What is Inventory Expiration and How Can Food Manufacturers Prevent It?
What is Inventory Expiration and Why Does it Matter? Inventory expiration refers to product that an organization can no longer sell. It is often referred to as “obsolete”, “excess” or “dead” inventory. Inventory usually expires after it reaches the end of its sales cycle. Naturally, expired stock is a financial loss for an organization. Not […]
How Reducing Inventory Write-offs Improves Your Triple Bottom Line
Reducing inventory write-offs is one of the most effective strategies for improving your Triple Bottom Line (TBL). The TBL, or 3P model, stands for people, planet and profit. By improving on any of these elements you will see a positive impact on all three. Reducing inventory write-offs helps to improve each of these elements in […]
3 Areas to Improve the Triple Bottom Line in Supply Chains
According to McKinsey, the typical consumer supply chain accounts for over 80% of greenhouse gas emissions and more than 90% of the impact on air, land, water, biodiversity and natural resources. The triple bottom line is a system of measurement that evaluates the financial, social, and environmental performance of a business. This system has become […]
What is Triple Bottom Line and Why is it Important?
What is Triple Bottom Line? The Triple Bottom Line is a crucial concept for businesses to understand and embrace. It’s a challenge for many companies to look beyond the traditional “bottom line” of profit margin and recognize that their impact goes further than financial performance. By adopting a Triple Bottom Line approach, firms acknowledge the […]
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 […]
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 […]