chains, with the aim of encouraging brands to source materials and labor in an ethical and fair trade manner.
Zebra Technologies Corporation has announced the results of its ‘Food Safety Supply Chain Vision Study’ The study highlights the views of consumers as well as food and beverage industry decision-makers worldwide from distribution and warehouses to grocery stores and restaurants around safety, traceability and transparency.
Glenn Taylor | Sourcing Journal November 02, 2023 In an improving sign for the retail supply chain, the majority of shippers surveyed by third-party logistics (3PL) provider BlueGrace Logistics—64.4 percent—are optimistic about revenue growth in the fourth quarter. This is a slight jump from 61.7 percent compared to Q3’s 13.3
This tech-savvy group can be a great source of new ideas and innovative solutions for managing the supply chain of the future. Source: SCM World. 30% of respondents in an APICS survey stated lack of knowledge transfer or training was a key challenge, among the top 5. Having a strong sense of purpose is also important.
AGCO’s ability to predict when shutdowns would occur improved over time. One of the players in this market, Resilinc, is monitoring 105 million data sources. Supplier collaboration through the solution includes workflow collaboration for action planning, risk assessment surveys, and data sharing via the supply chain network.
Case Study. So, to learn more about these challenges and how companies are addressing rate increases, capacity restraints, and other issues, we sponsored a survey. Although LTL rates have been rising over the last couple of years, 81% of surveyed companies saw their LTL contract rates increase between 2021 and 2022. Whitepaper.
In a nutshell, the main advantages of supply chain risk diversification are minimizing potential supply chain-related disruptions, having more negotiating power, improved resilience, and access to new markets. Competition among suppliers can lead to improved pricing and contractual terms, and increase profitability.
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