Warehousing costs at most firms are extraordinarily higher than they ought to be. Across the world, organizations spend around €300 billion annually on Warehouse Management. With the boom in online retail stores and the increasing complexity of Supply Chain Management, this spending is going to surge further. The leadership at these organizations understands that they […]
Tag Archives | benchmarking
Why “Best Practice” May Not Be Best Practice
The term “best practice” came to common usage during the benchmarking craze of the 1990s. Since then, it has been pursued by many “learning” organisations, supported by a burgeoning consulting industry who claim to have uncovered the best ways to do everything from strategic planning to systems reengineering. The promise is quite compelling: “Benefit from […]
Benchmarking Basics. What Is It and How Do You Do It?
Benchmarking is a very powerful tool many organizations use to not only measure and gauge their performance against competition, but also to push themselves to be best-in-class. Benchmarking is a source of Competitive Advantage and Continuous Improvement (Kaizen). Wikipedia defines benchmarking as: Benchmarking is the process of comparing one’s business processes and performance metrics to […]
Warehouse Key Performance Indicators
Key performance indicators (KPIs) are measures of a company’s strengths and weaknesses of the business. They should be used in comparison to the external competition and internal customers to improve company’s economic standing. In Supply Chain, the warehouse is a critical function. Should products not move effortlessly within the warehouse, a business could come to face […]
