Analyzing your freight like a carrier gives you a negotiating advantage. Accessorial charges, minimum charge thresholds and other factors may eliminate or offset the discount. You should know more about your traffic patterns than your carriers. The more data and information you have about your freight, the better equipped you will be to make effective decisions.
Check out sample freight reports we can provide. Additionally, these alerts can be sent to your mobile device to inform you of the status of your supply chain at any time, day or night.
Order processing is massively important to any supply chain, and as such, solutions provide the tools needed to make this task easier and more efficient. These tools support all functions across order processing like sales order processing, order management, order fulfillment, billing and order to cash.
These supply chain optimization tools can automate most activities involved in order processing using EDI software and similar technology to directly capture order data. This reduces the time it would take to traditionally process an order by eliminating the need to manually generate and send POs and invoices.
Before lean production, manufacturers would create and house large surpluses of goods. This resulted in massive inefficiencies , wasting time and effort.
The overall goal of this practice is to optimize your production planning by cutting down on warehousing space, inventory costs and the different procedures of storing excess inventory. Lean inventory tools can provide quite a bit of return on investment for a business, decreasing the need for warehouse space and streamlining their labor force.
While lean production principles can be implemented without these tools, this type of supply chain management takes efficiency to the next level. These tools make planning production in alignment with lean manufacturing principles much easier. Depending on the solution you choose, these tools may also help manage the day-to-day operations within your warehouses. Solutions provide a wide array of warehouse management capabilities as broad or specific as your company requires.
Some solutions provide advanced supply chain planning tools, allowing users to handle complex logistics related to receiving, product tracking, cycle counting, route planning and more. Moreover, warehouse management tools help manage the kitting and bundling process as well as multiple warehouse locations.
This is especially helpful when you need to bundle multiple products that are kept at different warehouses. In addition to various shipping features, tools can also incorporate different types of industry-specific freight handling functionality. For example, the evolution of cold chain logistics and new regulations concerning perishable goods has changed compliance standards.
To handle this, some platforms have integrated technology that can verify that those goods were kept at the proper temperature right up to the last mile of delivery. This tool is also offered by vendors as a standalone product but can be neatly integrated with a larger solution.
Maintaining product quality across the supply chain will help you reduce costs associated with perished goods. This includes the cost of a recall, item disposal, legal response and more. Stock prices still fell throughout as late as , with customer reviews worse than they were during the initial outbreak.
Sourcing and procurement are a major part of supply chain operations for many businesses. Therefore, tools that support these activities should be a top priority as well. Bid and spend tools also automate much of the procurement process, reducing errors and resources spent.
For instance, top tools can automate the entire procure-to-pay process. These tools can also assist you in evaluating bids from different suppliers by helping you spot opportunities for improvement. For procurement teams with many members, these tools allow procurement officers to set limits for employees by creating approval processes and spending limits. Tying in strongly with bid and spend tools, supplier management is a must-have when it comes to procurement.
Along with assistive features for cost issues, supply chain management tools can also help businesses get a better understanding of how they relate to their suppliers. These tools show the history of a business partnership and how it affects the supply chain. Using supplier performance analysis, users can see how any given supplier has contributed to a business model. Furthermore, supplier management tools often offer a workspace to perform bids, auctions and negotiations for more centralized procurement.
Not only does analytics provide insight into past practices, but it can also create forecasts to predict future demand. This provides the essential information to make crucial decisions regarding production planning, labor management and supplier relationships in order to meet this demand.
Without forecasts, you risk stock shortages during periods of intense demand. These forecasts are often communicated via dashboard reporting. For more on dashboards and reporting, see the next section. Analysis tools allow users full visibility not just into the physical location of inventory, but also into the health and performance of the company.
Analytics can provide insight into the company as a whole or into individual sectors. Demand forecasts give visibility into the popularity of certain items, whereas warehouse analysis might tell you the most efficient way to store and move that product. This also allows users to analyze order processing which can uncover the source of delays and errors. Additionally, users can analyze transportation and logistical processes. This helps decision makers understand how well carriers are performing along with patterns of delay and error.
All of this visibility gives users the means to improve their processes while retiring less useful methods. Analytics must be conveyed in the form of a report. Different tools may offer different reporting methods, including tables, charts, dashboards and more.
Dashboards are one of the most common methods, as they offer quick information as soon as a user logs into the system. Supply chain dashboard tools can be configured to show the most relevant key performance indicators KPIs as determined by the user.
In addition to providing a hub for procurement, modern supply chain monitoring tools also allow companies and their suppliers to collaborate in other ways through a designated portal. Supply chain portals can eliminate several collaboration challenges including communication issues, bottlenecks in requisition and order, and other issues.
Using portals, all parties may have access to production progress, order forecasts, product specifications, purchase orders, shipment history, schedules and more. Collaborating directly on certain documents eliminates the need for continuous emailing back and forth to get the right information and the errors commonly associated with this form of communication. Collaboration portals support full supply chain visibility, allowing both companies and their suppliers to stay up-to-date.
Data theft can cause you to lose your position in the market as well as damage your relationships with suppliers. For instance, if your demand forecasts were stolen, your competitors would then have insight into the interests and preferences of your customers. This would enable other companies more effectively to sell to your market, reducing your profit. If financial data is stolen, you may lose the trust of the parties affected such as consumers or business partners.
In order to prevent these security failures, implementing defensive features is a must. Most vendors today offer security assurances to let their clients know what efforts have been made to safeguard their information. These might include avoiding third-party vendors with low security standards, forbidding backdoor creation, aggressive patch management and response procedures in the case of a breach. There are also security measures your company can take in order to further protect your data.
For example, dashboard reporting can be restricted based on the user to ensure only approved personnel have access to certain company data. Many tools also allow a system administrator to set file permissions. Further, you can integrate biometric devices to provide further accountability. In order to achieve a complete solution, you need to have some sort of transportation management. Transportation and logistics tools help users manage the movement of inventory and materials from one location to the next.
With a solution equipped with transportation management, users can plan multi-stop trips, consolidate shipments to maximize space and plan for less than load LTL shipping. In addition to planning transportation, these features help users address issues as they arise. Through inventory tracking, individuals can see when inventory is slowing down and intervene to find the cause. There are also collaborative options within transportation modules which enable all supply chain players to manage the shipping process.
Consumers, now more than ever, want their products to be well-made, safe and ethical. For instance, some solutions allow users to closely inspect suppliers to ensure minerals obtained are conflict-free. The Implico Group firmly believes that employees achieve the best results when they regard their work as fun. Consequently, the company cherishes and promotes a good work-life balance and a collegial atmosphere. Established in , AB Global Logistics Consulting is an efficiency-driven firm focused on providing exceptional results for its clients.
The company partners with clients to determine their needs and secure the ideal solutions to meet their goals. The company, with its twenty years of national and international experience, finds, filters through, and partner with industry-leading carriers and professionals.
This allows the enterprise to link its clients with services that have a proven track record. Whether by air, sea, or road, the organization offers worldwide shipping coverage. The company also provides full-service warehousing solutions including, pick and pack, storage, and delivery.
ChainSequence is a unique consulting group with extensive hands-on experience in high-tech manufacturing in combination with broad consulting experience in Supply Chain management. The company offers a fresh perspective toward re-engineering outdated supply chain methodologies and resolving persistent challenges. The company is headquartered in Barrington, Illinois. Ion Channel is a data platform and service that allows organizations to risk-manage their software supply chain and increase the robustness and resilience of their software infrastructure.
Founded in , JBF Consulting is a supply chain execution strategy and systems integrator to logistics-intensive companies of every size and any industry. Miebach Consulting provides supply chain consulting and engineering services in logistics and production for large and medium-sized companies on a global scale.
The enterprise designs strategies, develop cost-effective feasible concepts and determine IT solutions and technical equipment right down to the last detail. The company takes over responsibility and implements the solution it has developed.
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