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 […]
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 […]
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 […]
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 […]
Revolutionizing Supply Chain Management: How The SCOR Model Inspired The Birth of The Owl Solutions
Have you heard of the SCOR Model? It’s a popular methodology that has been used by thousands of organizations to improve their supply chain performance. But what are the benefits, and how does The Owl Solutions leverage SCOR with their software? Revolutionize Your Supply Chain with The Owl Solutions and the SCOR Model The supply […]
How Data Analytics Can Help Reduce Supply Chain Food Waste
Did you know that between 30-40% of food wasted occurs at the supply chain level? (Centre for Nutritional Studies, 2021). There are a number of different reasons why food waste occurs upstream. Some include over production, quality standards, logistics, unpredictable weather and more. By addressing food waste upstream and at the supply chain level, it […]