3 Key Decision Making Technology Enablers at Organizations

Forward-looking decision making in a business environment has always been about making rapid trade-offs in a highly constrained environment based on the available data in an organization. In this blog we explore how it will evolve in the future as well as 3 key technology enablers that needs to be adopted.

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How Enterprise Optimizer is Used to Calculate Opportunity Values

The single most important differentiator for River Logic is its proprietary ability to calculate Opportunity Values™. This is essential in the new economic science, known as Integrated Business Planning (IBP). 

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Seven Decision-Making Capabilities to Drive Supply Chain Excellence

The topic of supply chain excellence is extremely broad and spans a smorgasbord of topics associated with People, Process and Technology. However, if we focus on key decision-making capabilities that can help companies achieve supply chain excellence, we come up with the following seven areas. By mastering these capabilities, a company is almost guaranteed to succeed in the industry. In fact, supply chain decision making capabilities can result in 2-5% of revenue in bottom-line profit.

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Moving Beyond a Business Intelligence Approach to Support Timely Decision-Making

More than ever, supply chain functional or line of business teams have been frustrated by their increasing needs for broader and more-timely business intelligence (BI). The reasons are many and in increasing cases, very valid. But more than ever, teams should now be turning their attention towards leveraging processes and technology anchored in prescriptive analytics.

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Monte Carlo Optimization for Beginners

The Monte Carlo method is a well-known simulation technique that uses statistical random sampling to solve mathematical problems. In use for about 85 years, many variants exist across a wide range of disciplines. If you're not familiar with these, I suggest reading this Wiki page.

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5 Ways Optimization Enables Financial Maturity

Financial maturity starts by first understanding how your business has performed. In other words, can you produce a P&L, balance sheet and cash flow statements for the business? As the organization matures, the financial knowledge goes deeper.  Financial statements are produced faster and, more importantly, the organization starts to apply cost accounting principles to understand where it's making money (products, customers, regions, channels) and where it isn’t.

Even deeper knowledge is achieved as the organization begins to apply more complex analyses that look at marginal contribution, achieved by tagging variable, direct and indirect costs. You might be familiar with standard costing, activity-based costing and other approaches that attempt to provide additional information.

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What Is a Decision Support System & Why do I Need One?

First things first: what is a decision support system (also referred to as a DSS)? In short, it's a computer solution using decision logic and statistical data to help managers and operation planners overcome strategic deficiencies to implement streamlined, efficient solutions. DSS systems can be entirely optimized via computer, entirely human-powered or a hybrid of both.

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Still Using Excel for Optimization Modeling? Stop.

I love lazy Sunday afternoons, especially when it’s August in Texas, the Dallas Cowboys haven't kicked off the new season, and the weatherman insists I unwind on the couch and watch a little golf.

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Cost Allocation on Steroids

Over the last decade, cost allocation has become a big topic of conversation. More and more frequently, people are beginning to discuss the various types of cost allocation methodologies, the benefits of each type and the differences between them.

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Is Your Choice of Optimization Software a Long-term Risk?

 

Well-run organizations continually assess the risk associated with critical internal dependencies and external factors, like the condition of physical assets and security of facilities, as well as exchange rates, government policy, economic cycles, regulatory and environmental laws, etc. The list of serious risk factors that most businesses face can be quite long.

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Supply Chain Brief