Last week I wrote about the potential benefits in forecasting results based on removing outliers from one-time events. A key question that came up because of that post was this: How long does a change in demand as a result of an event (whether up or down) impact forecasts in the future? Rather than theorize
How does currency demonetization affect statistical forecasting? The Government of India recently enacted the policy to demonetize Rupees 500 and 1,000 banknotes. ( ₹500 and ₹1,000). All bank notes of these denominations ceased to be legal tender on November 9, 2016. A Google search on this will reap rich returns; here is an article on this topic on
Manufacturers, with interdependent global supply chains, are faced with the challenge of employing effective global risk management strategies that encompass a full view of both external and internal risk factors. Is your supply chain susceptible to the butterfly effect? Seemingly small (and unconnected) events can have large consequences. Scientists describe this as the butterfly effect.
Sometimes when we make a mistake it's hard not to dwell over it and relive the incident over and over in our minds. Reflection on a past mistake and help us avoid or learn from this mistake in the future, but how do we not turn this reflection into an obsession?
I attended the Gartner conference in Phoenix and heard from many speakers and analysts. The key theme at the conference was that of a bimodal supply chain. For those who did not attend, this phrase might not mean much. In this post, I will try to explain this phrase.
In today’s business world, technology plays a central role in how work gets done. So, a change in the nature of work is sure to follow. But what exactly has changed?
In my recent post on going places, I put forward some of my thoughts on how a young college graduate should approach their career. Here is a different take on the same topic. Let me indulge the civil engineer in me (or what is left of what I learnt in my college days). Let us think
Sujit offers some advice for recently graduated college students to help them succeed in the world of not only Supply Chain, but any business and life venture.
Last week I wrote about my mistake of not paying enough attention to the math behind Return on Investment (ROI). I got a few comments from readers that made me think of elaborating from a Supply Chain planner’s point of view for why everyone in the supply chain should learn the ROI math.
One of the biggest mistakes a supply chain planner can do is have an aversion to learning the math behind ROI (Return on Investment) that can come from working on a business’s supply chain plans.