Tag: supply chain management

supply chain network optimization

Supply Chain Optimization Helped a Personal Protective Equipment Manufacturer to Mitigate the Bullwhip Effect on Supply Chain Operations

Engagement Summary

The client is an American multinational company well-known for manufacturing personal protective equipment and worker safety equipment. The client produces more than 10,000 products including adhesives, fire protection, window films, and laminates. The client was looking forward to leveraging Quantzig’s expertise in supply chain optimization to optimize their existing supply chain network. Due to the outbreak of novel coronavirus, the client was facing a sudden surge in demand that they had never witnessed earlier. Thus, they approached Quantzig to address issues using advanced supply chain network optimization solutions and improve their existing supply chain operations.

Business Challenge

Due the COVID-19 outbreak and its widespread impact, the client, a personal protective equipment manufacturer, witnessed an extremely high demand for face masks and other personal protective equipment. The high demand for PPE, in turn, resulted in several challenges induced by supply chain disruptions including, inventory stock-outs, high lead times, and an increase in the number of SKUs to name a few.

Businesses that are affected by the outbreak of coronavirus can now leverage supply chain optimization solutions to monitor warehouse and customer needs. Request a free proposal to know more about our supply chain analytics solutions.

The key challenges faced by the client included:

Problem statement 1

Keeping up with the surge in demand for personal protective equipment– With the outbreak of COVID-19, the client faced a bullwhip effect on their supply chain. The demand suddenly increased tenfold, resulting in a supply and demand gap. The existing predictive model deployed by the personal protective equipment manufacturer failed to predict the reasons behind demand fluctuations. 

Problem statement 2

Lack of real-time market update– The client lacked real-time updates on market demand. The absence of a real-time dashboard was one of the major factors which contributed to the bullwhip effect for this client. Thus, the client was looking forward to deploying a real-time analytics dashboard to get market updates on demand for personal protective equipment that they manufacture.

How We Helped the Client

By collaborating with Quantzig, this personal protective equipment manufacturing giant embarked on a supply chain optimization journey that revolved around catering to the needs of their customers and improving lead time by leveraging advanced supply chain network optimization solutions. To help the client address their challenges, the supply chain optimization experts at Quantzig adopted a comprehensive approach that led to a complete transformation of their supply chain operations. We developed a data-driven dashboard that provided real-time demand updates to the client to facilitate smooth supply chain functions.

Supply chain network optimization solutions can help businesses to predict future risks by spotting irregulaties in the supply network. Speak to our experts to learn how we can help you can spot risk patterns in the supply network.

Business Outcome

The supply chain optimization solution provided by Quantzig’s experts helped the client to predict demand and plan the delivery of products as per the requirement and set priorities. This supply chain optimization engagement also helped the client to –

  1. Streamline supply chain operations
  2. Reduce lead time by 46.3%
  3. Mitigate the bullwhip effect on the supply chain
  4. Revise inventory replenishment plans
  5. Stop further supply chain disruptions

Why Choose Quantzig as Your Next Supply Chain Optimization Solutions Provider?

Businesses are now leveraging advanced analytics to initiate the development of advanced supply chain optimization plans. Advanced analytics can analyze structured and unstructured data to provide valuable and actionable insights. Such actionable insights enable organizations to make decisions on time and minimize risks. Quantzig today stands out as an exclusive supply chain optimization solution provider. By collaborating with us businesses can embark on a complete supply chain network optimization journey.

Request a free solution demo to learn how our analytics experts can help you address your supply chain challenges.

supply chain operations analytics

Tackling Coronavirus’s Impact on The Canadian Grocery Retail Supply Chain with the Help of Supply Chain Operations Analytics – A Case Study

Engagement Summary

In a recent engagement, Quantzig collaborated with a Canadian supermarket to help them address the issues around supply chain disruptions due to the COVID-19 outbreak. In this success story, our supply chain analytics experts share insights on how COVID-19 is weighing on the global economy and how Canadian grocery stores can become more resilient by leveraging supply chain analytics to improve supply chain operations and diversify supply chains.

About the Client

The client is a well-known Canadian grocery retailer with a business scale of 10,000+ product categories, 900+ brands, and more than 1 lakh products on offer. Catering to a huge customer base, the client was recognized as one of the best grocery stores in Canada known for its prompt services and customer support initiatives.

Business Challenge

With COVID-19 being declared a global pandemic, the Canadian grocery retailer witnessed a sudden surge in demand for daily utilities and groceries due to which they faced several challenges such as inventory shortages, warehouse discrepancies, and out of stock scenarios.

With the rise in demand, the client was looking at improving its supply chain operations by ensuring the on-shelf availability of essential products. Considering the multiple complexities involved, achieving their ambitious targets seemed to be an uphill task that required a deeper understanding of customer buying patterns and advanced supply chain operations analytics capabilities to undertake correction and realign supply chain operations in the shortest possible time. This is when the Canadian grocery retailer approached Quantzig looking to leverage its supply chain analytics capabilities to drive improvements in supply chain operations.

Request a FREE proposal to gain comprehensive into our supply chain operations analytics capabilities.

The challenges faced by the Canadian grocery retailer included:

  • Disparate, siloed systems for BI, data visualization, and analysis
  • Lack of synchronization between supply chain planning and execution
  • Limitations in supporting supply chain initiatives and platform capabilities
  • Irregular reviews of inventory stock levels, causing frequent stock-outs
  • Lack of flexibility in the supply chain network and distribution footprint, that made it difficult for decision-makers to prioritize between cost-to-serve and customer satisfaction
  • The high lead time associated with the analysis of unstructured supply chain data sets

Supply Chain Operations Analytics Engagement: Key Deliverables

  • Reduce inventory stock-outs and deliver growth
  • Improve inventory forecast accuracy and eliminate wastage
  • Conduct root cause analysis for stock-outs across the nodes
  • Support reconfiguration of the supply network by identifying all feasible network scenarios
  • Reduce cost-to-serve and improve service levels

Supply chain operations analytics helps you act on data-driven insights to reduce cost-to-serve and improve service levels. Contact our analytics experts to learn more about its benefits.

Solution Offered

By collaborating with Quantzig the Canadian supermarket giant embarked on a supply chain operations transformation journey that revolved around catering to the needs of its customers to improve turnover rates using a scalable analytics-driven solution. To help the client address their challenges the supply chain operations analytics experts at Quantzig adopted a comprehensive approach that led to a complete overhaul of the existing supply chain management system and betterment of supply chain operations.

The initial stage of this supply chain operations analytics engagement revolved around statistical analysis that leveraged exploratory techniques and predictive modeling to forecast product demand at a large scale. The use of inventory optimization models further enabled the client to devise a robust strategy for addressing complex supply chain issues with multiple constraints. By performing a detailed analysis of factors impacting inventory stock-outs, our supply chain analytics experts also highlighted slow-moving and low-margin SKUs that were negatively impacting inventory costs. This, in turn, helped the client to rationalize 30% of the SKUs and achieve a 55% reduction in inventory costs.

supply chain operations analytics

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Business Outcome

Our supply chain operations analytics solutions enabled the Canadian grocery retailer to identify an additional opportunity to redeploy 15% of the assets held at the point of sale and achieve savings by reducing CapEx and cost to serve.

The benefits also included:

  • Streamlined supply chains & improved business agility
  • Reduced supply chain shock levels
  • Re-defined stock replenishment plans
  • Improved supply chain operations management & customer service levels

Why choose Quantzig’s supply chain operations analytics solutions?

With deep-rooted expertise in carrying out advanced supply chain analytics engagements and helping leading businesses from across industries, Quantzig today stands out as a premier supply chain analytics solutions provider. By collaborating with its clients, Quantzig develops and delivers innovative business models and analytics-driven insights to address the unique supply chain requirements of businesses.

Want detailed solution insights? Contact us right away!

pharma logistics

Rethinking the Pharma Logistics Supply Chain with Advanced Supply Chain Network Optimization Solutions

About the Client

The client is a leading US-based pharma logistics services provider that offers warehousing, logistics and distribution services for medical-pharmaceutical products. The services offered by the client include all processes involved in different phases of pharma logistics, right from professional warehousing to optimized delivery and distribution.

Business Challenge

The pharma logistics segment is experiencing major upheavals due to the dynamic economic environment and the technological disruptions in the market. Many companies have been successful in responding proactively to these disruptions by manufacturing and marketing medicines more efficiently, but they’ve invested relatively little effort in re-configuring their manufacturing, logistics and supply chain management operations. However, logistics and supply chain management is just as important to driving process efficiency as it’s the link between the manufacturer and the marketplace.

For years, pharma logistics companies have been challenged by various supply chain complexities. Today, many of them have critical new products on the brink of launch and are forced to redesign their supply chain network. The need to market new products faster with minimum delays have prompted pharma logistics service providers to design an integrated supply chain – one that offers a unified view of all internal and external operations to reduce the time-to-market and deliver better products with the shortest lead time and lowest cost.

Whether you seek to improve your logistics and supply chain management strategy, operations or transform your entire supply chain, our portfolio of advanced supply chain network optimization solutions offers the ideal combination of being tailored to your unique needs paired with faster time to value. Request a FREE proposal for detailed insights.

The US-based pharma logistics client faced similar challenges due to the lack of an enterprise-wide single source of truth & reliable, consistent and controlled reporting. Also, the complexities in delivering insights through complex reporting and dashboarding processes prompted them to collaborate with Quantzig to slice and dice supply chain data and optimize operations using an analytics-backed approach to supply chain network optimization.

Solution Offered

As part of a strategy to optimize pharma logistics supply chain operations, the client partnered with Quantzig to implement a solution based on advanced supply chain analytics techniques and machine learning algorithms. Collaborating with a team of supply chain network optimization experts and data scientists, the pharma logistics services provider was able to shorten it’s time to market by optimizing supply chain operations and improving process efficiency.

Quantzig adopted a three-pronged approach to optimize supply chain operations:

For building a supply chain optimization model, the analytics experts at Quantzig leveraged advanced analytics and powerful insights that combined supply chain network optimization and dynamic simulation capabilities in one package, empowering them to measure every aspect of supply chain performance to enhance decision making.

pharma logistics

Contact us to learn how our supply chain analytics solutions can improve your supply chain performance

Phase 1: Baseline Scenario Modeling

The first phase of this supply chain network optimization engagement revolved around the creation of a baseline scenario model to analyze the current state of the supply chain and to better understand factors impacting supply chain efficiency.

Phase 2: Data Analysis

The second phase of this supply chain network optimization engagement focused on integrating pharma logistics supply chain data from disparate sources to identify factors impacting supply chain efficiency. The use of advanced data analysis and statistical models helped generate comprehensive insights and analyze the pharma logistics supply chain issues in real-time.

Phase 3: Data Interpretation

In the third phase of this supply chain network optimization engagement, we focused on interpreting data to develop a strategic and tactical approach to decision making with visibility into pharma logistics processes, network design, sourcing, and capacity. The aim was to enhance supply chain network optimization by analyzing what-if scenarios and the cost factors associated with network redesign and decisions based on stochastic parameters.

Result

  • 15% reduction in changeover time and cost through optimized production plans
  • Accurate demand forecasts to prevent overtime and variable shift patterns
  • Reduction in inventory levels through reduced cycle times and increased conformance to plan
  • Dramatic reduction in pharma logistics scheduling time through automation

Want comprehensive insights on the business benefits of supply chain network optimization solutions? Schedule a FREE demo now!

About Quantzig’s Supply Chain Network Optimization Solutions

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Supply Chain Network Optimization

Supply Chain Network Optimization Helped an Apparel Manufacturing Company to Improve Operational Efficiency and Enhance Profit Margins by 35% | Quantzig’s Success Story

A leading apparel manufacturing company in the U.K was facing several predicaments due to the growing complexity of its global supply chain network. With the expansion of its customer base globally, the company wanted to make its network operations more flexible, efficient and responsive to dynamic business scenarios. That is why they approached Quantzig to leverage its expertise in offering supply chain network optimization solutions to redesign its supply chain to manage complexities and improve operational efficiency.

Today it has become highly crucial for businesses to optimize the flow of goods within their supply chain network to increase savings on procurement cost and improve service efficiency. While focusing more on improving service levels and reducing working capital, businesses generally fail when it comes to   aligning their network optimization programs with long-term business goals. Supply chain network optimization solutions help businesses to design, build and manage an enterprise network that not only supports but helps continually foster profitable growth. Our structured approach to supply chain network optimization helps companies in reducing end-to-end supply chain costs including purchasing, production, warehousing, inventory and transportation, while significantly enhancing profit margins and service levels.

Our robust network optimization solutions help companies to proactively identify improvement areas in both the upstream and downstream supply networks. Request a FREE proposal to gain in-depth insights into our portfolio of supply chain network optimization solutions.

Business Challenge

The client, an apparel manufacturing company based out of U.K, was looking to develop an ongoing capability to evaluate business and environmental changes that were affecting their supply chain. Also, the client wanted to identify the optimal number of warehouses that would help them in minimizing distribution costs and fulfilling customer demands. They approached Quantzig to leverage its network optimization capabilities to address their core business challenges and improve profit margins.

Our supply chain analytics experts can help you optimize the efficiency and capability of your network management systems, methods, and processes. Get in touch with them right away!

Solutions Offered and Value Delivered

Quantzig’s supply chain network optimization experts adopted a comprehensive approach to understanding the client’s profitability targets and growth ambitions. This engagement included several phases that started with a detailed evaluation of the current supply chain performance of the client. With this insight, our supply chain analytics experts made recommendations for improving the efficiency of supply chain operations. Also, by analyzing and extracting insights from the client’s internal supply chain data, our supply chain analytics experts were able to uncover several cost-saving opportunities during the evaluation phase.

Quantzig’s supply chain network optimization solutions also helped the client to:

  • Optimize resources and raw materials in the upstream supply network
  • Achieve significant improvements in performance by shortening the internal clearance processes
  • Improve profit margins by 35%

Supply chain network optimization can help in improving logistics and supply chain operations across industries. Wonder how? Request a FREE Demo below.

supply chain analytics

Supply Chain Analytics Engagement Helped a Leading Food and Beverage Manufacturer to Identify Potential Savings Worth Around $3M- Quantzig’s Success Story

The client is a leading food and beverage manufacturer based out of Sweden. With a considerable number of manufacturing units spread across Europe, the client was facing predicaments such as lack of visibility through their supply chains, over and understock inventory. Therefore, they approached Quantzig to leverage its expertise in offering supply chain analytics solutions, to track their products through all stages of the supply chain and enhance their approach to supply chain management.

Business Challenge

With the constantly evolving economic and geopolitical environment, businesses cannot afford to not know their supply chain processes in detail. This holds true for food and beverage companies as they deal with trend-driven products, where in addition to the supply chain hitches, they are consistently exposed to dynamic fluctuations in consumer demands and markets trends. Furthermore, such factors leads to unforeseen supply chain interruptions and a shortage of raw materials.

The client, a leading food and beverage manufacturer, faced multiple supply chain challenges due to their inability to make sense of the plethora of data from suppliers and external third-party sources. They approached Quantzig to leverage its supply chain analytics expertise.

Quantzig offers a comprehensive portfolio of customizable supply chain analytics solutions to help companies improve supply chain management, reduce wastage, and excess inventory costs. Request a FREE proposal to gain better insights.

Top Challenges Faced by the Client

Problem Statement 1:

The food and beverage manufacturer faced predicaments in identifying supply chain risks and opportunities due to their inability to combine real-time datasets with market insights. As a result, their market expansion efforts were getting hampered.

Problem Statement 2:

Due to the lack of historic datasets related to suppliers, the client found it challenging to track and control inventory in warehouses and stores.

Problem Statement 3:

The third challenge that the client faced was to combine the dynamic demand signals with real-time market insights to make data-driven supply chain decisions and to proactively respond to the changing market needs.

Supply chain analytics experts at Quantzig help leading organizations to analyze dynamic demand patterns and improve supply chain visibility. Get in touch with them right away!

Solution Offered and Value Delivered

Phase 1:

The first phase of this supply chain analytics engagement revolved around supply chain risk analysis. In this phase, our supply chain analytics experts helped the client to gain insights into historic supply chain information by region, vendor, and product hierarchies. The extracted data was then contextually juxtaposed with external risk and cost factors. This, in turn, empowered the client’s sourcing team to make better supply chain decisions.

Phase 2:

In the second phase of this engagement, the supply chain analytics experts developed a customized dashboard to help the client track and control inventory in the warehouse. The use of advanced analytics dashboards  empowered the food and beverage manufacturer to precisely track and monitor supplier performance. Furthermore, this helped the client’s sourcing team to drill down to the root cause of performance inadequacies 

Phase 3:

The final phase in the supply chain analytics engagement focused on improving supply chain visibility. Quantzig’ supply chain analytics experts helped the client to gain real-time visibility into their supply chain processes and identify potential risks that could impact their ability to deliver the right product at the right time.

 

With the help of customized analytics dashboards, the client gained detailed insights into their inventory levels, order status, and market demand in addition to supply chain processes. By gaining in-depth supply chain insights, the food and beverage manufacturer was better positioned to tackle supply chain disruption, understock and overstock situations. The offered solution also helped the client to identify potential savings worth around $3M by reducing distribution costs and enhancing the flexibility of the supply chain.

Synchronize demand planning with production and adjust to changes in available materials with the help of our customizable supply chain analytics solutions. Request a FREE demo now.

Why choose Quantzig as your next analytics partner?

Supply chain analytics is the need of the hour in today’s complex business scenario. Though food and beverage industry players have been adopting new ways to implement analytics and improve supply chain efficiency. Not many have been successful in adopting and implementing a process that leverages analytics to draw insights from supply chain data. We, at Quantzig, can help you identify new opportunities within the supply chain and benchmark costs across each of the supply chain nodes. Also, Quantzig’s supply chain analytics expertise can help you design and implement optimal purchase processes by offering the ability to discover potential opportunities in the new market.

To learn more about how our supply chain analytics solutions can help you reduce maverick spend and improve supply chain management capabilities, request for more information below.

supply chain analytics

How Supply Chain Analytics is Paving the Way for Lean Supply Chain Operations? : Quantzig’s Success Stories

Quantzig, a leading analytics advisory firm that offers customized analytics solutions, has announced the launch of their latest newsletter on benefits of supply chain analytics solutions for businesses today. Supply chain analytics acts as a nexus between industries and the gigantic troves of supply chain information lying at their disposal. Supply chain analytics solutions  help businesses identify new opportunities within the supply chain and benchmark costs across each of the supply chain nodes.

Quantzig offers a comprehensive portfolio of customizable supply chain analytics solutions to help business leaders improve supply chain planning, reduce excess spend, reduce wastage and excess inventory costs, improve the demand forecast, demand planning process, and the capacity planning process.

Reducing distribution cost by about $8M for a leading sports brand:

Identifying supply chain opportunities and risks by combining real-time datasets is a daunting task for businesses. A leading sports brand was finding it difficult to gain access to historic datasets related to suppliers, costs, and overall business outcomes. They wanted to combine the dynamic demand signals with real-time market insights to make crucial supply chain decisions and proactively respond to the changing needs of the market.
Quantzig’s supply chain risk analysis solution helped the client to gain access to historic supply chain information by region, vendor, and across all product hierarchies. The solution offered helped the client’s sourcing teams to better analyze the performance data of suppliers and drill down to the root cause of performance inadequacies. By leveraging Quantzig’s supply chain analytics solutions, the sports brand was able to improve the flexibility of the supply chain and reduce distribution cost by $8M.

Minimizing inefficiencies in  supply chain management:

Are obsolete inventory management systems leading to poor business outcomes? If yes, then you must read our success story to learn how we helped how we helped a food and beverage industry player gain control over their inventory to keep food distribution safe and efficient.
During the course of this engagement, our supply chain analytics experts developed a customized dashboard to help the client gain actionable insights and optimize their supply chain operations. This further helped the food and beverage company to enhance supply chain management efficiency by combining descriptive and predictive data sets to regulate the consequences of different choices of action.
Gain better visibility into supply chain processes and improve operational efficiency by putting your real-time data to work. Get in touch with the experts.

Improving demand forecasting efficiency through supply chain analytics solutions:

Building an effective demand forecasting model is no more a myth. This success story by Quantzig is the best example of  this where one of its clients faced a similar predicament but realized a major improvement in their capabilities to forecast demand with a suitable demand forecasting model.

By leveraging Quantzig’s supply chain analytics solution, the client, a distilled spirits manufacturing company, was able to overcome challenges that were affecting on-time and in-full delivery. Also, a multi-source data integration solution by Quantzig helped them to gain an end to end visibility on supply journey of each product right from manufacturing to order delivery.

Request a free demo to gain real-time insights on the position of your assets with the help of our supply chain analytics solutions.

Monitoring vendor risks and minimizing inventory levels:

Measuring the supply chain and vendor performance to increase profitability has become one of the major roadblocks for many companies. Supply chain analytics solutions may hold the key to success. Take a quick look at our recent case study to understand how we helped a processed food retailer to optimize their existing logistics and route operations to minimize inventory levels and monitor the vendor risk and performance.

The client was facing several predicaments in monitoring and tracking their supply chain processes. Factors such as these, along with a decline in profit margins impelled them to leverage analytics to monitor inventory levels/avoid out-of-stock scenarios. Our supply chain analytics experts adopted a comprehensive approach that helped them to reduce costs associated with the supply chain and drive sustainable development. Also, the processed food retailer was able to develop robust supply chain strategies that helped them to serve the needs of the customers and maximize overall profitability.

 

Supply Chain Network Optimization

Supply Chain Network Optimization: Key to Boost Supply Chain Results

What is Supply Chain Network Optimization?

Supply chain network optimization is an advanced analytics approach that aims to optimize supply chain functions by offering a holistic view of the end-to-end supply chain operations. Companies can develop powerful network optimization capabilities to align the supply chain network to long-term business goals and reduce costs and maximize output with the help of supply chain network optimization. Also, it helps in improving service levels and reducing working capital across the end-to-end distribution network.

At Quantzig, we aim at developing dynamic supply chain network optimization capabilities that help businesses to realize the true potential of their existing supply chain networks. Additionally, our supply chain analytics solutions help in focusing on reducing complexity, downtime, and cost through automation, orchestration, analysis, and technology investments.

Request for FREE Proposal to gain better insights into our portfolio of supply chain analytics solutions.

Supply Chain Network Optimization Best Practices

Drive clarity of supply chain needs

For any business, it is important to have 360-degree visibility into overall supply chain network design exercise. Each part of the supply chain network optimization hierarchy has its own needs and requirements. A top-down approach can help if a comprehensive supply chain network design exercise is contemplated. This approach offers a long-term framework in a time-phased manner, which acts as an input to tactical planning. Tactical planning decisions can further help in structural and operational policy decisions in a given supply chain model framework.

By optimizing the efficiency and capability of your network management systems, we ensure that your infrastructure investments provide maximum returns. Get in touch with our experts to know more.

Adopt a two-stage optimization approach

Companies should adopt a two-stage approach for supply chain network optimization and design exercise. These two approaches are:

Funnel Approach: Companies usually work with several products, processes and facilities to achieve the designed future target. This results in the creation of multiple scenarios. To achieve results faster, companies need to limit the number of scenarios to enable optimization. This can be achieved by using the KPIs set for a strategic network optimization exercise, such as investment cost, cost of ownership, ROI, etc.

Sensitivity analysis: The second approach revolves around leveraging what-if analysis before finalizing the strategic recommendations, through multiple scenario analysis based on possible changes in demand, cost inflation,  deflation, and fiscal policy.

Our supply chain network optimization solutions portfolio is committed to ensuring that your network meets the supply chain requirements. Request a FREE demo now!

Frequency of a supply chain optimization exercise

Companies need to review their key metrics and goals against existing supply chain networks periodically. Since supply-side capabilities and demand environment are dynamic so doing an annual review on key operating needs like inventory management can offer visibility into network performance. Also, it can help companies in translating network data into actionable business insights, improving their network management capabilities.

Want to learn more about best practices for supply chain network optimization? Request for more information below.

original equipment manufacturers

Top 4 Benefits of Supplier Performance Management

What is Supplier Performance Management?

Supplier performance management is defined as a process that helps businesses to analyze, measure, and manage the performance of their suppliers. This helps them to cut costs and drive continuous improvements in supply chain operations. Supplier performance management involves activities that aim at improving the performance and capability of suppliers. Also, it ensures that both parties share in the benefits of better quality and performance, shorter cycle times, and lower costs.

By leveraging supplier management solutions, businesses can identify potential issues and their root causes. Companies mostly rely on timely delivery, price reduction, and service quality offered by their suppliers in order to gain more profit. Therefore, supplier performance management directly impacts the quality of the whole supply chain, making it important to establish an efficient mechanism to ensure the quality of services or products offered. Through supplier performance management, companies can eliminate suppliers who fail to comply with performance requirements. Supplier performance management helps in setting the stage for suppliers to understand the needs and expectations of customers. As a result, a strategic partnership can be built, resulting in an increase in suppliers’ performance and competencies.

Supplier performance metrics brings together the components of risk management, metrics management, supplier segmentation, and consequence management. This can help actively manage important supplier relationships in a consistent manner, providing actionable data to facilitate supplier selection.

Gaining 360-degree visibility into supplier performance and contractual agreements is difficult for businesses. But we are here to help. Get in touch with our experts right away.

Benefits of Supplier Performance Management

Avoid supply chain risk and disruptions

For businesses, it is important to be familiar with third-party vendors in their supply chain. This helps them to put measures in place to prevent interruptions and reduce the incidence of risk exposure. Supplier performance management offers in-depth visibility into the risks that can be posed by suppliers in the overall supply chain network. As a result, businesses can adapt to preventive measures to reduce or eliminate the risks that can disrupt the supply chain operations in the future.

Quantzig’s supplier management solutions can provide you a portfolio of capabilities that enable you to start building on supplier strengths, even before they’re fully onboarded. Request a FREE proposal to know more.

Improve brand reputation

The actions of suppliers may tarnish the brand image of companies. This is where supplier performance management can help. By leveraging supplier management solutions, businesses can track their suppliers’ performance against the KPIs and enact corrective actions early. This can help in improving brand reputation in the eyes of the customers.

Avoid costs and achieve savings

Lack of accurate and timely supplier information can have a huge impact on costs and savings. Supplier performance management can also help businesses in tracking a variety of cost factors that can contribute to savings achievements. Also, this can help in centralizing supplier data into a single source for everyone across the organization interacting with vendors.

Our customized supplier management solutions offer end-to-end modularity that can help in better supplier relationship management and ensure compliance and mitigate risks. Request a FREE demo to gain better insights.

Collaborate with suppliers

Collaboration with suppliers helps in creating new value for businesses. Supplier management solutions can help businesses gain relevant information about suppliers that can further pave the way for establishing robust relationships with suppliers. The data collected through supplier performance management solutions can help improve the supply base, create realistic contracts based on past performance, more communication with suppliers, formation of common goals, and the establishment of trust. Thus, supplier performance management can help in establishing meaningful and mutually beneficial relationships with suppliers and improving supplier relationship management.

Want to know more about the benefits of supplier performance management? Request for more information.

credit risk modeling

5 Best Practices to Improve Purchase Order Flow Management

A purchase order is a document that authorizes a purchase transaction. This document mentions product descriptions, prices, discounts, quantities, date of shipment, terms of payment, and other terms and conditions.  When the seller accepts all the terms and conditions mentioned in the purchase order, then the contract becomes legally binding on both the parties. A purchase order is used by the finance department of any company for forecasting and budgeting. Therefore, purchase order flow management becomes very essential for businesses that deal with large volumes of purchase orders. If any business fails at purchase order management, it can lead to chaos in the procurement and finance department. However, streamlining and organizing purchase order flow management is a time-consuming process for businesses. In this article, our supply chain analytics experts have highlighted a few best practices, implementation of which can help companies to improve their efficiency within their purchase order flow management process.

We understand that manual purchase orders are inefficient and time-consuming to maintain, which is why we have developed advanced analytics solutions to help you tackle this challenge. Get in touch with our experts right away.

purchase order flow management

Best practice #1: Assess existing workflow

For your purchase order management system to work efficiently, you need to track and analyze the existing process as designed and used on a day-to-day basis. An in-depth analysis of purchase order workflow can help you identify bottlenecks in the manual purchase order system. Also, it can guide in planning the purchase order lifecycle and can further help in addressing other inefficiencies in the business operations.

Best practice #2: Establish a central supplier directory

Establishing a central supplier directory can be a significant step towards improving purchase order flow management. This can help in enhancing the quality of information about different suppliers as well as communication across the different levels of an organization. Centralized repositories can further help in reducing the level of effort needed to retrieve and manage information throughout the organization. Additionally, it provides quality information leveraging which data analytics experts can visualize and implement strategic improvements.

Quantzig’s analytics capabilities help companies analyze the lifecycle of purchase orders, right from the order creation stage to its closure. Request a FREE proposal now to know how.

Best practice #3: Improve authorization processes

Purchase order flow management is sometimes sabotaged by the inefficient authorization process. A disruption in the purchase order management process can occur if manual paper processes are practiced or too many signatures are required on a single purchase order. Therefore, it is important to improve the authorization process.

Best practice #4: Quality Assurance

To have a better purchase order flow management system in place, accurate data entry of purchase order into the system is very important. Businesses should put a series of quality checks in place to ensure that all the required details have been accurately filled. Such details include purchase quantity, price, shipping details and whether the products are taxable or non-taxable.

We help our clients with our purchase order flow management solution to automatically reroute in-transit inventory to wherever it is needed the most. Request a FREE demo below to know more.

Best practice #5: Cancellation Process

To improve the purchase order flow management system, procurement teams in any organization need to be very careful about the cancellation process. They should accept cancellation only when it is properly formatted and documented in an e-mail or a hard copy of cancellation is forwarded to the procurement team from an authorized signatory. This can help in preventing procurement fraud and can help in improving the vendor-buyer relationship.

Want to learn more about the best practices to follow for your purchase order flow management? Request for more information below.

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reverse logistics

Reverse Logistics Management: Top 4 Benefits that Can Help You Boost Your Supply Chain Efficiency

Reverse logistics management is a multi-step process that helps tackle multiple challenges that arise in target market segmentation, logistics routing, and supplier management. Target market analysis for any reverse logistics process has become even more challenging due to the increasing number of customers and their rapidly changing behavior.

Without a robust strategy to conduct target market analysis, business tends to fail at offering complete customer satisfaction. Also, it increases distribution costs and resource investment levels. Therefore, it is very essential for businesses, especially e-commerce, to redesign their reverse logistics system.

At Quantzig, we understand that reverse logistics management enables companies to design and maintain cost-efficient supply chain networks. Additionally, a better reverse logistics system can help companies to improve profit margin and operations. In this article, our team of experts has highlighted a few important benefits and metrics that can help businesses to redesign their reverse logistics strategies and boost supply chain efficiency.

Are you finding it difficult to track shipping and monitor shipping status? We’ll help you. Get in touch with our experts right away.

RLBenefits of Reverse Logistics Management

Customer satisfaction

In today’s digital era, customers are more empowered and informed than ever. Therefore, it is important for businesses to maintain good customer relationships in order to retain customers. With the increasing number of purchases made online, customers expect faster, hassle-free and convenient returns. A good reverse logistics management system can help you enhance customer satisfaction and drive loyalty. Additionally, it helps in controlling costs and improving revenue. Therefore, it is imperative that businesses invest more in reverse logistics analytics solutions that reduce cycle times and improve customer satisfaction levels.

Better ROI

For any business, tracking and maintaining adequate inventory levels is quite an uphill task. Reverse logistics management helps in improving the speed of return and replacement, thereby, reducing the burden on inventory. As a result, the amount of capital hooked up in the inventory will reduce leading to significant improvements in ROI.

Our supply chain analytics solutions can help you identify new opportunities within the supply chain and benchmark costs across each of the supply chain nodes. Request a FREE proposal now to know more.

Improved Environmental Sustainability

Today every company focuses on tracking their environmental footprint. Advanced supply chain analytics solutions like reverse logistics management help companies to implement strategies that are environmentally sustainable. It promises to help companies to reduce the burden on the assets and the resources that are crucial to keep them running.

Metrics to Track Reverse Logistics Management

Companies across industries require metrics to evaluate the progress against its reverse logistics management plan. Such metrics help businesses to measure the impact of returns on the supply chain. Also, they guide companies to analyze the root causes behind low return rates. Today reverse logistics management is fraught with challenges that can curtail your ability to improve logistics processes.  If you’re finding it difficult to quantify the performance of your reverse logistics system, then you must consider the following metrics.

Cycle time: Cycle time is considered to be an important metric for measuring the performance of your reverse logistics system. If the return processes are standardized and streamlined, the return cycle should be short and “hassle-free”.

Amount of product reclaimed and resold: For a better reverse logistics system, it is important for companies to track the percentage of the reclaimed and resold product. Also, this metric helps in estimating the total recaptured value.

Percentage of material recycled: This metric in reverse logistics management helps in tracking the percentage of recycled product in the stream of reverse logistics. Furthermore, this helps in inventory optimization and better supply chain management.

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Waste: For any reverse logistics system, it is important to track the products that get disposed of as waste. This helps in adopting an approach that can help with waste management.

Percentage of cost recovered: Another important metric in reverse logistics management is the percentage of cost recovered from the items returned by customers. This can help in analyzing the profitability of a product that did not sell well and therefore companies can take preventive measures to avoid such loses.

Total Cost of Ownership: This is one of the most significant metrics in reverse logistics management. It not only helps to estimate the total cost of ownership in acquiring the product but also helps to measure the total cost incurred in reselling the product.

Quantzig’s Advantage

Quantzig helps its clients with its customized supply chain analytics solutions to proactively reduce their volume of returns, protect their brand and maximize return on asset. Our best-in-class reverse logistics management solutions and years of operational expertise help businesses to enhance performance and profitability. Our analytics experts help businesses to create an ROI-focused strategy that is fueled by unparalleled analytics solutions that offer insights into supply chain processes. Also, our seasoned analysts help companies to identify actionable opportunities for inventory optimization, waste reduction, and profit maximization through data collected across the product lifecycle. We offer real-time insights driven by data trends through our customized analytics dashboards that further helps businesses in data-driven decision making and enables them to tackle complex supply chain management challenges.

Want to know more about the metrics that can help you manage your reverse logistics process? Request for more information below.

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