Walmart Requires Fresh Produce Suppliers To Track Supply Chain Via Blockchain By September 2019

| September 25, 2018

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The company released a statement September 24 in which it detailed its new requirement for all its lettuce suppliers to implement blockchain technology in their supply chains. Walmart has given them just 12 months to integrate their supply data with the IBM Food Trust network.

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3 Ways to Benchmark to Boost Supply Chain Performance

Article | April 20, 2021

You might be wondering what the benefits are of benchmarking. Well, imagine you are training for a 100 metre sprint in your district. What would be the key number, or metric that you would need to know? It would, of course, be what the winning time was when this race was last run in your district. Without that information, you don’t know what you’re trying to target. It would be impossible to know if you’ll have any chance at all of winning the race. It’s exactly the same in business. If, for example, you are concerned about the pick rates in your warehouse, or your transport costs, or your inventory accuracy, benchmarking can help you because it can show you exactly where your performance is compared to others in your industry. A few years ago, I was working with an automotive parts business. They had a little issue with their picking productivity in the warehouse. They wondered how good it was, whether they could improve it. They actually thought it was okay. We looked at the figures and compared them with other businesses. This helped us realise that their picking productivity should be three times better than it was. And believe it or not, over a few months they did begin to improve their productivity. Why? Because benchmarking opened their eyes to the fact that they were at a level quite far below others in the industry. That’s the beauty of benchmarking. Until you know what others are doing, you can’t be sure how good your performance is. If you’ve never tried benchmarking, there are three ways you could do it. 1. Informal Benchmarking This exercise would involve you measuring particular functions or aspects of your business and comparing that against other parts of your business. Let’s say you have a warehouse operating in one city and another operating in another city. You might start to measure the same metrics and see which one is performing better. You might know other people in the industry who are also operating warehouses so you might agree to share some data with them. This is probably the easiest way to start off, but it has some downsides: You’re only measuring against a very small sample size. If all of you in the pool are not that good, how would you know what good is? You have to make sure that the businesses are similar and you are measuring things in exactly the same way. It’s very important in benchmarking to have a standard way of applying the metric. 2. Formal Benchmarking This can work for much larger businesses. Perhaps you have operations in many different countries. You could agree a formal structure for how you are going to measure performance. You could do monthly or quarterly benchmarks with all the parts of your international organisation. You could learn from each other and share best practice. This method is okay but you’re not getting access to a very large pool of results to measure yourself against. You will find that companies are very reluctant to give out benchmarking data. You might also be operating in an environment where the performance is quite low right across the business. 3. Hire a Professional Benchmarking Firm This is the ultimate way to do it, although there are not a lot of professional benchmarking firms such as ours around. If you do manage to find one, you will quickly realise that there are significant benefits to be had by bringing in the professionals: The metrics are put together in exactly the same way: When we do a benchmarking exercise for our consulting clients, we go through a very robust data-gathering process and then make sure all the costs, for example, are in the same buckets as everyone else’s in the database. You gain access to a big pool of results: Professionals have measured hundreds, if not thousands, of companies. This enables you to say, ‘Our company is this size, it operates in this industry, these are the characteristics of our supply chain, who else in that pool of results is like us? We want to be measured against them.” It’s no good measuring the performance of a grocery retailer, for example, against an industrial product supplier. They have different supply chains. You need to be measuring like with like.

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Design and planning process for future supply chains

Article | April 6, 2020

Black Rock, the world’s largest fund manager has stated that the crisis will fundamentally reshape business practices, society and consumer habits – rethinking the way people work, shop, travel and gather. There will be a ‘new normal’ way of functioning and businesses will need to adapt.And the timeline for recovery could be long. The investment bank, Morgan Stanley warns in a recent newsletter of no quick return to ‘business as usual’ in the US: “…we see 2Q20 GDP contracting as much as 45%, followed by a soft 3Q and a rebound in activity in 4Q20 and into 2021…even with the expected rebound, the level of output (in the US) at the end of 2021 in our bear case remains 11.5% below its pre-recession peak”.The political and financial decisions made by governments during and following the crisis could influence economies for at least 10 years.

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Ultimate guide to warehouse logistics: Enhance organization, movement, and management

Article | October 19, 2020

Warehouse logistics is the heart of any supply chain operation, assimilating and dispatching goods to ensure availability and timely delivery. With more consumers turning to e-commerce, it’s important for businesses of all sizes to bolster the supply chain to handle the e-commerce business model. According to research conducted by BigCommerce, the top three factors that influence consumers’ online purchasing decisions are convenience, cost and free shipping. In fact, the National Retail Federation (NRF) found that 75% of consumers expect delivery to be free even for orders under $50.

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What is supply chain? A definitive guide.

Article | March 13, 2020

Getting the supply chain right is make or break to companies - especially in the modern world, where consumers expect to receive goods quicker than ever before. But what actually is the supply chain? A supply chain is defined as the entire process of making and selling commercial goods, including every stage from the supply of materials and the manufacture of the goods through to their distribution and sale. Successfully managing supply chains is essential to any company hoping to compete.

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