Transformations in Supply Chain are adventures with real people; full of opportunities and challenges.
Every Thursday, join Marcia Williams in a podcast of real stories; real stories with real people transforming supply chains.
Be sure to tune in to our Coronavirus and Supply Chain Video Series with amazing guests.
Marcia – host of the show, experienced supply chain consultant, speaker, and author – interviews guests who have led outstanding transformations.
If you are or want to become a change leader with high impact, this podcast is for you.
And you will know it all – strengths, vulnerabilities, successes and failures; from how to perform data analysis through wearing your favorite tie or red shoes to boost your confidence.
Transformations are adventures with real people. Learn from their stories and claim your head start!
This episode covers the 2024 Predictions for Supply Chain.
✅ChatGPT
As Supply Chain and Procurement practitioners always looking for ways to make our work more effective and efficient, my prediction is that the use of ChatGPT will trend upward.
✅Dashboards for Communication with Stakeholders
Data visualizations like those from PowerBI will be on the rise because they have different levels of aggregations so your stakeholders can see only what they are looking for.
✅Sustainability
Sustainability has been trending in the most recent years. I think 2024 will not be the exception.
✅Procurement as Revenue Generator
I think this year, Procurement will show and educate more about their financial impact on the top and bottom lines.
✅Logistics Planning and Execution
Logistics will continue to make headlines. Companies will increase their focus on logistics planning and execution.
✅Innovation with New Product Introductions
Companies will continue investing in innovation. I think the trend will be upward about product launches.
✅Inventory Optimization
Most companies will be focusing on inventory optimization in 2024 to achieve greater profitability and to free up cash.
✅Operations and Finance Integration – Advanced S&OP/ IBP
I think that in 2024 there will be an increased focused on the intersection between finance and supply chain to improve profitability and working capital.
✅Supply Chain in the C-Suite
This year, we are keeping a seat at the table with a supply chain that integrates with finance and with participants that know the language of the business—finance and accounting—the language that the C-suite speaks.
✅Generative AI
I think that the adoption of these technologies will move at a slow pace. Excel will continue to be the top planning tool in 2024, used together with the company’s ERP and advanced planning systems.
Hope you like it!
What are your thoughts? What predictions would you add?
Let's make it a GREAT year!
Bonus Tip: For Free and Actionable Resources, please visit https://usmsupplychain.com/ (https://usmsupplychain.com/)
16 Jan 2024
Top Inventory Management Metrics that Every Supply Chain Professional Must Know
Ready to know the top 10 inventory management metrics that everyone in supply chain and procurement must know. In this video you will know the top metrics, the meaning, and calculation. Everything is here.
#1 Inventory Days of Supply
#2 Inventory Turnover
#3 Cash to Cash Cycle
#4 Return on Working Capital
#5 Inventory Carrying Cost
#6 Cost of Goods Sold (COGS)
#7 Obsolescence for Raw Material, WIP, and Finished Goods Inventory
#8 Perfect Customer Order Fulfillment
#9 Inventory Accuracy
#10 Customer Order Fulfillment Cycle Time
Bonus Tip: For Free and Actionable Resources, please visit https://usmsupplychain.com/ (https://usmsupplychain.com/)
11 Jan 2024
5 Secrets for Effective Inventory Management
Inventory has a tremendous impact on your profit and loss statement and balance sheet.
If it's not properly balanced against demand, it's hard for companies to serve customers, which can lead to problems.
For example, Nike's difficulty with responding to supply chain issues and inflation created an inventory surplus that's negatively impacted its profit.
On the other side, Revlon's inability to meet demand because of low inventory led to the company to file for bankruptcy after 90 years in business.
In this episode, we will unveil 5 secrets for effective inventory management:
Secret #1 – Increase Your Visibility
Secret #2 – Focus on Better Responsiveness
Secret #3 – Have a New Product Launch Management Process
Secret #4 – Improve Your Demand Forecasting
Secret #5 – Consider the Total Cost of Ownership
Bonus Tip: For Free and Actionable Resources, please visit https://usmsupplychain.com/ (https://usmsupplychain.com/)
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