With advances in technology, digital transformation is finally starting to take hold in the Lean manufacturing sector. While future opportunities look bright, many companies are struggling to identify that first step in their journey. In this webinar presented by the Association for Manufacturing Excellence, Mike Louderback, VP of Operational Excellence at Morgan Technical Ceramics, and Richard Lebovitz, CEO of LeanDNA, cover what, why, and how to use cloud-based analytics built on Lean best practices to drive the first steps of digital transformation in your manufacturing operation.
How do you use supplier insights to improve performance in your supply chain? This is a transcript of the Supply Chain Insights webinar conducted by Lora Cecere, Founder of Supply Chain Insights, called The Journey of Becoming First, Using Supplier Insights to Improve Performance. The webinar recording is available here.
When manufacturers talk about inventory turnover, they’re referring to how quickly their company can process the parts inventory in its warehouse. Most track it by turnover ratio, which equals the cost of goods sold (COGS) divided by inventory. The higher the ratio, the faster the company is going through its inventory and the less money is tied up in inventory capital. Additionally, the company saves on storage costs and is better able to avoid part obsolescence.
In the world of supply chain, buyers are often focused on avoiding shortages. After all, an unexpected disruption has the capability to completely halt production, costing the company millions in expedition fees, lost revenue, and work inefficiencies. In this light, it makes perfect sense for a buyer to prioritize higher inventory levels over lower. No one wants to be responsible for inadvertently causing a shortage! Continue Reading “5 Rules to Follow in Order to Reduce Inventory Turnover Successfully”
This is a transcript of the Supply Chain Insights podcast conducted by Lora Cecere, Founder of Supply Chain Insights, on her Straight Talk program, called Aligning Flows Across Manufacturing: An Interview with LeanDNA’s Richard Lebovitz. The podcast recording is available here.
Executives deepen inventory optimization with new features bringing access to operation insights through predictive analytics
LeanDNA, the leader in intelligent cloud-based supply chain analytics, today announced the availability of new multi-site visibility that brings together all manufacturing sites into one dashboard, compatible with all major ERP systems. These capabilities provide manufacturers with a comprehensive, real-time analysis of inventory and allocation issues — creating a multi-site view, no matter how many different ERP systems lie underneath each individual factory. Continue Reading “LeanDNA Unveils Industry-First, Cross-Site Visibility Features for Enterprises”
Picture this, Supply Chain Leaders: your site just received a mandate from your corporate office to reduce inventory this year by 10% across the board. Now it’s time to scramble to develop and implement a strategy to optimize inventory. But where do you start?!
Does this situation sound familiar to you? At LeanDNA, we see this all the time. Based on our experience, we’ve compiled a summary of the four must-have reports that can help you quickly organize and attack any inventory reduction initiative. Continue Reading “4 Critical Reports to Help You Optimize Inventory”
Does your factory have warning signs? You know, those bright yellow triangles? Perhaps it has an exclamation mark for caution, or a lightning bolt to represent high voltage area. Maybe it even features a skull & cross bones to signal that dangerous chemicals (or pirates) are present. No matter the sign, they clearly mean one thing: WARNING.
As a supply chain manager, you probably wish you had a sign like that for your team to help them with the purchase order process. Maybe it would be a triangle with a broken down delivery truck meant to represent an impending shortage. Whatever it would look like, it’d be amazing to give your buyers a sign for which POs could leave you at risk.
Well, there may not be a physical symbol you can place in your office, but there are plenty of warning signs to look out for. Here are four warning signs your POs could cause trouble. Continue Reading “Warning Signs Your POs Could Cause Trouble”
Inventory ties up a massive amount of working capital – to the tune of $459 billion dollars. That makes up nearly 3% of the entire United States GDP! Successful inventory management is critical to becoming a leader in supply chain in every industry vertical. And manufacturers are looking for solutions to drive inventory management improvement.
What does it take to improve inventory turns by 200% or more? Continue Reading “Inventory Management Maturity Curve: How Sophisticated Supply Chains Improve Inventory Turns by 200%”
Whether it be improvement projects, system implementations, or simply personal to-do lists, a Kanban Board is a great way to manage work. The chief benefit is that the board is visual, so your whole team can see when progress has been made (or stalled). But this visual aid loses its power when it is not kept current.
Just like your email inbox, a Kanban Board that is not kept clean is at risk of having things slip through the cracks. Here are six strategies to help your team maintain a clean Kanban Board. Continue Reading “6 Strategies to Help Your Team Maintain a Clean Kanban Board”