September 21, 2021
What truly makes an advanced order management system and why would a retailer need one?
June 17, 2015
When supply chain professionals plan for future demand, their thoughts gravitate to meeting customer service levels while minimizing the amount of capital tied up in inventory. Demand planning and warehouse inventory management is about having the right product in the right place at the right time … right? Four occurrences of the same word would cause my old English teacher to shudder at this excessive use of a word in a single sentence. However, let us return to the important business of meeting consumer demand without incurring the cost of excess inventory.
May 19, 2015
Once upon a time, agile software development was revolutionary and cellphones were for making cellphone calls, but those times are long gone. Agile is a mainstream best-practice and if you aren’t applying it then I must brand you a laggard. But agile has changed in the last decade, and not always for the better.
April 27, 2015
By now, most of you have probably heard of, or read, the book entitled Competing on Analytics by Thomas Davenport that demonstrates how some of the most successful organizations in the world have made analytics a core capability and integral to their strategic planning. MIT Sloan has been tracking this phenomenon since 2010 echoing Davenport's findings. From 2010 to 2012 they indicated that 67% of those surveyed believed that analytics gave their organizations a competitive edge. However, in their last installment of their longitudinal study, something interesting happened. Something that I like to call the 'Oakland Athletics Effect'.
February 10, 2015
Improved forecast accuracy leads to many downstream improvements in operations and ultimately, on the balance sheet. That is why Gartner, Inc., a highly respected information technology research and advisory firm, puts forecast accuracy at the top of its pyramid of supply chain metrics. In a study published in February 2012, Gartner stated that a 6% forecast improvement could improve the perfect order by 10% and deliver a 10-15% reduction in unnecessary inventory.
February 6, 2015
I was reminded recently that there are really only two ways to improve your organization’s profitability; increase revenues or decrease costs. Arguably, increasing revenues does not necessarily translate into higher profits.Take a moment to think about how much revenue it would take to bring the same amount of dollars to the bottom line as would a 2% decrease in operational costs.
February 5, 2015
Back in the mid-nineties, I attended a conference on business forecasting. The focus was on the science of statistical forecasting, and, well...I may have drifted off during the second half hour of discussions on Winters’ triple exponential smoothing.
January 28, 2015
Forecastability is an important word in demand planning. Oddly, the word forecastability is not listed in the Merriam-Webster dictionary nor is it found in Wikipedia. However Wiktionary describes forecastability as “A measure of the degree to which something may be forecast with accuracy”. That something could be an item used in the production of a finished good or the finished good itself.
August 22, 2014
In 2013, Gartner conducted a survey on Big Data Adoption in Supply Chain Industries and found that adoption has been flat and is lagging behind the overall adoption rate of other industries such as banking, insurance, and retail to name a few. Gartner ascertained that these characteristics pertaining to the Supply Chain industry are attributable to an inherent lack of understanding of what Big Data truly is and a fundamental lack of the required skill sets. This, in essence, is the challenge facing the Supply Chain industry.
August 5, 2014
Information technologies have evolved and so have the expectations of the business community. Do you remember when the main objective was automation? Now organizations who continue to view their supply chain applications as transactional engines are missing huge opportunities. Supply chain applications must provide a competitive edge by offering differentiation, depth of functionality, adaptability and robust analytics. The supply chain is also continuously evolving; its evolution leads us to the value chain.
July 3, 2014
The recent Becker’s Hospital Review Annual meeting in Chicago was invigorating and thought-provoking, with many presentations from CEOs of many leading healthcare systems. I wanted to share an overview of three breakout sessions that spoke specifically to Healthcare Supply Chain.
May 7, 2014
Big data and big data analytics pose a series of implications and challenges. Organizations that seek to become analytical competitors must have an established analytics culture consisting of well trained employees who are using the right enabling technologies. However, these organizations face challenges maintaining consumer privacy while they collect and use sensitive information.
February 23, 2014
Big data is all around us. As we have seen, big data is characterized by its volume, velocity, and variety (the infamous three 'V's). Great, you have a lot of data...now what? Well, these untapped 'dark data assets' give rise to vast opportunities for those organizations that seek new ways to compete. Studies have shown that organizations that compete on analytics by focusing on their core competencies fare much better than those who do not. Some have gone so far as to call big data the ‘new oil’. In part two of this four part series, we will take a closer look at big data analytics.
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