Innovation is a term we hear often, especially in the world of software development. But what does it mean? What should it mean? I looked up the word innovation and found something odd. I found the word novelty next to innovation. With the pace of change today I believe many people are confusing the next shiny object or fad (novelty) with innovation. Instead we should focus on innovation that drives differentiation. In terms of the supply chain, innovation can drive rapid product development and build a competitive edge.
Interest in inventory optimization continues to increase as companies seek a more efficient way to reduce excess inventory while maintaining or improving customer service levels. Multi-echelon inventory optimization (MEIO) is also playing a larger role in the sales and operations planning process (S&OP). Recently I sat down with Sean Willems, Ph.D., associate professor of Operations Management at Boston University's School of Management and Chief Scientist at Logility, to get his thoughts on inventory optimization misperceptions, S&OP, and centralized vs. decentralized initiatives.
As an alternative to playing the discount game and further eroding margins, many retailers have found tremendous success with private label products. By offering innovative goods at a reasonable cost, retailers have successfully distinguished their brands and helped engender consumer loyalty. This is a sound strategy, but it can easily backfire if the supply chain infrastructure is not in place to support it.
In case you missed it, I recently spoke with Aberdeen Group’s Nari Viswanathan about the change in S&OP strategy. Here is some of what we discussed. Best-in-class companies clearly differentiate themselves through the use of S&OP The strategic shift is not only in response to the economic upheaval of the last 24+ months but also [...][..]
Inventory optimization (IO) has become an increasingly important topic of late as companies try to balance inventory (amount, location, etc.) with erratic demand and supply variability. Following the inventory slashing practices during the global financial crisis, many were left unable to respond quickly and cost-effectively to a rise in demand, leaving these companies at a[..]
Inventory Optimization (IO) is a loosely used term in the industry. You’ll see it used to describe tactical inventory management, warehouse operations and strategic network assessments as well as used to describe single stage as well as multi-echelon environments. Inventory optimization is so much more and impacts the supply chain at all levels. Recently[..]