Tag: supply chain automation

working capital management

Secret Tips to Improve Your Working Capital Management

Working capital is an essential metric across industries that helps in assessing the financial health of any business in the long-term. It can be measured by comparing its current assets to its current liabilities. Also, it indicates the level of short-term liquid assets after short-term liabilities are paid off. Effective working capital management ensures adequate cash flow is maintained by businesses, helping them meet their short-term undertakings. If a company fails to manage its net working capital effectively, it can result in cash flow problems such as liquidation of assets, legal troubles, and potential bankruptcy. Therefore, effective working capital management should be one of the top priorities of businesses. Here are some of the effective tips that companies can follow to improve their working capital management.

Working capital management can help companies in enhancing the visibility of key-value KPIs such as turnover ratios and cost benchmarking. Want to know how? Get in touch with our experts right away.

Tips to Manage Your Working Capital Effectively

Tip #1: Optimize inventory and manage procurement

Inventory management plays a crucial role in making the most of your net working capital.  If stocks are in excess, this can impact the cash resources of any business negatively, whereas, insufficient stock can lead to loss of sale and damage relationships with customers. One of the major challenges that companies face is having optimum levels of stock. Also, companies should focus on establishing better communication between departments to avoid unnecessary levels of stock.  All these measures can ultimately help in improving their approach to working capital management.

Tip #2: Pay vendors on time

The analysis of working capital levels shows that companies that pay on time establish better relationships with their vendors. Also, such companies can crack better deals, discounts and payment terms. It acts as a counter-intuitive approach to working capital management. If suppliers are happy, it can help in saving costs significantly in the long run by securing larger discounts in bulk orders and maximizing the credit period.

Quantzig with its expertise in working capital solutions helps its clients to satisfy both maturing short-term debt and upcoming operational expenses. Request a FREE proposal to gain in-depth insights.

Tip #3: Make informed financing decisions

Managing working capital enables companies to make better, strategic investment decisions. This can help in driving operational performance and efficiencies. On the other hand, unavailability of sufficient operating liquidity due to unpaid invoices or assets being tied up in the inventory can impact cash flow heavily. Therefore, to improve working capital management informed decision making is very important.

Our supply chain analytics solutions help companies optimize working capital and boost bottom line results by improving their supply chain efficiency. Request a FREE demo to know more.

Tip #4: Manage debtors effectively

For effective working capital management, it is crucial to managing expenses. For this, businesses need to reassess their credit terms with debtors to make sure they are not given too big a window for payment. Companies should necessarily review credit terms to ensure that the level of credit being offered to debtors is coordinated with its cash flow needs.

Are you looking for more useful tips to manage your working capital? Request for more information below.

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supply chain visibility

Weekly Round-Up: A Storyboard on the Importance of Supply Chain Visibility

LONDON: Quantzig, a leading analytics services provider, has announced the release of their latest storyboard on the importance of supply chain visibility and how it can help businesses improve customer service and control costs through proactive status updates of inventory, effective inventory management, reduction in supply chain disruptions, and risk mitigation. Supply chain visibility is the key to gain advanced insights into supply chain operations.

By leveraging supply chain visibility solutions, companies can integrate such insights with customer’s data and optimize their supply chains efficiently. Also, supply chain visibility can help businesses to understand customer demands, improve decision making, and enhance agility.

Quantzig’s analytics solutions have helped leading companies to make data-driven decisions and boost profitability. Below, we have summarized some of Quantzig’s recent success stories for this week and have also highlighted ways in which supply chain visibility solutions have helped companies to improve workflow and reduce inventory effectively.

Are you wondering how to increase the efficiency of your supply chain operations? Our supply chain analytics solutions can help. Get in touch with our experts now!

#1: Supply chain visibility reduced the replenishment rate by 20%: Optimizing the decision-making process and increasing efficacy in the supply chain are daunting tasks for companies across industries. But it should not be a matter of concern if your organization has a better perceptibility of the supply chain processes. A leading manufacturer in the U.S was facing a similar issue but experienced a great change in their replenishment cycle by leveraging Quantzig’s supply chain analytics solutions. These solutions also helped them to improve their forecast accuracy by 85%.

Supply Chain Visibility Engagement – 20% Reduction in Replenishment Cycle

#2: Mitigated the failures across inbound and outbound supply chains with the help of supply chain analysis: Are failures in inbound and outbound deliveries worrying you? This is where supply chain visibility solutions can help as it helped one of Quantzig’s clients, a renowned sports goods and apparel manufacturer. By leveraging Quantzig’s solution, the client was able to gain insights into the exploratory and univariate inbound data. Also, supply chain visibility solutions helped the company to identify the wholesale channel that had the lowest out-bound OTIF levels.

Supply chain visibility and root cause analysis for OTIF failures across inbound and outbound supply chains

#3: Why is supply chain visibility important for your business? Globalization, rapidly growing competition, and the increasing market complexities have swollen the difficulty for companies to keeps tabs on their ever-expanding networks of the supplier. This is the time for companies to leverage supply chain visibility solutions. Supply chain visibility aims at improving and strengthening the supply chain and making information easily available to all the stakeholders. This further facilitates forecasting and helps in better demand management.

4 Reasons Why Supply Chain Visibility is More Important Than You Think

Our supply chain management solutions help companies to enhance their supply chain visibility and demand forecasting capabilities. Request a FREE proposal today to know more about our portfolio of services.

#4: Supply chain analytics solutions improved inventory management: Do you really think reducing inventory levels and improving operational performance is a difficult task? If yes, then take a look at our latest success story during the course of which we helped a client to simplify the supply chain complexities and minimize disruptions significantly. Also, it helped the client to focus on blind spots to respond to the disruptions in a timely manner and satisfy the future demands of customers efficiently.

Supply Chain Visibility for a Leading Healthcare Retail Client Helps Maintain Better Inventory Levels

#5: What are the most crucial components of supply chain visibility? A good supply chain visibility solution enables all the stakeholders to monitor and track the movement of supplies throughout the supply chain system. There are several critical components of supply chain visibility that help businesses to improve productivity by providing visibility into the supply chain processes. Read this full article to find out what are those components.

4 Components of Supply Chain Visibility That You Need to Work on

#6: Supply chain visibility facilitated innovative care models for customers: A leading healthcare industry player approached Quantzig to gain better visibility into their supply chain process from the supply stage to the end customer delivery. Also, the client wanted to identify and eliminate factors behind the delay in the delivery of products and reduce variability. Quantzig’s supply chain visibility solutions offered real-time visibility into the shipment lead times, production rates of supplier, and customer sales projections. Furthermore, Quantzig’s customized analytics solutions helped the client to offer innovative care models to their customers.

Supply Chain Visibility Helps a Renowned Healthcare Client Offer Innovative Care Models to the Customers

Quantzig offers customized analytics solutions to improve order fulfilment ratios and increase operational efficiency. Request a FREE demo to know how our customized analytics dashboards can help your business.

#7: Unveiling the secret tips to boost your supply chain visibility: Ignorance is never bliss, well at least in this case. If you are unaware of products and parts in transit within your supply chain network, you are lagging behind most of your competitors. Supply chain visibility solutions may hold the key to success. Supply chain visibility can help your organization to respond proactively to drastic supply and demand changes by enabling you to take corrective actions and redirect supply or demand. Also, it provides a real-time picture of the inventory levels that can further help businesses to meet their compliance goals. Here are the secret tips that can help you boost your supply chain visibility significantly. Read more.

Secret Tips to Boost Your Supply Chain Visibility

#8: Supply chain visibility improved supply chain efficiency by 10%: Are you facing difficulty in managing the immense surge in demand? If yes, then you must be going wrong somewhere in optimizing the end-to-end supply chain functionalities right from suppliers to the customers. Quantzig solved one of its client’s similar issue by offering its supply chain visibility solutions that proved beneficial in identifying shortages and eradicating disruptions in the supply chain. Furthermore, this paved the way for effectively responding to production bottlenecks while improving agility in the supply chain management.

Quantzig’s Supply Chain Visibility Solution Helped a Renowned Medical Equipment Manufacturer Improve Supply Chain Efficiency by 10%

#9: Reasons why can’t you avoid supply chain visibility solutions in today’s business environment: Evergrowing competition, globalization, and increasing complexities in the business environment are some of the major roadblocks for organizations today. These factors act as hurdles for companies in effectively managing their ballooning supplier networks.  Therefore, companies can’t overlook the supply chain visibility which is obviously challenging but also important for businesses. This article offers a detailed overview of the reasons why avoiding the incorporation of supply chain visibility solutions can be precarious for businesses.

Five Undeniable Reasons Why You Need to Take Supply Chain Visibility Seriously

#10: Supply chain visibility boosted revenue by minimizing the cost to serve: Every business aims at gaining timely access to accurate supply chain information for inventory optimization and demand planning. One of the leading retailers of the US with a similar goal approached Quantzig to develop an effective strategy for enhancing supply chain visibility and demand-supply management. They wanted Quantzig to help them address the supply chain complexities in terms of manufacturing partners, suppliers, and logistics. By leveraging Quantzig’s supply chain analytics solutions, the client was able to improve its supply chain management and demand forecasts, while witnessing significant improvements in the overall performance.

Five Undeniable Reasons Why You Need to Take Supply Chain Visibility Seriously

supply chain analytics

Weekly Round-Up: A Storyboard on The Importance of Supply Chain Analytics Solutions

LONDON: Quantzig, a leading analytics services provider, has announced the release of their latest storyboard on the importance of supply chain analytics and how it can help businesses in improving supply chain visibility and merchandising capabilities. In today’s competitive business scenario, companies find it difficult to monitor operations in real time and eliminate data silos. This is where supply chain analytics can come to the rescue.

By leveraging supply chain analytics solutions, companies can calibrate their entire supply chain network efficiently. Supply chain analytics can help companies in supply chain management and improve operational efficiency to facilitate quick time-to-market. Additionally, it can enhance the end-to-end performance of the supply chain and boost demand forecasting and logistics operations.

To stay ahead of the curve and create lean operations, supply chain leaders must leverage supply chain analytics solutions to yield the visibility they need into their entire operation.

Quantzig’s analytics solutions have helped many leading companies to make smart and data-driven decisions and boost growth. Below, we have summarized some of Quantzig’s recent success stories for this week and have also highlighted ways in which supply chain analytics can help companies to analyze market demand, the impact of indirect supply chain cost and boost ROI.

Analytics-driven control metrics enable companies to gauge critical events in the supply chain in real-time. Want to know how? Request a FREE proposal now.

#1. Supply chain analytics reduced distribution cost by about $8M: Identifying supply chain risks and opportunities by combining real-time datasets is a daunting task for businesses. But supply chain analytics solutions can make this task easier by precisely monitoring the performance data of suppliers through analytics dashboards. Also, supply chain analytics solutions can offer detailed insights into inventory and market demand. Furthermore, this can facilitate supply chain optimization and enhance supply chain flexibility.

Leading Sports Brand Leverages Supply Chain Analytics, Identifies Potential Savings Worth Around $8m

#2. What are the benefits of supply chain analytics?  Supply chain analytics can help organizations to achieve operational excellence in multiple activities ranging from procurement of raw material to order fulfilment. Also, by leveraging analytics solutions in supply chain companies can enhance their category management practices and consolidate the supplier base to minimize operational costs and improve contract compliance.

Unveiling the True Potential of Supply Chain Analytics

#3. Supply chain analytics minimized inefficiencies in supply chain management: Are obsolete inventory management systems leading to poor business outcomes? No more, as supply chain analytics is here to help you out. Supply chain analytics has the potential to help companies solve several complicated decisions by leveraging millions of decision variables, trade-offs, and restrictions. It can help in identifying the key opportunities to bring about improvements in profit margins. Furthermore, this can assist in optimizing supply chain operations by combining descriptive and prescriptive data sets.

Supply Chain Analytics Solutions for Food and Beverage Companies – A Quantzig Case Study

Customized analytics dashboards can offer a 360-degree view of the supply chain operations. Request a FREE demo below to know more.

#4. Supply chain analytics eased the interpretation of market trends and enhanced operational efficiency: Catering to the growing demands while focusing on affordability is one of the major concerns for companies across industries. One of Quantzig’s clients faced a similar issue and approached Quantzig to leverage its expertise in offering supply chain analytics to bring about significant improvements in markdown percentages. Quantzig’s supply chain analytics solutions offered unparalleled visibility into the supply chain risks and demand uncertainty by interpreting the market trends in real-time.

Supply Chain Analytics for a Power and Energy Market Client – A Quantzig Case Study

#5. What’s new in supply chain analytics in 2019? Technological progress is becoming very important for companies in every sector. Supply chain management is also witnessing new trends and technologies every day. This makes it important for companies to understand the latest and existing trends to assess the benefits of evolving technologies and prioritize organizational goals. The advent of technologies like IoT and data unification in supply chain analytics has resulted in an accurate forecast of possible complications and better supply chain visibility.

What’s New in Supply Chain Analytics This Year?

#6. Supply chain analytics transformed the existing supply chain strategies and increased savings: Developing efficient supply chain strategies can be a cause of concern for businesses but you need not fear if you have a proper supply chain analytics solutions in place. A leading skincare products manufacturer was facing the same issue but experienced a great change in operations and savings by leveraging Quantzig’s supply chain analytics solutions. These solutions helped them to anticipate customer demand and accordingly regulate their inventory levels. Additionally, it assisted them in identifying top suppliers and in fine-tuning their existing strategies that resulted in increased savings.

Supply Chain Analytics for A Leading Skin Care Products Manufacturer Helps Fine-tune Existing Supply Chain Strategies and Improve Efficiencies

Are you finding it difficult to analyze supply chain data in real-time? Get in touch with our experts.

#7. What is the importance of supply chain analytics in today’s business environment?  With the increasing pricing pressures and aggravating customer demands, companies across industries are facing predicaments in enhancing supply chain efficiency and operational speed. Companies need to evolve their supply chain execution systems and tweak their marketing techniques to accommodate the growing customer demands and dynamic market conditions. Supply chain analytics holds the solutions to all of these issues. It allows companies to analyze their supply chain data and identify the efficiency gaps. This, in turn, accelerates sales, speeds-up material movement, and improves supply chain standards.

Supply Chain Analytics: A Game-changer in Boosting Your Supply Chain Efficiency

#8. Supply chain analytics improved demand forecasting capabilities significantly: Do you really think devising an effective demand forecasting model to improve end-to-end supply chain visibility is a myth? If yes, then you must go take a look at Quantzig’s latest success story where one of its clients faced a similar predicament but realized a major improvement in their capabilities to forecast demand through the use of a suitable demand forecasting model. Furthermore, supply chain analytics solutions proved to be extremely helpful in providing end-to-end visibility on supply journey of each product.

Supply Chain Analytics: A Game-changer in Boosting Your Supply Chain Efficiency

#9. What are the key supply chain challenges? The growing complexity of business environment has forced companies to re-shape their business models. Due to such complexities, companies are facing multiple supply chain challenges increasingly complex patterns of consumer expectations and customer demand. Therefore, supply chain analytics has become the need of the hour for companies if they really want to stay ahead in the competition. It can aid companies to identify specific processes and analyze the potential areas of waste or inefficiency.

How Supply Chain Analytics Can Help Solve the Biggest Supply Chain Challenges

#10. Supply chain analytics solutions minimized inventory levels and checked vendor risks: Measuring the supply chain and vendor performance to increase profitability has become one of the major roadblocks for many companies. Are you facing the same problem? Supply chain analytics may hold the key to success. By leveraging analytics solutions in supply chain, companies can optimize their existing route and logistics operations to minimize inventory levels. Additionally, these solutions can help in measuring key vendors’ performance that can further help in mitigating future risks.

Supply Chain Analytics Helps a Leading Processed Foods Retailer Minimize Inventory Levels and Monitor Vendor Risks

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Unveiling the True Potential of Supply Chain Analytics

Supply chains are lucrative platforms for gaining a competitive advantage. This is because of two reasons which include their complexity and their role in defining the cost structure of a company.  With the growing data complexity, most companies are finding it difficult to model their trade-offs of growth and supply chain cycles such as the procurement process. This is where supply chain analytics can help.

By leveraging supply chain analytics solutions, companies can fine-tune their entire supply chain network in ways that was probably not possible in the past. Supply chain analytics can help in effective supply chain management and identification of inefficiencies in supply chain configurations. It has the potential to improve the end-to-end performance of the supply chain in terms of financial, operational as well as managerial aspects. Therefore, it is high time that companies realize the potential of supply chain analytics in a real sense.

The growing complexity and globalization have put supply chains into the limelight like never before.

At Quantzig, we understand the difference that supply chain analytics can create in the supply chain operations of a company. And to help companies deal with the logistics and transportation challenges as well as improve the supply chain strategy, our team of experts has highlighted a few major benefits of supply chain analytics that can act as a guide for companies to understand market volatility, the impact of indirect supply chain cost and improve ROI.

Looking to improve efficiency across the supply chain but wondering where to start? Get in touch with our experts.

Benefits of Supply Chain Analytics

Gain a significant ROI

Supply chain analytics has the ability to analyze the structured as well as unstructured data. The insights gained from such data can help companies to respond quickly to customers’ demand maintaining integrity and accuracy.

Understand the risks better

Supply chain analytics can help in identifying the known and unknown risks. Also, it can assist in predicting future risks by identifying trends and patterns across the supply chain.

Improve accuracy in planning

By analyzing customer data thoroughly, supply chain analytics can help businesses to precisely predict future demand. Also, it guides an organization in decision-making regarding production by analyzing customer demand and market trends.

Achieve the lean supply chain

Supply chain analytics can be used by companies to monitor the responses of stakeholders, warehouse, and customer needs for data-driven decisions.

Our supply chain analytics solutions help businesses to tackle challenges such as reduced visibility and inefficient operations across the supply chain and also offer them actionable insights to facilitate quicker decisions for global supply chain management. Request a FREE proposal to know more about our portfolio of services.

Prepare for the future

Companies are leveraging advanced analytics for supply chain management. Advanced analytics has the potential to process both unstructured and structured data to offer organizations a competitive edge. Also, it sends timely alerts that facilitates better decision making. Furthermore, supply chain analytics can establish a correlation among different sources and minimize risks.

5 C’s of Supply Chain Analytics

Connected

Supply chain analytics makes unstructured data from various social media platform and structured data from the Internet of Things (IoT) accessible.

Collaborative

Supply chain analytics enhances collaboration with suppliers across the entire supply chain through cloud-based commerce networks.

To know how our analytics solutions can help you in quick and accurate decision making, request a free demo below.

Cyber-aware

Using analytics in the supply chain also ensures the security of the supply chain from cyber hacks and intrusions.

Cognitively enabled

Using analytics in the supply chain improves the capability of the supply chain through automation. It helps in coordinating, collating, and conducting decisions across the entire supply chain.

Comprehensive

Supply chain analytics offers comprehensive and fast insights in real-time as latency is something that is not acceptable in the future supply chain.

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How Supply Chain Analytics Can Help Solve the Biggest Supply Chain Challenges

“Increasing globalization and complexity have put supply chains in the spotlight like never before.”

Economies around the world are stepping back from the financial brink and have begun adjusting to a new normal, however, at the height of the downturn companies face a different set of supply chain challenges than they did. Some of these supply chain challenges include rising pressure from global competition, increasingly complex patterns of customer demand, and consumer expectations. In this blog discuss some of the biggest supply chain management challenges. The experts from Quantzig have curated some of the key benefits of supply chain analytics in overcoming these challenges.

supply chain analytics

What are the key supply chain challenges?

Customer service

Supply chain management primarily revolves around ensuring that the right product in the right quantity reaches the right place and the right time. As much as this might sound simple, this can indeed prove to be a complex task.

Cost control

The rising energy/fuel and freight costs are putting supply chain managers under extreme pressure to manage their operating costs. The greater number of global customers, technology, labor rates, and rising commodity prices tend to become more expensive.

Planning & risk management

Staying efficient and effective in today’s highly competitive marketplace is no easy task.  It requires periodic assessments and redesigns to stay in the game. These adjustments are in response to changes in the market including new product launches, global sourcing, credit availability, and the need to protect intellectual property. These risks must be identified and quantified in order to control and mitigate.

Supplier/partner relationship management

It is important to create, understand, and follow standards that are mutually agreed upon in order to better understand current performance and opportunities for improvement. Having two different methods for measuring and communicating performance and results in the wastage of time and effort.

Talent acquisition

It is becoming increasingly difficult to find talent that is qualified and interested. Supply chain managers need an extensive understanding of the key competencies and duties that are quintessential for effective supply chain management roles and the ability to efficiently source specific skill sets and methods for developing future leaders.

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