Information about LPS Professionals

News & Events

Information about LPS Professionals

News & Events

by Admin
  • October 17, 2018

    Warehouse Technologies for Effective Inventory Control

    When it comes to inventory control, constant evaluation and adoption of crucial technologies is critical so as to improve profitability and stay competitive. Today, warehouse managers have a wide array of technologies to choose from as they strive to reduce costs, improve efficiency and streamline operations. They must ensure that goods, materials and products flow […]

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  • October 17, 2018

    Tendering Techniques for the Hotel Industry

    Purchasing refers to the process of ordering and receiving goods and services. It is a part of the bigger procurement process. Generally, purchasing refers to the process involved in ordering goods such as request, approval and creation of a purchase order record and ultimately the receipt of goods. Tendering is part of the procurement process […]

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  • October 16, 2018

    Effective Procurement and Key Performance Indicators

    Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source which ensures that buyer receives goods, services at the best possible price, when aspects such as quality, quantity, time, and location are compared. Procurement includes all purchasing functions that pertain to obtaining goods, works and services including […]

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  • October 15, 2018

    Key Strategies to Enhance Supplier Relationship

    Supplier Relationship Management (SRM) is the critical approach used for engaging with suppliers on a level that reflects the priorities of the customer organization and how best these needs can be achieved. The products and services procured are incredibly influential in how the organizations view and interact with each other. This differentiation process enables us […]

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  • October 15, 2018

    Key Stages to Develop a Global Sourcing Strategy

    Global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries. Global sourcing is often designed to deliver products or services using global efficiencies. These efficiencies include low-cost skilled labour, low-cost raw materials and other economic factors such as tax breaks and low trade tariffs. Global sourcing is […]

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  • October 15, 2018

    Essential Strategies for a Successful Procurement Negotiation

    The importance of negotiation in business deals cannot be understated. Successful negotiation involves good interpersonal and communication skills and used together to bring the desired result. In fact, negotiation is one of the main qualities employers look for when recruiting staff nowadays. This is because a good negotiator can close the best deals, leading to […]

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  • October 14, 2018

    Overcoming Key Challenges of Sustainable Procurement Practices

    Companies are increasingly placing more emphasis on sustainability procurement. A global study conducted by EcoVadis revealed that 97% of 120 supply chain professionals are placing a higher level of importance on sustainable procurement than before. In addition, Fortune 500 companies who have taken the lead in sustainable procurement have experienced great returns. Sustainable procurement is […]

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  • October 14, 2018

    Effective Techniques for Inventory Stock Control

    This article highlights five key techniques for effective inventory stock control of an organisation. Maintaining safety stock is an essential part of capturing opportunistic sales, retaining business and making customers satisfied. The common reason of delay shipment is lack of proper planning for inventory stock control. The safety stock lever is essential especially for those […]

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  • October 13, 2018

    Key Performance Indicators Minimising Warehouse Risks

    Key performance indicators (KPIs) are frequently used in general business to evaluate the success of everything from a specific department to an entire enterprise. They focus on strengths and weaknesses. Many warehousing KPI’s tend to be focused on external performance, such as on-time shipments that directly impact customers. This is a good measure, but the […]

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  • October 13, 2018

    Key Success Factors for Effective Logistics Practices

    Efficient management is the key to success, especially in supply chain management. There are various factors involved in effective logistics management. For example, automation and perfect coordination are always a scope for improvising the process. When your business witnesses growth, you must find ways to streamline logistics planning processes for improving output. Here are some […]

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  • October 10, 2018

    Data Warehousing for Integrated Logistics

    The time when it was enough to just move goods from point A to point B, passed a long time ago. Because of high competition and multiple challenges, the focus is made on customers, meeting their needs and expectations. Now the top-priority objectives of logistics companies are to ensure just-in-time delivery, supply chain visibility, product […]

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  • October 10, 2018

    Six Key Strategies to Avoid Procurement Fraud

    One of the significant problems faced by organizations and stores of all kinds and sizes is business fraud. While fraud comes in many forms, it can be majorly categorized into asset misappropriation, financial statement fraud, and corruption. Most of these fraud categories are internal. According to the 2014 Report to the Nation on Occupational Fraud […]

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  • October 10, 2018

    Impact of Digital Technology for Project Delivery and Execution

    The evolution of technologies has eased and replaced traditional methodologies of project management. What are the evolutions and changes that have critically impact the project management performance, deliverable and cost?In the past, project management and collaboration were done through faxed, letters, emails and sharing platforms. Today, the recent advancements in technology have contributed in providing […]

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  • October 10, 2018

    Key Techniques for an Effective Supply Contract

    The techniques applied to a supply contract vary depending on the type of the work and the nature of the industry. Contract technique can be defined as determining the best contract arrangement to best facilitate procurement of goods or services, in alignment with the requirements and company objectives. A “one size fits all” approach to […]

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  • October 10, 2018

    Techniques for an Effective Global Sourcing Strategy

    Global sourcing refers to seeking goods and services beyond one’s borders, i.e., from the global market. It is a procurement strategy in which companies try to find the most cost-efficient place globally for manufacturing goods. According to purchasing and procurement professionals, companies should be able to source both inside and outside their national borders. They […]

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  • October 9, 2018

    Supplier-Managed Inventory for Central Kitchen Operation

    Every successful food business operates with an effective inventory management system, which is the core of Supply Chain Excellence. This is a crucial part of running a profitable food enterprise. Without an effective inventory management system, this can lead in over-ordering thus resulting in food wastage, or under-ordering resulting in unfulfilled customer requirements. An important […]

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  • October 7, 2018

    Five Key Success Factors with Outsourced Partners

    Entrepreneurs and small business people are always looking for creative ways to accomplish more of their business goals at a lesser cost. Many of these firms have turned to outsourcing for manufacturing, engineering, and other functions. Companies that outsource concentrate effort on core areas of expertise or strategic importance, reduce costs, and improve services. Companies […]

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  • October 7, 2018

    Autonomous Vehicles for Digital Warehousing

    It has been a while since we first heard about autonomous vehicles, autonomous robots and drones, which have an enormous potential to disrupt the supply chain industry. These technologies that once seemed a distant future, now become a reality. The implementation of driverless technologies in the supply chain has already started. According to the 2017 […]

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  • October 7, 2018

    Integrating Warehousing and Transport Functions for EPC Projects

    Warehouse inventory levels and key customer ordering patterns––and transportation management systems––within which information pertaining to the location of important supply chain assets such as products or vehicles is typically stored. These systems are key factors in integrating the physical flow of goods along the supply chain. The integration of these systems leads to global inventory […]

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  • October 5, 2018

    Essential Strategies for Managing Freight Forwarding

    Freight forwarders exist independent of any cargo carriers because a key component of a freight forwarders role is finding and negotiating the best value on behalf of clients. Take freight forwarders out of the logistics equation and the supply chain would falter. The services of a freight forwarder may be a non-essential shipping expense. However, […]

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  • October 4, 2018

    Techniques to Improve TAT for Warehouse Operations

    Turnaround time (TAT) is a measuring metrics concept to evaluate a production’s operation throughput. This concept defines the amount of time taken to fulfill a request. The goal is to deliver the final product to the customer in the shortest TAT while ensuring the proper allocation of resources and saving cost/ times and making higher […]

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  • October 3, 2018

    Digital Technology for Cold Chain Distribution

    With its capital-intensive equipment, strict temperature requirements, and energy dependence, the cold chain has always been a demanding logistics segment. Now the sector is grappling with additional challenges—from increases in the sensitivity, quality standards, and volume of many of its goods, to continually mounting regulations. The cold chain also faces many of the same issues […]

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  • October 2, 2018

    Essential Techniques For Integrating Warehousing With Transportation

    When a logistics company is on the hunt for top-class logistics management tools, knowing where to start can be a little daunting. There’s a huge range of options available right now. While it’s great for businesses to have a lot of scope and choice, this also means that finding viable software solutions can get tricky. […]

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  • October 2, 2018

    Key Factors to Consider for Global Sourcing

    Global sourcing is the process that goods and services are sourced from the international market. Although discussing on global sourcing, it does not only consists of products, but also about sourcing effectiveness such as low-priced yet skilful labour, economic aspects and inexpensive raw materials. Low-priced raw materials and skilful labours are typically the purpose for […]

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  • October 1, 2018

    Key Strategies to Improve Warehouse Space Efficiency

    Warehouses are costly for companies to operate. The cost of the building, labour and inventory of a warehouse can be a significant amount. Hence, most companies would like to improve on their warehouse space efficiency, be it by streamlining the placement and picking of goods, reducing the time of goods being stored in the warehouse, […]

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