Efficient Shipments Inbound Receiving

  On Time Delivery as a process does not stop when material is delivered to stores; rather, it encompasses the whole system from production to consumption of a product. The more efficient a receiving method is, the faster material can be received, accounted, and stocked. The barcodes on Advance Shipment Notices (ASN) allow for faster receiving with just a scan. The underlying data for the material has already been sent electronically, so the only step left is just the scanning of [...]

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Inventory Visibility – Beyond ERP

Inventory Visibility Inventory is a key part of any business. Manufacturing, Distribution businesses depends on availability of correct inventory. Important feature of inventory is its visibility. If the inventory lies in a corner of the warehouse and not visible to Planners, it will add to inefficient resource utilisation   ERP and Inventory Visibility Most of the business today, depends upon their In-house ERP system for inventory visibility. WMS (Warehouse Management system) linked to ERP system provides a good visibility into the inventory inside [...]

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Collaborative Planning in Supply Chain – Share your Forecasts

Forecast Collaboration How to reduce Supply Chain Planning cycle time and inventory levels? How to automate inventory replenishment? What will happen if one of my suppliers reduce capacity on one of their plants? How do I inform my suppliers when my customers reduce their demand? All the above questions are asked by Supply chain managers frequently when they are planning their supply chain horizon. Collaboration is the key answer to all these questions Current Collaboration Status Today’s collaborative planning process is mostly a collection of disconnected [...]

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Vendor Managed Inventory (VMI) – Visibility is the Key

   VMI (Vendor Managed Inventory) is the one of the best Inventory Management tools that will reduce the inventory carrying cost. By making your suppliers carry the inventory on behalf of you, you are reducing the risks and costs of inventory obsolescence. In VMI process, the supplier is expected to carry the inventory and make it available as and when it is needed. Customer pays only the for the inventory they have pulled or consumed. VMI Location The vendor managed inventory may [...]

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Why Forecasting is Important in the Supply Chain

What is Forecasting? Within 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 a supply chain, forecasts are not always exact, [...]

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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? 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 a supply chain, forecasts are not always exact, [...]

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