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What is Outsourcing? Definition, Advantages, and Examples
Many businesses have successfully adopted outsourcing processes into various aspects of their logistics and supply chain operations. Outsourcing all or part of these functions can improve efficiency and in some cases, reduce costs. This article describes the concept of outsourcing, as well as the pros, cons, and examples of outsourced functions. This information is intended […]
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Supply Planning: Definition, Process, and Best Practices
Supply planning is a business management tool that impacts supply, demand, and inventory levels. Retailers use supply chain planning systems to provide projected demand for products and materials needed to support those demands. The process is designed to balance plans for future demand with the availability of goods in inventory. Supply planning helps companies determine […]
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Plastic vs. Wood Pallets: Key Differences and Comparisons
Pallets are flat platforms used as a base for storing, stacking, handling, and transporting goods and products. Their design allows for lifting by a pallet jack, forklift, or other material-handling equipment. This design facilitates the efficient movement of goods through the supply chain, enabling easy loading and unloading onto trucks, ships, and other vehicles. Plastic […]
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Proforma vs. Commercial Invoice: Definitions, Examples, and Differences
There are significant differences between a proforma and a commercial invoice. Both documents look alike, so it is important to know how to differentiate one from the other. What Is a Proforma Invoice? A proforma invoice may answer a letter of inquiry from a potential buyer or provide the terms of a final invoice, so […]
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Order Fulfillment: Meaning, Process, and How To Optimize
The process of order fulfillment can be complex and time-consuming. However, it can be optimized with the right strategies and ultimately improve customer satisfaction, increase repeat business, and reduce costs.
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Discrete Manufacturing: Definition, Benefits, and Examples
In the past, manufacturing tended to involve long assembly lines with armies of workers playing a part in creating the finished products. This description fits well for conventional manufacturing industries. However, with rapid technological advancements, various alternative manufacturing options exist now. Discrete manufacturing is one of the most prevalent manufacturing processes that utilize a production […]
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Just In Time Manufacturing: Definition, Benefits, and Origin
New technologies, raw materials, and production strategies are being adopted daily as companies strive to remain competitive in their respective industries and to meet changing customers’ demands. Manufacturers must remain flexible and adaptable in their production methods to allow adjustments to their supply chain. Manufacturers can adopt many different production strategies, each with advantages and […]
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Electronic Data Interchange: Definition, Process, and Benefits
The use of technology is rapidly increasing in many industry sectors worldwide, including logistics. Technologies such as cloud computing and IoT devices have enabled logistics companies to access real-time data and improve the coordination of their operations. One key improvement area is how Electronic Data Interchange (EDI) is used in logistics operations. This technology has […]
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Order Picking: Definition, Methods, and Advantages
Order picking is the process of products being retrieved from warehouse inventory to fulfill orders by customers. This article will describe order picking, how it works, and ways order picking processes can improve supply chain and business results. What is Order Picking? Order picking, or the warehouse picking process, refers to selecting items from a […]
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Logistics Optimization: Importance, Process, and Optimization
Supply chain management refers to all the steps necessary to ensure goods reach their destinations. Consumer expectations have increased steadily, requiring companies to operate supply chains as effectively as possible to meet the demands of commerce. Logistics optimization is a strategy that companies implement to meet the growing demand for fast and efficient supply chain […]
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