By some estimates, procurement costs make up 60-80% of production costs for many manufacturers. Suppliers not only contribute to product innovation, they also help manufacturers achieve more effective production processes. Given the high dollar value associated with procurement, it comes as no surprise that supply chain teams are eager to learn how to improve supplier performance to deliver millions in savings for their organizations.
LeanDNA Launches Item Change Analytics Within Flagship Solution
When are parts not just parts? Recently, LeanDNA was featured as a best-of-breed solution to consider for augmenting direct material processes as part of a call for improvement in supply chains by Lora Cecere, lead analyst at Supply Chain Insights. Below are highlights from the article, or read the full article at Supply Chain Insights.
Of the thousands of moving parts and hundreds of different roles across the supply chain, few are more directly impactful to the bottom line than that of the buyer. If buyers are successful, on-time delivery improves and inventory capital is reduced. If they fail, the company can experience enormous financial losses due to shortages, work stoppage, and days of “firefighting.” And like many critical business roles, buyers’ days are so full that work often bleeds into evenings and weekends.
LeanDNA in the news! Recently, LeanDNA Founder and CEO Richard Lebovitz was interviewed by Yitzi Weiner of ThriveGlobal to share his experience in entrepreneurship and in leading manufacturing digital transformations worldwide for supply chains for the last 25 years. Explore the highlights from that interview below or read the full article at ThriveGlobal.
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 will reduce 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 supply 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 inventory reduction strategies. No one wants to be responsible for inadvertently causing a shortage. Continue Reading “Reduce Inventory While Preventing Shortages With These 5 Rules”
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.