Apply Performance Management Technology to Gain Value from Information
Advanced supply chain performance management is indispensable to best-in-class companies seeking to maximize the value of information captured within their supply chains. By managing the key performance metrics, companies can identify trends and launch new products to meet new demand. They can use the data to explore and expand into new and profitable markets. And, they can analyze current and historical data to gain greater insight into financial and operational performance, as well as identify and remedy performance gaps that may be eroding profitability.
Integrate Vendor-managed Inventory Programs into Your Planning Processes
According to one industry study, vendor-managed inventory (VMI) is already used by almost one-third of wholesaler-distributors, and its use is expected to double over the next five years, especially among companies in the finished retail goods, building materials, industrial and contractor supplies industries. VMI programs provide invaluable insights into early market trends, and the access they provide to extended network inventories can significantly improve the accuracy of customer-level demand forecast. Creation of a collaborative VMI and replenishment program typically results in increased planning efficiency, lower inventories and higher customer service levels.