Information about LPS Professionals

News & Events

Information about LPS Professionals

News & Events

by Admin
  • January 18, 2019

    Using AI Analytics to Avoid Supply Chain Disruption

    Is there any way for manufacturers to predict machine failures before they happen to avoid supply chain disruptions, delay and customer dissatisfaction? An emerging solution is the use of Artificial Intelligence (AI)data analytics in the supply chain, which has the most potential to minimize supply chain disruption as well as to dramatically reduce costs of […]

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  • January 17, 2019

    Integrating AI with IoT for an Effective Supply Chain

    Artificial intelligence (AI) promises a brave new world of computers that can plan, strategize, evaluate options, calculate probabilities, and make smart decisions. But to actually do anything, AI needs the Internet of Things (IoT). You might say that IoT is the body that gives AI’s brain the ability to act. IoT also provides the data […]

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  • January 16, 2019

    Current Applications of Blockchain Technology for Global Supply Chain

    The initial idea of Blockchain was introduced in 1992, but only until 2008 the first real blockchain application on “Bitcoin” was conceptualized by a person (or group of people) known as Satoshi Nakamoto. Since then Bitcoin and other spinoff cryptocurrencies have been a hot topic. In recent years, people start to look for applying blockchain […]

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  • January 15, 2019

    Inventory Control Techniques for Effective Warehousing

    Warehousing is the act of storing goods that will be sold or distributed later. While inventory control refers to “all aspects of managing a company’s inventories like purchasing, shipping, receiving, tracking, warehousing and storage, turnover and reordering.” Inventory control is also important to maintaining the right balance of stock in your warehouse. Warehousing and inventory […]

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  • January 15, 2019

    Four Key Areas for Mitigating Warehouse Risks

    The key risks for warehousing are fire hazards, use of material handling equipment (MHE), Dangerous Goods (DG) classes on handling and security. In terms of fire, it is not only the product that’s at risk but also the packaging materials, storage systems and building materials that add to the fire load. Other important risk areas […]

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  • January 15, 2019

    Six Crucial Factors on Cyber Security for Healthcare Procurement

    Cyber Security is a real & ever-present concern for any organization. It is even so in the healthcare sector where there is an enormous amount of data that is sensitive and can be easily used for malicious attack if there are no proper safeguards. While IT and Security plays a bigger role in devising a […]

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  • January 13, 2019

    Six Procurement Best Practices for the Construction Industry

    As competition intensifies in the construction market, procurement department plays a critical role in the construction industry, as it has to manage the project execution and closure in time. This can be explained in terms of material order planning with budget allocation, budget planning and cost savings, and to ensure delivery of material to site […]

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  • January 13, 2019

    Five Crucial Factors for Implementing P2P System

    Organizations across all industries, from retail to construction to education, rely on Procure-to-Pay (P2P) solutions to convert negotiated contracts to realized savings. Implementing a new P2P solution is a big undertaking that requires collaboration with many stakeholders from suppliers to business and technical leads. Every detail matters when tracking and managing the deployment of a […]

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  • January 12, 2019

    Five Essential Criteria for a Successful Procurement Contract

    A procurement contract is a document detailing the legally-binding agreement between a company (the buyer) and supplier who is promising to sell of products and/or services with detailed technical specifications and to fulfill the terms and conditions outlined in the agreement. The buyer in return is obligated to acknowledge the goods/ or service and pay […]

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  • January 12, 2019

    Cost Reduction Strategy through Supplier-Managed Inventory

    Supplier-Managed Inventory (SMI) is the process whereby a supplier plans, manages and replenish inventory for a customer. Extensive information sharing is required so that supplier can maintain a high degree of visibility of its goods at the customer’s location. Instead of the customer reordering when its supply has been exhausted, the supplier is responsible for […]

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  • January 12, 2019

    Five Techniques for Managing Inventory in the Precision Industry

    Precision manufacturers require precise, fact-based intelligence to avoid costly delays and downtime. Maintaining safety stock is an essential part of capturing opportunistic sales, retaining business and making customers satisfied for businesses. One of the biggest and most important challenges many businesses will face is how to successfully manage and control their inventory. The common reason […]

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  • January 12, 2019

    Crucial Service Levels for Logistics Providers of Pharmaceutical Products

    The process of discovering a molecule and conducting clinical trials before approval for pharmaceutical purposes is not only challenging but also complex. Different stakeholders play different responsibilities in the process which might take years before actualization. Larger players with the capacity to provide a large range of services, support, and materials play the crucial role […]

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  • January 11, 2019

    Six Essential Areas for an Integrated Logistics System

    Logistics system is a supply chain management component that is used to meet customer demands through the planning, control and implementation of the effective movement and storage of related information, goods and services from origin to destination. Logistics management helps companies to reduce expenses and improve customer service. Contents1 Warehousing2 Warehouse Management System3 Transportation Management […]

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  • January 11, 2019

    Essential Strategies for Successful Outsourcing

    Outsourcing is the complete transfer of a business process to an independent external organisation. The reasons for outsourcing could be due to uncertain market situation at where the company is located, company’s efforts to restructure the process flow of departments, so as to achieve economies of scale as well as efforts to reduce costs from […]

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  • January 10, 2019

    Crucial Factors for Global Sourcing of Gaming Devices

    Global sourcing is a process of sourcing goods and services from the international countries across geopolitical boundaries. The main purpose is to exploit global efficiencies such as lower cost skilled labour, inaccessible raw materials and other economic factors like tax breaks and low trade tariffs. For a variety of reasons, procurement manager at many companies […]

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  • January 9, 2019

    New Technologies for Cold Chain Logistics

    Cold chain logistics refers to the maintaining precise temperature bands that store and transport pharmaceutical drugs and perishable food products. Due to its rigorous temperature requirements and energy dependence, it is perhaps one of the most complex and demanding logistics segments. The handling of highly sensitive drugs, which ultimately affects a human being, has made […]

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  • January 8, 2019

    Six Essential Areas for Controlling Construction Inventory

    Construction inventory management is a means by which construction companies and suppliers can keep track of materials, workforce, equipment and plant. This is particularly important when a construction company has multiple projects to manage, as efficient scheduling can become very complicated. A well-managed inventory can be critical to profitability as delayed, misplaced or lost items […]

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  • January 8, 2019

    Crucial Factors of Connectivity for Effective Logistics System

    Today’s consumer-centric and sustainable expectation of real-time economy speed and timing are keys. This helps companies drive speed to the global market through excellent infrastructure and connectivity. A “Connected Things” model for logistics visibility discreet wireless trackers and tags for monitoring individual assets is ideal for actionable data that can help manage the goods. Efficiency, […]

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  • January 3, 2019

    Five Applications of Blockchain Technology for a Digital Supply Chain

    Technological developments and digital commerce are gradually disrupting procurement, logistics, and supply chain. With rapid technological revolutionize around the world, the organization is facing rapid change in the way the business is being conducted. Blockchain Technology not just apply to the immediate context of currency and payments (Blockchain 1.0), or to contracts, property, and all […]

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  • January 2, 2019

    Autonomous Devices for Digital Warehousing

    Most warehousing activities and processes are still performed manually. However, new technologies such as augmented and virtual reality, drones, robots, autonomous vehicles, IoT, and wearables will without a doubt transform the world of warehousing. With the support of artificial intelligence, big data, and advanced predictive analytics, warehouse planning and analysis is expected to evolve to […]

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  • January 1, 2019

    Emerging Technology for Application in the Agri-Food Sector

    With a growing population, urbanization, climate change, consumers’ demands, and limited resources, it is crucial for us to make use of science and technology to change the way we grow, process, preserve and transport our food in a safe and sustainable method. Agri-food is a complex industry, which is challenging to initiate changes as it […]

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  • 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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