article thumbnail

Bullwhip Effect — Everything About Supply Chain

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Bullwhip Effect — Everything About Supply Chain Bullwhip effect can disrupt your supply chain and you must consider yourself lucky if you still have not experienced this. However, what is it?

article thumbnail

Warehouse Management — Everything About Supply Chain

Procurement Tactics

A recent study conducted by Oracle revealed that a staggering 82% of American consumers express concern over the potential impact of supply chain disruptions, such as delivery delays. By carefully tracking and managing stock quantities, businesses can avoid stock outs or overstocking. However, what is it?

professionals

Sign Up for our Newsletter

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

article thumbnail

Supplier Order Management Software – Everything You Should Know

Procurement Tactics

However, with the advancement of technology, businesses now have access to software that simplifies and automate the entire order management process. In this article, we will explore what supplier order management software is, its benefits, and some of the best software options available in the market.

article thumbnail

Sales Order vs. Purchase Order – 8 Key Differences

Procurement Tactics

That’s why for today, we will explore the differences between the sales order and purchase order and highlight some software commonly used to manage these orders. Here are some of the most popular procurement software tools available in 2023: 1. What is a Sales Order? Let’s first understand what a sales order is.

article thumbnail

How to Find the Right Economic Order Quantity

EazyStock

What is Economic Order Quantity (EOQ)? Economic order quantity (EOQ) concerns the most cost-efficient method of ordering stock. The objective is to find the order quantity that minimizes the total inventory holding costs and ordering costs. Will EOQ orders meet the minimum order quantity (MOQ) requirement of suppliers?

article thumbnail

Reducing Obsolete Inventory: A Practical Guide

SCMDOJO

A company can gain a lot by applying the appropriate techniques and significant software usage. Supply Chain Collaboration Solid relationships with suppliers can enhance supply chain visibility. This entire debate depends on robust management systems such as ERP and WMS. Click here!

article thumbnail

What is Purchase Price Variance (PPV) and How to Calculate it?

SCMDOJO

The formulae for the PPV is: PPV= (Standard Price – Actual Price) *actual quantity Lets understand this with some examples: Example # 1: A FMCG company plans to purchase 20,000 units of packaging material at an estimated cost of $6 per unit, setting a total budget of $120,000. per unit, reducing the actual cost to $90,000.

Price 69