Posts Tagged :

supply chain

Cut Private Label Supply Chain Costs with Master Data Management

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Holding onto older legacy systems as a cost-cutting strategy can often do more harm than good. Retail consultancy S4RB found that just a 10% loss in productivity from not having proper systems in place could cost as much as $5 million annually. The shortcomings of traditional Enterprise Resource Planning (ERP) in supply chain master data…

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4 Hidden Challenges in the Food and Beverage Supply Chain and How to Manage Them

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Today’s food and beverage supply chain is a critical piece of infrastructure, ensuring sustainability worldwide. Modern technology has been a key driver to support this ongoing operation, especially as the supply chain is evolving into more of a network rather than a linear model. Technology also plays an important role in helping companies reveal the…

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What is Green Procurement and How Can I Use It to Kickstart Sustainability Goals?

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A recent report from Bain and Co compared the COVID-19 pandemic to a dress rehearsal for climate change: the crisis has demonstrated a need to “build resilience to deal with low probability scenarios.” Sustainability is increasingly becoming a key focus for businesses across industries. Despite the effects of the pandemic, where businesses shifted from long-term…

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Managing Regulatory Risks in the Dangerous Goods Industry

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The hazardous products industry has one major advantage: Because of the dangerous nature of the goods and the complex regulatory requirements that come with them, competition is often limited. Only the true best of the best can make it past the myriad of compliance hurdles. Unfortunately, this same advantage can also be considered one of…

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cannabis leaf and oil

Supply Chain Management in the Booming Cannabis Industry

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The cannabis market going into 2021 has never been stronger. The industry is expected to climb to $73.6 billion in the U.S. alone by 2026, and its economic impact may hit $130 billion by 2024. But the industry’s boom can’t overshadow the many challenges for manufacturers, suppliers, and retailers. Regulatory compliance and legal requirements have…

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pharmaceutical products on shelves

What the Rise in Private Label Means for Manufacturers

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Store brands have gotten quite the makeover in recent years, regarding both packaging and appearance, evidenced by consumer sentiment. Today, more than 65% of consumers believe that buying a private label store brand is a savvy alternative to a name brand. What’s more, a report from Thomas Net notes that private label sourcing activity has…

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Accelerate Product Development with the Right Data Management Solutions

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You can’t rush perfection – or can you?  Creating a new product is never a decision to take lightly. Bringing new products to market requires countless hours of research, development, testing, and marketing, not to mention the associated costs. Companies must be especially calculated when it comes to choosing which new products to pursue.  The…

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supply chain visibility vs. traceability

Supply Chain Visibility Vs. Traceability: What’s the Difference?

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Supply chain visibility and traceability are both essential for improving supply chain functionality. Many companies have limited knowledge about how their supply chain works outside of one or two upstream or downstream layers. By gaining more transparency throughout the supply chain, companies are in a better position to identify inefficiencies, reduce complexities, and improve decision…

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supply chain risk

Mitigate Supply Chain Risk with Master Data Management

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Reliable supply chain data is critical to ensuring efficiency, effectiveness, and ongoing operability. When data is missing, incorrect, or inaccurate, it opens the doors for a number of business risks that could harm profitability, create delays, and damage your reputation.  To mitigate supply chain risk, organizations are turning to better ways to collect, share, and…

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Navigating the “Fuzzy” Front End of Product Innovation

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One of the greatest inhibitors to product development is the inability to capture and track ideas.  Thomas Edison said it himself, “The lightbulb is an invention with 1,000 steps.” During the early stages of product development, Edison tried 1,000 different ideas before finding one that worked.  But this shouldn’t mean it takes 1,000 steps to…

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