Organisations have turned to Six Sigma as a transformative methodology in relentlessly pursuing operational excellence and customer satisfaction. However, Six Sigma is more than just a set of tools; it’s a culture of continuous improvement deeply ingrained in the organisational DNA. This comprehensive article takes an in-depth look at the Six Sigma roadmap, emphasising its cultural aspects, and presents compelling case studies to underscore its real-world impact. Furthermore, we delve into the pivotal role of leadership in fostering this culture of excellence.
The global freight forwarding industry is a vital part of the international trade and logistics sector, as it provides services for transporting goods across borders by various modes of transport, such as air, sea, road, and rail. Freight forwarders act as intermediaries between shippers and carriers, arranging their clients’ best routes, rates, and documentation. They also offer value-added services, such as customs clearance, warehousing, distribution, and insurance.
Optimizing warehouse operations in today’s fast-paced business environment reduces waste and improves efficiency. Lean warehouse management is a philosophy and practice designed to achieve just that. This article explores implementing lean warehouse management principles to streamline operations, eliminate waste, and enhance overall performance.
Incoterms, short for International Commercial Terms, are a standardized set of internationally recognized terms that define the roles and responsibilities of buyers and sellers in international trade transactions. Established by the International Chamber of Commerce (ICC), these terms provide clarity and uniformity in global trade by specifying who is responsible for various aspects of the shipment, including transportation, risk, and cost.
Brisbane, Australia, is facing serious traffic challenges as the city prepares to host the 2032 Olympic Games. According to the RACQ, the peak motoring body in Queensland, congestion levels on Brisbane’s roads are now worse than pre-COVID levels, largely due to the impact of coronavirus restrictions and the reluctance of commuters to return to the state’s public transport network¹. The RACQ found that congestion levels for the month of February 2021 were well above average compared to previous years, with Tuesday, February 2, seeing 90 percent more congestion on Brisbane’s roads than the same date in 2019 and 2020.
Category management strategy is not just a buzzword; it’s a dynamic approach that can revolutionize how organizations procure and source goods and services. Businesses can optimize their performance by categorizing these items based on shared characteristics, objectives, or demand patterns, aligning them more closely with customer needs and organizational goals. In this article, we will delve deeper into the concept of category management strategy, exploring its intricacies, benefits, and real-world applications.
Customer-centric organisations put their customers’ needs, preferences, and values at the core of their business strategy. They aim to provide an outstanding customer experience that builds loyalty and advocacy. Customer-centricity is not only a marketing tactic but also a culture and a mindset that permeates the entire organisation.
In a world enamored with success stories, it might seem counterintuitive to champion failure and adversity. However, if one delves deeper into the annals of great leadership, a surprising element emerges—resilience. There’s a compelling case to be made that the crucible of setbacks and challenges moulds the most effective leaders.
Customer service is vital to any retail business, shaping the shopping experience and influencing customer satisfaction. How retail stores in different countries handle customer interactions can vary significantly due to cultural, economic, and societal factors. This article will compare customer service in Indian and Australian retail stores, highlighting key differences and similarities.
In the age of digital transformation, e-commerce has become a global phenomenon, redefining traditional retail landscapes. This radical shift has also permeated Supply Chain Management (SCM), driving businesses to innovate and adapt. This article explores the nexus between e-commerce and SCM, illustrated through intriguing case studies.
In today’s dynamic and complex business environment, companies face many risks that can impact their operations, profitability, and reputation. Identifying these risks and implementing effective mitigation strategies is vital for sustainability and success. This article explores common business risks and offers strategies for mitigation.
Six Sigma is a set of techniques and tools aimed at process improvement by identifying and removing the causes of defects and minimising variability in manufacturing and business processes. On the other hand, GAP analysis compares actual performance with potential or desired performance. By identifying these ‘gaps,’ organisations can plan accordingly to achieve their goals.
In the dynamic landscape of modern business, inventory planning has emerged as a crucial aspect of maintaining operational efficiency, meeting customer demands, and optimising resources. One of the key tools at the disposal of businesses for effective inventory planning is forecasting. Almost everyone recognises the value of forecasting, but the real challenge lies in how these forecasts are generated, refined, and leveraged to achieve the best possible outcomes. In this article, we delve into the significance of forecasting in inventory planning and explore the various approaches that organisations adopt to harness its potential.
The Role of Forecasting in Inventory Planning
Inventory planning essentially revolves around the delicate balance between demand and supply. Organisations must ensure that they have enough products in stock to meet customer orders and demands, while also avoiding overstocking, which ties up valuable resources and capital. This is where forecasting comes into play. Forecasting involves predicting future demand patterns based on historical data, market trends, and other relevant factors.
Forecasts provide insights into how much of a particular product should be stocked, when it should be restocked, and how inventory levels might fluctuate over time. Accurate forecasts enable businesses to allocate resources effectively, reduce carrying costs, optimise production schedules, and maintain high levels of customer satisfaction. In essence, forecasting serves as a strategic tool that empowers organisations to make informed decisions about their inventory.
There are several quantitative techniques used in inventory forecasting. These techniques use past historical data to predict future inventory levels. Some of the quantitative techniques include Simple Average, Simple Moving Average, Weighted Moving Average, and Exponential Smoothing. These techniques use Time Series or Associated Model to make predictions.
Essential data elements required for accurate inventory forecasting include current inventory levels, outstanding purchase orders, historical trendlines, forecasting period requirements, expected demand and seasonality, maximum possible stock levels, sales trends and velocity, and customer response to specific products. On a strategic level, forecasters need insights into organisational goals, local or global supply chain challenges, planned marketing pushes and campaigns, potential media influences—such as that celebrity endorsement—and the competitive landscape.
The Challenges of Forecasting
While the concept of forecasting is well-understood, the process is far from straightforward. The complexities arise from the unpredictable nature of markets, the influence of various external factors, and the limitations of available data. Moreover, different products and industries exhibit unique demand patterns, further complicating the forecasting task.
Traditional forecasting methods often rely on historical data and statistical algorithms. While these methods can be effective to some extent, they might fall short when faced with sudden market shifts, seasonality changes, or the introduction of new products. This is where the human element comes into play. Human intuition, industry knowledge, and the ability to factor in qualitative insights can significantly enhance the accuracy of forecasts.
Everybody Forecasts, but How?
Every business recognises the importance of forecasting, but the approaches they employ can vary widely. Here are some common methods that organisations use for inventory forecasting:
• Statistical Forecasting: This involves using historical data to identify patterns and trends, which are then extrapolated to make predictions about future demand. Techniques such as moving averages, exponential smoothing, and time series analysis fall under this category. While statistical methods can be effective for products with stable demand patterns, they might struggle with unpredictable shifts.
• Collaborative Forecasting: This approach involves gathering input from multiple stakeholders, such as sales teams, marketing departments, and even customers. Collaboration helps incorporate diverse insights and viewpoints, leading to more accurate forecasts. However, it requires effective communication and data sharing among teams.
• Market Research and Trend Analysis: Monitoring market trends, consumer behavior, and industry reports can provide valuable insights into potential demand changes. This method is particularly useful for industries influenced by rapid technological advancements or shifting consumer preferences.
• Machine Learning and AI: With the advent of advanced technologies, machine learning and artificial intelligence are gaining traction in inventory forecasting. These techniques can process vast amounts of data, identify complex patterns, and adapt to changing conditions. Machine learning models can incorporate both historical data and real-time inputs, making them suitable for dynamic markets.
• Qualitative Judgment: Sometimes, the uniqueness of a situation demands a qualitative approach. Industry experts or experienced professionals might rely on their judgment to forecast demand. This method can be particularly useful when historical data is scarce or unreliable.
The Integrated Approach: Combining the Best of Both Worlds
In reality, the most effective inventory forecasting strategies often combine multiple methods. This integrated approach harnesses the strengths of various techniques to create a more accurate and adaptable forecasting system. For instance, organisations might use statistical methods as a baseline and then fine-tune the forecasts using inputs from sales teams and market trends. Alternatively, machine learning algorithms can analyse historical data while being adjusted by qualitative insights from industry experts.
Continuous Improvement and Adaptation
One of the critical aspects of effective inventory forecasting is the recognition that it’s not a one-time task. Markets evolve, consumer behaviors change, and external factors emerge unexpectedly. Therefore, businesses must adopt a mindset of continuous improvement and adaptation. Regularly reviewing and refining forecasting models, incorporating real-time data, and adjusting strategies based on performance can help organisations stay agile in a dynamic business environment.
Precise inventory forecasts are pivotal in dynamic markets. They combine data analysis, business experience, and foresight to predict demand fluctuations. Key elements include current inventory, purchase orders, historical trends, seasonality, sales velocity, and customer response. Strategic insights encompass organisational goals, supply chain challenges, marketing impact, media influences, and competition. This fusion of science and intuition yields forecasts that steer businesses through uncertainties, ensuring optimal inventory management and customer satisfaction.
In the modern business landscape, inventory planning is a strategic necessity, and forecasting plays a pivotal role in optimising this process. While almost every organisation recognises the importance of forecasting, the real differentiator lies in how these forecasts are generated and applied. From statistical methods to collaborative approaches, machine learning, and qualitative judgment, there are various paths to effective forecasting. The key lies in finding the right mix of approaches that align with the unique demands of a business and its industry. With continuous improvement and adaptation, organisations can navigate the complexities of inventory planning with confidence, staying ahead in an ever-changing market.
Once upon a time, in a small town called Leadville, there was a struggling toy manufacturing company named PlayWise Toys. The company faced various challenges, including inefficiencies in its production process, excessive lead times, and customer complaints about delayed deliveries. One day, a young and enthusiastic process improvement consultant named Emma arrived in Leadville, determined to help PlayWise Toys overcome its problems and become a successful company again.
In the era of information, data has become the lifeblood of modern societies and businesses alike. The proliferation of technology and the internet has led to an explosion in data generation, presenting both challenges and opportunities. With vast data available, organisations increasingly recognise the need to turn this raw information into actionable insights. This article explores the vital relationship between data and analysis and how their synergy leads to informed solutions that drive progress, efficiency, and innovation.
In the fast-paced and competitive world of supply chain management, warehouses play a pivotal role in ensuring the seamless movement of goods from manufacturers to end consumers. Businesses rely on Key Performance Indicators (KPIs) to manage and enhance warehouse operations effectively. These KPIs are essential metrics that provide valuable insights into warehouse activities’ efficiency, productivity, and overall success. This comprehensive article will delve deeper into some commonly used warehouse KPIs and their definitions, highlighting their significance in driving success and optimising operations.
Organisations and individuals constantly strive to optimise their spending in a world driven by financial prudence and economic efficiency. Two common terms frequently surface in these discussions are “cost-saving” and “value for money.” While these phrases might seem interchangeable at first glance, they hold distinct meanings and implications. In this article, we will delve into the differences between cost saving and value for money, understanding why grasping these distinctions is crucial for making informed financial decisions.
Logistics inventory management is a multifaceted process that requires careful planning, coordination, and constant monitoring. As businesses grow and adapt to changing market conditions, the importance of efficient inventory management becomes even more pronounced. Let’s delve further into the key aspects of how inventory management impacts logistics operations.
In problem-solving and decision-making, the human mind can function in various ways. Two contrasting approaches often dictate our choices: “Tunnel Vision Thinking” and the “Visualization Method of Thinking.” While both methodologies can influence outcomes, understanding the strengths and weaknesses of each is crucial in achieving optimal results. In this article, we will explore the characteristics of these two approaches and how embracing visualization can lead to enhanced clarity and strategic decision-making.
In the competitive landscape of the third-party logistics (3PL) industry, companies are constantly seeking innovative strategies to improve their bottom line. While effective in the past, traditional logistics methods may not guarantee the profitability and efficiency required in the modern marketplace. The key to gaining an edge? Revolutionising warehousing operations.
Inventory control and storage pick positioning are the heart of an operation. Business operators must adopt strategies combining technology with best inventory practices to optimize the supply chain and increase warehouse efficiency. These practices include inventory control, projection methods, product and position identification, storage pick location identification, put-away and withdrawal transaction verification methods, replenishment concepts, SKU space requirement calculations, and inventory tracking methods.
Efficient supply chain management requires effective coordination and alignment of various organisational functions. Managing cross-functional drivers in key areas, such as sourcing decisions, pricing and revenue management, information technology, and coordination, is essential for optimizing supply chain performance. This article explores the significance of these drivers and offers strategies for successfully managing them to achieve a seamless and efficient supply chain.
In today’s complex and fast-paced business landscape, supply chain management plays a critical role in determining the success of organisations. Businesses rely on performance dashboards to monitor and optimise supply chain performance. These dashboards visually represent key metrics and indicators, allowing decision-makers to make informed and data-driven choices. This article will explore the essential steps in designing a supply chain performance dashboard that unlocks valuable operational insights.
Designing a supply chain network for the retail industry with the help of e-commerce can help companies utilize all the available resources most efficiently. Creating a network design in the supply chain will
China has been the factory of the world for over four decades. However, companies are now reassessing their reliance on the country. Apple, chip-giant TSMC, and Mazda are diversifying their supply chains out of China³. According to a recent survey conducted by AmCham China and AmCham Shanghai in June, many foreign service companies (25%) and foreign manufacturers (20%) are contemplating scaling back their investment plans in China.
Ethical procurement has gained significant importance for organizations across industries in today’s interconnected world. It involves the responsible sourcing of goods and services while considering social, environmental, and ethical factors. However, ensuring ethical practices throughout the procurement process requires effective governance. In this article, we will explore the vital role of governance in ethical procurement, highlighting case studies and references that exemplify best practices.
Introduction In today’s dynamic business environment, supply chain management plays a critical role in determining the success of an organization. It involves the intricate coordination of resources, information, and activities to ensure the smooth flow of goods and services from suppliers to customers. The power of visualization is becoming increasingly popular among businesses as they… Continue reading Visualise Your Way to Supply Chain Success: Unleashing the Power of Visualization in Achieving Excellence
Introduction: In today’s interconnected global economy, supply disruptions have become unavoidable for businesses across industries. From natural disasters and geopolitical tensions to unforeseen events like pandemics, these disruptions can severely impact supply chains, leading to production delays, inventory shortages, and customer dissatisfaction. In this article, we will delve into the challenges of supply disruptions and… Continue reading Navigating the Storm: Strategies for Managing Supply Disruptions
Introduction Adopting green supply chain initiatives has become increasingly important for small and medium-sized enterprises (SMEs) in Australia as they strive to improve their sustainable performance. With growing concerns about environmental degradation and climate change, SMEs recognize the need to integrate environmentally friendly practices into their supply chain operations. This article explores the sequential impact… Continue reading Green Supply Chain Initiatives: Unleashing the Sequential Power for Sustainable Success in Australian SMEs
Negotiation is an essential skill that is crucial in business interactions, especially when managing supplier relationships. It is the key to achieving favorable outcomes, whether obtaining better prices, improving contract terms, or establishing mutually beneficial partnerships.
Introduction: Organizational success is determined by supply chain effectiveness in today’s fast-paced and dynamic environment. A well-functioning supply chain requires careful management of various factors, including inventory. Inventory management is a critical aspect that directly influences customer satisfaction, operational efficiency, and profitability. This article will explore the different types of inventories and their role in… Continue reading Optimizing Supply Chain Efficiency: Unveiling the Power of Diverse Inventory Types
Introduction: In today’s fast-paced and ever-changing global marketplace, businesses strive to achieve sustainable and significant profit growth as their ultimate goal. With intense competition, the emergence of new markets, and shifting consumer demands, it has become imperative for companies to devise solid and practical strategies that can power their profit growth engine. This article delves… Continue reading Accelerating Profit Growth: Unleashing the Global Business Success Engine
In today’s highly competitive business environment, organizations across industries constantly seek ways to enhance their operational efficiency, reduce costs, and deliver superior quality products or services to customers. As a result, companies that manage their operations and resources effectively are in a better position to compete in the market and meet the ever-changing demands of… Continue reading Unleashing Operational Excellence: The Six Sigma Revolution in Supply Chain and Procurement Optimization
Introduction: Efficient supply chain management is critical for businesses aiming to stay competitive in today’s dynamic marketplace. A crucial aspect of this management is optimizing the supply distribution network. By fine-tuning the distribution network, companies can streamline operations, reduce costs, enhance customer satisfaction, and gain a competitive edge. This article explores the importance of supply… Continue reading Optimizing Supply Distribution Networks: Enhancing Efficiency and Agility
Introduction: “Leadership is the art of leading the pack from the front, inspiring them with your example while humbly supporting them from the back, empowering their growth and success.” Leadership is a delicate art that requires a balance between leading from the front and supporting from the back. Leaders must inspire and guide their teams… Continue reading Leading the People from a different perspective!
In today’s rapidly evolving business landscape, the success of any organization heavily relies on the efficiency and adaptability of its logistics network. With the global marketplace becoming increasingly interconnected, seamlessly navigating various transportation modes and routes is essential. Multimodal flexibility is crucial in optimizing supply chains and ensuring competitiveness in today’s dynamic and ever-changing business… Continue reading Multimodal Flexibility within Your Logistics Network: Enhancing Efficiency and Adaptability
The e-commerce industry has experienced remarkable growth, bringing about a significant transformation in the global marketplace. As digital marketplaces continue to expand, the expectations and demands of consumers are shifting. Today, customers are seeking cost-effective solutions coupled with swift delivery options. Consequently, improving last-mile delivery has become a critical prerequisite for building and maintaining customer… Continue reading Inefficient Logistics Planning Systems are Hindering Progress
“Unlocking the power of AI and ML in the supply chain can propel performance to new heights, revolutionising operations, optimising processes, and driving exceptional results.” You must embrace artificial intelligence (AI) and machine learning (ML) to optimize your supply chain operations and gain a competitive edge in the market, you must embrace artificial intelligence (AI)… Continue reading How AI and ML Can Boost Your Supply Chain Performance
In today’s highly competitive business environment, it’s becoming increasingly important for companies to understand their core competencies clearly. A core competency is a unique capability that a company possesses, which sets it apart from its competitors and provides a sustainable competitive advantage. A core competency strategy is a business approach focusing on developing and leveraging… Continue reading Core Competency Strategy
“The COVID-19 pandemic has accelerated the need for supply chain evolution. Organizations that adapt to the new normal will survive and thrive in the post-COVID era, where agility, flexibility, and resilience are key to success.” The global supply chains have been greatly impacted by the COVID-19 pandemic, leading to widespread disruptions and highlighting the need… Continue reading Revamping Supply Chain Strategies in the Post-COVID Era: Embracing Agility, Flexibility, and Resilience for Success
“To handle yourself, use your head; to handle others, use your heart.” This quote by Eleanor Roosevelt suggests that when dealing with personal matters or making decisions for oneself, it is important to use logic and rational thinking. However, when it comes to leading or managing others, it is important to consider their emotions and… Continue reading All About Leadership: Using SWOT Analysis to Enhance Leadership Effectiveness
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products, known as product categories¹. For example, a grocery store’s product categories include tinned fish, washing detergent, and toothpaste. The main… Continue reading Effective Strategies for Managing Category Management: Personnel, Tools, and Technology
The logistics industry has always been a crucial backbone of the global economy, enabling the seamless movement of goods across borders, facilitating international trade, and connecting businesses with customers. The global logistics market was worth over 8.4 trillion euros in 2021 and is expected to exceed 13.7 trillion euros by 2027. The market is projected… Continue reading The Future of Logistics Industry: Navigating Challenges and Embracing Opportunities Beyond 2022
Introduction: Organic supply chain growth and inorganic supply chain growth are two different approaches that companies can use to expand their supply chains. Organic growth refers to a company’s ability to grow its supply chain internally through investments in technology, innovation, and capacity building. In contrast, inorganic growth refers to the company’s growth through mergers… Continue reading Comparing Strategies: Organic vs. Inorganic Supply Chain Growth
A framework for vendor relationships pertains to the principles, policies, and practices a company adopts to govern its dealings with external vendors, service providers, and suppliers. A well-crafted vendor relationship framework can enable a company to accomplish various objectives, such as enhancing supplier performance, mitigating supply chain risks, optimizing cost control, and stimulating innovation. Several… Continue reading Maximizing Success through Effective Vendor Relationship Management: The Importance of a Vendor Relationship Framework
Ethical Procurement refers to purchasing goods and services in a manner that is socially responsible, environmentally sustainable, and economically beneficial. It is crucial to corporate social responsibility (CSR) and sustainable supply chain management. Ethical Procurement ensures that organizations purchase products and services from suppliers who respect human rights, adhere to environmental standards, and promote fair… Continue reading Ensuring Sustainability and Responsibility: The Importance of Ethical Procurement
On Tuesday, the International Monetary Fund released its latest World Economic Outlook, revising its previous projection by a small margin. In its quarterly outlook three months ago, the IMF had initially presented a slightly less bleak outlook for the global economy, citing the apparent peak in inflation by 2022, strong consumer spending, and the less… Continue reading Global Growth Forecast Down by a Splinter: Navigating the Impact on Global Supply Chains
As of 2021, the global FMCG (fast-moving consumer goods) market size is estimated, shared by Allied Market research in their report (Jan 2023), to be around USD 11.3 trillion and is projected to reach $18.9 trillion by 2031, registering a CAGR of 5.1% from 2022 to 2031. The growth is attributed to the rising population,… Continue reading “Centralized vs. Decentralized Distribution Network: Which is More Efficient for FMCG Supply Chains?”
In today’s competitive marketplace, building brand loyalty is a crucial factor for the success of any business. One way that companies can foster this loyalty is through supply chain excellence. By prioritizing supply chain management practices that optimize efficiency, reduce costs, and enhance customer experience, companies can build a loyal customer base that values their… Continue reading The Vital Link: How Supply Chain Management Impacts Brand Loyalty
Agile thinking is a mindset and approach that emphasizes adaptability, flexibility, and continuous learning. Originally developed as a methodology for software development, organizations have since adopted agile thinking in a variety of industries as a way to manage change, increase productivity, and achieve better outcomes. In this article, we’ll explore the principles and benefits of… Continue reading From Agile Mindset to Organizational Success: Exploring the Impact of Agile Thinking on Organizational Effectiveness
In supply chain management, making quick and informed decisions can be critical to a company’s success. Delayed decisions can lead to increased costs, decreased efficiency, and lost opportunities. Therefore, it’s essential to have a framework for making decisions faster. In this article, we will explore some tips and strategies for making decisions quickly in supply… Continue reading Adopting a Bias for Action: A Mindset for Making Faster Decisions in Supply Chain Management
In today’s globalized economy, the retail supply chain has become increasingly complex, interconnected, and essential to the success of businesses. The retail supply chain encompasses all of the processes and activities involved in getting a product from the manufacturer to the end consumer. These processes involve sourcing raw materials, production, transportation, warehousing, and distribution, all… Continue reading Navigating the Complexities of the Global Retail Supply Chain: Strategies, Challenges, and Best Practices for Success
Introduction: Procurement is an essential part of any organization’s operations. It involves the process of acquiring goods or services required to support an organization’s operations. Procurement governance and probity are two critical concepts that ensure fairness, transparency, and accountability in the procurement process. This article will explore these concepts and their importance in procurement processes.… Continue reading Procurement Governance and Probity: Enhancing Supply Chain Efficiency and Integrity
“The mind is everything. What you think you become.” – Buddha Supply chain management is a complex and multifaceted field requiring professionals to navigate various challenges and obstacles. From sourcing and procurement to logistics and transportation, every step of the supply chain process is critical to ensuring that goods and materials are delivered on time… Continue reading Mind Over Matter: Cultivating Resilience and Success in Supply Chain Management
Key Performance Indicators (KPIs) are critical for businesses as they provide a quantifiable way to measure progress toward achieving goals and objectives. They allow businesses to track performance over time, identify areas for improvement, and make data-driven decisions. KPIs also provide a way to align individual and team performance with organizational goals and ensure that… Continue reading Maximizing Efficiency: Measuring Key Performance Indicators for Warehouse and Inventory Management
Introduction: The global supply chain is a complex network of companies and organizations that work together to deliver goods and services to customers around the world. The supply chain includes suppliers, manufacturers, distributors, logistics companies, and retailers, all of which must work together efficiently to ensure the timely and cost-effective delivery of products. Porter’s Five… Continue reading Analysing the Competitive Landscape of the Global Supply Chain using Porter’s Five Forces Model
Introduction: Problem-solving is the process of finding solutions to complex or difficult situations. It is a critical skill that is essential for success in many areas of life, including business, education, and personal relationships. A problem-solving process is a structured approach to identifying, analyzing, and resolving problems. It involves several steps, including defining the problem,… Continue reading Improving Your Problem-Solving Process: A Step-by-Step Process to Effective Solutions
Introduction Total Cost of Ownership (TCO) has been around for decades, but it has gained significant importance recently as businesses and consumers strive to make informed purchase decisions. TCO is a comprehensive approach to calculating the true cost of owning and operating a product or service over its lifespan. It considers the initial purchase price… Continue reading The Total Cost of Ownership
The efficiency of a country’s supply chain can significantly impact its GDP growth. A well-functioning supply chain can increase productivity, reduce costs, and improve customer satisfaction, contributing to higher economic growth. The impact of supply chain improvement on GDP growth can vary depending on various factors, such as the country’s economic conditions, the nature of… Continue reading Role of Supply Chain Efficiency in GDP Growth
The improvement in supply chain efficacy that can be achieved through continuous improvement can vary depending on various factors, such as the starting point of the supply chain, the level of maturity of the organization, and the specific improvements made. However, studies have shown that continuous improvement initiatives can significantly improve supply chain efficacy. For… Continue reading Value Stream Mapping and Supply Chain Efficacy improvement
Global supplier relations management can be challenging for companies, particularly those that operate in multiple countries and deal with many suppliers. However, effective supplier relationship management (SRM) is essential for maintaining a competitive advantage, minimizing risks, and ensuring the timely delivery of goods and services. In this article, we will explore key global supplier relations… Continue reading Managing Supplier Relationships to make Supply Chains work
Market Size The size of the logistics 3PL (third-party logistics) industry varies depending on the region and market. According to a report by Armstrong & Associates, the global 3PL market was valued at $802 billion in 2020 and is expected to reach $1.3 trillion by 2027, with a CAGR of 7.3%. Several factors, such as… Continue reading Global Logistics Outsourcing Trends
Introduction: Globalization has resulted in businesses expanding their operations across borders, making global supply chains an integral part of their operations. The traditional supply chain model has evolved to an integrated approach where businesses collaborate with suppliers, partners, and customers to optimize their operations. This report will explore the impact of the integrated approach of… Continue reading Integrated Approach to Global Supply Chains
Source: Global Sales Operations Association Introduction: In today’s globalized economy, supply chain management has never been more critical than it is today. Supply chain speed and agility have become two major competitive differentiation levers, while sales forecasting has become crucial to improving the supply chain. A modern marketplace is volatile and constantly changing. Product lines… Continue reading Sales Forecasting Efficacy
The transportation management system (TMS) market continues to grow globally despite the current economic crisis, as per the Gartner report released in March 2021. Transportation is an essential part of supply chains has become an even more critical part of the supply chain, increasing the need for technology to understand supply chain visibility and facilitate… Continue reading Transport Management System (TMS)
Modern slavery describes situations where coercion, threats, or deception exploit victims and undermine or deprive them of their freedom. Defining modern slavery in the context of business is complex. Global problems transpiring in various firms vary from organisation to organisation. The fact is that it exists, and facts prove it. According to one estimate, over… Continue reading Modern Slavery in Procurement
What is it? The total cost of ownership (TCO) is the purchase price of goods and operational costs associated with the purchase. Assessing the total cost of ownership represents taking a macro-level view of the product and its value over time. Before one embarks on purchasing goods either for personal use or professional use, one… Continue reading Total Cost of Ownership (TCO)
“One of the only ways to get out of a tight box is to invent your way out.” ~Jeff Bezos, CEO Amazon Integrated means various functions within the business linked or coordinated. The key objective of integrated Planning is working towards a common goal with the interactive and linear approach. Business functions within the organisation… Continue reading Crumbled Supply Chain – Integrated Planning is the Solution!
We often hear the words Sourcing and Procurement and also contract management. On top of these three terms, we do hear direct Procurement and indirect Procurement and category management. Let me assure you it is not rocket science but simple common sense. Things do not change, we change, and we complicate our thinking. Let us… Continue reading Souring, Procurement, and Contract Management
Undoubtedly, COVID 19 disrupted the global supply chain in ways no one could predict. Yet, at the same time, we have seen unprecedented growth in online shopping. Global E-Commerce Jumps to $26.7 Trillion; Covid-19 Boosts Online Retail Sales. Thus, making warehousing and distribution and last-mile delivery emerging the winner in creating job opportunities and making… Continue reading COVID 19 Redefining the Business Model
Evolutionary change in the supply chain is inevitable and corporate Darwinism is a fact; only the fittest of organizations will survive. The reality is that the rate of growth has increased exponentially in recent years. As a result, time is, in fact, currency in today’s supply chain domain. Organizations that ignore change are doomed to… Continue reading Birth of Supply Chain
As the following chart shows, Amazon grew its revenue by more than 30 percent year-over-year in the first six months of 2020, with a record quarterly profit in Q2 as the icing on the cake. While Amazon’s success during the pandemic seems logical, considering that many people switched to online shopping during lockdown, the relative… Continue reading I don’t care COVID-19
For many decades, several companies have attempted to build seamless supply chain networks to deliver cost-effective products to their customers. Unfortunately, most have simply re-implemented the same old business processes that have been designed many years ago with no fresh thinking. The new normal forced us to think differently under COVID 19 situation. When we… Continue reading How to Unlock Supply Chain Deadlock?
Coming out of an abysmal 2019, which saw Boeing’s deliveries cut in half due to safety issues surrounding the 737 MAX airliner, 2020 shapes up to be equally bad, if not worse, for the U.S. aviation giant. According to figures released on Tuesday, Boeing delivered just 20 commercial airplanes in the second quarter, bringing the… Continue reading Aerospace Supply Chain Downfall
The Dominance When people think of Facebook as a company, they mostly think of it synonymously with Facebook the social network. However, Facebook Inc. is much more than that, as today’s chart nicely illustrates. With WhatsApp, Instagram and of course the namesake Facebook and Messenger, the company owns four of the world’s largest social media… Continue reading Facebook – Social Media Dominance and Downfall
“The baseline projection rests on key assumptions about the fallout from the pandemic,” the IMF writes in its official release. “In economies with declining infection rates, the slower recovery path in the updated forecast reflects persistent social distancing into the second half of 2020; greater scarring (damage to supply potential) from the larger-than-anticipated hit to… Continue reading “Crisis Like No Other”
The automotive industry is undergoing a merger-mania. Recently, Daimler and Geely announced their joint venture in China, manufacturing Smart electric cars for the global market. It is now reported that Renault merged with Nissan and then acquired another carmaker, with Fiat acquiring Chrysler. Earlier, Volkswagen and Ford announced a global alliance. But all these consolidations… Continue reading Automotive Industry Consolidation
The 2020 edition of the Global Peace Index released by The Institute for Economics and Peace has found that global peacefulness has declined for the ninth time in the last 12 years. It ranks peace levels using 23 qualitative and quantitative indicators across 163 independent states and territories, covering 99.7 percent of the world’s population.
The extent to which the COVID-19 pandemic has affected countries varies vastly, connected in part to the respective government’s handling of the situation. These national responses can be worlds apart – both in terms of efficacy and as survey data from YouGov shows, the subsequent level of public approval, too The World Bank published its… Continue reading Impact of COVID-19 on our ECONOMY
“NASA lost the ability to send its astronauts into orbit when the SpaceShuttle was retired back in 2011. That forced the U.S. to book seats onRussia’s Soyuz spacecraft for nearly a decade but that finally changedwhen SpaceX’s Falcon 9 rocket and Crew Dragon capsule lifted off from the Kennedy Space Center last Saturday. The launch… Continue reading Space Travel
“We want all of our rights, we want them here, and we want them now.” “Injustice anywhere is a threat to justice everywhere.” “We must not allow our creative protest to degenerate into physical violence.” “Here is the true meaning and value of compassion and nonviolence, when it helps us to see the enemy’s point… Continue reading Let me Breath!
American Airlines saw its share price jump by more than 40 percent on Thursday after announcing a major boost to its flight schedule for July. The company is planning to fly at 55 percent of last year’s domestic schedule in July, up from just 20 percent in May and June. The announcement comes on the… Continue reading Airline Stocks Still Far Below Cruising Altitude
Videotelephony and online chat services here to stay to facilitate business and save travel costs and make work from home a reality #communicationtools
At the time of this article going to publication, we are starring at around 338,000 deaths, and 5.2 Million confirmed cases, and 188 countries were affected (source: Johns Hopkins University). The fellow-citizens are perishing at a rapid rate. All of us are mere spectators watching the sad drama unfolding in the biggest possible screen called… Continue reading The Bullwhip Effect of COVID-19 on Supply Chain
There’s no doubt about it, we couldn’t survive without email. But while it’s an efficient tool it can also become a minefield of miscommunication. When you take away the added cues of facial expressions, body language and tone of voice, your words can sometimes end up being interpreted differently to what you had intended. And… Continue reading The rude e-mails
“Good judgment comes from experience, and experience comes from bad judgment.” ― Rita Mae Brown Merriam Webster’s dictionary defines professional (adj.) as, “relating to a job that requires special education, training, or skill; done or given by a person who works in a particular profession; characterized by or conforming to the technical or ethical standards of… Continue reading Professional Judgement – Business Optimisation
“An employee who feels appreciated will always deliver more than what is expected” Dr Vijay Sangam What is employee engagement? Employee Engagement is a measurable degree of an employee’s positive or negative emotional attachment to their job, colleagues and organization which profoundly influences their willingness to learn and perform at work – Scarlett Surveys. Employee… Continue reading Employee Engagement
Eliminates waste that results from a poorly organized work area.
“If you care about what people think about you, you will end up being their slave. Reject and pull your own rope.” – Auliq Ice Source: https://mcgrawhillprofessionalbusinessblog.com What is Decision Making? 1. Decision making involves the selection of a course of action from among two or more possible alternatives in order to arrive at a… Continue reading Decision-making
Source: https://businessesgrow.com/2018/01/30/increase-creativity/ “Imagination is everything. It is the preview of life’s coming attractions.” ― Albert Einstein What is Creativity? Process: Creative people work hard to improve ideas and solutions by refining their work, making alterations to their creations. The creative person thinks that there is always room for improvement. Contrary to the mythology surrounding creativity,… Continue reading Creativity
The path towards successful importing from China is surrounded with broken dreams, misplaced trust and suppliers with questionable integrity. Henry Ford rightly pointed out that coming together is a beginning; keeping together is progress; working together is a success. This same maxim applies aptly to sourcing products from China. To be successful in sourcing from… Continue reading Sourcing from China: PAIN or GAIN?
Today’s customer-driven markets environment is becoming increasingly complex, unpredictable and uncertain for companies that operate in highly globalised markets. The grown pressure to create competitive advantages is driving shorter product life cycles combined with faster technological leaps. This situation results in the effect that a continuously growing number of entities faces an ambivalent challenge of… Continue reading FLEXIBILITY – THE UlTIMATE CAPABILITY
“The brain controls our thoughts, memory and speech, movement of the arms and legs, and the function of many organs within our body. The central nervous system (CNS) is composed of the brain and spinal cord. The theory is that people are either left-brained or right-brained, meaning that one side of their brain is dominant.… Continue reading The Brain of a Supply Chain Professional
“Be the change that you wish to see in the world.” ― Mahatma Gandhi Why Change (the storey behind the change)? “Global growth is projected to reach 3.9 percent in 2018 and 2019, in line with the forecast of the April 2018 World Economic Outlook (WEO), but the expansion is becoming less even, and risks… Continue reading Managing the Change
The core idea of lean manufacturing is actually quite simple and that is to work on eliminating Muda (wastefulness) from the manufacturing process. Every manufacturing process will experience some kind of waste, it could be time, it could be material or it could be productivity. So what is a waste? Waste is defined as any… Continue reading Lean Manufacturing Tools
“Business must have an appetite for category management…and procurement must create that appetite” – CPO, FTSE 100 Engineering Company, UK We often hear the word category management, what is it? And is it different to procurement? These questions are quite common in the minds of non-supply chain professionals. We also hear sourcing, is it procurement?… Continue reading What is Category Management, Sourcing and Procurement?
Michael Eugene Porter is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School. Michael Porter coined the term ‘Value Chain’ was first used in his book “Competitive Advantage: Creating and Sustaining Superior Performance” (1985). The value chain is… Continue reading Value Chain – My Perspective
Leader vs. Leadership A leader’s job is not to work for others, it’s to help others figure out how to do it themselves and successful, to succeed beyond what they thought possible. A leader is at his best when people barely know he exists when the work is done, and the objective is fulfilled, they… Continue reading Leader vs Leadership
We hear this phrase “Change Management” as frequently as “Excuse me”, one has to be really excused because change management has become a fad, far from reality. Change Management is a process and a journey towards desired future state from current ineffective state. This could involve mostly people, but other elements that go through a… Continue reading Change Management, what is it?
The decision of implementing an integrated all-in-one ERP package is not always an easy one. Some companies have decided to invest in an all-in-one ERP package, as Colgate-Palmolive did with SAP R/3. For some other organizations committed to SCM, an ERP integrated package may not provide the best solution for a function of the business… Continue reading Is your Supply Chain ready for ERP Implementation?
The agile supply chain essentially refers to the use of responsiveness to the customer demand, competence to meet the market requirements, flexibility to change to the market dynamics and speed to manage the day-to-day operation of an end to end supply chain. Unlike the lean supply chain, the agile supply chain uses real-time data and… Continue reading The Agile Supply Chain Explained
Inventory management is not always the supply chain manager or inventory manager’s job. As an organisation, all of us own the function of inventory management in one way or the other. It would be a foolish idea to isolate the discussion and decision making to the supply chain function whereas it is a collective responsibility.… Continue reading Inventory Management – Who is responsible for the outcome?
“Words outlive people, institutions, civilizations. Words spur images, associations, memories, inspirations and synapse pulsations. Words send off physical resonations of thought into the nethersphere. Words hurt, soothe, inspire, demean, demand, incite, pacify, teach, romance, pervert, unite, divide. Words are powerful. Here are some powerful words and thoughts from great leaders who inspired us and continue… Continue reading Great Thoughts and Great Leaders
Five factors of supply chain influence the supply chain of any organisation. They are sourcing, transportation, storage, inventory costs, and product differentiation as explained in the below graphic. I will briefly introduce five elements of commodity-related factors that could influence your supply chain. Integrated planning includes demand planning, material requirement planning and distribution requirement planning.… Continue reading Four Dimensions of Supply Chain – Part 4
The Corporation: The Organisational Vision and goal determines the effectiveness of Organisational performance. The core objective of any organisation is to customer retention and sales growth and ROI. However, all these objectives can go wrong with wrong policies and strategies. James MacGregor Burns coined the word “Transformational Leadership” in 1978. The critical elements of… Continue reading Four Dimensions of Supply Chain – Part 3
The Competition: In today’s highly globalised and volatile environment companies no longer compete one-on-one, but their supply chains do, so the incremental value addition becomes critical to avoid supply chain extinction. Today’s competition is moving from “among organisations” to “between supply chains”, more and more organisations are increasingly adopting lean and nimble SCM practice with… Continue reading Four Dimensions of Supply Chain – Part 2
This is a long story summarised into four parts, I will publish part 1, 2, 3, and four in separately in order to give the readers time read in leisure and digest the information delivered in this long article. According to the Oxford Dictionary, the supply chain is defined as “the sequence of processes involved… Continue reading Four Dimensions of Supply Chain – Part 1
Qualitative Supply Chains “Quality is never by accident; it is always the result of intelligent effort. There must be a will to produce superior things” John Ruskin Before we discuss the process of implementing quality, it is necessary to understand what lies for us in Future as far as Quality Management is concerned. It… Continue reading Untitled
The objective of performance drivers is to create an environment within which companies can plan, communicate and measure strategies and tactics in their unique business environment. Before we get into the discussion of performance drivers, we should be clear in thoughts whether we are looking at short-term business performance drivers or long-term strategic performance drivers. … Continue reading Organisational Performance Drivers
The primary objective of Logistics Audit is to match the logistic requirements and customer service expectations, taking the market dynamics into consideration, and to identify areas for improvement to achieve customer service excellence. Key Steps in conducting Logistics Audit: An effective logistics control system requires accurate, relevant, and timely information about activities and performance.… Continue reading The Logistics Audit
There is a common belief that Supply Chain professionals need not have costing knowledge. That is a misleading thought process. Cost savings takes lion share of Supply Chain optimisation. Ideally supply chain professionals should have intermediate knowledge of cost behaviour analysis and interpretation capabilities. The most often reported reason for Business Failures amongst small to… Continue reading Supply Chain and Cost Control
Supply Chain in today’s competitive world has become profitability growth engine. When I was crossing a border one of the immigration agent asked me what is “Logistician”. I have mentioned my profession as “Logistician”. If a common man fails to understand what is logistics, it is hard to understand supply chain. Even today, people ask… Continue reading Fundamental Supply Chain Processes
Graphic Source: http://68.media.tumblr.com Traditionally, the decoupling point methodology has been associated with the material flow pipeline. However, to maximize improvement in supply chain dynamics, information flow is equally important. Many of the problems that may pop-up are the result of the distortion of marketplace sales information as it is transferred upstream through the supply chain. However,… Continue reading Supply Chain – Decoupling
Graphic Source: ngdata.com In today’s seemingly chaotic retail environment, much is being said and written about the importance of good customer service. And there are many suggestions on how to do it. The Retail Owners Institute asks the question, “Good customer service? Of course. But, for which customer?” Consider, for example, how different lifestages… Continue reading Customer Retention through Total Customer Satisfaction!
Synergy Between Warehousing and Logistics Strategy
by Mark Barry | May 15, 2017 In the wake of omni-channel demands, the goal of any eCommerce company is to optimize their end-to-end supply chain processes. However, it could be argued that the order fulfillment stage is the most critical aspect of any supply chain, given current consumer demands. With Amazon pushing the… Continue reading 5 Steps to Reengineer Your Fulfillment Processes
Future Australian Transportation (click the hyper link) – “By 2050, Australia’s population will have nearly doubled, aged considerably, and still be largely urban-based,” he says. “The traditional modes of transport – road, rail, air and sea – will not be able to cope with that change. They are neither environmentally friendly enough to support large urban populations, nor terribly… Continue reading Future Australian Transportation
Any business will have number of objectives, each describing a desired future condition toward which efforts are directed. An objective is a statement that clearly explains actions to be taken or tasks to be achieved by an organisation. If the objectives are accomplished, then the business should be a success. The purposes of objective setting… Continue reading The Purpose of Business Objectives
Graphic Credit: Tristan Louis We are in an e-commerce world right from food to everyday needs come to our doorstep by ordering online. The total global retail sales in 2016 was estimated to touch US 22.049 trillion and that is 6% up from the previous year. It is estimated by “Worldwide Retail Ecommerce Sales: The… Continue reading Why shoppers choose in-store shopping?
Today’s world is evolving, everyday is a new day and new scenario in market place. The change has become certainty. The business dynamics are rapidly changing and creating severe competition and Economic Volatility. The powerful way to sustain in the global competition was not visible to many companies till 1980s. Top executives of the corporation tried… Continue reading Change or Perish
By Niklas Goeke One of your team members is organizing a workshop on Friday. On Thursday, she calls in sick and asks you to fill in. Plot twist: The materials she sends you are clearly unfinished. Being an awesome co-worker, you rearrange your entire schedule and stay late to make sure everything is impeccable. Come the… Continue reading The 2 Words You Need to Delete From Your Vocabulary Today
An effective and agile supply chain should deliver four benefits to the organization and they are sales revenue increase, profitability enhancement, improved customer satisfaction and customer retention. In a globalized economy, the role of Supply Chain has never been as critical as it is today. Supply Chain speed and flexibility have become two key levers… Continue reading Impact of Supply Chain Performance on Organisational Growth
We are in an e-commerce world right from food to everyday needs come to our doorstep by ordering online. The total global retail sales in 2016 was estimated to touch US 22.049 trillion and that is 6% up from the previous year. It is estimated by “Worldwide Retail Ecommerce Sales: The eMarketer forecast for 2016”… Continue reading Why shoppers choose in-store shopping?
In the last article, it was identified and established that Supply Chain is the key enabler for business growth. It is time now to understand what measures within supply chain drives supply chain excellence. As shown in the below figure, five elements contribute towards supply chain excellence. It starts with People, Quality, Velocity, Cost, and… Continue reading Supply Chain Excellence and People
A decade ago people used to believe that people, process and technology are the three Business enablers. John F Kennedy once said, “the Chinese use two brush strokes to write the word ‘crisis.’ one brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger–but recognize the opportunity”. In… Continue reading The Supply Chain is a Business Enabler!
In my opinion Logistics industry can be described as wheels of Globalization and key to the market expansion and competitive product availability to the growing global consumers. Dynamic business conditions and confronting economic conditions are driving globalization. Globalization is resulting due to expanding markets, exploding retail market, product proliferation, ever changing needs of customers, economic… Continue reading Impact of Globalization on Logistics Costs and influence on 3PL Revenue Growth (2012)
Establish positive attitude and demonstrate your integrity to engage the team; and engagement leads to commitment and commitment results in enhanced productivity and improved productivity produces economic benefits to the Customers (Superior Quality and Cost Effective Products), Shareholders (Improved return on Investment), Employees (Career Growth and Job Certainty) and to the Organisation (Improved Brand Equity… Continue reading Supply Chain Leadership
Warehousing Management is part of a logistics management business process, which is itself is a facet of supply chain management. The general perception of the Warehouse is simply a place to store finished goods; semi-finished goods and raw material, inbound functions that prepare items for storage and feed manufacturing line and outbound functions that consolidate,… Continue reading Basics of Warehouse Management
Happy New Year to Supply Chain Professionals all over the world. Someone said, life is either a daring adventure or nothing at all. The New Year will bring new set of challenges and it is up to adventurous supply chain professionals to address and resolve. I would like to thank all the visitors to the blog… Continue reading 2013 in review
Third-Party Logistics Study 2013 on the Logistics Outsourcing Trends was released. I would be focusing on some of the elements of the findings to add my perspective to Logistics outsourcing. Outsourcing is a magical word that pretends to address many complex issues of reaching the product to the end user. The reason I am using the… Continue reading Logistics Outsourcing Trends – 2013
Managing supply chain is increasingly a demanding task of satisfying the customer and the shareholders. Supply chain professionals worldwide have a daunting challenge of managing a global supply chain aligning with the business needs and financial downturn adds another dimension to the complex challenge structure. All agree that supply chain manager’s primary… Continue reading The Intricacies of Sales and Operations Planning
The Story of Three Arrows As we all know that the Global Economy is not heading in the right direction. One of the best indicators of global growth is oil prices. Oil prices (Brent) are assumed to average about $105 per barrel (pb) in 2013-2014, compared to $110 pb in 2012. Unemployment remains elevated in… Continue reading The Story of Three Arrows
The WordPress.com stats helper monkeys prepared a 2012 annual report for this blog. Here’s an excerpt: 4,329 films were submitted to the 2012 Cannes Film Festival. This blog had 42,000 views in 2012. If each view were a film, this blog would power 10 Film Festivals Click here to see the complete report.
In general supply chain innovations or improvements focussing on inventory optimization target either lead time reduction or cost savings and in some cases both. The bottom-line for these concepts is to reduce or eliminate inventory and minimize the impact of inventory carrying costs on the P&L and to reduce the lead time. If I were… Continue reading Solutions to avoid inventory Carrying?
Planning is critical first step in developing an efficient supply chain and effective supply chain leads towards organizational excellence. Right inventory availability at the right place is crucial to success of any business. Probably that is the reason the logistics is defined as “time related positioning of resources.” Inventory is a resource and time related… Continue reading Supply Chain thrives with Effective Planning!
Today Supply Chain is going through re-engineering phase due to global financial turmoil, raising costs, volatile currency fluctuations, unpredictable demand, lack of qualified supply chain talent and punishing markets. Collaboration is the top priority of the day. Supply Chain flourishes though collaboration and collaboration is the key to supply chain success. Leaders collaborate and the… Continue reading How critical is Thought Leadership to Supply Chain?
Dwindling global economy is a big cause of concern for 3PL industry. I remember a saying, “When the going gets tough, tough get going.” How relevant it is for today’s situation? Well, what I am trying to say is that we need effective human resources to tackle complex issues resulting due to melting global economy. … Continue reading Melting Global Economy or Supply Chain Talent Shortages threatening 3PL Industry?
Warehouse Management is a routine boring activity for some. Same old, pick, pack and ship. However, things are changing we are seeing lot of technology introduced in the Warehouse to make it more productive, efficient and happy place to work. As we all know technology comes with a cost and also ushers in efficiency levels. … Continue reading Warehouse Automation
You may continue to exceed onlookers’ expectations but shall always fall short of the boss’s expectations!
The growth rate of major economies such as US, Europe and Japan were less than 1% during 2009. Naturally the impact of this financial uncertainty will have impact on the contract logistics as well. Contract logistics which was growing around 10.0% during 2005 to 2006 period reported early setbacks in 2009 with a 1% growth… Continue reading Contract Logistics – Past and Future
Supply Chain superiority determines organizational competitiveness. Some believe that supply chain superiority or excellence is achieved with the help of three elements; process, people and technology. Another group would advocate continuous improvement, benchmarking and KPIs, and innovative thinking would lead to supply chain excellence. Do you think these factors drive the excellence? My answer would… Continue reading What Drives Supply Chain Excellence?
Tom Peter once said, “Do what you do best and outsource the rest”. It is a common practice to outsource logistics and supply chain activities. One would be surprised to know that some organizations strongly believe in insourcing logistics activities. The recent study by CAPGEMINI (2010) revealed few interesting facts on insourcing. On an average… Continue reading Supply Chain – Insourcing vs. Outsourcing
Significant staff members are deployed in supply chain area and the respective managers are responsible for Occupational safety and health related issues. According to SAFEWORK Australia there were 131,110 workers compensations claims received during the financial year 2007-08. Out of which 68% were from male workers and rest from female workers. According to European Agency… Continue reading Make your workplace safe
Identifying the Supply Chain Risk and mitigating the same with the help of service provider through collaboration.
2010 WH Performance survey results
Balancing Demand with Supply though Inventory Optimization.
KPI setting is the stepping stone for Performance Improvement.
How WMS helps in managing Warehouse Operations.
Supply Chain Outsourcing – The Process
Importance of Reverse Logistics in maximizing Supply Chain Efficiency.
Supply Chain Project Management and the methodology.
Do you know that carrying excess Inventory costs financially? Well, you may not see the cost of carrying inventory in your Profit and Loss statement, but trust me it hurts you big time financially. According to one survey conducted by IMR in conjunction with Harding & Associates indicate that almost 45% of the respondents have… Continue reading Inventory Bites!
Identifying supply chain risks is the first step in preventing and managing prevention.
Preventing Fraud practices in Procurement.
A successful manager is the back bone of any successful organization.
Supply Chain is all about integrated approach, a team work and about collaboration. We hear motivational speeches about team spirit. Teams, Teamwork, Team spirit, are these just a bunch of fancy words or do they mean anything to Supply Chain Success? They do mean a lot. Let us pause for a moment and understand what… Continue reading Team Spirit and Supply Chain
VMI is one of the technique used by business to differ inventory ownership.
An easy method to calculate warehouse space required to store certain number of pallets.
Variance Analysis helps Supply Chain Professionals to Optimize supply chains costs.
Inventory Bites! It is absolutely necessary to manage your inventory or it would hurt you badly!
There are only two types of supply chains and they are Push and Pull.
Why outsourcing fails?
In order to make any collaborative alliance a success, it is necessary to manage relationships.
Human Resources are very important in managing supply chain efficiency. Risks involved in managing human resources.
Get your communication right in order to implement change!
Various opportunities to optimize supply chain costs.