International procurement and supply chain management consultancy INVERTO, part of Boston Consulting Group, says that there are four megatrends that will dominate the procurement landscape in 2024
Supply Chain Management, Optimisation, Software, Execution
Supply chain management software (SCM) is a term that embraces a wide range of software functionality. The joint purpose of these different modules and tools is to better execute supply chain transactions, manage supplier relationships and control all main business processes related to supply and delivery. The discipline of SCM covers everything from the storage and movement of parts and raw materials, to work in progress (WIP) and the management of goods and materials from source to the point of delivery to the customer. The APICS Dictionary describes SCM as the \"design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally.
Dakota smashes 2023 revenue targets as growth trajectory continues
Jan 17, 2024
Following a record year in 2022, real-time data capture, printing, mobility and voice-directed solutions specialist, Dakota Integrated Solutions, has again exceeded projected revenue and growth targets during 2023.
Cradlepoint introduces big capabilities in a small form factor with new 5G router for retail pop-up sites and small offices
Jan 17, 2024
Cradlepoint has released the E100 5G Enterprise Router. Specifically designed to support retail and small office applications – including POS, video surveillance, inventory applications, and IOT – the E100 5G combines the performance of 5G with modern security through Cradlepoint NetCloud Exchange.
Manhattan Active Point of Sale unveils the next generation of store associate experience
Jan 17, 2024
Manhattan Associates Inc. has announced significant enhancements to its Manhattan Active Point of Sale (POS) application designed to meet the dynamic needs of modern store associates.
The refreshed store app includes embedded clienteling capabilities to convert sales and enhance service, ultra-fast checkout, and the ability to work offline without requiring an in-store server.
Blue Yonder launches interoperable solutions to unlock performance and build supply chain resilience
Jan 16, 2024
Blue Yonder, the supply chain solutions provider, has released its largest product update in the history of the company, launching what it describes as the first set of interoperable solutions across the entire supply chain – from planning to warehouse, transportation, and commerce – delivered on the company’s Luminate Cognitive Platform.
Sustainability needs to top retailers’ shopping lists
Jan 15, 2024
By Nathan Lomax, co-founder of Quickfire Digital.
Retailers have not had it easy of late. Soaring energy and supply chain costs and customers facing pressure through the cost of living crisis have resulted in a loss of 15,000 jobs at the start of 2023.
Supermarket giant Iceland puts colleague welfare first by partnering with VoCoVo
Jan 10, 2024
VoCoVo, the retail communications specialist, has entered into a partnership with UK supermarket chain Iceland which will see every store within the retailer’s estate provided with access to the latest cutting edge communication technology.
Recent flooding is the latest demonstration of extreme weather’s impact on the UK supply chain
Jan 09, 2024
The recent bout of severe weather, including flooding across various regions of the UK, has been yet another demonstration of the impact that extreme weather has on the supply chain.
Retail Think Tank 2024 predictions: Food, Health & Beauty and Purpose-driven retail set to be sector winners in the year ahead
Jan 03, 2024
Food and Health & Beauty are expected to be two of the best performing retail categories for 2024, along with ‘purpose’ driven retail offerings, which include circular retail and sustainable shopping formats, according to predictions from the KPMG/RetailNext Retail Think Tank (RTT), an independent board of retail experts.
What does a blockade of the Red Sea mean for supply chains?
Jan 02, 2024
By Patrick Lepperhoff, Principal at INVERTO and supply chain management expert.
We experienced what a blockade of the Red Sea means in spring 2021 when the Ever Given got stuck in the Suez Canal. Within a few days, a traffic jam of several hundred ships formed.
Supply Chain Management Software (SCM)
Supply chain management software (SCMS) is a business term which refers to a whole range of software tools or modules used in executing supply chain transactions, managing supplier relationships and controlling associated business processes. Supply chain management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.
Supply Chain Management (SCM) includes all the activities that must take place to get the right product into the right consumer’s hands in the right quantity and at the right time. The supply chain manager supervises all the related logistical processes for the organisation. Effective supply chain management involves the coordination of all of the various elements of the chain as quickly as possible by harmonizing the contributions at each stage, including use of vendor partners and third-party service providers. This must be done as cost-effectively as possible and the priority is to be customer-driven.
Being more attentive to the stages throughout the length of the chain helps companies to stay competitive, reduces overall costs, increases efficiency and ultimately, keeps the customers happy. Supply chains are becoming increasingly integrated and complex, and as such now require dedicated and well-trained managers
Supply chain management (SCM) is sometimes broken down into the stages of planning, execution and shipping. Supply chain planning (SCP) and supply chain execution are the two main categories of SCM software. SCP software applications apply algorithms to predict future requirements and balance supply and demand.
Another definition is provided by the APICS Dictionary when it defines SCM as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally."
Supply chain execution (SCE) is the flow of tasks involved in the supply chain, such as order fulfilment, procurement, warehousing and transporting. SCE software applications track the physical status of goods, the management of materials, and financial information involving all parties.
Supply chain planning software helps organizations manage and replenish their inventory through sales and demand forecasting. As part of a supply chain management system, supply chain planning solutions like sales & operations planning (S&OP) serve an important function in the on-going effort to reduce waste and increase profitability.
Supply chain optimization software handles capacity planning as well as sequencing and scheduling. Beyond simply providing demand estimation data, it allows organizations to act immediately on any pertinent information gathered from the data by altering delivery schedules, shifting stored inventory loads, and adjusting revenue and expense projections.
Supply Chain standards and models:
There are a variety of supply chain models. The Supply-Chain Operations Reference model (SCOR) , developed by the management consulting firm PRTM, now part of PricewaterhouseCoopers LLP (PwC) has been endorsed by the Supply-Chain Council (SCC) and has become the industry standard diagnostic tool for supply chain management. SCOR measures total supply chain performance in terms of production flexibility, fulfillment performance, order delivery, reverse logistics efficiency/returns processing, warranty and general service levels.
