article thumbnail

Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

They need strong SCM practices to help work out the logistics of transporting goods across long distances and through multiple countries without creating longer lead times or delays. Advanced software tools can automate some parts of forecasting, providing real-time updates and alerts when inventory levels are too high or low.

article thumbnail

The Complete Guide to Procurement Technology

World of Procurement blog

Businesses leverage procurement technology for: Automating Manual Processes: From issuing purchase orders to processing invoices, automation reduces errors and saves time. Spend Visibility: Advanced analytics offer deeper insights into spending patterns, helping companies make informed choices.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Integrated Business Planning (IBP)?

IBM Supply Chain Blog

Integrated planning incorporates supply chain planning, demand planning, and demand forecasts so the company can quickly assess the impact on inventory levels, supply chain logistics, production plans, and customer service capacity. Implementing an integrated business planning approach also requires a strong technological foundation.

article thumbnail

What is asset reliability?

IBM Supply Chain Blog

To be successful, businesses need to have clear, real-time visibility into the condition of their assets and a plan to keep them running smoothly and make repairs quickly when things break. This is why asset reliability is such a critical component of business strategy. What is an asset?

article thumbnail

Triggering results with better supplier information

ivalua

In my last blog post , I talked about how the need for better supplier information was a dominant theme across the automotive industry, as well as for many other discrete manufacturers. A common mistake of many new ‘business intelligence’ programs is trying to collect and analyze too much information at the onset of a program.

Suppliers 173
article thumbnail

Event-driven architecture (EDA) enables a business to become more aware of everything that’s happening, as it’s happening 

IBM Supply Chain Blog

Becoming a real-time enterprise Businesses often go on a journey that traverses several stages of maturity when they establish an EDA. Teams want more visibility and access to events so they can reuse and innovate on the work of others. Reuse of course can bring its own challenges. How will access be controlled?

article thumbnail

The Future of EDI for Supply Chains

Let's Talk Supply Chain

The Challenges with EDI One of the main challenges that every company faces with EDI is the time and resources it takes to onboard new trading partners. The average time to onboard and go live with a new partner is about 12 weeks and typically involves IT specialists, software developers, and EDI experts.