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6 Steps to conduct a freight spend analysis

FreightWaves SONAR

A freight spend analysis can help cut those extra costs. Performing a freight spend analysis reveals extra costs deriving from unforeseen issues. Let’s look at a few best practices and steps to conduct a comprehensive, insightful cost analysis. Know the scope and value of a freight spend analysis.

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SONAR Indices & Insights: Improve Freight Shipping Procurement with SONAR SCI’s Lane Acuity Plus

FreightWaves SONAR

Supply chain professionals responsible for transportation procurement at Fortune 500 companies focus on three things – budget forecast accuracy, service scores and primary tender acceptance. harder to procure capacity at the benchmark rate per mile ) in both the outbound and inbound directions.

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Using ABC Analysis in Inventory Management

EazyStock

What is ABC Analysis? ABC inventory analysis is a method used to classify a business’s stock items into three categories – A, B and C, based on their value to the business. In this blog post we’ll delve deeper into the intricacies of ABC analysis and how it can help businesses improve their inventory management practices.

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The fundamentals of demand planning and forecasting

EazyStock

If a product isn’t available for customers to purchase because it’s out of stock, they will likely turn to a competitor and might not return. Choose and implement demand planning software While you can do demand planning manually, managing data in multiple spreadsheets makes it harder to analyze and bring together usefully.

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The fundamentals of demand planning and forecasting

EazyStock

If a product isn’t available for customers to purchase because it’s out of stock, they will likely turn to a competitor and might not return. Choose and implement demand planning software. It will be easier and faster to implement software. Use your software to produce your initial forecast. Demand sensing.

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Big data and inventory management

EazyStock

But as the number of systems being used increases, the amount of data available for consumption and analysis grows exponentially. Large amounts of unstructured and structured information that can’t be processed using traditional techniques and software because of its size is called big data. Big data brings more efficient processes.

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How do rising interest rates and inflation affect global supply chains?

EazyStock

Our eGuide, Supply chain and logistics management trends for 2023 , looks at potential issues facing supply chain managers this year and how to respond. Higher interest rates make borrowing money more costly, making financing day-to-day operations such as inventory procurement, transportation and storage more expensive. Demand falls.