Working Capital seems easy enough to understand. Divide a company’s current assets by its current liabilities and you get a ratio that helps you determine how easily a company could cover its short term debt. This is generally referred to as how liquid a company is. However, this doesn’t always paint a clear picture.Read More
As we well know, there are risks inherent in almost every major business decision. Even if decision-makers opt out of an opportunity because it seems too risky, that decision in itself can still be hazardous. Being too timid could lead to things like new markets not being pursued, new products not being developed or allowing competitors to gain the advantage. Therefore, it's crucial to have a detailed, data-backed strategy in place to measure and reduce risk.Read More
In the press, a great deal of attention is given to the concept of using drones to deliver parcels direct to people's homes as well as the use of autonomous delivery vehicles on the road. As exciting as these concepts are, a lot more work is needed before they are mature enough for large-scale implementation.Read More
Effective communication is a vital component to successful supply chain management, yet an alarming amount of businesses have no official communication plan in place to guide their employees. On top of this, supply chain managers are rarely trained in communications and end up taking a very laissez faire attitude towards the entire process.
To understand why this is a problem, stop and consider the effects of bad communication. The number one result is decreased efficiency through wasted time, money and resources. Other effects include decreased worker morale, public relation problems and missed opportunities for innovation, among other things.Read More
This is the second post in a series on supply chain sustainability. In the first post, “Why Is Supply Chain Sustainability Becoming a Crucial Part of Manufacturing?” the general concepts that constitute supply chain sustainability were discussed.Read More
This post is the third in a series dealing with supply chain sustainability. The first post, “Why Is Supply Chain Sustainability Becoming a Crucial Part of Manufacturing?” highlighted the four pillars of sustainability. The second discussed the benefits of traceability to maintaining or developing a sustainable supply chain.Read More
Although the movie Field of Dreams makes for a great way to spend an evening, the lesson “if you build it, they will come” is about as far from “good advice” as you can get in the world of corporate decision-making. More and more, business leaders are realizing that simply building or purchasing a “big data” system does not automatically result in valuable, data-driven-business outcomes.Read More
Are you up to date with how predictive analytics and machine learning could help your business?
There are an increasing number of use cases coming to light from small, forward-thinking and innovative businesses right through to large corporations. Wherever you sit on the scale, we’re certain there are ways your business can benefit from predictive analysis and machine learning.Read More
An organization’s ability to align supply and demand is one of the most important measures on profitability. In a perfect world, demand would always meet the supply and supply would always meet the demand. Unfortunately, there are constant fluctuations in the demand and supply dynamics.Read More
Anyone in Manufacturing is almost certainly familiar with the daily struggle of simulating the real world using a hypothesis (e.g. rules)-based technology to evaluate the impact of decisions before they are made. In the case of capacity planning and production allocation, this entails manually defining rules that determine capacity and requirements while allocating production to different lines while ensuring the plans remain feasible. This is a very complex problem with more than a million possible answers, causing talented employees (that would otherwise bring more value to the company) to spend countless and frustrating hours manipulating complex trade-offs around assets, throughput, finished or near-finished goods inventory, investments, etc.Read More