When and how to invest in supply chain management technology is a critical question for all firms that is not a one-time question, but ongoing...
Invest in Supply Chain Management Technology: Survival and Ability to Respond to Emerging Challenges
When and how to invest in supply chain management technology is a critical question for all firms that is not a one-time question but ongoing. This blog will observe the real business value is “survival and responsiveness” and elaborate on the challenges with this evaluation.
The right technology can provide a solution to maintaining optimal supply chain planning, but how can you justify the investment?
There are a number of data analysis “tools of the trade” that have proven effective in exploring data to get it to tell a story. One such method is the first-order difference (FOD). The purpose of this blog is to provide an overview of FOD with respect to profiling demand history.
Industry analysts, big-time consultants, and your peers are all talking about technology, digital transformation, and the future of the supply chain. It can seem like a lot of noise given the day-to-day pressure you feel while working to ensure that inventory is on hand and positioned where it is supposed to be. With all you have on your plate, are you aware of the signs that it is time for a change?
Learn the importance of advanced optimization for statistics (AOS) even for simple methods such as exponential smoothing and the importance of community intelligence.
In the simple version of supply chain management (SCM) the goal for demand forecasting in the tactical decision tier is prediction accuracy. In the wiser version, the purpose is expanded to include an understanding of your demand (demand profiling)...
The chatter about Artificial Intelligence’s (AI) and its recent companion, machine learning (ML) is ever-present. In a wide range of economic activities, AI/ML methods are now standard practice...
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’.