My first memory of inventory is from a conversation I had with my Dad when I was probably 10 years old. I remember him telling me to go to a particular store because the owner kept a lot of inventory on hand. He equated that to the owner being a wealthy man, who obviously knew
Key Points: Work hard on finding the ‘perfect’ metric that measures the behavior you are trying to improve. Look for both the cause and the effect. In the absence of such a metric, do not ignore the ones that are only partially good. Do not measure something just because the data is available.
Sales is a fast-paced business; people who aren’t focused on the here and now usually lose out on sales. As mentioned in Jelle’s blog, sales persons would rather be out in the field selling, which is the reason why they feel it would be a waste of their resources sitting in their office forecasting. Yet,
Recently, someone forwarded a Live Science web link to me. The web page had information on how human brains are able to read words and make sense of them even when the letters are jumbled up. The website suggested that it was possible for a human brain to make sense of the words as long
Last post, I talked about the different mindsets as one goes through the planning, scheduling and execution of a family’s vacation to Florida. My attempt was to try and highlight the differences between the three stages. In this post, I will try and pull those concepts into supply chain planning.
In the supply chain world, we often talk about planning, scheduling and execution. In this two part blog post, we will try and explain this from two points of view: One from real life and another from a supply chain perspective.
Recently, I was visiting with a prospect in Pennsylvania and they lamented on the effect of the ongoing port shutdowns on the west coast. He went on to say how they have heard of a threat for a shutdown for many years and everyone had become accustomed to it.
When businesses try to predict their future demand, they often begin with a mathematics based statistical forecast. Once this is established, some users are asked to provide overrides that can make this statistical forecast better. Typically, this is asked of users who have a client facing role.
Developing an accurate as possible forecast is very important in running a business. Demand planners spend countless hours trying to create a better forecast so that they can help their company be more efficient. A key ingredient in the creation of the final forecast is the forecast generated by a computer program, which is based in statistics. In this