Why Triple Bottom Line is Critical for Reducing Inventory Waste in Supply Chains
Reducing inventory waste can have significant economic, social, and environmental impacts on businesses. But how can companies tackle this issue? One way to address this issue is by adopting a Triple Bottom Line (TBL) approach to inventory management. In this post, we will discuss the three pillars of TBL and explore how they are linked […]
The Impacts of Inventory Write-offs on Financial Statements
Inventory write-offs can have a significant impact on a company’s financial statements and bottom line. These write-offs occur when a company has excess or obsolete inventory that cannot be sold and must be written off as a loss. This not only results in a decrease in profits but also ties up valuable capital that could […]
What are Supply Chain KPIs and Why Are They Important?
What are Supply Chain KIPs? A supply chain KPI, or Key Performance Indicator, is a measurable metric that is used to evaluate the performance of a supply chain. KPIs are typically used to measure the efficiency, effectiveness, and overall performance of the different processes involved in a supply chain. There are a wide range of […]
Overcoming ERP Challenges to Get Accurate Supply Chain KPIs
What is an ERP? An ERP, or “Enterprise Resource Planning,” is software aiding businesses in daily operations like accounting, inventory, HR, and CRM. As organizations increasingly rely on Enterprise Resource Planning systems to manage their business processes, getting accurate Key Performance Indicators (KPIs) from these systems has become crucial for making informed business decisions. ERPs […]
How Data Analytics Can Improve Your Supply Chain
Why Data Analytics is Important Data analytics is the process of examining and analyzing large sets of data to uncover insights and trends. They can help supply chains improve end-to-end supply chain visibility, reduce costs and mitigate risks. It can help users spot challenges in their supply chain early, leaving them with more time to […]
CFO Supply Chain Insights: Prioritizing Performance Platforms
In today’s highly competitive market, efficient supply chain management is no longer just an option, but a necessity for a company’s success. A company’s finances are closely linked to its supply chain, with many aspects having direct impacts on financial performance in areas such as procurement, inventory management, customer service, logistics, and production. The complexity […]