The Role of ERP in Supply Chain Management

Shefali Vasave | August 3, 2022 | 2735 views | Read Time : 02:03 min

The Role of ERP in Supply
In the past couple of years, supply chain management has witnessed massive disruption. The implications of the pandemic have put pressure on manufacturers to revisit and reimagine how they manage their supply chains. This is why ERP software is so mission critical in supply chain management.  It not only helps supply chain chiefs reduce overhead costs but also enhance efficiencies and timely deliveries. Here are a few ways ERP plays a role in supply chain management to keep it moving.


Complete Visibility

Having a 360-degree view of the supply chain is integral to making the right decisions regarding procurement and purchase of materials and inventory. It also allows suppliers to have complete control and course correct when necessary. The insight into the complete supply cycle allows suppliers to respond to customer queries better.        


Inventory Tracking

ERPs are truly a one stop shop for manufacturers. They feature extensive inventory tracking on one system so manufacturers are in the loop about inventory control and can better optimize their inventory and resources. For manufacturers it is crucial to know where their inventory is, what has been shipped, what is on hand at all times. With ERPs, it becomes cheaper to keep a stock of the inventory and place orders when it’s running low.


Vendor Performance

Vendor performance is an essential aspect of supply chain management. Being able to compare vendors, measure certain quality and quantity metrics and identify bottle necks help suppliers choose the right vendor as well as gives purchasing departments the power to negotiate for better pricing by consolidating purchase. ERPs allow suppliers to do all the above and more.


Procurement

Procurement of goods can be a complex process if done without the right tools. It also impacts the whole supply chain so it is doubly imperative to ensure the procuring and supply of goods is on time. This is especially true in an environment of custom manufacturing. Add to that the requirement of procuring products with lengthy lead times, manufacturers need to take into considerations product that need to be ordered long before they are even designed. ERPs allow manufacturers to keep all departments including engineering and warehousing to work in sync and plan to procure goods on time.


Real-time Reports

Reporting is labor intensive and can be inefficient when it comes to gathering and processing data. With ERPs, manufacturers can generate reports in real-time and all manual data collection processes are replaced with automation, saving time and money in viewing the insights into the movement of products in the supply chain. It enables manufacturers to get a better understanding and make timely decisions that improve the overall efficiency of the supply chain.


To Conclude

ERP systems offer endless opportunities for manufacturers to improve their processes, save time and resources and optimize and enhance inventory planning. With the right tools, it is possible to establish supply chain management that outperforms and is resilient even in disruptive times.

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SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

How to Maximize Efficiency with Supply Chain Planning Systems?

Article | July 18, 2022

Automated supply chain planning maximizes efficiency and helps achieve long-term success by addressing challenges, highlighting the benefits, and offering insights to optimize business performance. Contents 1 Supply Chain Planning System Efficiency Maximization 2 Key Steps of Supply Chain Planning to Boost Efficiency 2.1 Implement Advanced Analytics Tools 2.2 Streamline Communication and Collaboration 2.3 Automate Processes 2.4 Consistency in Performance Improvement 3 Overcoming Major Challenges in the Process to Maximize Efficiency 3.1 Resistance to Change 3.2 Legacy Systems and Siloed Data 3.3 Inadequate Funding 4 Conclusion 1 Supply Chain Planning System Efficiency Maximization To compete and succeed in an ongoing complex and dynamic global market, companies must maximize the efficiency of their supply chain planning systems, which help manage the flow of goods and services from suppliers to customers, optimize resources and information to meet customer demands and minimize costs and risks. An adequate supply chain planning system can increase customer satisfaction, profitability, agility, and risk management. Moreover, by reducing costs, increasing productivity, and enhancing responsiveness to market demands, maximizing efficiency can help businesses remain competitive. As a result, businesses can gain a substantial competitive edge and position the organization for long-term success by optimizing their supply chain planning systems. 2 Key Steps of Supply Chain Planning to Boost Efficiency Businesses can significantly boost efficiency in their supply chain planning by implementing advanced analytics tools, streamlining communication and collaboration, automating processes, and ensuring consistency in performance improvement. 2.1 Implement Advanced Analytics Tools Implementing advanced analytics in supply chain planning is key to improve supply chain efficiency. Advanced analytics tools, including demand forecasting, production planning and inventory management, can help organizations leverage large volumes of data to extract insights that enable better decision-making. The insights can be used to optimize production planning, reducing costs and increasing efficiency. In addition, it also enables businesses to detect and respond to supply chain disruptions on operations. 2.2 Streamline Communication and Collaboration Managing and streamlining communication becomes essential for supply chain businesses, as it leads to greater agility and enables pipelines to adapt to changes in organizational structures. Leveraging cloud-based communication platforms, video conferencing, and collaboration tools enable real-time information sharing and collaboration across different teams and stakeholders. By enhancing communication and collaboration, businesses can better align their supply chain objectives, reduce communication gaps, and enhance decision-making. 2.3 Automate Processes The integration of technologies such as order processing, inventory management, and shipment tracking under warehouse automation and logistics automation produces a vast amount of data, making it challenging for businesses to process data manually. To enhance efficiency, automating supply chain planning processes has become essential. Automating the process has eliminated multitasking, including managing goods flow, tracking road progress, and ensuring safe delivery, which was previously required in the manual process. By automating processes, supply chain management can be streamlined, leading to reduced lead times, minimized costs, and improved efficiency. 2.4 Consistency in Performance Improvement Improving the supply chain is not a one-time fix, but a process that must be reviewed and optimized frequently. By implementing technology, businesses can continuously collect and analyze warehouse inventory management performance to identify areas for further efficiency gains and improved order accuracy. In addition, establishing a framework for continuous optimization involves regular performance reviews, feedback mechanisms, and benchmarking against industry best practices to help identify and address inefficiencies. 3 Overcoming Major Challenges in the Process to Maximize Efficiency 3.1 Resistance to Change Supply chain planning systems are hindered by change resistance. Employees may resist change who are comfortable with the status quo and adopt new technologies and processes less often. Organizations need a comprehensive change management plan to address stakeholder engagement, communication, and training. Implementing a change management plan starts with identifying the key stakeholders and involving them in planning to gain their buy-in and support for the changes, implementing the process of the changes using different channels to reach all stakeholders and in addition, developing training programs to prepare employees for the changes and enable them to use new technologies and processes effectively. 3.2 Legacy Systems and Silos Data Data silos and a lack of supply chain visibility are two problems that can arise when legacy systems and data are used. It also adds roadblocks in maximizing efficiency through supply chain planning software. Investing in older systems makes it challenging to gain a comprehensive view of the supply chain and informed decisions making. In addition, the systems are non-compatible with modern technology and data is stored in disconnected systems. With the help of an integrated system, all relevant information can be collected in one place, streamlining monitoring and decision-making. A data governance policy should be implemented to guarantee data quality and uniformity across all platforms. Data management, data storage, data sharing, regular monitoring and reporting on data quality are all essential components of this policy. 3.3 Inadequate Funding Insufficient funding can affect supply chain planning system efficiency; with budget constraints, organizations may struggle to invest in new technologies, hire skilled workers, or improve processes. Thus, the supply chain planning system may become obsolete, increasing costs, lead times, and customer dissatisfaction. To overcome the challenge of inadequate funding in supply chain planning, organizations must prioritize funding and strategically allocate resources by identifying the areas that require the most investment. Exploring alternative funding sources, such as grants and partnerships, can supplement existing funding and enable organizations to invest in vital initiatives that may not have been possible with limited resources. In addition, cost-cutting measures, such as process optimization and automation, can help to stretch existing funds and boost productivity. 4 Conclusion The supply chain planning system will continue to play a critical role in maximizing efficiency to revolutionize the supply chain professionals leverage emerging technologies such as AI, ML, and blockchain; understanding the process, identifying the challenges and overcoming them using the right strategies helps businesses in effective supply chain planning systems, gain a competitive advantage, improve supply chain performance and position themselves for long-term success. Furthermore, adopting a data-driven approach and a culture of continuous improvement in supply chain management planning can help organizations plan according to the future of supply chain and compete in the ever-changing global market.

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SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

Enhancing Supply Chain Optimization with Emerging Technologies

Article | July 14, 2022

Leveraging technology and resources within a network is key to supply chain optimization. While supply chains are inherently complex, this complexity can lead to significant technological benefits. Contents 1 Overview and Importance of Emerging Technologies in Optimizing Supply Chain 2 Advantages of Incorporating Emerging Technologies in Enhancing Optimization 2.1 Autonomous Delivery 2.2 Cognitive Automation 2.3 Blockchain-enabled Traceability 2.4 Predictive Maintenance 3 Key Challenges in Adopting Emerging Technologies 3.1 Cost and Budget Constraints 3.2 Skills Gap in Talent 3.3 Privacy and Data Security Concerns 4 Overcoming Challenges 4.1 Adopting Technologies for Managing Budget and Cost 4.2 Developing Talent Pipeline 4.3 Implementing a Zero Trust Security Model 5 Future Outlook Supply chain optimization involves maximizing the utilization of technology and resources within a supply network. Although supply chains are inherently complex, this complexity can yield significant technological advantages, particularly when leveraging the combination of blockchain, artificial intelligence (AI), and Internet of Things (IoT) technologies. 1 Overview and Importance of Emerging Technologies in Optimizing Supply Chain Emerging technologies have transformed the supply chain industry and revolutionized business operations. AI, IoT, blockchain, and robotics are getting prominence with the ability to streamline supply chain processes, reduce costs, increase efficiency, and ultimately boost customer satisfaction. Implementing these technologies can give businesses real-time supply chain visibility, reducing waste and enhancing inventory management. Understanding the potential benefits of these emerging digital supply chain technologies and how they can be implemented within the supply chain is essential for any business that intends to stay in a competitive and rapidly evolving market. 2 Advantages of Incorporating Emerging Technologies in Enhancing Optimization Blending operations with emerging supply chain technologies can significantly improve the speed and accuracy of information flow, minimize manual intervention, and reduce lead times. Additionally, these technologies can provide enhanced visibility into supply chain operations, enable effective risk management, and facilitate proactive decision-making. 2.1 Autonomous Delivery Incorporating autonomous delivery that comes with self-driving vehicles benefits businesses beyond faster delivery times, lowers costs and reduces human error. It offers increased safety, greater flexibility, and improved resource management. It benefits industries like e-commerce and logistics, where quick and efficient delivery is crucial. 2.2 Cognitive Automation Businesses face significant challenges due to unpredictable fluctuations in supply and demand, which can strain their existing technology. To mitigate these risks, executives have increased their investments in risk management. Cognitive automation offers three key benefits in supply chain management: identifying challenges and opportunities, gathering demand signals, and utilizing data for decision-making. Cognitive automation makes balancing supply and demands more efficient and effective, allowing businesses to act faster. 2.3 Blockchain-enabled Traceability Blockchain technology, a distributed ledger system, enables secure, transparent, and traceable record-keeping across a supply chain network. By providing a tamper-proof record of product movement and quality, blockchain technology can enable businesses to verify the authenticity and integrity of their products at each stage of the supply chain. In addition, blockchain technology allows businesses to quickly trace product origins and identify affected batches during recalls. 2.4 Predictive Maintenance Predictive maintenance is a technology that uses machine learning algorithms and Internet of Things sensors to predict impending equipment failures. By analyzing equipment performance data, predictive analytics enables businesses to reduce equipment downtime, lower maintenance costs, and increase reliability. With predictive maintenance, businesses can transition from reactive to proactive maintenance, preventing equipment failures and extending equipment lifecycles. 3 3 Key Challenges in Adopting Emerging Technologies 3.1 Cost and Budget Constraints The executives in the supply chain industry face a significant challenge when adopting emerging supply chain technologies due to the associated costs and budget constraints. While these smart supply chain technologies offer long-term benefits, the upfront investment can deter businesses. Businesses need to consider the total cost of ownership, including implementation, training, ongoing maintenance costs, and the potential return on investment. 3.2 Skills Gap in Talent Incorporating emerging technologies and trends in supply chain operations management is a complex and costly investment that demands a highly skilled workforce to implement and operate such supply chain technologies successfully. A significant skills gap while adopting technology in the supply chain industry poses a challenge for businesses in finding and training competent personnel with technical, analytical, and business skills required to handle emerging technologies. 3.3 Privacy and Data Security Concerns As supply chain operations adopt cutting-edge technologies, companies must address privacy and data security issues. The use of technology requires the collection and dissemination of sensitive data across multiple parties, which raises security and privacy concerns that can be exploited by cybercriminals or unauthorized personnel. Failure to adequately address these issues may result in reputational harm, legal and financial penalties, and a loss of customer confidence. 4 Overcoming the Challenges 4.1 Adopting Technologies for Managing Budget and Cost To overcome the challenge of budget and cost constraints in adopting technology in the supply chain, businesses can leverage innovative tools, such as cost management software and advanced analytics tools, which can provide real-time visibility into cost drivers and enable better decision-making to optimize resource utilization. With the top three technologies in supply chain such as AI, IoT and blockchain, businesses can reduce costs, boost supply chain performance, and maintain market competitiveness. AI predicts demand, maximizes inventory and improves transportation; RPA automates manual tasks, reduces labor costs, and cloud computing provides a flexible and scalable IT infrastructure with reduced upfront investments. 4.2 Developing Talent Pipeline Businesses must invest in building a talent pipeline to ensure a steady supply of skilled employees to narrow the skills gap in the supply chain industry. Collaboration with educational institutions, in-house training programs, and managed service providers from the technology industry can all be part of the answer. The organization's competitiveness and success can be increased by creating a talent pipeline to fill the skills gap between the current workforce and the needs of emerging technologies. Businesses can keep their workforce current and ready to adopt new technologies in supply chain by investing in a talent pipeline. 4.3 Implementing a Zero Trust Security Model As businesses adopt emerging technologies for supply chain operations, privacy, and data security, concerns have become a formidable obstacle. The implementation of a zero-trust security model can aid in addressing this difficulty. Before gaining access to any data or system, all users and devices in this model must be authenticated as potential threats, per this model. This strategy protects data and systems from unauthorized access and enables businesses to comply with regulations such as the GDPR and CCPA. In addition, it can provide supply chain visibility and control over data access in real-time, making it more effortless to detect and respond to security threats. 5 Future Outlook Supply chain leaders view emerging supply chain technology as a competitive advantage and as a means to address digital transformation. In addition, there is a focus on supply chain technologies that improve human decision-making and manage assets at the edge. Organizations should unify their technology portfolio and update legacy systems for greater efficiency. As supply chain complexity increases, we can expect even more advanced technology solutions leveraging big data, machine learning, and robotics to create agile, flexible, and sustainable supply chains.

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SUPPLY CHAIN

Transform Supply Chain with Effective Demand Forecasting Techniques

Article | May 22, 2023

Efficient demand forecasting techniques transform supply chain management, help optimize inventory levels, streamline operations, improve customer satisfaction, and achieve a competitive edge. Contents 1. How Accurate Demand Forecasting Impacts Business Operations and Profitability? 2. Navigating the Pitfalls of Traditional Demand Forecasting 2.1 Limitations of Manual Forecasting Methods 2.2 Inaccuracy and Inconsistency in Demand Prediction 2.3 Multiple Products and Markets Challenges 2.4 Influence of External Factors on Demand Forecasting 3. Advanced Demand Forecasting Techniques for Supply Chain Management 3.1 Statistical Forecasting 3.2 Collaborative Demand Planning 3.3 Demand Sensing and Real-time Data Analytics 3.4 Agile Supply Chain Management Practices 4 Summing up 1. How Accurate Demand Forecasting Impacts Business Operations and Profitability? Accurate demand forecasting plays a vital role in determining the operations and profitability of a business. By anticipating future demand, companies can more effectively plan their production, inventory management, and supply chain activities to meet customer needs while minimizing costs. Additionally, accurate demand forecasting can aid businesses in enhancing customer satisfaction by proactively meeting customer needs and expectations, improving customer experiences and increasing customer loyalty. To generate actionable insights that drive informed decision-making, businesses must leverage advanced analytics and predictive modeling techniques that combine data from various sources with industry-specific knowledge and expertise. “Businesses that leverage advanced analytics and predictive modeling techniques for demand forecasting report an average of 5% improvement in their supply chain efficiency.” (Source: A survey by Deloitte) Supply chain businesses frequently rely on sales data from the past, which may not be sufficient in the complex and rapidly changing business environment. Businesses might not observe an improvement in operations and profitability if they rely solely on conventional methods. 2. Navigating the Pitfalls of Traditional Demand Forecasting As businesses strive to optimize their supply chain operations and meet customer demand, traditional demand forecasting methods can often hinder their efforts. In this context, it is essential to navigate the pitfalls of such techniques to achieve success in supply chain management. 2.1 Limitations of Manual Forecasting Methods Manual forecasting methods have limitations that can affect demand forecasting accuracy in supply chain management. Frequently based on historical data, these methods can overlook emerging trends in supply chain management and alterations in customer behavior. In addition, manual processes are time-consuming, prone to error, and incapable of incorporating real-time supply chain data. As a result, businesses struggle to optimize supply chain operations and meet customer demand. In addition, traditional forecasting methods can influence the ability to accurately predict demand, resulting in overstocked inventory, delivery delays, and, ultimately, poor customer satisfaction. Inaccurate demand forecasts can also result in poor purchasing decisions and increased carrying costs, negatively impacting profitability. 2.2 Inaccuracy and Inconsistency in Demand Prediction Inaccuracy and inconsistency in demand forecasting pose significant obstacles in managing the supply chain. This is the case in the dynamic business environment, where market conditions can change rapidly, making it challenging for companies to keep up with shifting demand patterns. As traditional demand forecasting methods depend heavily on historical data, they produce inaccurate forecasts that do not reflect real-time market changes. In addition, inconsistency in demand forecasting can also result in a mismatch between supply and demand, leading to missed opportunities or excess inventory. As a result, creating an effect on company’s bottom line in addition to customer satisfaction. 2.3 Multiple Products and Markets Challenges Accurate demand forecasting is crucial to the success of supply chain management. When there are multiple products and markets to manage, it becomes a challenge for traditional demand forecasting. Different products and markets may have varying demand patterns and drivers, making it difficult for businesses to accurately forecast demand. Manual processes and siloed data can hinder visibility and the ability to identify cross-product or cross-market trends, making supply chain optimization operations and meeting customer demand more complex. Managing multiple products and markets is one of the challenges of traditional demand forecasting when businesses operate in various markets with varying customer preferences and demand patterns for products. 2.4 Influence of External Factors on Demand Forecasting External factors can significantly impact the demand forecasting accuracy for supply chain optimization. These factors are often unpredictable, and conventional methods may not account for them. The external factors affecting the supply chain include natural disasters, economic recessions, and sudden changes in consumer behavior. In addition, political and regulatory modifications, such as tariffs or trade agreements, can affect the supply and demand of particular products. Therefore, businesses must incorporate these external factors into their demand forecasting models and advance the process, as traditional demand forecasting methods cannot predict accurate future demand patterns and ensure optimal supply chain operations. 3. Advanced Demand Forecasting Techniques for Supply Chain Management To avoid the above-mentioned pitfalls, companies need to adopt advanced demand forecasting techniques that enable capturing and analyzing huge data from various sources to generate accurate and real-time demand forecasts. 3.1 Statistical Forecasting Statistical forecasting is an advanced method for demand forecasting in supply chain management that utilizes complex algorithms and statistical models to analyze historical data, identify trends, and generate forecasts. This method employs numerous statistical techniques, including regression analysis, time-series analysis, and exponential smoothing, among others. Statistical forecasting can help businesses overcome some of the limitations of traditional manual forecasting methods because it is more objective, data-driven, and capable of identifying trends and patterns which are not apparent with manual forecasting methods. As a result, by utilizing statistical forecasting, businesses can increase demand forecasting accuracy, optimize inventory management, and better align supply and demand, resulting in enhanced customer satisfaction, greater efficiency, and lower costs. 3.2 Collaborative Demand Planning Collaborative Demand Planning combines intensive forecasting algorithms to predict future demand and a set of ML techniques to achieve better demand forecasting. It involves collaboration between suppliers, customers, and other stakeholders. The advanced data and insights sharing technique improve the comprehensive understanding of demand drivers and trends, leading to more accurate demand forecasting. The collaborative approach enables real-time adjustments to demand forecasts, which can help businesses respond promptly to market conditions and customer demand changes. In addition, using advanced analytics and machine learning algorithms can help identify patterns and trends that would otherwise go unnoticed. That enables businesses to optimize inventory levels, reduce under and overstocking, and enhance customer service levels. In the dynamic business environment, it helps transform the supply chain that is better equipped to meet the ever-changing demands of customers. 3.3 Demand Sensing and Real-time Data Analytics Demand Sensing and Real-time Data Analytics are advanced demand forecasting techniques that can assist businesses in overcoming the challenges that multiple products and markets pose to the supply chain. By utilizing real-time data from various sources, such as social media, point-of-sale systems, and weather reports, businesses can better understand customer demand patterns, adjust inventory and production planning, reduce delay, and increase responsiveness. In addition to implementing demand sensing, businesses can begin with sell-in data obtained from supply chain planning or an ERP system in supply chain management and then incorporate all relevant data sources and external factors to broaden the forecasting horizon. 3.4 Agile Supply Chain Management Practices Agile supply chain management practices are a collection of methodologies and strategies emphasizing supply chain operations' adaptability, responsiveness, and flexibility. These practices involve utilizing real-time data analytics, collaborative planning, and other advanced technologies to enable businesses to respond swiftly to changes in customer demand, market conditions, and other external factors. Adopting an agile model allows the organization to act swiftly and decisively and achieve successful business outcomes despite adverse conditions. Agile supply chain management practices can give companies greater visibility and control over their supply chains, enabling them to adapt more effectively and efficiently to fluctuating market conditions in the context of external factors influencing demand forecasting. By cultivating a culture of continuous improvement, innovation, and customer value, agile supply chain management practices have the potential to transform into modern supply chain. 4. Summing up Demand forecasting accuracy is crucial for supply chain management and profitability. Manual forecasting methods hinder operational optimization and customer demand fulfillment. Customer satisfaction, purchasing decisions, and carrying costs suffer from inaccurate forecasting. In order to avoid these pitfalls, businesses can leverage statistical forecasting and collaborative demand. These methods recognize trends and patterns, optimize inventory levels, reduce over- and under-stocking, and improve customer service using advanced analytics and machine learning algorithms. As the supply chain evolves and becomes more complex, businesses must adopt advanced demand forecasting techniques. Implementing these techniques will enable businesses to optimize their supply chain management by better-aligning supply and demand, resulting in increased productivity, decreased costs, and ultimately increased profits.

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SUPPLY CHAIN

Optimize B2B Supply Chain: Maximizing Efficiency from Planning to Delivery

Article | March 23, 2023

Efficiency is crucial for B2B supply chain success. Effective supply chain management techniques can streamline operations, reduce costs, and enhance customer satisfaction from planning to delivery. Contents 1. Strategic Planning to Enhance Supply Chain Optimization 1.1 Roadmap for Developing Supply Chain Optimization 1.2 Integrating Supply Chain Strategy with Business Strategy for ROI Growth 2. Effective Procurement Strategies to Maximise ROI in Supply Chain 2.1 Supplier Relationship Management 2.2 Cost-effective Procurement Processes 2.3 Continuous Improvement and Innovation 2.4 Risk Management and Mitigation 3. Optimizing Supply Chain with Effective Demand Forecasting Techniques 3.1 Anticipate Future Demand 3.2 Overstocking and Understocking Risk Management 3.3 Integrated Forecasting approach between Supply Chain Stakeholders 4. Emerging Technologies for Supply Chain Optimization Leveraged by Enterprises 4.1 AI and ML 4.2 Blockchain Technology 4.3 IoT 4.4 Augmented Reality and Virtual Reality 5. Leading Solution Providers for B2B 6. Conclusion Optimizing the B2B logistics and supply chain management has become a crucial business strategy to increase efficiency, cut costs, and boost customer satisfaction in the fiercely competitive business environment. With the increasing customer demand, supply chain managers now emphasize on faster, more precise, and unique ways to fulfill orders with enhanced logistics management techniques. “Companies that optimize their supply chain operations experience a 2.3 times greater EBITDA (earnings before interest, taxes, depreciation, and amortization) than their competitors.” (Source - A survey by Deloitte in 2020) Despite the significance of supply chain optimization, it is challenging to keep up with the latest industry trends and best practices due to the dynamic nature of the logistics industry. Learning the value of optimizing the B2B supply chain and how it can assist businesses in keeping up with the ever-growing demands of their customers through planning, strategizing and leveraging technologies helps businesses maintain a competitive advantage and achieve sustainable growth. 1. Strategic Planning to Enhance Supply Chain Optimization To achieve optimal results, businesses must develop a comprehensive plan outlining their supply chain improvement goals, objectives, and strategies. 1.1 Roadmap for Developing Supply Chain Optimization Developing a roadmap for supply chain optimization includes reviewing current operations that help in identifying the strengths and weakness of the supply chain management and assist in recognizing the opportunities for improvement, establishing SMART goals and objectives, defining strategies to meet these goals, involve streamlining processes, investing in technology, improving supplier relationships, and engaging customers and actions, as well as ensuring market adaptability to accommodate changing market conditions and evolving customer needs through assessment and adjusting the roadmap. 1.2 Integrating Supply Chain Strategy with Business Strategy for ROI Growth Integration of the supply chain involves aligning the supply chain objectives with the overall business goals, such as revenue growth, cost reduction, and customer satisfaction. The integration ensures the supply chain operations support the business goals, like cost reduction, customer satisfaction and revenue growth. "Companies that successfully integrate their supply chain and business strategies can reduce operating costs by 10-15% and increase efficiency by 20-30%.” (Source - A study by Accenture in 2020) The alignment further helps track KPIs and data-driven decision-making and continuously improves the supply chain operations to achieve objectives. Furthermore, it assists in better planning, coordination, and execution of supply chain activities, resulting in faster and more accurate fulfillment of customer orders. 2. Effective Procurement Strategies to Maximize ROI in Supply Chain Procurement strategies can raise productivity in the fast-paced logistics management and supply chain industry by optimizing the supply chain, boosting efficiency, and giving a competitive edge. 2.1 Supplier Relationship Management Effective supplier relationship management (SRM) can result in more competitive pricing, enhanced product quality, and increased dependability. To accomplish SRM, businesses must identify key suppliers, develop partnerships, communicate effectively to ensure clear expectations and mutual understanding, share information and collaborate to foster innovation and continuous improvement. 2.2 Cost-effective Procurement Processes Implementing cost-effective procurement procedures can help businesses reduce expenses and enhance productivity. To achieve cost-effectiveness, businesses should streamline operations to save time and money, leverage technology to automate processes and improve accuracy and negotiate with suppliers for better pricing and terms. 2.3 Continuous Improvement and Innovation Continuous improvement and innovation are necessary for logistics and the supply chain to remain competitive. This involves regularly reviewing and updating procurement processes, supporting supplier innovation, and keeping up with procurement and supply chain management technology trends and developments. 2.4 Risk Management and Mitigation Effective risk management and mitigation strategies are essential to prevent disruptions in the supply chain. To achieve this, businesses should focus on identifying potential risks and developing mitigation strategies, incorporating redundancy into the supply chain to minimize the impact of disruptions, and establishing transparent emergency communication and escalation procedures. 3. Optimizing Supply Chain with Effective Demand Forecasting Techniques 3.1 Anticipate Future Demand Accurate demand forecasting is crucial for supply chain optimizing done by analyzing real-time supply chain data to identify trends. For demand forecasting, businesses can utilize historical sales data, market trends, and customer feedback. To make accurate forecasts, companies must consider various factors influencing demand, such as seasonality, economic conditions, and shifting customer preferences. 3.2 Overstocking and Understocking Risk Management Demand forecasting errors can lead to overstocking and understocking in supply chain management. Using demand forecasting rightly can determine the optimal inventory level at any given time to avoid overstocking and understocking. Businesses can predict demand and adjust inventory by analyzing sales data, market trends, and other factors. 3.3 Integrated Forecasting approach between Supply Chain Stakeholders The integrated forecasting approach entails coordinating data sharing and communication between all supply chain stakeholders, from suppliers to customers. Stakeholder participation in demand forecasting improves accuracy. In addition, each stakeholder has unique knowledge and perspective that can help identify trends and patterns. 4. Emerging Technologies for Supply Chain Optimization Leveraged by Enterprises 4.1 AI and ML Leading SCM providers do offer regression modeling and causal analysis for demand forecasting. Using AI and ML, the functionality is embedded within the DP module. If a more rigorous and sophisticated approach is desired, it is possible to forecast demand numbers outside the SCM system using sophisticated modeling and then upload them back into the SCM system. 4.2 Blockchain Technology Blockchain enables secure, transparent, and decentralized transactions. It can be utilized in the supply chain to track the movement of goods, reduce the risk of fraud, and increase supply chain visibility by maintaining an immutable record of every transaction. 4.3 IoT To monitor humidity, temperature control, and other environmental factors that affect the quality of products while in transit. IoT helps businesses enhance supply chain visibility, reduce product spoilage risk, and enhance customer satisfaction using modern temperature control technology. 4.4 Augmented Reality and Virtual Reality AR and VR technologies are transforming the supply chain by improving the accuracy of inventory management, reducing errors, and enhancing the training of employees. In addition, its tools can be used to create digital representations of warehouses, products, and equipment, allowing employees to visualize the supply chain and identify areas for improvement. 5. Leading Solution Providers for B2B Several leading B2B companies have been identified based on research for supply chain optimization. To optimize supply chains, these companies have demonstrated a commitment to strategic planning, effective procurement strategies, and demand forecasting techniques. The solution providers also recognize the significance of managing risks associated with overstocking and understocking and have implemented integrated forecasting approaches with their supply chain partners and customers. In addition, these companies use emerging technologies such as augmented reality, virtual reality, cloud technology, machine learning and AI, blockchain technology, and the IoT to improve their supply chain operations. By prioritizing supply chain optimization, the following B2B companies gain a competitive advantage within logistics and supply chain industries and provide exceptional customer experiences. Coupa Software The supply management solutions offered by Coupa Software are hosted in the cloud and make use of machine learning and artificial intelligence to provide businesses with insights that can be used for data-driven decision-making.It assists businesses in tracking the performance of their supply chains compared to key performance indicators, identifying areas in which advancements can be made, and taking action to optimize their supply chain operations. Stord Stord a platform provider, offers a suite of software solutions that improve supply chain management for businesses. Its warehousing, transport, and inventory management solutions are integrated into a single platform. As a result, Stord offers companies greater visibility and control over their supply chains, allowing them to make more informed decisions and optimize operations by combining these functions into a single platform. Roambee Roambee is an artificial intelligence (AI)-powered platform that provides improved supply chain and visibility solutions for real-time, on-demand, and end-to-end data. Using cloud data analytics and automation, it assists in monitoring shipments, inventories, and returnable assets to provide dependable and responsive monitoring solutions. The result is a return on investment (ROI) of 4X or more on the supply chain assets by optimizing inventory levels and utilization. FlowSpace FlowSpace offers cloud-based supply chain solutions. With an internet connection, businesses can access real-time inventory, orders, and shipments from anywhere. Its solutions optimize inventory and demand fulfillment with machine learning and predictive analytics. In addition, IoT sensors and beacons provide accurate warehouse operations data for the company. FlowSpace uses cutting-edge technology to provide efficient and effective supply chain solutions. OPTEL Group OPTEL Group's cutting-edge traceability solutions help businesses optimize their supply chain. These solutions permit businesses to track their products and materials throughout the supply chain, from production to distribution. It's traceability solutions provide businesses with real-time visibility into their supply chain operations by utilizing advanced data capture technologies such as barcode scanning, RFID, and serialization. This allows them to identify potential bottlenecks, optimize workflows, and decrease waste and inefficiency. Blue Ridge Blue Ridge,a provider of cloud-based supply chain solutions, has developed a suite of solutions that make use of machine learning and artificial intelligence to improve the accuracy of forecasts, reduce the costs associated with inventory, and increase company's profitability. It does this by providing businesses with flexible and scalable solutions, as well as ones that can be adapted to meet the particular requirements of each business. GMDH Streamline GMDH Streamline makes use of complex algorithms to perform data analysis and provide insights that, when implemented in B2B logistics operations, can lead to increased efficiency and a reduction in costs. This software can analyze past sales data and make predictions about future demand patterns, which helps to ensure that the right products are always available for purchase. Because of this, there will be less of a need for excessive stockpiling, which can prevent the free flow of capital and raise the risk of stock obsolescence. Netstock Netstock's cloud-based solutions provide businesses the agility and responsiveness they need to stay competitive in the ever-changing business landscape. With its seamless integration with industry-leading ERPs, Netstock unlocks valuable ERP data and enables businesses to make informed decisions based on enhanced analytics. In addition, by leveraging Netstock's solutions, businesses can respond swiftly to supply and demand fluctuations, resulting in optimized logistics and efficient supply chain management. Solvoyo With Solvoyo's platform, businesses can optimize their supply chain performance, reduce inefficiencies, and achieve cost savings. In addition, the platform offers advanced scenario modeling and real-time analytics to help companies to make informed decisions and quickly adapt to changing market conditions. By leveraging Solvoyo's capabilities, businesses can achieve a competitive advantage and drive growth in the dynamic world of supply chain management. American Software, Inc. American Software provides logistics and supply chain companies with supply chain management software solutions. Its solutions including supply chain planning, warehouse management, transportation management, global trade management, and vendor inventory management are intended to assist businesses in optimizing their B2B logistics operations, increasing their efficiency, and lowering their expenses. In addition, it provides modern temperature control technology to ensure safe and efficient transport of temperature-sensitive goods in the supply chain. 6. Conclusion “The global supply chain management market size is expected to reach USD 37.4 billion at a CAGR of 11.3% by 2027." (Source - Grand View Research) The anticipated growth of the global supply chain management market presents businesses with opportunities to enhance their supply chain operations by implementing innovative technologies and strategies. The increase in market size indicates a growing demand for efficient supply chain management solutions that reduce costs, optimize efficiency, and improve customer satisfaction. Businesses can use AI, blockchain, and augmented reality to analyze real-time data, forecast demand, and streamline procurement. These technologies and strategies can give logistics and supply chain management businesses an edge in the increasingly competitive marketplace.

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Spotlight

INLAND LOGISTICA E TERMINAIS

INLAND is a port logistic provider with expertise on FOODS, SHIPOWNERS, ENERGY, HEALTH CARE, MINNING, STONES (slate and quartzito), PETROCHEMICAL and STEEL industries. Strategically located near ITAGUAI PORT, INLAND provides BOUNDED WAREHOUSE, CONTAINER YARD, CONTAINER FREIGHT STATION, CUSTOMS CLEARANCE, SEA FREIGHT, ROAD FREIGHT and BULK PORT OPERATIONS services.

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SOFTWARE AND TECHNOLOGY, OPERATIONS

Hy-Tek Intralogistics and Hai Robotics Announce Partnership

prnewswire | June 02, 2023

Hy-Tek Intralogistics, a premier integrator of full-service automation technology for the supply chain, has partnered with Hai Robotics, a leading provider of intelligent automated warehouse solutions. With Hy-Tek's IntraOne enterprise logistics platform, the addition of Hai Robotics' automated storage and retrieval systems (ASRS) solutions will help reduce a customer's storage footprints, increase workflow efficiency, maximize order pick accuracy, and improve daily order fulfillment rate. "We are excited to start our partnership with Hai, an up-and-coming innovator for the G2P space," said Zac Boehm, Vice President of Robotic Solutions at Hy-Tek Intralogistics. "By formalizing our partnership, it allows Hy-Tek to add to its existing solutions with a technology that allows for an earlier entry point with customers looking to adopt G2P technologies, further enforcing our goal to meet our customers where they are in their automation journey." Changing economic conditions, an increasingly tight labor market and consumer spending habits require today's supply chain to be adaptable and provide a faster ROI for customers than in the past. Hai's technologies, including their brand new HaiFlex and HaiPick A3 solutions, will allow Hy-Tek to provide solutions to their customers faster than ever. "The Hai technology allows us to provide solutions that require fast start ups, future scalability, and competitive costs," says Dave Tavel, Senior Vice President of Sales at Hy-Tek Intralogistics. "There is no reason to delay your adoption of robotics as a strategy for fulfillment. Hai's technology will support your business today and into the future, and Hy-Tek Intralogistics' platform, IntraOne will manage and optimize our customer's operations." With Hai's solutions, customers can further improve operational efficiency and storage density, meeting the needs of warehouses, DCs, and factories in the apparel, retail, e-commerce, and 3PL industries. "Hy-Tek has been a strong organization in the market since before I began my career. I've always had a lot of respect for the quality of their solutions, equipment, and systems," said Brian Reinhart, Hai Robotics CRO. "Hy-Tek's commitment to growth and integration has positioned the company to be an industry leader for years to come and Hai Robotics, having done the same on the manufacturing side, is very excited about the partnership." About Hy-Tek Intralogistics Headquartered in Columbus, OH, Hy-Tek Intralogistics is an automation technology integrator serving clients in diverse end markets and applications, including e-commerce, third-party logistics, and parcel. Hy-Tek is the premier single-source provider of material handling solutions for a wide range of industries including manufacturing, distribution, retail, construction, food, electronics, and automotive. Since 1963, Hy-Tek and its best-in-class industry partners have been providing customers large and small with turnkey solutions. From customized one-of-a-kind handling and storage systems to pre-assembled buildings and off-the-shelf products—Hy-Tek's experienced team of engineering, sales, operations, and project management professionals' partner with customers to help enhance productivity, streamline processes, and boost profitability. With over 500 employees, Hy-Tek serves customers in the United States, Canada, and Mexico from offices in Georgia, Illinois, Kentucky, New Jersey, Ohio, Pennsylvania, and Tennessee. About Hai Robotics Hai Robotics is a leading global provider of intelligent automated storage and retrieval systems (ASRS). Their ASRS solutions provide modern storage density, reach up to 32+ feet high, reduce customer's storage footprints up to 75%, increasing workflow efficiency gains up to 4x, maximizing order pick accuracy to 99.9+%, and improve daily orders fulfilled rate over 170%. Hai Robotics' Autonomous Case-handling Robots (ACR) are the key equipment in their systems. These robots maximize the use of vertical space, managing the storage of goods 32+ feet high. Hai Robotics' ACR solutions are independent of any storage medium, allowing the ASRS to be constructed of almost any industry standard racking structure with most kinds and sizes of bins, trays, cardboard cartons, and a variety of containers and materials.

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LOGISTICS

Radiant logistics announces further expansion of service by air network with new operations in boston, Massachusetts

prnewswire | June 02, 2023

Radiant Logistics, Inc. a technology-enabled global transportation and value-added logistics services company, today announced the continued expansion of its Service By Air ("SBA") Network with a new location in Boston, Massachusetts. The Boston operation will leverage Radiant's robust technology platform, purchasing power and global network to provide a comprehensive level of domestic and international freight forwarding and logistics services. With over 27years of experience, David Naman will lead SBA-Boston servicing a diversified base of domestic and international customers. "We are very excited to be joining the Radiant/SBA Network," said Naman. "As a people and service-oriented group, it is important that we align ourselves with an organization that has the people, process and technology to help us to meet and exceed our customers' expectations. For us, the Radiant Network matches our needs perfectly and we are delighted to be flying the Radiant/SBA flag here in Boston." "We are very proud to have David and the entire Boston team joining us," remarked Radiant's Founder and CEO, Bohn Crain. "Their expertise, particularly in supporting the Medical & Bio Tech, Military and Electronics & High-Tech verticals is a perfect fit for our network. We remain committed to our strategic operating partners and supporting logistics entrepreneurs like David, who are passionate about providing exceptional service to customers both here at home and around the world. Our strength and stability provide our strategic partners the ideal platform to protect and grow their business. We are excited to support David and his team with a dedicated network and complete toolbox of resources including the recently completed upgrade of our SAP TM operating platform. We welcome them and look forward to celebrating their continued success for years to come." About Service By Air Service By Air founded in 1972, is a member of the Radiant family of companies and provides worldwide transportation and logistics services through a network of approximately 100 company-owned and exclusive agent offices across North America. The company services a diversified account base that includes manufacturers, distributors and government agencies, using a network of independent carriers and international agents positioned strategically around the world. To learn more about how to join the Service By Air Network please contact Tim O'Brien, SVP and General Manager at (305) 495-8669. About Radiant Logistics Radiant Logistics, Inc.operates as a third-party logistics company, providing technology-enabled global transportation and value-added logistics services primarily to customers in the United States and Canada. Through its comprehensive service officering, Radiant provides domestic and international freight forwarding along with truck and rail brokerage services to a diversified account base including manufactures, distributors and retailers, which it supports from an extensive network of Radiant and agent-owned offices throughout North America and other key markets around the world. Radiant's value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management and technology services.

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SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

TCL Selects Blue Yonder and Accenture to Transform Supply Chain Planning Capabilities

businesswire | May 22, 2023

TCL Industries Holding will transform its business with Blue Yonder’s supply planning solution, with strategic support from Accenture (NYSE: ACN). Formerly part of the TCL Group, TCL was spun off as its own business in 2019 and provides a full range of intelligent technology products for global users. To support the company’s digital supply chain transformation strategy, TCL needed a more integrated and end-to-end solution. By implementing Blue Yonder’s solution, TCL will be able to: Focus on strategic decisions to help grow its business and expand production. Improve order promising rate to increase customer satisfaction, while supporting its customer sales goals. Reduce inventory by right-sizing production. Blue Yonder’s supply planning solution, combined with Accenture’s technology and industry experience, will help TCL gain a holistic view of its planning process and deploy advanced capabilities to create more accurate and higher quality plans. In addition, TCL will be able to balance its global objectives for demand satisfaction, collaborate on planning scenarios in situations of material shortage and disruptions, and use prescriptive recommendations to make accurate and faster decisions throughout the manufacturing and distribution network. This will allow its supply chain operations to minimize stock-outs, maximize inventory turns, optimize costs, and improve the customer experience. “Flexible and efficient supply planning capabilities are critical for being able to accurately deliver a wide selection of products to meet customer expectations,” said Harvey Kim, managing director, Communications, Media and Technology, Accenture Greater China. “With the combination of Accenture’s process, technology and industry experience, coupled with Blue Yonder technology, we can help TCL achieve their business goals and drive tangible value.” Antonio Boccalandro, president, APAC/LATAM, Blue Yonder, said, “TCL was previously an i2 Technologies customer, so we are excited to bring them back into the Blue Yonder family. They have seen significant growth year-over-year in their sales so they needed a solution that could help them plan for their supply needs even in the face of disruptions and challenges. By implementing Blue Yonder’s supply planning solution, they will have the ability to share materials across plants, increasing the efficiency of material utilization. In collaboration with Accenture, we are looking forward to helping TCL transform their supply planning capabilities and hope to work with them on future solutions they might need.” About Blue Yonder Blue Yonder is the world leader in digital supply chain transformations and omni-channel commerce fulfillment. Our end-to-end, cognitive business platform enables retailers, manufacturers and logistics providers to best fulfill customer demand from planning through delivery. With Blue Yonder, you'll unify your data, supply chain and retail commerce operations to unlock new business opportunities and drive automation, control and orchestration to enable more profitable, sustainable business decisions.

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SOFTWARE AND TECHNOLOGY, OPERATIONS

Hy-Tek Intralogistics and Hai Robotics Announce Partnership

prnewswire | June 02, 2023

Hy-Tek Intralogistics, a premier integrator of full-service automation technology for the supply chain, has partnered with Hai Robotics, a leading provider of intelligent automated warehouse solutions. With Hy-Tek's IntraOne enterprise logistics platform, the addition of Hai Robotics' automated storage and retrieval systems (ASRS) solutions will help reduce a customer's storage footprints, increase workflow efficiency, maximize order pick accuracy, and improve daily order fulfillment rate. "We are excited to start our partnership with Hai, an up-and-coming innovator for the G2P space," said Zac Boehm, Vice President of Robotic Solutions at Hy-Tek Intralogistics. "By formalizing our partnership, it allows Hy-Tek to add to its existing solutions with a technology that allows for an earlier entry point with customers looking to adopt G2P technologies, further enforcing our goal to meet our customers where they are in their automation journey." Changing economic conditions, an increasingly tight labor market and consumer spending habits require today's supply chain to be adaptable and provide a faster ROI for customers than in the past. Hai's technologies, including their brand new HaiFlex and HaiPick A3 solutions, will allow Hy-Tek to provide solutions to their customers faster than ever. "The Hai technology allows us to provide solutions that require fast start ups, future scalability, and competitive costs," says Dave Tavel, Senior Vice President of Sales at Hy-Tek Intralogistics. "There is no reason to delay your adoption of robotics as a strategy for fulfillment. Hai's technology will support your business today and into the future, and Hy-Tek Intralogistics' platform, IntraOne will manage and optimize our customer's operations." With Hai's solutions, customers can further improve operational efficiency and storage density, meeting the needs of warehouses, DCs, and factories in the apparel, retail, e-commerce, and 3PL industries. "Hy-Tek has been a strong organization in the market since before I began my career. I've always had a lot of respect for the quality of their solutions, equipment, and systems," said Brian Reinhart, Hai Robotics CRO. "Hy-Tek's commitment to growth and integration has positioned the company to be an industry leader for years to come and Hai Robotics, having done the same on the manufacturing side, is very excited about the partnership." About Hy-Tek Intralogistics Headquartered in Columbus, OH, Hy-Tek Intralogistics is an automation technology integrator serving clients in diverse end markets and applications, including e-commerce, third-party logistics, and parcel. Hy-Tek is the premier single-source provider of material handling solutions for a wide range of industries including manufacturing, distribution, retail, construction, food, electronics, and automotive. Since 1963, Hy-Tek and its best-in-class industry partners have been providing customers large and small with turnkey solutions. From customized one-of-a-kind handling and storage systems to pre-assembled buildings and off-the-shelf products—Hy-Tek's experienced team of engineering, sales, operations, and project management professionals' partner with customers to help enhance productivity, streamline processes, and boost profitability. With over 500 employees, Hy-Tek serves customers in the United States, Canada, and Mexico from offices in Georgia, Illinois, Kentucky, New Jersey, Ohio, Pennsylvania, and Tennessee. About Hai Robotics Hai Robotics is a leading global provider of intelligent automated storage and retrieval systems (ASRS). Their ASRS solutions provide modern storage density, reach up to 32+ feet high, reduce customer's storage footprints up to 75%, increasing workflow efficiency gains up to 4x, maximizing order pick accuracy to 99.9+%, and improve daily orders fulfilled rate over 170%. Hai Robotics' Autonomous Case-handling Robots (ACR) are the key equipment in their systems. These robots maximize the use of vertical space, managing the storage of goods 32+ feet high. Hai Robotics' ACR solutions are independent of any storage medium, allowing the ASRS to be constructed of almost any industry standard racking structure with most kinds and sizes of bins, trays, cardboard cartons, and a variety of containers and materials.

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LOGISTICS

Radiant logistics announces further expansion of service by air network with new operations in boston, Massachusetts

prnewswire | June 02, 2023

Radiant Logistics, Inc. a technology-enabled global transportation and value-added logistics services company, today announced the continued expansion of its Service By Air ("SBA") Network with a new location in Boston, Massachusetts. The Boston operation will leverage Radiant's robust technology platform, purchasing power and global network to provide a comprehensive level of domestic and international freight forwarding and logistics services. With over 27years of experience, David Naman will lead SBA-Boston servicing a diversified base of domestic and international customers. "We are very excited to be joining the Radiant/SBA Network," said Naman. "As a people and service-oriented group, it is important that we align ourselves with an organization that has the people, process and technology to help us to meet and exceed our customers' expectations. For us, the Radiant Network matches our needs perfectly and we are delighted to be flying the Radiant/SBA flag here in Boston." "We are very proud to have David and the entire Boston team joining us," remarked Radiant's Founder and CEO, Bohn Crain. "Their expertise, particularly in supporting the Medical & Bio Tech, Military and Electronics & High-Tech verticals is a perfect fit for our network. We remain committed to our strategic operating partners and supporting logistics entrepreneurs like David, who are passionate about providing exceptional service to customers both here at home and around the world. Our strength and stability provide our strategic partners the ideal platform to protect and grow their business. We are excited to support David and his team with a dedicated network and complete toolbox of resources including the recently completed upgrade of our SAP TM operating platform. We welcome them and look forward to celebrating their continued success for years to come." About Service By Air Service By Air founded in 1972, is a member of the Radiant family of companies and provides worldwide transportation and logistics services through a network of approximately 100 company-owned and exclusive agent offices across North America. The company services a diversified account base that includes manufacturers, distributors and government agencies, using a network of independent carriers and international agents positioned strategically around the world. To learn more about how to join the Service By Air Network please contact Tim O'Brien, SVP and General Manager at (305) 495-8669. About Radiant Logistics Radiant Logistics, Inc.operates as a third-party logistics company, providing technology-enabled global transportation and value-added logistics services primarily to customers in the United States and Canada. Through its comprehensive service officering, Radiant provides domestic and international freight forwarding along with truck and rail brokerage services to a diversified account base including manufactures, distributors and retailers, which it supports from an extensive network of Radiant and agent-owned offices throughout North America and other key markets around the world. Radiant's value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management and technology services.

Read More

SOFTWARE AND TECHNOLOGY, SUPPLY CHAIN

TCL Selects Blue Yonder and Accenture to Transform Supply Chain Planning Capabilities

businesswire | May 22, 2023

TCL Industries Holding will transform its business with Blue Yonder’s supply planning solution, with strategic support from Accenture (NYSE: ACN). Formerly part of the TCL Group, TCL was spun off as its own business in 2019 and provides a full range of intelligent technology products for global users. To support the company’s digital supply chain transformation strategy, TCL needed a more integrated and end-to-end solution. By implementing Blue Yonder’s solution, TCL will be able to: Focus on strategic decisions to help grow its business and expand production. Improve order promising rate to increase customer satisfaction, while supporting its customer sales goals. Reduce inventory by right-sizing production. Blue Yonder’s supply planning solution, combined with Accenture’s technology and industry experience, will help TCL gain a holistic view of its planning process and deploy advanced capabilities to create more accurate and higher quality plans. In addition, TCL will be able to balance its global objectives for demand satisfaction, collaborate on planning scenarios in situations of material shortage and disruptions, and use prescriptive recommendations to make accurate and faster decisions throughout the manufacturing and distribution network. This will allow its supply chain operations to minimize stock-outs, maximize inventory turns, optimize costs, and improve the customer experience. “Flexible and efficient supply planning capabilities are critical for being able to accurately deliver a wide selection of products to meet customer expectations,” said Harvey Kim, managing director, Communications, Media and Technology, Accenture Greater China. “With the combination of Accenture’s process, technology and industry experience, coupled with Blue Yonder technology, we can help TCL achieve their business goals and drive tangible value.” Antonio Boccalandro, president, APAC/LATAM, Blue Yonder, said, “TCL was previously an i2 Technologies customer, so we are excited to bring them back into the Blue Yonder family. They have seen significant growth year-over-year in their sales so they needed a solution that could help them plan for their supply needs even in the face of disruptions and challenges. By implementing Blue Yonder’s supply planning solution, they will have the ability to share materials across plants, increasing the efficiency of material utilization. In collaboration with Accenture, we are looking forward to helping TCL transform their supply planning capabilities and hope to work with them on future solutions they might need.” About Blue Yonder Blue Yonder is the world leader in digital supply chain transformations and omni-channel commerce fulfillment. Our end-to-end, cognitive business platform enables retailers, manufacturers and logistics providers to best fulfill customer demand from planning through delivery. With Blue Yonder, you'll unify your data, supply chain and retail commerce operations to unlock new business opportunities and drive automation, control and orchestration to enable more profitable, sustainable business decisions.

Read More

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