Recognise the risks of disruptions in your supply chains

February 12, 2020 | 197 views

Supply Chains carry risks, both minor and major. A major risk to supply chains could be the current Coronavirus outbreak. This is due to uncertainty about its duration and the long term impact on economies and supply chains. As China is an integral part of global supply chains, a decline in its output has the potential to disrupt global production. The ‘known-unknown’ challenges for supply chain professionals, due to an expected reduction in economic activity within China, are the disruption to both outbound supply and inbound supply chains for components and raw materials.

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PROCUREMENT AND SOURCING, LOGISTICS

What’s the Latest on EV Charging Infrastructure in Rural Areas?

Article | August 8, 2022

Contents 1. Accessing The State and Federal Benefits 2. A Learning Portal to Educate Rural Communities On EV Charging 3. The Significance of an Equitably Relevant EV Charging Network Electric Vehicles (EVs) are making waves in cities and are more than just the latest trend in transportation. With the advancement of the EV charging network and its deployment across urban areas, experts are asking what’s next and how this growth can be replicated in rural areas. 1. Accessing State and Federal Benefits Based in Oregon, Forth is an EV research and advocacy group that recently announced a partnership with General Motors to build grant templates that can help rural communities win and access state and federal grant money to build EV charging networks. The templates will be provided free of charge and cover 80% of a complete grant. Geoff Gibson, the senior program manager for Forth, believes this will give rural communities the impetus to seek out the grant money and get over the initial hurdle of framing a grant proposal. 2. A Learning Portal to Educate Rural Communities on EV Charging Forth also announced the slated launch of a learning portal that will address the lack of know-how on deploying a charging program for EVs. The portal will empower communities with not just the knowledge of implementing charging programs but also their significance and long-term impact on the community. The learning portal will tentatively go live in 2023 and will be free for local communities, counties, cities, and states, as well as community organizations. The program will be accessible for a year and could be further extended. According to Steve Lommele from the Joint Office of Energy and Transportation, he reiterated the importance of building a national EV charging network. He states that this is the first time a major program has been put in place that covers all 50 states in the U.S., including Puerto Rico and Washington D.C. 3. The Significance of an Equitably Relevant EV Charging Network Deploying EV charging stations in rural areas has to be meaningful for the communities that will be using them. Forth’s Geoff Gibson emphasizes that the needs of the communities need to be given priority when designing the charging network. For instance, DC charging or charging that is publicly accessible should be preferred at trailheads. EVs as part of our transport in the future is inevitable and charging networks and program need to be prioritized to ensure all communities are able to access its benefits equally.

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SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

4 Ways of Using Advanced Analytics in Supply Chain Management

Article | July 18, 2022

The complexity of today’s supply chain has resulted in a highly fragmented supply chain ecosystem. Whether it is a global pandemic or an ongoing war, streamlining the moving parts in the supply chain management system is an immense feat in the current climate. The resulting shortage of materials, disruption of transportation, and delays have complicated the supply chain even further. Add to it the expectation to minimize expenses, optimize inventory, and enable quality and customer expectations, and stakeholders at every level of the supply chain are inundated with challenges. This is where using advanced analytics in supply chain can be a game changer for many manufacturers. It can help them gain a deeper insight into their operations and how the supply chain is moving. How Supply Chain Analytics Enriches Supply Chain Management A 360-degree view of the supply chain is crucial for supply chain leaders. A lack of insight can cause costly delays and avoidable disruptions. Obtaining complete visibility in supply chain management, on the other hand, can be difficult. The immense volume of data that many organizations have to deal with makes it difficult to gain proper insight. Supply chain analytics tools help in gaining a better sense of the aggregated data from different parts of the supply chain, such as procurement, ERP in supply chain management, warehousing management, shipping and logistics management, and many more. The more accurate the data is, the simpler it is to use advanced supply chain management analytics to forecast, predict, and plan better in order to maximize the supply chain’s capabilities. Optimizing the Supply Chain: 3 Ways to Do so with Analytics With the range of analytics applications in supply chain in use today, manufacturers have the opportunity to completely transform how to view, manage and strategize. Here are five data analytics supply chain tools to consider in the pursuit of optimization. Demand Forecasting Inventory management is at the heart of supply chain optimization. Not calibrating the inventory stock based on demand and supply for bestselling products and those that don’t move fast can cause either an overstocking or understocking problem. Either way, forecasting the right balance is difficult to achieve, but data analytics can make it simpler. The lack of the right products in stock can heavily impact the bottom line. According to a survey by Logility, 36% of supply chain experts consider inventory optimization the primary reason for adopting analytics. An integrated mapping of retail sales, inventory levels, and the flow of goods will lead to accurate demand forecasting. This data can empower organizations to: Strategize sales promotions Define product pricing Maximize budgets Predict accurate inventory levels Inventory management has a cascading effect on the supply chain, and advanced demand forecasting has helped many organizations achieve an optimum level of inventory for the right products. Predictive Warehousing Maintenance Machine Learning (ML), artificial intelligence (AI), and the Internet of Things (IoT) have been emerging technologies on the supply chain management landscape. By using a mix of these technologies, it is possible for manufacturers to deploy predictive maintenance in warehousing. Predictive maintenance is the process of assessing data generated from the past and in real-time to determine patterns and identify equipment failure and maintenance schedule before a breakdown occurs. This helps manufacturers to: Avoid heavy repair costs Plan spare part supply Slash downtime from equipment failure Eliminate production delays In addition to reducing production bottlenecks, predictive maintenance gives businesses the ability to manage their equipment and optimize their shelf-life. Warehousing Efficiency At the warehouse phase of the supply chain, analytics can help manage the supply chain in more than just one way. The warehouse workflow is just as crucial, as it facilitates a clear view of the condition of goods as well as the optimization of the warehouse space. In addition to warehouse space maximization, quality control is another challenge that warehousing management addresses. Supply chain analytics can enhance warehousing efficiency by: Ensuring the correct storage of goods based on their weight, fragility, and perishability Aligning with resource management like equipment, vehicles Identifying disruptions to storage before they occur One of the advantages of supply chain analytics is getting a deep insight into the warehouse’s operation so manufacturers can identify gaps and take steps to make it more efficient. Transportation Tracking Real-time analytics of transportation and logistics is a crucial piece in the puzzle of supply chain management. For example, the data generated in relation to fuel consumption, weather conditions, and even traffic patterns can help organizations boost their logistics and carrier management. It can help them to: Schedule deliveries Determine better routes Evaluate current routes Strategize their shipping schedule To Wrap it Up To put it simply, a deep insight into the supply chain, inventory management, and warehouse operations is a great way to ensure the supply chain is on track. Effective supply chain management software is an asset for an organization when it is able to leverage the insights and make well-informed strategies to further optimize the supply chain.

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SOFTWARE AND TECHNOLOGY, LOGISTICS

Digital innovation in logistics warehouses

Article | July 16, 2022

Business Chief takes a look at three leading logistics companies and how they are digitalising their warehouses. With technology evolving at an exponential rate, and the logistics industry needing flexible solutions for its complex operation, we take a closer look at some of the successful deployments of digitalisation within the warehouses of leading logistic companies around the world.

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How to Test Major Changes in Your Supply Chain Process

Article | February 10, 2020

Did you know that the return of your supply chain process depends on how your software technology works as well as the efficiency of the people involved in the entire process? However, changes keep taking place, and you might feel clueless as to where your initiative is going. Supply chain testing is done in order to know and mark the various aspects where the supply chain is the weakest. Since data handling is a crucial aspect, managing it becomes even more necessary.

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SUPPLY CHAIN

OMP Organizes Think Tank to Research Outside-in Supply Chain Planning

OMP | January 30, 2023

OMP, one of the prominent providers of supply chain planning solutions, has recently launched Spark Initiative, a think tank, to research supply chain planning from an outside-in perspective. It will use massive external data and high-level technology to improve the decision-making of its customers. The primary objective of the Spark Initiative is to provide the OMP community a platform to learn, share and test the outside-in capabilities. It will use data regarding weather and climate patterns, holidays, political and economic factors, consumption trends and data from smart devices to study the factors affecting the supply chain. In addition, it will collect real-time business feedback from customers and insights from a few selected companies for research, and its findings will be made public. The advisory board of the initiative comprises of leaders, academics, industry professionals and OPM experts, led by Lora Cecere, CEO of Supply Chain Insights, they will devise the conceptual framework and keep an eye on the pilot tests. Dave Winstone, Global ISC Director at Dow and Spark Board Member, said, "I'm excited to participate in the Spark Initiative because it's the next frontier in supply chain planning." He added, "How do we harness all these signals out there? How do we identify which ones matter most to our business? What do they mean to us and to our ecosystem partners? In the end, it's not companies that compete, but the ecosystems around us. We have to make the ecosystems more effective to be able to stay competitive. And I believe this initiative will bring us one step closer to that goal." (Source – Globe Newswire) Philip Vervloesem, Senior Vice President of OMP USA, said, "Now is the time for supply chain leaders to redefine their planning processes. The active participation of Fortune 500 companies like Dow, General Mills, Nestlé, and Land O'Lakes confirms the need to explore groundbreaking ways of planning. I look forward to deep-diving into this fresh pool of possibilities together with our valued customers." (Source – Globe Newswire) About OMP OMP is a software company providing customized supply chain planning solutions. Its global clients include ArcelorMittal, BASF, Michelin, Procter &Gamble, Dow, Shaw, Yoplait, Shell, Smurfit Kappa, and Shell. Headquartered in Belgium, it has a vast network of partners needed to optimize supply chain performance for clients anywhere. It renders industry-specific solutions from consumer goods to metals. Its digitalized supply chain planning solutions helps companies to channelize their excellence and growth.

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SUPPLY CHAIN, TRANSPORTATION

VSE Corporation’s New Fulfillment Center Expands Fleet Segment Supply Chain Operations

VSE Corporation | January 25, 2023

Leading aftermarket distribution and maintenance, repair and overhaul (MRO) services provider, VSE Corporation, yesterday announced its all-new e-commerce fulfillment and distribution center in greater Memphis, Tennessee area. The company serves government and commercial markets with MRO services for air, sea and land transportation assets. VSE’s new state-of-the-art center is spread over 450,000 sq.ft., double the size the current warehouse for its fleet segment. This new center provides VSE’s Wheeler Fleet Solutions segment with the additional capacity to meet the growing demand for aftermarket products for its commercial and e-commerce fleet customers. VSE’s new fulfillment center is to support faster, same-day deliveries including order-to-delivery. This allows for additional shipping options, while ensuring the best level of services for the company’s aftermarket parts distribution portfolio. The new center harnesses a warehouse management system (WMS) and automation to increase productivity and capacity while maintaining order and delivery accuracy. The center can stock more than 175,000 SKUs when operating at full capacity. John Cuomo, President and CEO of VSE Corporation, said, “The addition of our new distribution center is an important strategic milestone for our Wheeler Fleet Solutions subsidiary, one of the leading fleet-focused parts and services companies serving heavy, medium and light duty vehicles in the United States.” He further added, “During the last four years, our commercial fleet sales have grown from approximately 10% to 40% of Fleet Segment revenue, driven by share gains across both commercial fleet and e-commerce fulfillment channels. Looking ahead, we anticipate this distribution center will contribute more than $50 million in new, incremental sales to our Fleet segment in 2023.” (Source – Business Wire) About VSE Corporation VSE is a customized solution provider to support mission-critical platforms for commercial and government aircraft, ships and vehicles. The company is registered as a professional services and supply chain management firm primarily offering its services to Fleet Management Services, Federal & Defense Services, and Aerospace Distribution & Repair. It provides technical and engineering services to operators and owners of equipment and transportation assets, large, mission-critical fleets of aircrafts, vehicles and ships.

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SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

Relay Payments Optimizes Schneider’s Billing Accuracy and Fraud Prevention

Relay Payments | January 19, 2023

Fintech firm, Relay Payments, primarily providing payment solutions to the supply chain, logistics and trucking sectors, recently announced the testing of its lumper payment solution by Schneider. The pilot testing program undertaken by Schneider, a multimodal transportation, intermodal and logistics provider, earlier this year resulted in immediate advantages including billing accuracy, fraud detection and driver benefits. As a result, Schneider will now implement Relay’s payment solution for its entire fleet of 12,000+ drivers and 10,000+ power units. Relay’s solution has already shown improvements for Schneider’s customer service and operations teams. Drivers started paying directly from their cabs the warehouse fees, reducing time authorizing cash payments or fleet checks from their phones. This contactless, digital payment process saved significant time for every delivery, while the finance team received instant e-receipts resulting in improved customer billing and guaranteed reimbursements. Ryan Droege, Co-founder and CEO at Relay, said, "Relay Payments is rapidly growing, but we remain laser focused on developing products that solve real problems our customers face every day.” He further added, "Schneider is a known innovator that sets the tone for best practices, so working with them is a huge step toward digitally transforming the logistics industry. We couldn't be more excited to partner with them." (Source: CISION) Relay’s payment solutions are used by more than 300,000 carriers and drivers today, including businesses throughout logistics, transportation supply chain. From large carriers like Schneider to truck stops, warehouses and freight brokers use Relay for easier over-the-road expense payments. About Relay Payments Founded in 2019,Relay Payments, a venture-backed fintech firm, provides instant digital payments through Relay to replace the extended payment authorization process, which frequently caused delays in cargo unloading and other issues including missing receipts and fraudToday, the company collaborates with the biggest carriers, freight brokers, and 3PLs in North America as well as smaller fleets and independent owner operators to automate over-the-road payments and guarantee that goods reach store shelves as soon as possible.

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SUPPLY CHAIN

OMP Organizes Think Tank to Research Outside-in Supply Chain Planning

OMP | January 30, 2023

OMP, one of the prominent providers of supply chain planning solutions, has recently launched Spark Initiative, a think tank, to research supply chain planning from an outside-in perspective. It will use massive external data and high-level technology to improve the decision-making of its customers. The primary objective of the Spark Initiative is to provide the OMP community a platform to learn, share and test the outside-in capabilities. It will use data regarding weather and climate patterns, holidays, political and economic factors, consumption trends and data from smart devices to study the factors affecting the supply chain. In addition, it will collect real-time business feedback from customers and insights from a few selected companies for research, and its findings will be made public. The advisory board of the initiative comprises of leaders, academics, industry professionals and OPM experts, led by Lora Cecere, CEO of Supply Chain Insights, they will devise the conceptual framework and keep an eye on the pilot tests. Dave Winstone, Global ISC Director at Dow and Spark Board Member, said, "I'm excited to participate in the Spark Initiative because it's the next frontier in supply chain planning." He added, "How do we harness all these signals out there? How do we identify which ones matter most to our business? What do they mean to us and to our ecosystem partners? In the end, it's not companies that compete, but the ecosystems around us. We have to make the ecosystems more effective to be able to stay competitive. And I believe this initiative will bring us one step closer to that goal." (Source – Globe Newswire) Philip Vervloesem, Senior Vice President of OMP USA, said, "Now is the time for supply chain leaders to redefine their planning processes. The active participation of Fortune 500 companies like Dow, General Mills, Nestlé, and Land O'Lakes confirms the need to explore groundbreaking ways of planning. I look forward to deep-diving into this fresh pool of possibilities together with our valued customers." (Source – Globe Newswire) About OMP OMP is a software company providing customized supply chain planning solutions. Its global clients include ArcelorMittal, BASF, Michelin, Procter &Gamble, Dow, Shaw, Yoplait, Shell, Smurfit Kappa, and Shell. Headquartered in Belgium, it has a vast network of partners needed to optimize supply chain performance for clients anywhere. It renders industry-specific solutions from consumer goods to metals. Its digitalized supply chain planning solutions helps companies to channelize their excellence and growth.

Read More

SUPPLY CHAIN, TRANSPORTATION

VSE Corporation’s New Fulfillment Center Expands Fleet Segment Supply Chain Operations

VSE Corporation | January 25, 2023

Leading aftermarket distribution and maintenance, repair and overhaul (MRO) services provider, VSE Corporation, yesterday announced its all-new e-commerce fulfillment and distribution center in greater Memphis, Tennessee area. The company serves government and commercial markets with MRO services for air, sea and land transportation assets. VSE’s new state-of-the-art center is spread over 450,000 sq.ft., double the size the current warehouse for its fleet segment. This new center provides VSE’s Wheeler Fleet Solutions segment with the additional capacity to meet the growing demand for aftermarket products for its commercial and e-commerce fleet customers. VSE’s new fulfillment center is to support faster, same-day deliveries including order-to-delivery. This allows for additional shipping options, while ensuring the best level of services for the company’s aftermarket parts distribution portfolio. The new center harnesses a warehouse management system (WMS) and automation to increase productivity and capacity while maintaining order and delivery accuracy. The center can stock more than 175,000 SKUs when operating at full capacity. John Cuomo, President and CEO of VSE Corporation, said, “The addition of our new distribution center is an important strategic milestone for our Wheeler Fleet Solutions subsidiary, one of the leading fleet-focused parts and services companies serving heavy, medium and light duty vehicles in the United States.” He further added, “During the last four years, our commercial fleet sales have grown from approximately 10% to 40% of Fleet Segment revenue, driven by share gains across both commercial fleet and e-commerce fulfillment channels. Looking ahead, we anticipate this distribution center will contribute more than $50 million in new, incremental sales to our Fleet segment in 2023.” (Source – Business Wire) About VSE Corporation VSE is a customized solution provider to support mission-critical platforms for commercial and government aircraft, ships and vehicles. The company is registered as a professional services and supply chain management firm primarily offering its services to Fleet Management Services, Federal & Defense Services, and Aerospace Distribution & Repair. It provides technical and engineering services to operators and owners of equipment and transportation assets, large, mission-critical fleets of aircrafts, vehicles and ships.

Read More

SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

Relay Payments Optimizes Schneider’s Billing Accuracy and Fraud Prevention

Relay Payments | January 19, 2023

Fintech firm, Relay Payments, primarily providing payment solutions to the supply chain, logistics and trucking sectors, recently announced the testing of its lumper payment solution by Schneider. The pilot testing program undertaken by Schneider, a multimodal transportation, intermodal and logistics provider, earlier this year resulted in immediate advantages including billing accuracy, fraud detection and driver benefits. As a result, Schneider will now implement Relay’s payment solution for its entire fleet of 12,000+ drivers and 10,000+ power units. Relay’s solution has already shown improvements for Schneider’s customer service and operations teams. Drivers started paying directly from their cabs the warehouse fees, reducing time authorizing cash payments or fleet checks from their phones. This contactless, digital payment process saved significant time for every delivery, while the finance team received instant e-receipts resulting in improved customer billing and guaranteed reimbursements. Ryan Droege, Co-founder and CEO at Relay, said, "Relay Payments is rapidly growing, but we remain laser focused on developing products that solve real problems our customers face every day.” He further added, "Schneider is a known innovator that sets the tone for best practices, so working with them is a huge step toward digitally transforming the logistics industry. We couldn't be more excited to partner with them." (Source: CISION) Relay’s payment solutions are used by more than 300,000 carriers and drivers today, including businesses throughout logistics, transportation supply chain. From large carriers like Schneider to truck stops, warehouses and freight brokers use Relay for easier over-the-road expense payments. About Relay Payments Founded in 2019,Relay Payments, a venture-backed fintech firm, provides instant digital payments through Relay to replace the extended payment authorization process, which frequently caused delays in cargo unloading and other issues including missing receipts and fraudToday, the company collaborates with the biggest carriers, freight brokers, and 3PLs in North America as well as smaller fleets and independent owner operators to automate over-the-road payments and guarantee that goods reach store shelves as soon as possible.

Read More

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