Many organizations today are implementing various continuous improvement techniques to manufacturing areas to reduce cost and waste as well as decreasing cycle time. There is value to apply these techniques to business processes to improve the effectiveness of the process. Sales and Operations Planning (S&OP) is a critical business process and therefore is a... »
As we ease out of crisis mode and plan for more stable waters, we find ourselves asking how can we take advantage of the upturn, and what will it take to do so? Going back to my undergraduate days of pursuing my degree in Education makes me think of the structure of a lesson... »
Developing accurate forecasts is never easy. The current economic environment makes it even more challenging and many businesses have a bias to over forecast. At the same time, businesses need the most accurate volume forecast possible to enable effective planning and decision making. It is important to understand that this is a business issue,... »
Many firms have no strategy for dealing with unforecastables and some even pretend that all items are statistically forecastable. Statistical tests need to be used to identify those articles which cannot be forecasted with conventional techniques, such as intermittent demand and demand with high variances. For example, low volume and erratic demand may indicate... »