What’s the Risk of Brexit in the Global Distribution Landscape? 

Brexit was and remains a major risk to the global supply chain, but now, Brexit’s pre-existing disruptions will be put to an even bigger challenge in the wake of the coronavirus. As reported by Natasha Bernal of Wired: 

“The supply chain is resilient and capable of coping with demand,” says Andrew Potter, a professor at the University of Cardiff who specializes in logistics and transport. “Where the problem will come is if other people are infected and there will be fewer people going in [to work]. If you start to have a situation where you have to quarantine distribution centers for a longer period of time or there is a drop-off of the workforce, that’s where you’re going to see much more issues in the supplies coming through.” 

Since Brexit’s impact is still in infancy, the UK supply chains lacked much of the preparedness activities needed to handle the massive swell in consumer demand amid panic buying, but there might be an opportunity to learn something from this event. Britain could be faced with added tariffs and surcharges to meet basic demand regardless of whether those products have already become part of the list of in-demand items in response to the coronavirus. 

Potential Opportunities to Drive Higher Profitability Despite Brexit 

Supply chain leaders can secure profitability and supply chain stability despite Brexit, but the coronavirus adds a new level of uncertainty. As customers have grown to push for more products and put an immense burden on the supply chain, the whole system sits on the cusp of collapse. Months of Brexit preparation among UK-consorting businesses helped to build up supplies and warehoused goods in advance of the perceived disruptions. With the coronavirus rapidly spreading, those supplies will undoubtedly become central to the global response. It might seem odd, but the measures undertaken to shore up supply chains around Brexit may have a slight protective effect against the coronavirus and help improve the global disruption landscape. 

How to Safeguard Your Supply Chain From Brexit and Other Risks 

The writing is on the wall for the supply chains of the UK. Brexit is here, and the coronavirus is continuing to plague the planet. Instead of throwing in the towel, supply chain leaders need to take drastic steps, including: 

• Reassure the workforce, if not increasing it temporarily, to fulfill more orders.  
• Improve operational efficiency through AI and machine learning.  
• Avoid unnecessary software changes during the tumultuous period.  
• Start evaluation of processes that prove inefficient to handle the changes caused by Brexit and the coronavirus. 
• Start thinking about how to better improve home delivery. 

The last step is the most important, as noted by Bernal: 

“It [supply] will eventually run out. In most cases, it won’t run out this week or next. You’re probably looking into a situation in April. We could end up with this kind of perfect storm where just as inventory starts to run low, people stop venturing out to buy things. And therefore, your whole world becomes a home delivery model.” 

Brexit and the Global Distribution Landscape Will Affect Your Supply Chain Ability to Succeed 

There was a time when Brexit seemed like the gravest threat to the global supply chain. However, the coronavirus has fueled a resurgence in the global supply chain and fears of the proverbial supply chain apocalypse. With that in mind, supply chain leaders that take extraordinary steps to secure more capacity, avoid out-of-stocks, and embrace digital transformation during the uncertainty have an opportunity to come out as winners down the line. Learn more about the ways your organization can reduce the impact of Brexit, the coronavirus, and any other supply chain disruption event by contacting Veridian online today. 

The post Brexit and the Global Distribution Landscape appeared first on Veridian.

“Evidence of a poorly conceived and managed warehouse management system (WMS) implementation sometimes is so apparent that passersby on the street notice it. Forty trucks lined up down the road trying to get into a warehouse is a sign of a bad WMS installation. When things aren’t working right, or the system’s down, the trucks must wait. And that costs money.” 

Supply chain leaders can avoid that grim scenario by understanding the WMS software procurement lifecycle, including top challenges and the value of a comprehensive review of supply chain data from selection through implementation and a few best practices to evaluate, select, implement, modify, and realize better ROI. 

The Challenges of the WMS Software Procurement Lifecycle 

Supply chain leaders will face challenges when beginning the WMS software procurement lifecycle. Employees within the company may be reluctant to change. Shareholders may wish to avoid unnecessary investments. A general sense of maintaining the status quo could prevail. However, the ongoing complexity of operations and a demand for more from today’s supply chains will render these opponents meaningless. At the same time, hasty selection and implementation of a WMS may have a disastrous effect. “No error creates more problems for a WMS implementation than moving too fast,” as the aforementioned Inbound Logistics article states.  

Why Evaluation Through Launch Matter Most 

A comprehensive strategy for managing all processes of the WMS software procurement lifecycle is essential. Companies must consider how any change of operations will affect downstream supply chain activities and vice versa. The selection of a WMS becomes clearer as supply chain leaders determine how new software will add value. Evaluation goes back to leveraging supply chain data to its greatest potential. Data can provide insight and help with crucial decision making but data alone is not the whole picture. Leaders must also consider cost impacts too. How do supply chain leaders approach a new procurement process for software without letting costs run rogue and well out of control? To answer that question, we’ll discuss a few best practices.  

Best Practices to Evaluate, Select, Implement, Modify, and Realize ROI 

Vast online resources have been devoted to the best practices for evaluation, selection, modification, and realizing the ROI of WMS software. While hundreds of individual improvements exist, ensure your organization follows these simple best practices: 

1. Centralize communications.  
2. Set clear expectations for the software.  
3. Don’t go looking to create world-class software from a subpar system. 
4. Avoid unnecessary modifications.  
5. Think in terms of long-term value and benefit, including risk management as technology improves.  
6. Consider working with an expert, such as Veridian, to optimize the whole process.  

Boost Your Company’s WMS Software Procurement ROI by Working With Veridian 

Your next procurement is on the horizon. It is only a matter of time before your current systems fail to deliver on their promises, and it will be time to upgrade. Instead of getting lost and enduring the whole upgrade and WMS software procurement lifecycle again within a few short years, follow the best practices to picking, implementing, and leveraging the right software first. Also, let Veridian help you improve your next software implementation process from procurement through launch. Visit Veridian online to get started.

The post WMS Software Procurement Lifecycle: How to Evaluate, Select, Implement, Modify, & Realize ROI appeared first on Veridian.

Limits of Legacy Inventory Management Systems 

Legacy inventory management systems were designed with simple supply chains in mind when products moved from a manufacturer to a local retailer or even a regional distributor. The omnichannel supply chain movement now mandates a stronger system, capable of bridging the divide between online, brick-and-mortar, and traditional orders conducted via phone or fax. Customers expect a seamless, intuitive, and accurate experience regardless of channel, and if the order is not on the shelves, customers will go to your competitor. As also explained by Big Commerce: 

“When businesses don’t have a handle on the activity of their inventory, or worse, track it with outdated spreadsheets and data entry, the rest of the pieces, like order fulfillment, don’t fall into place.” 

Characteristics of the Best Inventory Management System for Your Enterprise 

With up to 43% of retailers viewing inventory management as the leading day-to-day challenge, as according to the Big Commerce study linked to above, the best inventory management system must have a strong lineup of characteristics, including: 

• 2D barcode capabilities, also known as QR codes, that can track much more information than traditional line barcodes. 

• Passive inventory management, automatically capturing inventory data without human intervention. 
• Automated reordering processes, considering the total cycle time for each SKU and expected demand.  
• Accurate replenishment practices, as well as enforcement of compliance with the inbound freight routing guide.  
• Accessibility of the same system regardless of location, such as cloud-based platforms. 
• Compatibility across all pre-existing systems, including ERP, OMS, WMS, YMS, WES, WCS, and TMS. 

How to Select the Best System 

To select the best inventory management system (which track similarly to how to select a WMS), follow these steps: 

1. Know your stocking needs, including omnichannel capabilities and using brick-and-mortar stores as order fulfillment centers.
2. Recognize the value of and building the business case for investment.  
3. Determine the cost of maintaining the status quo, if possible, with the current system versus investment of a new system. 
4. Create a multi-disciplinary team to lead the selection and implementation of the system. 
5. Set up and deploy the system, leveraging advanced, easy-to-use processes and applications, such as Veridian Automate, to reduce time in code migration, integration, and testing.  

Let Veridian Help Choose the Best System for Your Needs 

The best inventory management system holds a distinction in giving your enterprise the ability to fulfill more orders, reduce delays in order fulfillment, gain inventory visibility, and more. However, the proliferation of supply chain system vendors and available platforms means you’ll have your work cut out for you when considering implementing a new system. While modern WMS functions can include inventory management, companies looking for the best inventory management system should work with an expert, such as Veridian. Learn more about the value of third-party experts by requesting a custom consultation with Veridian online now.

The post What Are the Characteristics of the Best Inventory Management System? appeared first on Veridian.

Challenges in Tracking Supply Chain Data in 2020 

Supply chain data provides a comprehensive view of specific and enterprise-wide company functions. However, tracking the wrong data or failure to recognize the problems with poor quality data may cause supply chain leaders to make terrible mistakes and increase the chances of worsening productivity. Taking a proactive role in data management can make a difference, and the right data is not necessarily the same as that of your top competitors. In other words, individual companies may have different data priorities, but they should all follow a similar structure—involving the collection, cleansing, analysis, and reporting of insights.  

Data Improves Operational Excellence When Used Correctly 

The value of data increases in the quest for supply chain efficiency. With the implementation of API- and web-connected supply chain systems, businesses can manage their inventory and follow up on stock movement more easily and automatically. Various connections beyond API, like the use of Internet of Things (IoT) connected sensors, allow professionals to track products and their movement from the factory up to the retail store. The impact of these connection technologies to better track movements in the supply chain includes reduced costs and improved service delivery. The data is collected in a central system and can then be analyzed to derive valuable insights. The application of data in supply chain management aids supply chain leaders in improving operations, products, services, hiring processes, marketing strategies, and risk management. 
A video downloader can be used to save instructional videos on supply chain management and learn on the go.

Thus, companies that track supply chain insights and apply data-driven decision making can reduce costs, isolate problems, provide a roadmap for correction, and validate gains in performance after making applicable changes.  

Supply Chain Data to Track Through 2020 

A brief look at the top-performing supply chain data points to track in 2020 include: 

• Real-time shipment/order data 
• Real-time inventory levels 
• Product cycle times 
• Available/closed trade lanes 

• ROI of new system implementations 
• Actual versus planned ROI of optimization efforts 
• Employee safety data, including incidents and illness-related information 
• Yard efficiency 
• WMS YTD costs 

• Inventory reconciliation results 
• Labor productivity 
• Average order size and shipment data 
• Use of BOPIS fulfillment rates 
• Customer experience and satisfaction measures  

Deploy Next-Generation Connectivity in Your Supply Chain to Better Track Data  

Supply chain advancement provides scalability, responsiveness, emergency management, and execution of core processes. As the world grew closer through e-commerce, a divide has arisen between the limits and challenges of tracking traditional data versus the possibilities of advanced, analytics-driven insights. To ensure your company tracks the right supply chain data in 2020, approach data management from a critical view—considering its impact from procurement through outbound freight and even reverse logistics. Fortunately, working with an expert supply chain consultant can help your organization maximize results and improve profitability. To get started, request your consultation with Veridian online today.  

The post What Supply Chain Data Should I Track in 2020? appeared first on Veridian.

In part one of this blog series of the top warehouse KPIs to know, we addressed 11 warehouse key performance indicators in the categories of internal operations and staffing. In part two of the series, we pick up where we left off and discuss 9 additional KPIs including the original categories and further incorporating supplier and customer-based KPIs in the mix.  

If you’re a supply chain leader or warehouse manager, read on to learn about the next 9 top warehouse KPIs to know to improve operations, reduce costs, and improve customer satisfaction below.  

1. Internal Operations—Inventory Carrying Costs: Calculating inventory carrying costs is perhaps the most important metric of all. It is calculated by dividing the total carrying costs by overall inventory costs. Of course, having the technologies and capabilities in place to track inventory carrying costs is crucial. 
2. Suppliers—Backorder Rate: The backorder rate is an equally important metric and warehouse key performance indicator for supply chain management. Calculate the backorder rate by dividing the total number of items on backorder by the total number of items that arrived successfully. 
3. Suppliers—Supplier Quality Index: Different suppliers offer products of varying quality. Track the rate of returns for products ordered that originated from different carriers or suppliers. By separating the returns rates, as well as considering the success of put-away and dock management efficiency, warehouse leaders can better determine which suppliers have higher performance. 
4. Suppliers—Lead Time: While the lead time may not seem like an important metric to track, insights into supplier lead-times help supply chain leaders better plan replenishment. In addition, lead-time analytics also reduce the risk of out of stocks, and depending on your facility, lead-time analysis may help build the business case for cross-docking or drop shipping. 
5. Suppliers—Value Added Services: Tracking value-added services, including auditing and accounting practices provided by suppliers, can go a long way in promoting inventory management, as well as improving supply-chain scalability. Track the use of these services, as well as their ROI, including both indirect and direct benefits. 
6. Suppliers—Attitude of Suppliers: The attitude of suppliers also impacts efficiency on the dock schedule and willingness to continue working with that supplier. This is a highly subjective measure, so compile the above-listed supplier warehouse key performance indicators, averaging them together, to create a one-stop view of a supplier’s efficiency or deficits. 
7. Staffing —Workforce Utilization: Workforce utilization must be your next top metric to track. This is the total number of workers that have fulfilled their duties accurately and efficiently divided by the total number of workers employed by a given facility. As workforce utilization increases, companies have less wiggle room with working with internal staff resources. As a result, staff augmentation may be necessary. 
8. Customers—Loyalty: Customer loyalty is best expressed as customer retention (repeat order) rates. Measure this warehouse key performance indicator by dividing the total number of repeat customers by the total number of customers for a given period. A higher result means your brand loyalty is increasing. 
9. Customers—Competition Pressure: The final in the lineup of warehouse key performance indicators is also subjective. Competition pressure describes the changes made in your organization as a result of a competitor’s new service or product. It may include a lower customer retention rate, decreased order volumes, increased services offered by competitors and more. As a result, it is best to define the variables that affect competition in your organization, consider their weight, and devise an “average-like,” prioritized list of competitors.  

Start Defining Your Warehouse Key Performance Indicators Now 

There is not a set rule that requires all warehouses and distribution centers to track the same key performance indicators. However, the common warehouse key performance indicators have a proven record of establishing both transparency and better management practices. Start tracking the full lineup of key performance indicators, including those listed here, to achieve a successful 2020 now. Also, contact Veridian online to learn more about what other specific metrics and technologies might help your company grow faster and more effectively.

The post 9 More Warehouse Key Performance Indicators for 2020 appeared first on Veridian.

• Internal Operations
• Staffing 
• Suppliers 
• Customers 

Let’s cover the top 10 warehouse KPIs for supply chain leaders and warehouse managers to succeed in 2020. 

1. Internal Operations—Shrinkage of Inventory: Inventory shrinkage refers to the amount of inventory listed in the accounting records, but such inventory is no longer within the facility. This may be the result of theft, damage, incorrect measuring, or supplier failures. Supply chain leaders can calculate the inventory shrinkage percentage by conducting a physical inventory, subtracting that value from the presumed value within accounting, and dividing the result by the presumed value in accounting. 
2. Internal Operations—Inventory Turnover Ratio: The inventory turnover ratio allows companies to manage fluctuating inventory throughout the year. It is calculated by dividing the cost of goods sold by the average inventory for a given timeframe. Higher ratios reflect the number of times a company has successfully sold its inventory again and again throughout the year. 
3. Internal Operations—Receiving—Cost Per Line: The cost per line in receiving allows supply chain leaders to better understand the costs of receiving. Understanding the cost per line within receiving can help managers better plan inventory, reorder, and account for variations to meet demand during peaks and lulls. 
4. Internal Operations—Receiving Cycle Time: The receiving cycle time is the total amount of time it takes to process a delivery. It is calculated by dividing the total time for a delivery by the number of total deliveries. As the result shrinks, receiving cycle time, the time needed to process an average delivery, will decline. Obviously, faster-receiving cycle times amount to more efficient processes within inbound operations. 
5. Internal Operations—Rate of Customer Returns: Understanding the rate of returns is essential to preventing the dissolution of inventory, keeping inventory under control, and identifying potential defects within a product. To achieve the best customer satisfaction levels possible, companies must offer returns. However, the rate of returns can be easily calculated by dividing the total number of returned products by the total number of products sold. Additional metrics can be calculated by dividing the cost of returned goods by the total cost of goods sold. As the values decline, the volume of returns will decline, and companies can rapidly judge the overall health of their returns management practices. 
6. Staffing—Time Since the Last Incident: The time since the last incident, such as an injury, is another essential warehouse management KPI to track. Since the top warehouse KPIs include a high focus on safety and keeping company costs in check, a longer time since the last incident alludes to a safer, healthier workplace. As a result, more employees are likely to stay with your company, reducing staff turnover rates. 
7. Staffing—Time Lost Due to Injury: Time lost and costs incurred as a result of an injury should also be tracked. The volume of time lost due to an injury amounts to un-worked hours on the floor, so it creates additional expenses. Furthermore, efficiency and other supply chain inventory and performance metrics may suffer as a result of time lost. 
8. Internal Operations—Putaway Efficiency: Tracking the putaway inventory efficiency includes KPIs for the putaway cycle time, the accuracy rate of locating the inventory, and the putaway cost per line. Putaway cycle time is calculated by taking the total time for putaway activities and dividing by the total time worked. Location putaway accuracy is determined by dividing the inventory units located correctly by the total inventory units located. Finally, the putaway cost per line is calculated by dividing the total cost of putaway activities by the total putaway activities completed. Putaway efficiency is improved when the cycle time decreases, accuracy increases, and the cost per line decreases.  
9. Internal Operations—Cost Per Order: Tracking the cost per order is an average that helps businesses understand product pricing and quickly judge overall profitability or contraction within the operation. The simplest way to calculate this metric is to average the total value of all costs by the total number of orders. In other words, add all costs together, and divide by the total number of outbound order transactions. 
10. Internal Operations—Order Picking Accuracy: Order picking accuracy is another of the vital top warehouse KPIs to track, and it is easy to calculate. Divide the total number of orders accurately picked by the total number of orders picked.  As the value increases, overall accuracy increases. 

Start Applying the Top Warehouse KPIs for Success in 2020 

Finding the best way to improve operations is not always simple, but supply chain leaders that understand the top warehouse KPIs can better manage inventory, supplier relationships, deliver on higher customer service levels and stay competitive. Stay tuned for part two of the warehouse KPIs for supply chain professionals to track in our next blog. Learn more about what your organization needs to do to improve warehouse efficiency by working with an expert in supply chain systems and technology, such as Veridian. Visit Veridian online to get started now. 

The post Top Warehouse KPIs to Succeed in 2020 appeared first on Veridian.

The Costs of Haphazard WMS and OMS Implementation

A haphazard WMS and OMS implementation can significantly increase the TCO of supply chain management systems. Without integration, supply chain leaders experience problems in the holistic visibility of their supply chain. Furthermore, recent SKU proliferation experienced by enterprise retailers and wholesalers makes tracking inventory more complex, and traditional systems have limited scalability and functionality. System limitations may come to light when a company attempts to simultaneously leverage analytics, robotics, automation, and new technologies. Since modern supply-chain technologies can speed order fulfillment and shipping, any technical limitations on inventory visibility could extend to customer service and continue downstream and have a negative impact on consumer satisfaction.

A modern WMS and OMS implementation can help ensure supply chain scalability of your systems. This drive is further augmented when a company opts for the use of external resources, such as Veridian, to aid in the implementation of the WMS and OMS. Poor implementation may also open the door to cybersecurity risks and lower customer service responsiveness. When attempting to complete a WMS and OMS implementation internally, it can be difficult to secure the proper dedicated resources with the right experience to be fully engaged throughout the duration of the project. Conflicting priorities between the project and day to day responsibilities may lead to sub-optimal participation, hindering the project’s overall success.

The Value of External Resources in System Implementation

Working with an expert WMS implementation company alleviates the problems created when attempting to complete an implementation internally. Instead of a company relying solely on existing resources and experience, supply chain leaders partner with objective experts in supply chain systems implementation, integration, and maintenance. Whole verticals of the supply chain software sector have risen to power in the age of cloud-based systems. The use of a WMS within the cloud significantly lowers the challenges and barriers to implementation, maintenance, and use of a WMS. Unfortunately, even with cloud-based systems, the opportunity for error will naturally lead to an increase in TCO, assuming a company overlooks something. External resources and consultants effectively become a third-party marketplace and project manager that works directly with a business to avoid these risks. Additional resources provided by third parties, such as the Veridian AutoMate platform, including both TestLead and ConfigBuilder, go a long way in reducing the delays during implementation and expediting software implementation.

How to Leverage New Tools and Consultant Services During Your Project

There isn’t a one-size-fits-all approach to any implementation. When attempting to leverage new tools and consultant services, supply chain leaders should look for experts with these key qualities in potential consultants.

• Extensive experience in managing omnichannel supply chains and software implementation.
• Ability to work with multiple personalities and management styles, improving communication.
• Able to take an objective view of a project, looking at it from the customer, shareholder, and third-party perspectives simultaneously.
• Cultivates established relationships with major industry software vendors, including HighJump, Manhattan Associates, and Blue Yonder (formerly JDA).
• Availability to a portfolio of companies that have leveraged their skills and have shown a proven track record of success.
• Offers tools to speed time to deployment, such as ConfigBuilder, which effectively allows for the migration of complex system configuration elements across environments and reduces the amount of time necessary to replicate individual configurations for each system.

Furthermore, supply chain leaders should also follow these key implementation best practices to lower implementation costs as well as TCO:

1. Learn when to say ‘no’ to software vendors that wish to add unnecessary modifications to the system.
2. Always ensure the software meets the business requirements.
3. Set realistic time schedules for implementation.
4. Take the time to learn how to use the software properly.
5. Test the software in a secure, limited environment prior to the launch date.
6. Build rapport among workers by making a gradual shift to the inclusion of new software while slowly phasing out the original application.

Reap the Benefits of Faster, More Affordable Implementation

Supply chain leaders can lower the total cost of ownership of supply chain systems, especially during WMS and OMS implementation, by choosing an established supply-chain systems integrator like Veridian. Instead of hoping your implementation goes smoothly, improve outcomes by recognizing the potential costs of poor implementation practices, how external resources aid in implementation, and how to leverage new tools and consultant services during the project. Tap the power of experts by requesting a consultation with Veridian.

The post WMS and OMS Implementation: Why Having a Team and Full Suite of Tools Gets the Job Done appeared first on Veridian.

1.  4 Keynote Addresses From 5 Speakers

Modex 2020 is proud to host  UN Ambassador Nikki Haley’s perspective of diplomacy in the supply chain, CEO of EMOTIV Tan Le’s views of the “The Neurogeneration – The Future Is Closer Than You Think” and how technologies continue to transform ever aspects of humanity, CEO of MHIA George W. Prest in a panel-like keynote, and Super Bowl Champion—Peyton Manning—along with his father to discuss how teamwork, collaboration, preparation, and social consciousness derive big benefits in a business culture.

2.  Visit the Exhibit Floor

While MODEX 2020 often centers on sessions and keynote addresses, it’s important to not miss the innovation and excitement on the exhibit floor. In fact, 80% of MODEX attendees plan to see a specific product or company, so remember to visit the showroom during the available times.

The exhibit show will be open as follows:

• Monday, March 9: 10:00 AM – 5:00 PM
• Tuesday, March 10, 10:00 AM – 5:00 PM
• Wednesday, March 11: 10:00 AM – 5:00 PM
• Thursday, March 12: 10:00 AM – 3:00 PM

During the exhibit hours, remember to visit the Veridian team at booth IT 8089.

3.  Women in Supply Chain Industry Forum

Modex 2020 is proud to host the Women in Supply Chain Industry Forum on Monday, March 9 from noon to 5:00 p.m. in Room B402. This event includes a luncheon, education, and networking opportunities for MHIA and MHEDA members, as well as non-members, of both sexes. Costs are $99 for members of the noted groups and $119 for non-members. Keynote speaker Mary Kelly, Ph.D., CSP, CDR, and Retired U.S. Navy Servicewoman, will explore the ins and outs of logistics and how women can work to make more productive and successful supply chains.

4.  Connect With Your Peers During the MHI Young Professionals Networking Event

The MHI Young Professionals event focuses on the opportunities to build on personal and shared experiences and how the supply chain needs an infusion of the next generation to survive and thrive. The event is more a cocktail hour-like session, and those interested do not need to pre-register. Just bring your MODEX badge and meet new faces and those that want to know your brand, your company, and your professional stories. culture.

5.  MHI Industry Night With Colin Jost

Comedian Colin Jost—SNL head writer and co-anchor of “Weekend Update,” will host an evening of enjoyment for attendees with tickets, available for $50 per person, to unwind with drinks, food, and hors d’oeuvres. Jost has a unique approach to life and his thoughts on the supply chain are sure to please, make you laugh until your drink spills, and finally rest assured that you made the right choice in attending Modex 2020. This event will take place in the Thomas Murphy Ballroom on Wednesday from 4:30 pm to 7:00 pm.

6.  Orchestrating Man & Machine Breakout Session on Tuesday Afternoon

Manhattan Associates will be hosting a special session on the value of robotics and technology in the supply chain. As a diverse WMS and supply chain systems vendor, Manhattan Associates has a unique perspective on the value of technology and robotics, as well as their unique challenges, to bring improvement and speed to the industry.

7.  Smart Robotics on the Rise – Status Quo and Future Visions

Sponsored by HighJump, another Veridian partner, this unique breakout session will further dive into the power of smart robotics has the potential to drive new savings and efficiency in all things supply chain. Join HighJump on Tuesday afternoon in discussing the opportunities and realities of robotics in the supply chain and how today’s innovations in robotics will become the status quo of tomorrow.

8.  See Veridian at Booth IT 8089

While Veridian will not be hosting any sessions during MODEX 2020, the Supply chain technology and services leader will have a booth on the exhibit floor. Come find Veridian on any day during the conference, and check out what all the interest in implementation capabilities and Veridian’s proprietary AutoMate platform has to offer. And remember, there are countless supply chain systems’ vendors and services at the event, and MODEX is the perfect opportunity to see what sets Veridian apart from the masses. Or for those that need a little more private time with Veridian, just shoot your info over by completing the online contact form at Veridian.info. Also, Veridian will host a happy hour in the Veridian booth from 3-5 pm on Monday and Tuesday and a coffee cart all morning for anyone that wants to grab a coffee and further get to know the Veridian brand. 

Register to Attend MODEX 2020 Today

Modex 2020 is less than two weeks away, and already, organizations can barely contain their excitement. With so many advances and opportunities for improvement realized over the last year, MODEX 2020 is sure to bring something new to the table and help your organization succeed. And, it’s not too late to register! Did we mention that MODEX registration and attendance to the event—excluding a few paid events—is FREE? Complete your registration online now, and we hope to see you there.

The post 8 Things to See at MODEX 2020 appeared first on Veridian.

• Product identification  
• Product matching to orders  
• Data analysis  
• Product labeling and management 
• Documentation 
• Reporting 

The use of combined supply chain systems ensures these processes continue disruption-free, even when those systems go outside the warehouse. While a warehouse management system may perform similar functions, it may be also be limited in its use. Ultimately, the WMS may serve an inventory management purpose, but when other systems and functions are involved, inventory management processes are more reliable and accessible in modern supply chain management. Supply chain leaders need to understand how the combination of technologies and capabilities promotes successful omnichannel fulfillment.   

Challenges of Limited Inventory Management Capabilities 

The challenges of inventory management without using a dedicated, standardized system are significant. Without a system to adequately track inventory, supply chain leaders may realize an unexplainable higher rate of returns. Safety stock may turn in to excess stock, contributing to higher carrying costs. Orders between channels may lead to the worsening of this practice, and perishable products may expire well before a sale. Shopify notes that the average retailer only has a 63% inventory accuracy. 

An Inventory Management System Connects Physical Assets With Digital Data 

Regaining control over inventory is essential to omnichannel success. Retailers have spent years perfecting their channel-specific strategies, but in today’s world, a successful brick-and-mortar location depends on successful online order fulfillment and vice versa. Proper demand forecasting, allocation and replenishment, optimization of supply chain processes, assortment and space planning, and proper order routing will go a long way in reducing excess inventory and promoting lower cycle times. Unfortunately, gaps occur often, and when a gap exists, it results in delayed delivery. That does not mean safety stock goes out the window. The key to success lies in leveraging a proper system in a series of tools to effectively “grease the wheels” of your warehouses and all fulfillment centers, including brick-and-mortar locations. According to Camcode:  

“Because inventory often consists of movable assets, inventory management systems are critical for keeping tabs on current stock levels and understanding what items move quickly and which items are more slow-moving, which in turn enables organizations to determine when it’s time to reorder with greater accuracy.” 

How to Use an Inventory Management System to Boost Omnichannel Fulfillment 

Supply chain leaders have spent exhaustive hours working to boost omnichannel fulfillment, and to that end, the biggest players have achieved success. However, finding the best way to leverage an inventory management system and drive more efficient omnichannel fulfillment is slightly more complex. It depends on recognizing the unique challenges in your operation and putting the right technologies and software in place to overcome such obstacles. A bonus technique for increasing your authority is to utilize a link-building strategy like the one used by Link Gathering. To encourage better omnichannel fulfillment through the right inventory management practices, follow these steps: 

1. Bring all supply chain inventory management platforms or resources under a central software umbrella.  
2. Collect and analyze data to better understand appropriate safety stock levels for each fulfillment channel.  
3. Use all fulfillment channels as potential distribution centers to move more freight between channels and deliver on time every time.  
4. Work with suppliers to automate reordering, based on data, as well as fulfill orders directly from the manufacturer or when unloading a truck (dropshipping and cross-docking). 
5. Include returns management processes within inventory management to maintain better records and understand customer buying habits. 
6. Reconcile inventory automatically, recognizing when the inventory on-hand does not align with the expected number of orders shipped and vice versa. 
7. Use data from the supply chain system to increase transparency for customers, including inventory availability and realistic fulfillment options, as well as reassuring customers of potential risks in the supply chain, such as the coronavirus, for example, and how your company keeps them at bay.  

Invest in and Integrate Your Processes With a Robust Inventory Management Strategy to Unlock Greater Growth 

Your inventory management system is essential to success in modern omnichannel fulfillment. Instead of hoping your inventory will meet demand, guarantee inventory availability by following the steps above and putting the right inventory management strategy to work. Also, get ready to deploy your inventory management system by contacting Veridian and requesting a supply chain system consultation today. 

The post What Is an Inventory Management System & Its Role in Omnichannel Fulfillment? appeared first on Veridian.

Warehouse Management System 

The warehouse management system (WMS) is the most recognizable and diverse of the e-commerce supply chains’ system lineup. The warehouse management system serves as the system of record for all in-warehouse and distribution center activities. The WMS connects to supplier systems and reseller POS platforms. It can include labor management functions and could even offer opportunities for improvement through automated order processing and routing.  

Warehouse Control System 

The use of a warehouse control system goes a long way in building efficiency in the supply chain. As defined by TechTarget: 

“A warehouse control system (WCS) is a software application for orchestrating activity flow within a warehouse or distribution center. The WCS coordinates material handling sub-systems such as conveyor belts, carousels, scales and sorters. At each decision point, the WCS determines the most efficient product flow and transmits directives to the equipment controllers to achieve the desired result. Facilities with automated material-handling hardware often have a warehouse control system (WCS) that integrates with a warehouse management system (WMS) to provide management with a comprehensive view of the warehouse.” 

As a result, companies continue to benefit more from the integration between these systems, enabling the use of automated robotics throughout the enterprise.  

Warehouse Execution System 

A warehouse execution system (WES) is a newer solution, allowing companies to tap the value of a WMS without making the full leap into a WMS. WES functions include supply chain controls to improve performance, including light task management, wave management, limited inventory management, and some picking.  

Yard Management System 

The yard management system (YMS) is a useful tool for managing trailers, drivers, and stored inventory in the yard. Supply chain leaders can amplify the value of the YMS by adding gate management to ensure drivers do not arrive early and to validate all inbound deliveries. This reduces the risk of fraud and theft by enhancing  visibility to the freight in the yard, which in turn provides additional integrity into the supply chain.  

Dock Scheduling System 

The dock scheduling system (DSS) is responsible for both managing inbound and outbound logistics at the facility. This includes the dock schedule for trucks arriving, the movement of trucks from the yard to the dock, staff for manning the dock, and more. Without an effective dock scheduling system, the flow of goods will bottleneck and result in major inefficiencies. More importantly, the dock scheduling software goes a long way in ensuring the timely arrival of goods and keeping drivers’ claims for detention pay at bay. In other words, the dock scheduling software acts as the system of record for when goods move into or out of the physical warehouse doors.  

Transportation Management System 

The transportation management system (TMS) handles the logistics of moving freight from suppliers to your facility and when freight leaves your site headed for the customer’s destination. While this step may be subject to carrier availability and systems used, the application of a TMS is a critical step in automating and leveraging real-time freight rates and keeping freight spend under control. The TMS further improves supply chain visibility by keeping everyone informed of freight status, including potential delays or other areas of concern, such as damage and more.  

Integrated E-Commerce Shopping Carts 

Integrated e-commerce shopping cart systems are another critical component of modern, omnichannel supply chain management. Multiple shopping cart providers exist, and without integration, these carts are meaningless payment processors. Through integration, integrated shopping carts aid in efficient inventory management and continuous improvement of e-commerce supply chains.  

Third-Party E-Commerce Marketplace Systems 

More companies are turning to third-party systems to stay competitive in the age of e-commerce. For instance, working with a third-party logistics provider (3PL) may alleviate constraints with finding available capacity, sourcing products, sourcing logistics, and more. According to Berman: 

“Due to rapid growth and rising customer expectations, the report observed that companies often struggle with developing a supply chain that not only meets expectations but also can scale rapidly to provide the same or a better level of service as their business grows. 

And it added that this can lead them to partner with a 3PL to boost their in-house capabilities and resources and be able to scale up quickly and effectively in order to capitalize on ecommerce opportunities.” 

All E-Commerce Supply Chains Require a Robust Set of Integrated Systems to Succeed 

Efficient e-commerce supply chains depend on the sharing of data and collaboration. Without collaboration, omnichannel supply chains would cease to exist, returning to their stale, siloed management styles. With a robust set of systems in place, supply chain leaders can gain end-to-end visibility, promote their brands through better customer experiences, lower inventory carrying costs, improve order fill rates, and leverage the latest technologies. Improve your e-commerce supply chains by requesting a consultation with Veridian, a supply chain systems expert, now. 

The post E-Commerce Supply Chains Need These Supply Chain Tech Systems appeared first on Veridian.