Inventory comes in many forms and flavors; it is the critical element of supply chains that enable a firm to respond quickly and take advantage of scale. However, managing inventory is one of the most...
Inventory management (IM) is a critical component of any successful organization where the mechanics of measuring and monitoring inventory involve KPIs, dashboards, and data science...
As previously discussed, being only data-driven can be a road to disaster for COVID-19 or supply chain management. To avoid this disaster requires skill sets from operations management (OM). In this blog we demonstrate that the probability a person actually has COVID-19 antibodies depends heavily on other factors besides the “raw data” of the test results.
Lessons From the Operating Curve for the Dual Government COVID19 Objectives: Reopen the Economy and Eliminate COVID19
There is plenty of material being written and posted on the challenges, estimating the growth in COVID19 incidences, and thoughts about the economy. The purpose of this is to pull from experiences in the trenches in shifting OPCURVE to provide some guidance on actions to take to help the nation achieve both critical goals.
An ongoing challenge for any firm is estimating demand for new products. This is especially true when the product has new technology or is replacing an existing product and the additional function in the new product is limited. Often a mathematical constructed called an S curve is helpful. This blog provides an overview of S curves and why they can be helpful.
Taking the mystery out of the rapid growth of COVID-19 and the purpose of social distancing – some basics for Octogenarians
The spread of the COVID19 virus is a major concern of everyone. Typically, two critical questions are being asked: why it seemed to grow so quickly over the last few weeks and what is the impact of social distancing. This blog provides a kitchen table explanation of “rapid growth” and how social distancing might dampen growth.
Probabilities are persuasive in supply chains and analytic methods – especially in machine learning where conditional probability is a dominant underlying structure that makes or breaks the success of an application. In this blog, we will learn how to take the mystery out of the term ‘conditional probability’.
In this blog, you will learn some basic guidelines to determine if the data is quantitative or qualitative with a focus on...