The 2021 NBA playoffs have been very eventful with many favoured teams getting upset. During this tumultuous post season, I thought I’d take the time to explain how supply management and basketball can involve much of the same strategizing and planning, especially when it comes to analytics and the management side of basketball. Revolutionized Through […]
Procurement is the process through which businesses proactively source goods and/or services to meet company needs. Companies hire procurement managers and professionals to not only find suppliers to source goods at reasonable terms but to maintain supplier relationships and ensure that suppliers are performing up to par. Ultimately, procurement managers act as the primary mediator […]
Demand Planning is the act of projecting consumer demand so that a company can make sure to have sufficient inventory to meet it. The goal in demand planning is to ultimately find a balance between a company’s supply and its demand to find an equilibrium. Using a performance management platform, a company can try to […]
When planners look for supply chain solutions for the supply chain management needs of their companies, they can’t discount the importance of cloud-based systems. Cloud based solutions are those that store data through the internet so that users can access it freely at any time and any place. Since cloud computing is an innovation that […]
This past year has brought supply chains into the news more than ever before. With issues regarding the chip crisis, shipping containers, scarce raw materials, it seems all areas of the supply chain are affected. Some of these issues are beyond our control. This week, we wanted to evaluate the importance of suppliers and our […]
Supply chain key performance indicators and metrics are ways in which someone can quantify the performance of their company’s supply chain to gain a better understanding of its strengths and weaknesses. In sports and athletics, simply observing athletes perform can tell us if they’re good enough, but we use statistics to measure their performance. Players […]
This week, we sat down with supply chain veteran Carol Valentine Fleck. With over 27 years of experience in the world of supply chain, primarily in the manufacturing sector, she’s worked for a few different industries: telecommunications, healthcare, and glass packaging. Her career journey has allowed her opportunities to work internationally in The United States, […]
Cosmetics is a half-trillion dollar industry that is continuing to expand. The cosmetics industry is growing among young people, especially due to increased marketing promotions and paid influencer campaigns on social media, and the recent trend towards focusing on self-care. As with any industry, an efficient and transparent supply chain is necessary in order to […]
In recent years, supply chain disruptions have ramped up largely because of the pandemic, but also because of other economic and political factors. When supply chain disruptions occur, it can cause businesses to lose substantial amounts of money and can damage their reputation if goods aren’t able to arrive to customers on time. Over the […]
Companies use a variety of methods and metrics to track and assess the health of their forecasting capabilities. Two of the most widely used, and most informative metrics are Forecast Accuracy (FA) and Forecast Bias. Using these two metrics, a company can identify trends in forecast performance, conduct root cause analysis to determine drivers of […]
