Using Profit based Product Segmentation for Planning
Here's how you can use profit based product segmentation to improve the supply chain planning process.
A 6-Step Guide to Improving Your Statistical Forecast Technique
Statistical forecasts are often used as the baseline forecast for demand planning. Due to this reason, statistical forecast accuracy is critical to improving the entire demand planning process. Use this easy step by step statistical forecast technique guide to help you get started with improving your forecasts.
How do you model inventory in planning systems?
Wondering how inventory is modeled in supply chain planning systems? Here's what you need to know.
The ‘Secret Sauce’ to Improving Demand Planning
How do you get the sense of what works for demand planning? Market volatilities including changes in the weather can affect any business at any given time. As such, businesses cannot rely on their history alone without considering the full picture of possible market changes. When these changes occur, businesses should be ready to adapt without causing a disruption in existing business processes. So how to do you get to the point where you get a sense of what works when it comes to demand planning?
A New Year Resolution for Supply Chain Planners: Stop Firefighting
2017 Supply chain productivity and prioritization tips for supply chain planners. Every morning, a supply chain planner must make this decision; “what should I work on today?” In a supply chain of any reasonable complexity, this question can easily be answered with the corresponding fire of the day. On any given day, a supply chain
[Simulation Results] How Does a Change in Demand From a One-Time Event Impact Future Forecast?
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
The Effect of Currency Demonetization on Statistical Forecasting
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
Global Supply Chain Management: Is Your Supply Chain Susceptible to The Butterfly Effect?
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.
Good Advice: Don’t dwell in the past
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?
Do You Have a Bimodal Supply Chain?
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.