Events
NADITA 2019
We look forward to seeing you at NADITA 2019 in Las Vegas from April 15-18!
Events
NAED South Central Region Conference
Join the Tecsys team at NAED South Central Region Conference, we look forward to seeing you there!
Press Release
Invitation to Tecsys’ Conference Call on March 1st 2019, Covering Third Quarter of Fiscal Year 2019 Results
Montreal (February 14, 2019) – Tecsys Inc. (TSX: TCS) will release its financial results for the third quarter of fiscal year 2019 ended January 31st, 2019 on February 28th, 2019. Tecsys' President and CEO, Mr. Peter Brereton, and Mr. Mark J. Bentler, CFO, will host a conference call on March 1st, 2019 at 8:30 a.m. EST to present and discuss the results with the analysts.
Press Release
Tecsys Continues European Expansion with Acquisition of PCSYS A/S
Tecsys Inc. (TSX: TCS), a Montreal-based supply chain management software company, today announced its acquisition of PCSYS A/S, a Danish technology company.
Press Release
Tecsys Welcomes Bill King as Chief Revenue Officer
Tecsys Inc. (TSX: TCS), a Montreal-based supply chain management software company, is pleased to announce the appointment of Bill King as chief revenue officer, effective today.
Posts, Supply Chain
An Effective Brand Inspires Intentional, Meaningful Behavior
When it comes to branding, I feel confident in saying that I have seen it all. I have had to answer obtuse questions like, “What kind of car would your company be?” I have had to make things out of clay in workshops. I have been through pages of spreadsheets on consumer data. I have had a front-row seat to all of the trends – the good and the bad – through all of marketing.
Press Release
Tecsys’ New Brand Identity Reveals Clarity in Supply Chain Complexity
Tecsys Inc. (TSX: TCS), a Montreal-based supply chain management software company, today announced a new brand identity and logo that more readily communicates the company’s long-standing intention of equipping supply chain greatness.
Platform, Posts, Supply Chain
Electronic Data Interchange: The Gift That Keeps on Giving
Although electronic data interchange (EDI) has been around since the early 1970s, many businesses are taking a fresh look at how this powerful commerce platform can affect their cash conversion cycle. A strong EDI strategy can increase efficiency and reduce errors, streamlining trading partner onboarding and transactions. In this post we’ll review expectations for the future of this technology as well as how it’s changing.
Posts, Retail Order Management
E-Commerce and Physical Stores: How Do They Stack Up?
Can one retail channel truly exist without the other in today’s omnichannel world? With traditional e-commerce giants like Amazon making the move to open brick-and-mortar locations, the trend towards an omnichannel retail experience is undeniable. Both digital and physical stores continue to play important, if not always equal, roles in the shopping journey of modern…
Press Release
Tecsys Receives a 2018 Supply & Demand Chain Executive Green Supply Chain Award
Supply & Demand Chain Executive, the executive's user manual for successful supply and demand chain transformation, has selected Tecsys as a recipient of an SDCE Green Supply Chain Award for 2018.
Press Release
Tecsys Reports Financial Results for the Second Quarter of Fiscal 2019
Record Breaking Contract Bookings of $16.2 Million, Highest in Company History
Healthcare, Posts, Supply Chain
3 Myths about Point-of-Use Inventory Management Systems
Health systems looking to control costs while strengthening patient care often struggle to bring lasting change to hospital supply chains with complex requirements.
Press Release
Invitation to Tecsys’ Conference Call on November 30, 2018, Covering Second Quarter of Fiscal Year 2019 Results
Tecsys Inc. (TSX: TCS) will release its financial results for the second quarter of fiscal year 2019 ended October 31st, 2018 on November 29th, 2018.
Press Release
Tecsys Acquires OrderDynamics to Expand Omnichannel Distribution Capabilities for E-Commerce Companies
TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its acquisition of OrderDynamics Corporation, a fast-growing leader in out-of-the-box distributed order management software based in Richmond Hill, Ontario.
Events
OR Manager Conference
It's time again for the OR Manager Conference in New Orleans! September 18-20.
Events
AHRMM
AHRMM returns this year July 28-31 to San Diego, CA and we can't wait to see you there! Be sure to stop by the Tecsys booth, Booth #510, to say hello to our team.
Events
Gartner Supply Chain Executive Conference
It's that time again, time for the Gartner Supply Chain Executive Conference! Join the Tecsys team May 13-16 in Phoenix for this great event.
Events
INDICA Sell-a-Rama
Join the Tecsys team at INDICA Sell-a-Rama in San Diego from April 1-5!
Events
ProMat
We look forward to seeing you at ProMat, April 8-11, in Chicago!
Events
OR Business Management Conference
We look forward to seeing you at the OR Business Management Conference in San Diego on January 27-30!
Events
NAED Western Region Conference
Join the Tecsys team at NAED Western Region Conference, January 21-22 in Palm Desert!
Posts, Retail Order Management
Omnichannel Order Management: What Exactly is it?
Editor’s Note: This post was originally published in July 2016 and has been updated for freshness, accuracy, and comprehensiveness. Omnichannel Order Management – what is it in the context of ‘The Age of the Customer’? Even though we are in ‘The Age of the Customer’ we still see and hear of retailers not providing the…
Analytics, Business Intelligence, Healthcare, Posts
Perioperative Analytics: Exploratory Data Analysis in the OR (Part 1 of 4)
The vast swathes of data being collected in modern health systems suggest that perioperative analytics (or OR analytics) are at the ready. The truth is that extracting meaningful information from all those data points takes some coordination and a little exploration. Let's take a look at the exploratory data analysis that underscores analytics, and the different 'flavors' of perioperative analytics, from descriptive and diagnostic to predictive and prescriptive.
Posts, Supply Chain
2018 MHI Annual conference ‘Last Mile’ panel session review
On October 16 2018 I had the good fortune to represent Tecsys on a panel session “Smart cities and the last 50 feet” at the 2018 MHI annual conference. The panel was an hour of discussion around the topic of changes in last mile logistics technologies and how they will impact industry over the coming five years and I have to say it was a lot of fun and really educational.
Posts, Supply Chain
Playing It {Too} Safe with Inventory?
Although no business likes carrying safety stock, experiencing a stockout simply isn’t worth the risk to customer satisfaction. Take an industry-informed look at how to achieve demand planning ‘greatness’ when it comes to optimizing your inventory levels and still meeting customer requirements.
Posts, Retail Order Management
11 Reasons for In-Store Pick Up
In-Store Pick Up is the core service of omnichannel retail. It is the main reason businesses buy retail order management systems. What follows are the top 11 reasons why your operation needs pick up in-store, too. Whether you call it click and collect, grab & go, or buy online pick up in-store (BOPIS) – this…
Posts, Warehouse Management
4 Ways Optimizing Warehouse Picking Can Help Save Time & Money
At its essence, efficient warehouse picking is about fulfilling customer orders via your warehouse management system (WMS) with the least amount of material handling and labor output. It’s an important task to optimize as more than 50 percent of a DC’s labor force is typically involved in picking. Many organizations today overlook easy ways to make warehouse picking more efficient and less costly. Below you’ll find four ways to tackle this problem followed by an in-depth look at various picking methods and associated technologies.
Posts, Warehouse Management
The Trials and Tribulations of Warehouse Returns Management
Ask anyone in your warehouse how well they like to handle returns, and you’ll likely hear a sigh or groan in response. That’s because the returns management process, with its time and space requirements and excess inventory management, is a sizeable hassle for most distributors.
Healthcare, Posts, Supply Chain
5 Perspectives on the Clinically Integrated Supply Chain
When addressing supply chain integration, we are inherently talking about connecting the traditionally disconnected, and it becomes a complicated—and often messy—state of affairs.
Posts, Retail Order Management
What Exactly is Dynamic Inventory Visibility?
Dynamic inventory visibility is a view of stock levels that can change contingent on certain criteria. These criteria can range from geographic boundaries to promotional timings, among others. In the case of geography, users can configure specific regions or groups. Then they can apply specific stock thresholds to those virtual groupings. Dynamic Inventory Visibility in…
Press Release
Tecsys Announces the Healthcare Industry’s First Interactive Assessment Tool for IDN Supply Chain Transformation Readiness
Guide Allows IDN Leadership to Quantify the Readiness for a Consolidated Supply Chain Strategy
Healthcare, Posts, Supply Chain
It’s Time to Transform the Healthcare Supply Chain
Transformation is a disruptive undertaking, but the risks and opportunities within the IDN Supply Chain warrant a closer look into a health system's nextgen supply chain readiness.
Press Release
Tecsys Reports Financial Results for the First Quarter of Fiscal 2019
Tecsys Inc. (TSX: TCS) an industry-leading supply chain management software company, today announced its results for the first quarter of fiscal year 2019, ended July 31, 2018.
Press Release
Invitation to Tecsys’ Conference Call on September 6th, 2018, Covering Q1 FY2019 Results
Tecsys Inc. (TSX: TCS) will release its financial results for the first quarter of fiscal year 2019 ended July 31st , 2018 on September 6th, 2018.
Press Release
Tecsys Announces Appointment of Jeromie Atkinson as Senior Director, Supply Chain
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, is pleased to announce the appointment of Jeromie Atkinson as Senior Director, Supply Chain.
Healthcare, Posts, Supply Chain
Closing the Operational Gaps Between Clinical and Supply Chain in Healthcare
It’s an interesting time in the healthcare industry, and for the supply chain specifically. Each of the following market factors is thrusting the supply chain to center stage and calling on all of us to up our game in the face of more complex operations. These factors include:
Posts, Retail Order Management
Should You Use A Retail Ship-from-Store Strategy To Fulfill Online Orders?
Should online orders be fulfilled using a retail ship-from-store strategy or rather from fulfillment centers? That’s a very serious question facing retailers driving omnichannel today. There are good reasons for both fulfillment methods. Yet one better leverages a retailers’ full resource base. It’s NOT – “All or Nothing!” Too many people take extreme positions on…
Posts, Supply Chain, Warehouse Management
Cross-Docking: A Great Choice for Handling Specialty Items
Effective inventory management is always a delicate dance between the cost associated with carrying too much inventory and the risk of not carrying enough to fulfill a customer order at the right moment. With ongoing pressure to ship orders within compressed timeframes, there’s no room for error, and competitors are always on your heels.
Posts, Supply Chain
How Distributors are Solving the “Last Mile” Transportation Problem — a Real-world Example from a Market Leader
Increasingly we are seeing distributors being pinched between spiraling shipping costs and rising customer expectations. Orders are getting smaller and customers are demanding faster and faster delivery methods, all without expecting to pay anything extra to cover the additional costs of the shipping.
Press Release
Tecsys Reports Financial Results for Fourth Quarter and Full Year Fiscal 2018
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the fourth quarter and full year of fiscal year 2018, ended April 30, 2018.
Press Release
Tecsys Appoints New Chief Financial Officer
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, is pleased to announce the appointment of Mark J. Bentler as Chief Financial Officer.
Posts, Supply Chain
Are YOU a Distributor Becoming a Courier?
Not that long ago, distribution networks happily and conveniently operated through strategically-placed distribution centers, delivering, say, a pallet a month through LTL (less-than-truckload) carriers. Things might have seemed complex at the time, but there was no real thought about what could possibly happen next.
Posts, Retail Order Management
6 Retail Click and Collect Services Customers Demand
Shoppers can be fickle about the retail click and collect services they want. Of course, it all started with the desire and ease of researching and buying online. Starting with a multi-channel approach meant putting up an online ecommerce site. It supplemented your bricks and mortar presence. However, that was not good enough. All brand…
Healthcare, Posts, Supply Chain
Healthcare Supply Chain Embraces E-commerce Trends
Historically, the margins in this specialized industry have compensated for lack of advanced healthcare supply chain capabilities. Now, though, the industry is no longer standing still due to the increasing pressures on margins, traceability and customer demands.
Press Release
Tecsys Continues Support of Montreal Children’s Hospital
Today, 30 Tecsys employees hopped on a custom bike and rode through downtown Montreal to raise over $25,000 for the Montreal Children's Hospital through its annual Pedal for Kids fundraiser. Since 1999, employees from the Montreal office of Tecsys, an industry-leading supply chain management software company, have participated in the fundraising event. It has raised over $85,000 to date for the cause.
Platform, Posts, Supply Chain, Warehouse Management
The Future of Warehouse Management Systems (WMS) Must Support Complex Warehouse Requirements for a New Era of Buyers
A new era of buyers has arrived, and they are focused on the customer experience. It’s not enough to simply deliver a product into a buyer’s hands. No matter the industry, today’s savvy consumers expect a seamless, superior experience that delivers on a company’s brand promise.
Posts, Retail Order Management
Omnichannel Retail vs eCommerce Pureplay
Bain & Company published a powerful newsletter articulating “The Power of Omnichannel Stores.” The research did an excellent job of highlighting the changes gripping the modern retail world. It highlights the importance of omnichannel retail, the growth of eCommerce, and compares the irony of the cross-pollination of these two trends. Ultimately the Bain & Company research,…
Logistics, Posts, Supply Chain
Data-driven Supply Chain Strategies: Tecsys Named a Top 100 Logistics IT Provider
Each year, Inbound Logistics researches the supply chain challenges of business logistics managers and measures those against the capabilities of technology providers across the industry to develop a list of the Top 100 Logistics IT Providers.
Press Release
Tecsys Awards Mercy Top Honors at 2018 SmartVision Supply Chain Excellence Awards
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, is pleased to recognize St. Louis, MO-based Mercy for earning top honor at the 2018 SmartVision Supply Chain Excellence Awards, which acknowledges Tecsys customers for their outstanding contribution to advancing the dialogue around innovation in supply chain.
Press Release
SCAN Health announces winning solution to achieve cost-savings and system efficiencies for Alberta Health Services’ perioperative services
The Supply Chain Advancement Network in Health (SCAN Health) is pleased to announce the winning solution of the inaugural SCAN Health Design Competition is awarded to team Tecsys Inc. (TSX:TCS).
Press Release
Tecsys Highlights the Innovations that are Shaping the Future of Supply Chain at its Annual SmartVision User Conference
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, kicks off SmartVision 2018, its largest educational and networking event.
Healthcare, Posts, Supply Chain
Healthcare and Cloud: What a Difference Two Years Makes!
I recently wrote an article for Becker’s Hospital Review Health IT & CIO Report titled “Offloading IT Headaches to the Cloud is a Win for Healthcare”. It is remarkable how far we have come in the last two years. If I would have written this article then, it might have been titled "Overcoming the Fear of Cloud in Healthcare", because not too long ago, the benefits enabled by cloud technology were also shrouded in fears over perceived security risks; concerns such as "Where's my data?", "Can someone steal it?", "How do I know it is safe?".
Posts, Retail Order Management
Retail Order Routing – What Exactly is it?
Editor’s Note: This post was originally published in August 2016 and has been updated for freshness, accuracy, and comprehensiveness. Retail Order Routing is the efficient allocation and fulfillment of customers orders based on a set of predefined business rules. Basically, it means getting a customer order, finding the item in a retailers inventory and getting…
Analytics, Business Intelligence, Demand Planning and Forecasting, Healthcare, Posts, Supply Chain
Supply Chain and Finance: Shared Metrics Drive Business Success
In the January-March 2018 issue of APICS magazine, APICS CEO Abe Eshkenazi contends that if supply chain leaders bring business success then that makes them business leaders. Mr. Eshkenazi goes on to state “organizations that consider their supply chains as strategic and competitive assets outperform the market”.
Posts, Retail Order Management
BOPIS & Ship-To-Store – NOT the Same!
BOPIS and Ship-To-Store are easy to confuse. Kind of... Ship-to-store is what it says. It is about taking an order (often an online order) and shipping items to the store to fulfill. Then the customer can have it shipped to their home. Alternatively, they can have it held at the store for them to pick…
Press Release
Tecsys Introduces Last Mile Delivery Management For Modern Era Logistics Operations
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today an innovative Delivery Management Solution for the last mile that empowers regional distribution organizations and 3PLs to thrive in customer service in the digital era and achieve a significant competitive advantage.
Press Release
Tecsys Introduces the Ultimate Monetizing and Billing Management System (BMS) for Third-Party Logistics
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today Tecsys' BMS, the most agile and dynamic monetizing and billing management system in the market today.
Press Release
Tecsys Announces Resignation of CFO, Appointment of Interim CFO
ECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced that Brian Cosgrove, the Company's Chief Financial Officer, will resign to pursue other career opportunities. Mr. Cosgrove has informed Tecsys that he has accepted a position as Chief Financial Officer of a private-equity backed company.
Posts, Retail Order Management
What Exactly is Omnichannel Fulfillment?
Omnichannel has become more than just a buzzword in retail. Omnichannel retail is gaining momentum. So, what exactly does it mean? What specifically is omnichannel fulfillment, in the retail environment? More importantly, does it matter? What is Omnichannel Fulfillment? Order fulfillment happens after a customer makes a purchase. In short, it takes the customer orders…
Press Release, Supply Chain
Tecsys Reports Financial Results for Third Quarter of Fiscal 2018
Tecsys Reports Financial Results for Third Quarter of Fiscal 2018 Good operational discipline and strong bookings MONTREAL, March 1, 2018 — Tecsys Inc. (TSX: TCS) an industry-leading supply chain management software company, today announced its results for the third quarter of fiscal year 2018, ended January 31, 2018. The unaudited interim financial statements are prepared…
Press Release
Invitation to Tecsys’ Conference Call on March 2nd, 2018, Covering Q3 FY2018 Results
Tecsys Inc. (TSX: TCS) will release its financial results for the third quarter of fiscal year 2018 ended January 31, 2018 on March 1st, 2018. Tecsys' President and CEO, Mr. Peter Brereton, and Mr. Brian Cosgrove, CFO, will host a conference call on March 2nd, 2018 at 8:30 a.m. EST to present and discuss the results with the analysts.
Press Release
Tecsys Appoints Laurie McGrath as New Chief Marketing Officer
Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced marketing veteran Laurie McGrath has joined the company as its new Chief Marketing Officer. McGrath brings over 20 years of executive marketing, branding, and communication experience to the role as well as deep knowledge of the supply chain, technology, and healthcare sectors.
Analytics, Business Intelligence, Demand Planning and Forecasting, Posts, Supply Chain
How Do You Feel About Predictive Analytics?
I just read a blog post entitled How do you feel when someone mentions predictive analytics? Well, I feel like it’s a good thing. How about you?
Press Release
Tecsys Reports Financial Results for Second Quarter of Fiscal 2018
Tecsys Inc. (TSX: TCS) an industry-leading supply chain management software company, today announced its results for the second quarter of fiscal year 2018, ended October 31, 2017.
Posts, Supply Chain
Seasons Come And Seasons Go
Seasonal variations in consumption occur for many reasons; summer, back to school, various holidays. In fact, most industries experience annually recurring spikes in demand — even healthcare as they prepare for the dreaded flu season. Furthermore, the duration of a season differs depending on geography and demographics.
Demand Planning and Forecasting, Healthcare, Posts, Supply Chain
Moving Stuff Back Up The Supply Chain
There has been a lot of focus on optimizing the supply chain for order fulfillment. The on-going efforts to perfect the ‘order to cash’ process have yielded great rewards. But what about returns? Automation has reduced the number of returns due to errors however the world must move from a linear to a more circular economy and this will impact the entire supply chain.
Posts, Supply Chain
Are Wholesalers an Endangered Species?
The traditional role of wholesalers is quite simple; they buy significant quantities of products from different manufacturers, store them in warehouses and resell them to customers, whether retail, industrial, commercial, institutional or contractors. Their role is to have the right product when it is needed, at the lowest price. Pretty simple.
Analytics, Business Intelligence, Posts, Supply Chain
Evil A/R Threatens Cash Flow – Time to Fight Back
Given that accounts receivable (A/R) are essentially zero interest loans extended to customers, one might be forgiven for considering credit sales a necessary evil. Maybe one day crypto-currencies like Bitcoin will replace all other forms of payment, but in the meantime many companies have a ton of cash tied up in receivables. So how evil is your A/R?
Posts, Supply Chain
Coffee Stockout & Other Supply Tragedies
Holding inventory is a way of life. Everybody carries inventory of some kind. In my home, the central supply location is the kitchen. In supply chain speak, my kitchen is a multi-bin facility designed to optimize labour and storage. I also have a separate supply location for specialty items which require refrigeration. This would be the products that fall into the dairy and meat category. Some items are critical. Running out of sugar is one thing but a coffee shortage will definitely disrupt operations.
Platform, Posts, Software Development, Supply Chain
Can You Have Everything and Still Be Unique?
I find it fascinating that today, in our personal lives or in business, we need so many things that we did not have before. I personally never thought I needed that much, but when I look back at when I started my career, I realize that today compared to then, I do.
Demand Planning and Forecasting, Posts, Supply Chain
Role of the Distributor in a Demand-driven Supply Chain
There is a famous anecdote about Volvo car dealers heavily discounting green models because consumers preferred other colors. Volvo’s manufacturing plant, seeing the resulting spike in demand for green models, perceived it as consumer interest and upped the production. That’s right…even more green cars! Ouch!!
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Get Down to Brass Tacks
A lot of focus has been placed on advanced and predictive analytics, and rightfully so. I have written many posts and have spoken publically on the merits of advanced analytics for several years now. What I find disorienting and misleading are marketers harping on how important it is to adopt advanced analytics right now. The thing that they just don't get (or maybe they don't want to get?) is that an organization will need to transcend a series of analytical maturity levels before they can truly capitalize on the benefits of advanced and predictive analytics.
Posts, Supply Chain
Suppliers and Other Business Buddies
Good relationships are good for business. Building a relationship with a vendor takes time. It’s not uncommon for a buyer to work with the same rep for many years. They become friends, share stories and have a routine. That’s all good, right? Turns out the answer may be “not so much”.
Posts, Software Development, Supply Chain
Situational Software Development
Previously in this series I wrote that the principles of agile software development are more important than the development process (see Agile Software Development: It’s not a process). Consequently there isn’t just one correct way to do software development – the approach must be based on a careful examination of the needs of each project.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain, Warehouse Management
Competing on Data Talent
In my last post, I introduced the longitudinal study that MIT Sloan Management Review has been conducting over the past five years. From 2010 to 2012 they indicated that 67% of those surveyed believed that analytics gave their organizations a competitive edge. In 2013, that figure stabilized at 66% revealing the so called 'Moneyball Effect' where leaders lost their competitive edge that they once enjoyed because followers matured and made analytics core competencies. In 2014, that trend continued, falling to 61%.
Demand Planning and Forecasting, Posts, Supply Chain, Warehouse Management
Warehouse Inventory Management: Getting The Right Product To The Right Person
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.
Platform, Posts, Software Development, Supply Chain
The VISION thing
“If you don’t stand for something you’ll fall for anything!” That was one of my Dad’s favorite expressions and I think it’s wise; I try to live by it every day. It applies nicely to software development too where I put it in the following terms: “If you don’t have a vision for your product you’ll clutter it with lots of unnecessary features!”
Platform, Posts, Software Development, Supply Chain
Agile Software Development: It’s Not a Process
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.
Analytics, Business Intelligence, Posts, Supply Chain
Competing on Data
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'.
Platform, Posts, Software Development, Supply Chain
The Benefits of 20/20 Hindsight
Choosing the technology for a long-term project is a risky business – this season’s hottest software may be horribly out of fashion a year or two from now. That’s a big problem if you’ve built your supply chain on it; no-one wants to upgrade their software platform very often.
Platform, Posts, Software Development, Supply Chain
Introducing a Blog for Your Inner Software Geek
Tecsys develops innovative software products. Yes, we are a provider of supply chain solutions (and hey, Your Supply Chain Matters!), but underpinning all of that is a team of software development professionals who build our products with the latest technologies and tools.
Demand Planning and Forecasting, Posts, Supply Chain
Measuring Forecast Accuracy – Getting Started
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.
Posts, Supply Chain
Increasing Profitability with Automation & Validation
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.
Posts, Supply Chain
The Evolution of Business Forecasting
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.
Analytics, Healthcare, Posts, Supply Chain
About Forecastability
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.
Healthcare, Posts, Supply Chain, Warehouse Management
What defines BIG thinking?
In the movie Big, Tom Hanks plays a child trapped in the body of a 30-year-old who challenges the status quo at a toy manufacturer. To the audience it all makes sense as the movie progresses – think like a kid when selling stuff to kids. How revolutionary! Yet the audience also relates to the adults who pretend to know what kids like.
Posts, Supply Chain
Pushing the Boundaries of Your Value Discipline
In my last blog post, I mentioned the three forms of value in a commercial transaction: Technical, Organizational and Personal. This trilogy of values reminds me of one of my favorite books, The Discipline of Market Leaders by Michael Treacy and Fred Wieserma. The big message in this book is that no company can succeed by trying to be all things to all people.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain, Warehouse Management
Big Data – Synthesis
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.
Posts, Supply Chain
Is Your Supply Chain Evolving Into a Value Chain?
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.
Healthcare, Posts, Supply Chain
Supply Chain Visibility at Becker’s Annual Meeting
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.
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Big Data Implications
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.
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Big Data Analytics
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.
Analytics, Business Intelligence, Posts, Supply Chain, Warehouse Management
Big Data Demystified
With the advent of big data, organizations are beginning to recognize the impact that big data and analytics can have on their ability to compete in their respective industries. In a recent study by MIT and the SAS Institute, 67% of leading organizations firmly believe that analytics give them a competitive advantage. This recognition has revealed that it is not only about the volume, velocity and variety of the data at hand, but having the right culture, skillsets, and technologies in place, while respecting the privacy of consumers. This post will be the first of a four part series aimed at demystifying the term 'big data', and touching on opportunities, implications and challenges related to big data.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain
The Hierarchy of Healthcare Supply Chain Metrics
In my July post, I introduced the 'Hierarchy of Supply Chain Metrics', which is a framework of supply chain metrics conceived by Gartner, the world's leading information research and advisory company. The model provides 3 tiers of integrated metrics to assess, diagnose, and correct supply chain performance, and is a great example of what constititutes a supply chain scorecard.
Analytics, Business Intelligence, Posts, Supply Chain
Tecsys Analytics with WERC Benchmarks
It has been said that you can't manage what you can't measure. In the world of analytics, this is our daily mantra. However, as succinct as the statement may be, you can't help wondering if it is missing something — a little something called perspective.
Analytics, Business Intelligence, Posts, Supply Chain
The Hierarchy of Supply Chain Metrics
Since 2010, Gartner, the world's leading information technology research and advisory company, has been publishing an annual report entitled 'Gartner Supply Chain Top 25' which ranks organizations that demonstrate leadership in supply chain management. In each of these reports, the 'Hierarchy of Supply Chain Metrics' is positioned as the ideal set of metrics to measure supply chain operational performance. To emphasize Gartner's stance, the subtitle reads: 'The Metrics We Wish We Had'.
Healthcare, Posts, Supply Chain, Warehouse Management
“Business As Usual” is not the future of healthcare supply chain!
Isn’t this the most interesting time in US healthcare? Actually, in healthcare across the globe? Because no matter how your healthcare system is funded, the containment and management of supply chain costs is a constant business reality we are all facing. To that end, supply chain is finally coming into its own in the C-Suite of most organizations. We are realizing, as an industry, that what has worked in the past will no longer work in our emerging reality — on all sides of the business equation. Everyone has to participate in the change.
Analytics, Business Intelligence, Healthcare, Posts, Supply Chain
3 Stages of Hospital Supply Chain Management (SCM) Maturity
Having been involved in the development of a pan-Canadian Electronic Health Record, I have a keen interest in how healthcare benefits from standardized policies and technologies designed to reduce healthcare costs and improve patient outcomes and safety through improved synergies and efficiencies. My interest also extends to the hospital supply chain. With inventories representing 30% of hospital costs, second only to labor costs, there are huge gains in organizational performance that can be had through better supply chain management.
Healthcare, Posts, Supply Chain, Warehouse Management
Trends Are In the Air
Tecsys-Sponsored a Lunch & Learn program at the recent IDN Summit, “The Transformable Supply Chain” featuring Brent Johnson, Chief Procurement Officer, Intermountain Healthcare; Curtis Dudley, Vice President of Integrated Performance Solutions, Mercy; and Mike Wentling, Chief Solutions Officer, ROi. The discussion focused on the changes in the healthcare supply chain that have driven the development of consolidated service centers/supply chain centers.
Healthcare, Posts, Supply Chain
Reading to Think: Concepts in Healthcare Supply Chain Management
I would like to share some reading I have been doing that is providing a lot of food for thought. The first source is the book “Healthcare Will Not Reform Itself” by George Halvorson, CEO of Kaiser Permanente. What a compelling read! Mr. Halvorson walks us through many scenarios, while breaking things down to accessible portions.
