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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.
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). Bringing Analytics to Supply Chain Management. But 44% of respondents didn’t have a plan to deal with it.
It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks. From natural disasters to geopolitical tensions and the ongoing COVID-19 pandemic, supply chains have been significantly impacted.
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. Alex Zhong, Director Product Marketing at GEP.
In order to optimize manufacturing operations, or really just about anything, you need to have at your fingertips the best and most accurate manufacturing metrics around. In today's post, we share 5 Golden Manufacturing Metrics that all manufacturing companies should understand to improve plant operations quality.
Our annual salary survey reveals that the typical material handling and logistics professional earns $93,697. purchasing/procurement manager with a manufacturer of building equipment with 21-25 years of experience, living in the South Atlantic region and earning $36,00. Minority Report. Show me the money.”.
Take the Survey. In pursuit of helping businesses put their supply chains at the heart of customer experience, we’ve put together a market survey to poll industry professionals. As an exchange for survey participants’ time, Turvo will provide a complimentary report to those who complete the poll.
When shoppers were asked what would put them off making more ecommerce purchases in the future, 21% indicated they’d had negative delivery experiences, 20% said deliveries were not reliable, and 17% were dissatisfied with the delivery process. Similarly, maintaining a strong chain of custody (e.g.,
A new survey conducted by Consumer Reports (CR) and the Union of Concerned Scientists (UCS) shows that 63% of prospective car buyers in America have some interest in electric vehicles (EVs). Breaking this down, 31% would consider one for their next purchase, 27% would consider one at some point down the road and 5% say […].
The results have been tabulated for the 68th annual Survey of Distribution Operations. This report is crucial in determining the direction in which the distribution business is headed. This year the trend continues, as 83% of the surveyed group reports as MRO (maintenance, repair, and operations) carriers.
Following the FMCSA Truck Leasing Task Force final report, which recommended abolishing carrier-controlled lease-purchase programs, survey results show nearly half of Overdrive readers who've ever started such a lease ended with the truck's title.
So, let’s take a look at how our predictions for the first four manufacturing technology trends (Predictiveanalytics, 3D Printing, and VR) to watch for in 2016 stacked up. PredictiveAnalytics Became Commonplace to Manufacturing. Clearly, the IoT has caught on much faster than experts could have hypothesized.
E-commerce platform Yotpo reported that 88% of fashion shoppers surveyed have returned fashion items purchased online in the […]. While they have always been an integral part of shopping, online orders are significantly increasing their presence in the retail and e-commerce industries.
They surveyed over 1,400 online shoppers to analyze their habits, preferences and expectations. The report suggests that customer priorities are shifting, moving away from things such as the use of gift-like packaging or prioritizing fast deliveries over product quality. Omnichannel is Omnipresent. Clothing, Tech and Beauty.
We explore how predictiveanalytics and big data with human sentiments can add value and amplify their supply chain strategies. What this blog is about: Leveraging predictiveanalytics for forecasting and visibility. It is certainly harder to run an enterprise without forecasts or with incorrect future predictions.
Logistics Business conducted a reader survey with BlueBotics on the usage of automated vehicles in the warehouse. The survey results have now been published and are available to read or download here. We hope you find it useful and will be bringing you further surveys in future. And, what might happen next?
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. The State of Supply Chain 2016 Trends.
A National Retail Federation report found that 92% of companies surveyed had been a victim of organized retail crime in the past year. The report found that 92% of companies surveyed had been a victim of ORC in the past year and that 71% said ORC incidents were increasing.
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?
billion, according to a report from the National Retail Federation. billion on costumes (purchased by 68% of Halloween shoppers), $2.7 Pet costumes continue to gain popularity, with nearly 20% of celebrants planning to dress their pets in costumes this year, up from last year’s 16%, the federation reports. Out of the 31.3
In MIT’s State of Supply Chain Sustainability 2021 , 80% of executives surveyed said the pandemic either had no impact on their commitment or increased it. PwC reports that almost half of assets under management are held by investment firms committed to decarbonization.
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.
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.
Manufacturing Purchasing Managers’ Index slowed to 54.7 The slowdown was expected by economists surveyed by Bloomberg. The report indicated that higher prices were linked to “new trucking regulations, higher raw material prices (in part driven by tariffs), and supply shortages (especially for electronics components).”
Companies knew this, which is why 93% of senior supply chain leaders surveyed in May 2020 by consulting firm McKinsey planned to increase inventories of key products and materials while also diversifying their supply base and localizing or regionalizing both supply and production. A change to one link (e.g. on-time delivery).
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. Sourcing and supply chains working in a siloed manner can cause significant delays, resulting in lost revenue upside while escalating costs.
The concept of an index, reporting the market price for a specific good, was developed precisely for this reason. As a result, nearly every industry has created on-demand metrics to gauge market performance, hedge risks, and to power intelligent decisions. But despite its size, containerized freight’s poor visibility persisted.
Just last month I noted that warehouse labor productivity was hindered extensively by COVID-19 and that 80 percent of ARC’s warehouse survey respondents anticipate an increase of order throughput volumes in 2021. The Conference Board published a report in May titled “ Labor Shortages are Making a Comeback ”.
A recent ARC survey looked at reasons to address sustainability. This survey included over 400 respondents across a number of industries. For example, most people expect free next-day delivery for online purchases as a result of Amazon Prime. And more consumers are looking at sustainability as a key motivator for purchasing.
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.” Ulula utilizes analytics to improve the working conditions for workers across global supply chains.
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.” Financial insight feeds into equipment purchasing decisions. Request a SONAR Demo.
The hottest stories in freight can be found here, in the Weekly Freight Report: 1. The good news is, rejections typically have a natural ceiling and the analytics at Freightwaves believe we are nearing that point. A recent survey shows consumers and retailers are feeling confident about holiday fulfillment. This is up from 33.9%
Or have these concerns been replaced with cost-price inflation and compressed profit margins? These are questions ARC Advisory Group will seek to answer in our online survey research of supply chain executives over the next few months. The report for August (released in late September) shows negligible changes in the aggregate.
Some supply chain companies are leaning on the power of analytics to help streamline their processes and get ahead of their competitors. But many companies have struggled to embrace the relationship between using analytics and implementing changes that can improve business performance. The simpler the model, the more likely the use.
In the third annual State of Sustainable Fleets Market Brief , released today and available at no cost, transportation fleets continued to report a resounding trend — their use of clean fuels and advanced vehicle technologies is rapidly progressing. is a supply chain sponsor of the report. Report authors surveyed nearly 250 U.S.-based
With PestPac Business Analytics, you gain the power to easily view and explore your business’s data in a way that makes sense and enables you to plan for the future of your business. The Power of PestPac Business Analytics. Billing Reports. Billing Metrics. At a Glance.
Teradyne, which reports earnings on Tuesday, warned investors in its 2022 annual report about the potential impact of the October regulations, and in October 2023 said the restrictions hit both Teradyne’s sales to certain companies in China and its manufacturing and development operations. billion worth, the survey found.
An understanding of these dynamics was the goal of ARC’s survey-based research conducted with DC Velocity earlier this year (see DC Velocity Infographic in June 2021 issue). Our survey was conducted with respondents across manufacturing, wholesale, retail, and logistics service provider (3PL) sectors.
However, the CPI report did state, “ the index for used cars and trucks rose 0.2 The July 2021 Manufacturing ISM Report On Business shows that economic activity in the manufacturing sector grew in July, with the overall economy notching a 14th consecutive month of growth. Used cars and trucks were up 41.7%.
The return rate on e-commerce purchases is typically at least double that of in-store purchases. In my latest omni-channel fulfillment survey, respondents were asked about how they handle returns, from a process standpoint as well as from a cost recovery standpoint. The same is somewhat true for returns.
As legislation focuses ever more heavily on environmental protection though, and consumers increasingly consider sustainability in their purchasing decisions, all supply chain organisations will need to find the way forward. Meanwhile, Big Data analytics, AI, and machine learning can have a significant impact on supply chains.
Companies based on assets have had years of experience in purchasing trucks and managing warehouse inventories. What Data Analytics and Business Process Strategy Services Are Offered? Shippers report capacity as their top concern for selecting a 3PL service provider, specifically 65 percent of surveyed shippers.
Even if this retailer had used AI to forecast my purchase, AI that creates a perfect plan but fails to execute it only results in a highly-efficient silo, as Northeastern University professor Nada Sanders says. As supply chains have grown in complexity and length, siloed thinking and processes are no longer able to meet this objective.
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.
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