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Optimizing Business Output by Using VMI

In any business that deals in physical products, its inventory is its number one concern. Having a surplus means potential wastage and reduced efficiency, while having a deficiency means the inability to fulfill orders. Both situations are potentially disastrous to the business, and need to be prevented at all costs. As such, having an efficient inventory management solution is invaluable to any business. VENDOR MANAGED INVENTORY A vendor managed inventory (VMI) system is where the supplier or vendor holds the products [...]

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How Blockchain Technology Can Preserve Food Safety

Recently, there has been a large scale case of E.Coli outbreaks in the US, affecting mostly lettuce and lettuce based products. Due to the disastrous effects of the bacteria, keeping it away from customers is of the utmost priority. The difficulty in doing this arises from the near impossibility of fully tracing back a food product to its source. Between the restaurant that serves it and the farm that grows it, there may be a multitude of middlemen, each [...]

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Why You Should Have a Vendor Portal to Manage Suppliers

In today’s rapid business world, immediate and efficient access to information is a must. Along with your customers, suppliers and purchasing agents need the same level of info just as fast. The fastest and most cost-effective way to implement this is with a supplier vendor portal. Here are some of its benefits: SUPPLIER SELF-SERVICE Portals allow the supplier to have a high degree of autonomy. Inquiries that would have taken days or even weeks through a lengthy process of calls and [...]

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AI in the Supply Chain

Over the last few years, Artificial Intelligence (AI) technology has exploded, essentially going into every sector imaginable, from finance to film making. Supply chains are no different, with AI having expanded quickly already, and almost certainly going to expand more. These are the ways in which AI technologies are helping supply chains:SUPPLIER RISK MANAGEMENT: In any supply chain, your suppliers are not always reliable. Some shipments could be incorrect, delayed, or not even get sent. These kinds of problems are [...]

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The Significance of Forecasting in a Supply Chain

What is Forecasting? Senior business man searching new opportunities for his company In a supply chain, forecasting is the prediction of what to expect in the short and long term for inventory, orders, production, etc. The most common forecast is MRP or Material Requirement Planning. This takes into account customer demand, and looks into supply details like Bill of Lading, and sourcing info to give valuable information on inventory and how best to fulfill orders. Due to the variable nature of [...]

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How to Reduce Risk in Your Supply Chain – Step 2 – Mitigating

(This post is follow on to our previous blog on Supply Chain Risk Identification . You can read about it here: https://goo.gl/VqAbpj) After you’ve identified all of the risk factors in your supply chain, the next step is to reduce it as much as possible. For obvious reasons, some risk factors are easier to manage than others. Some risk factors that you can manage are, but not limited to: INVENTORY RISKS: This is one of the easier risks to manage. Using a [...]

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How to Reduce Risk In Your Supply Chain – Step 1 – Identifying Risks

All business comes with a degree of risk, and that’s not going to change. No matter how streamlined and fail-proof you make every aspect of your business, things can and will always go wrong. This is especially true for a supply chain, where an error in one place can drastically impact everybody down and even before them. The key is to find and reduce your risk wherever possible. This can be done in many ways, but the first step [...]

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Digitizing Your Supply Chain

Although most aspects of daily work have shifted online, one major activity has stayed grounded in the 1980s: data entry. Even today, where almost everybody has a smartphone, computer, etc. the vast majority of data entry for things like orders and purchases are still done via pen and paper. While this may seem simple, there’s a lot of reasons to switch to a digital data entry system Paperwork. 1. Save Time While filling out a few forms may seem faster than a [...]

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Types of Control Towers in Supply Chain

In our previous blog What is a Supply Chain control Tower we discussed the similarities between a Supply Chain control tower and airport control tower. Both provide similar functionality of visibility and control that are essential in managing the traffic. Supply chain control towers can be classified based on their functionalities or areas of operation. Analytical Control Tower – This type of control towers are used for Analysis Only. If any Corrective/Improvement actions are to be done, it was done in some [...]

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What is Supply Chain Control Tower

A control tower in the airport is used to provide visual control of all the incoming and outgoing flights. Though computers and monitors provide all the necessary data for managing the flight traffic, controllers still prefer to look through the glass walls of the control tower and make necessary decisions. A control tower in the Supply chain gives the same advantage of an airport control tower. It provides visual inputs for all the supply chain traffic for a company and [...]

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