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Operations Management

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4. Redefining inventory strategies based on greater visibility and more efficient optimization of resources is yielding a 20 30% reduction in inventory carrying costs, according to research on this best practice done by Aberdeen Group (2006) in its report, Best Practices in International Logistics. The study concludes that greater visibility of inventory dynamics with analytics and better planning coordination with manufacturing, suppliers and buyers can yield major gains in operating profits

5. Collapsing order cycle times through outsourcing is an emerging best practice companies who are in pursuit of operations management best practices are choosing to pursue. This is especially true of those organizations that have a logistical component to their business models are relying on, including Royal Phillips Electronics that outsourced their order management to UPS and achieved a 50% reduction in order cycle time performance, according to Aberdeen Group (2006). This was further supported by research completed by AMR Research (2005), in their study, How Best To Measure Your Supply Chain Today. This best practice increases speed, quality and flexibility by allowing Phillips Electronics and companies like them to re-focus on what is the most essential tasks in their companies......