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GNFR Supply Chain

Increasing Supplier Accountability

Posted on by Lumatrak
Supplier accountability hand shake
Increasing Supplier Accountability Retail businesses rely heavily on their suppliers to provide a range of goods and services that are essential to their operations. Goods-not-for-resale (GNFR) spending represents a significant portion of a retail business's expenses and it is critical to ensure that suppliers are providing the products and services as agreed upon. Increasing supplier accountability in the GNFR space is essential for the success of a retail business. There are several...
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Managing GNFR

Posted on by Lumatrak
GNFR Management
Managing GNFR Managing Goods-Not-for-Resale (GNFR) is important in a retail business because it can have a significant impact on both the top and bottom line. GNFR expenses refer to the costs incurred on items that a business purchases for its own use, rather than for resale to customers. These can include items such as office supplies, fixtures, and equipment. Although GNFR expenses are not directly tied to revenue generation, they can still have a significant impact on a retail business's ...
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The Importance of Managing Goods Not For Resale Spend

Posted on by Lumatrak
GNFR Imagery
The Importance of Managing Goods Not For Resale Spend In a retail business, managing Goods-Not-for-Resale (GNFR) spend is crucial for maintaining profitability and ensuring long-term success. GNFR spend refers to the expenses incurred on items that a business purchases for its own use, rather than for resale to customers. These can include items such as office supplies, fixtures, and equipment. Although GNFR spend is not directly tied to revenue generation, it can still have a significant im...
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Difference between Indirect Spend and Goods-Not-for-Resale

Posted on by Lumatrak
Indirect Spend Categories
Difference between Indirect Spend and Goods-Not-for-Resale Indirect Spend Categories Indirect spend and GNFR are two terms that are often used in the context of business expenses, but they refer to slightly different things. I was introduced to the term GNFR (Goods-not-for-Resale) when my career brought me to the retail sector, after a number of years in manufacturing. I was familiar with the term indirect spend but had never heard the term GNFR. So, after more than a decade in retail ...
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Onshoring Considerations

Posted on by Lumatrak
Onshoring Considerations In today’s globalized economy, many companies have turned to offshoring, or outsourcing the production of goods and services to countries with lower labor and production costs. However, the current climate of multiple supply chain disruptions has led some companies to re-evaluate their reliance on foreign suppliers and consider the advantages of onshoring, or producing goods and services domestically. Shipment containers from offshoring Mitigating Risk from for...
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Managing Supply Chain Risk

Posted on by Lumatrak
Visual representation of a multitiered supply chain
Managing Supply Chain Risk Last month, I finished my email series discussing my supply chain digitization journey. Moving forward, I will continue sharing my experiences in managing $3.5 billion in indirect spend. Today, I will open up discussing Supply Chain Risk. Multitiered Supplier Diversity A common supply chain risk mitigation strategy is to source to multiple suppliers when a product is strategic or has significant volume. As a product, and the associated supply chain for th...
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Outcome Analysis

Posted on by Lumatrak
Impact Analysis
Outcome Analysis Last week, we touched on Advanced Analytics and the need to share supply chain status information with the broader stakeholder group in a clear, useful, predictive and actionable form. We achieved this through developing stakeholder specific modules. Importance of getting my purchases onsite Material delivery to projects is critical to the success of opening stores on schedule. Delayed materials result in missing dates. In some cases, a project would be left incomp...
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Continuous Intelligence

Posted on by Lumatrak
Continuous intelligence visualization
Continuous Intelligence Last week, we shared the components of a digitized supply chain. These are: Continuous Intelligence Advanced Analytics Outcome Analysis Collaborative Responses Unpacking Continuous Intelligence Today, we're going to unpack the idea of Continuous Intelligence. Prior to digitizing the supply chain, there's a lot of wasted time and resources in research, supplier communications, and business level communications to track and expedite materials to ...
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The Trucker Shortage & Importance of Managing On-Time Delivery Execution

Posted on by Daniel Lansky
The Trucker Shortage & Importance of Managing On-Time Delivery Execution According to industry experts, there is a significant shortage of truck drivers in America right now that is impacting the economy in a big way. In recent reports, there are more than 60,000 openings, and that number is expected to double in the coming years. Companies in the trucking industry are attempting to address this issue by doing things such as expanding their hiring criteria in hopes of filling thos...
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Digitize GNFR On-Time Delivery to Manage Supplier Performance

Posted on by Daniel Lansky
Digitize GNFR On-Time Delivery to Manage Supplier Performance Some companies still use manual processes by using the telephone, email and spreadsheets to manage GNFR (goods not for resale) supplier performance. While this system may have worked for smaller, less complex organizations, it is obsolete for lean, large, dynamic, and more complex organizations. There are multiple technologies available that can help manage different aspects of GNFR spend. These newer technologies are important f...
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