Inventory visibility is crucial. Warehouse inventory has to be able to interface with the production side of the business and they have to be able to connect within the supply chain to know what is in the warehouse and what is on a truck or stored in a trailer.

Dave Bushee, vice president of logistics technology, Penske Logistics

As part of its work, Penske manages one 150,000-square-foot internal distribution center and one 400,000-square-foot external distribution center. It provides receiving, storage, sequencing, kitting and repacking. Penske handles large parts and modules as well as shipping racks and the trailer yard. Penske also designs and produces the material sequencing racks in-house, saving production space and reducing downtime.

The actions inside a distribution center are the catalyst for speeding deliveries, managing inventories and cutting costs. Penske’s proprietary technologies track the flow of inventory through and around the distribution center, monitor product velocity, and provide advance notice of arrivals. Since coming on board, Penske has focused on reducing and controlling inventory, improving the receiving area and boosting productivity. Penske leverages a data repository that provides a single, high-level, comprehensive view of the manufacturer’s overall operations, which allows the team to increase efficiency. Information about incoming and outbound products can be transmitted electronically between supply chain partners, and the information is automatically loaded into the core system.

As soon as you accept an offer on your business, you’re going to be anxious to jump into your next big venture. Savvy buyers often withhold a portion of funds until you finish training them on the nuts and bolts of the business, so your work isn’t over just yet.

Sara Paulson, shipping coordinator, Langer Delivery

When businesses change hands, it’s common for the buyer to deposit a portion of the funds into an escrow account and not release them until you hold up your end of the bargain. While it can be scary to give up control of your business before you have the cash in hand, realize that putting the funds into an account controlled by a third party offers protection to both you and the buyer: It ensures the buyer actually comes forth with the funds and that you fulfill the criteria set forth in your agreement (such as business training or the transfer of intellectual property).

If your business earns money from subscriptions, SaaS tools or memberships that automatically renew on a monthly or annual basis, you’ll need to help the buyer gain permission to collect recurring revenue from those clients. Handling this up front can help prevent headaches and service disruptions a month down the road. Instead of living across town, your buyer may live across the country or halfway around the world. And instead of handing over the keys to the building, you’re transferring account passwords, intellectual property and domain names. That’s the beauty of having an online business – you can live virtually anywhere. But distance doesn’t mean you should close the lines of communication after price negotiations are complete.

Wondering if it’s time to add value to your supply chain? Duane Sizemore, senior vice president, marketing and business development with Saddle Creek Logistics Services, examines how value-added services can benefit your business.

Luis Barton, Vice President of Global Logistics Solution

Get products shelf ready. Value-added services such as price marking, tagging, and display building help to streamline the process of getting products on store shelves. Enhance customization capabilities. Personalization is one of today’s hottest trends. Want to offer a choice of embroidered logos on apparel? Allow customers to choose the face plate for their cellphone? Value-added services can help you deliver.  With the ability to customize products, you’re able to stock fewer SKUs, thereby reducing the cost of carrying and managing inventory.

With automated solutions and careful review of supply chain processes, value-added services can help eliminate downtime and reduce the number of touches required in the packaging process—ultimately saving money on labor. Incorporating value-added services can be challenging. Experienced 3PLs can be valuable allies. They offer the flexibility and resources to accommodate unique requirements, seasonal fluctuations, and business growth. Many of today’s 3PLs approach value-added services with a spirit of collaboration.

Supply chain and omnichannel commerce solutions provider Manhattan Associates released a solution that gives retailers new insight into individual shopping experiences to provide improved, personalized service. 

Thomas Flein

Logility, a provider of retail planning and collaborative supply chain optimization solutions, unveiled Dynamic Allocation and Replenishment, a new capability within Logility Voyager Retail Optimization. Retailers with multiple distribution centers can now automatically allocate and replenish merchandise to each store location or channel from any combination of distribution centers to boost inventory velocity and support each location’s ability to meet financial plans.

Supply chain and omnichannel commerce solutions provider Manhattan Associates released a solution that gives retailers new insight into individual shopping experiences to provide improved, personalized service. Part of the Manhattan Active Omni platform, Manhattan Customer Engagement connects customer conversations on social media platforms with real-time order information. It combines unstructured data from customer conversations with structured order information to allow retailers to make instant service improvements.