Category: Inventory Management

Inventory Management and Turnover Performance

Our 2021 Top 10 List!

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In the middle of our 5th year here at Supply Chain Game Changer we are proud to publish our 2021 Top 10 List. Here we are showcasing our 10 most popular articles for the first half of the year.

Since we’ve started we have amassed an extensive library of over 750 articles. There is something for everyone no matter what your interests, challenges and needs may be from one day to the next. And that fulfills our mission of sharing experiences and expertise for the benefit of all.

Still there is always more to right about to help our readers.

So let’s take some time to reflect, and look back on our 2021 top 10 list … so far!

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The Toilet Paper Supply Chain!

Coronavirus Exposes Global Supply Chain Fragility!
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Our recent trips to Costco and Walmart, in mid March 2020, had one thing in particular in common. Both stores were sold out of toilet paper, with no knowledge as to when more was coming in to the store.

A few weeks ago, in mid February 2020, when the panic was starting to set in with respect to the Coronavirus we saw some people buying a lot of toilet paper. At the time we bought more packages than we should have, just in case, not realizing there was going to be a full blown run on toilet paper.

This seems to be the story everywhere, even on Amazon. Every store is sold out of toilet paper. Why is it sold out? It’s such a common product that’s merely made out of paper. Does it all come from China, where their factories are shut down? Is that the problem?

In light of the current situation we thought it was time to learn more about the Toilet Paper Supply Chain.

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Harnessing the Power of ChatGPT and AI in Supply Chain!

What is ChatGPT?

In the era of digital transformation, organizations are constantly seeking innovative solutions to enhance their supply chain management (SCM) processes and create the Digital Supply Chain of the future.

One such revolutionary technology is ChatGPT (Generative Pre-trained Transformer), powered by Artificial Intelligence (AI). ChatGPT, developed by OpenAI, is a sophisticated language model that can understand and generate human-like text.

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Supply Chain Scams and Fraud!

3 Most Common Freight Forwarding Scams (and How to Avoid Them)! (Infographic)
SC Viral The Pandemic Diaries
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Very early on in my career an associate of mine was fired because he was found to be taking kickbacks from packaging suppliers to whom he had been preferentially and inappropriately been giving business.

Most recently I have received lots of emails and messages from unknown people offering to sell me masks and other personal protective equipment (PPE) for really low prices. A cursory investigation into some of these finds that the items are substandard at best, and the commensurate price gouging during the pandemic reeks of fraudulent behaviour.

One of our most popular articles is Freight Forwarding scams. Every couple of weeks I will get an email from someone, from anywhere in the world, who has been the victim of a freight forwarding scam, and is looking for help.

All of this, and more, has caused to me consider that this is a very important, very real, and very prevalent issue. So let’s discuss Supply Chain scams and fraud.

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Characteristics of a Supply Chain Superhero Costume!

The Top 8 Supply Chain Superpowers!

In a world that relies heavily on Supply Chain, as proven by all of the disruptions that occurred during the global pandemic, Supply Chain professionals are the unsung heroes behind the scenes.

They possess the ability to orchestrate the movement of goods and services, ensure the seamless flow of resources across vast networks, keep customers happy, manage innumerable suppliers and materials, manage cash flow, and basically keep any company afloat.

Just like superheroes, these professionals certainly have Supply Chain super powers, and require a costume that embodies their unique skills and responsibilities.

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What is Supply Chain Management (SCM)? (Video)

Thesis Ideas for Supply Chain Students!

What is Supply Chain Management?

The term was coined over 35 years ago but still to this day there are a large number of different definitions of SCM.

To someone who is starting out their career, or who is new to the field of Supply Chain, it is understandable that there may be confusion as to the definition of SCM.

But the reality is that there are many expert individuals and organizations who define Supply Chain differently. Are they really that different or are there just subtle nuances in what some people consider SCM that others do not?

Watch our video to learn more about how people define Supply Chain Management!

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The Target Canada Story and the Brand Impact of the Supply Chain!

Brand Protection – The Definitive Role of the Supply Chain!

The responsibility for protecting and promoting your product or company brand is often thought to be generally held by the Marketing Department.  But in reality the Supply Chain organization has an enormous role to play as the Supply Chain can positively or negatively impact your brand in many significant and different ways.  This was the case with Target.  

One of the most pronounced examples of the role of the Supply Chain in serving and protecting your brand is found in the story of Target Canada.  Faced with unprecedented plans for expansion in Canada Target had to close its entire operation only two years after beginning operations.

The performance of the Supply Chain was a central element leading to this massive failure and damage to the Target brand.

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7 Strategies to Optimize Your Medical Equipment Supply Chain!

How to Increase Transparency in the Medical Device Supply Chain!

In any business, supply plays an important role. It ensures you dispose of your manufactured goods to your ideal customers. It’s the only way to get output from your investments in the production process. Based on this, an efficient supply chain is a must-have, despite the industry. Suppose you’re in the medical equipment business.

How can you optimize your medical equipment supply chain?

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What Gets Measured Is What Gets Done!

On Time Delivery – Get that right First!

There are a myriad of variables and factors which affect your ability to achieve your objectives.   Deciphering this complexity to determine what should be measured is critical for driving improvements and change.

As with many aspects of your business there can literally be dozens and dozens of different metrics.  The same is true in sports.  So if you are trying to drive breakthrough results in your company or win on the field how do you determine what is important to measure?

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Manage Your E-Commerce Store With No Inventory!

Drop Shipping Teddy Bears!

A successful new business model has come to the forefront, and it doesn’t require you to have an inventory. E-commerce stores are now trendy, and their online sales are projected to make up to 18.1% of global retail sales. It is easy to learn how to manage your e-commerce store without the extra work required to stock and ship goods.

Read on to learn more about the methods you can apply to manage your e-commerce store and business venture. 

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How to Streamline Your Work in Process Inventory Management!

Featuring Our 10 Best Inventory Management Articles!

Work in process (WIP) inventory is a crucial part of inventory management for businesses, yet many face complex challenges that impede smooth operations, create bottlenecks, and increase costs. However, with the right strategies and tools, businesses can overcome these obstacles and streamline their WIP inventory management processes. 

In this post, we explore how inventory management software can help businesses optimize their WIP inventory management by providing real-time insights, enhancing accuracy, and improving efficiency.

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Using Lean Management for Inventory!

The Agile Supply Chain! Why Agility is Trumping Lean!
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What is Lean Management for inventory?

What techniques are applied to make it successful?

More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers.

Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits.

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Tesla Supply Chain Issues and Lessons!

Featuring Our 10 Best Inventory Management Articles!
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Tesla’s relentless research and development produce innovative solutions powered by cutting-edge technology. Tesla is a perfect role model for using advanced automotive technologies that further enhance modern vehicles’ efficiency and safety.

Automobile makers, including Tesla, utilize automation, machine learning, artificial intelligence, and other technologies when designing vehicles, including innovative accessory feature comparisons such as flow formed wheels vs forged. 

While Tesla’s milestones in automotive manufacturing are impressive, the company also faces a fair share of issues, including supply chain management.

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How to Make Your Business Punchout Ready!

Manage Procurement Spend Like It’s Your Own Business!

Punchout catalogs can change many aspects of your business. If you’re selling B2B, then you should consider implementing a punchout catalog to establish more efficiency throughout your supply chain.

 Using modern tools and a bit of planning, you can make your business punchout ready, so your clients can begin ordering right away. 

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Post Pandemic Inventory Priorities: High Turnover or Extra Inventory?

Is Just In Time Past Its Time?
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Most of the pre-pandemic Inventory Management strategies were centred around improving inventory turnover, keeping inventory levels as low as possible, and reducing the amount of cash tied up in inventory. The backbone of all long-standing philosophies such as Just-In-Time, Lean manufacturing, and Kanbans were all designed around minimizing the amount of inventory on hand in any Supply Chain.

But it took a global pandemic to turn all of those paradigms and approaches on their heads. Systems and processes designed to minimize inventory levels proved to be inadequate to withstand the unprecedented disruptions in both supply and demand that the pandemic would instigate. Look no further than the fact that we ran out of toilet paper, of all things.

Before things start to getting back to “normal”, it’s important to ponder whether these low inventory business models should be continued, adjusted, or even abandoned as we look to the future of inventory management. What should our post pandemic inventory priorities be?

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