Henry Ford faced a business dilemma in 1914. Public opinion was that he was eccentric, crazy, an outsider. The cost of his Model T was around $500, but the per-capita income in the United States was only $354 in 1913. Additionally, factory workers were very nomadic, travelling from factory to factory to obtain higher wages. […]
Episode I:Raw materials lead time and the “workaround” economy Companies, both large and small, invest in software programs to automate, simplify, and facilitate standard practices within their supply chains. Successful implementations require extra focus on ‘scrubbing’ the data used to set the initial system parameters because, as we all know, “garbage in equals garbage out.” […]
I like telling stories; sharing real-life examples that help us illustrate and comprehend ideas and concepts that may otherwise sound too theoretical. Today’s story is about a well-known, iconic consumer packaged goods brand in Canada…Robin Hood Flour. For those not familiar with it, the Robin Hood brand name has been around since 1909. The flour, […]
Within a workplace, understanding the value and importance of performance management is key for a company to meet its business objectives and goals. Managers who understand what performance management is and how they can effectively implement it possess a competitive advantage. This is because effective performance management helps businesses ensure that they are getting the […]
In recent years, supply chain technology has evolved immensely from tools such as ERP software to self service business intelligence tools, advanced planning software and more. There are many options available for keeping track of supply chain performance. Despite the advancements in technology, the most commonly used tool for supply chain performance are still excel […]
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 […]
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 […]
To define logistics requires you to understand that it is really only one integral part of supply chain management. Logistics is the process of transporting goods through each stage of the supply chain into the hands of the customer. However, logistics management is not as simple as scheduling trucks to pick up and deliver goods […]
Inventory Management is the process through which inventory is maintained in order to meet the demand of a company’s goods. A great inventory management system will tell a company exactly how many items they have on hand so that they can prevent shortages or surpluses, both of which can incur costs. Shortages will cause delays […]
