The promise of demand sensing is that we can do a better job of anticipating and planning for short-term changes in demand. For today’s supply chain planner, the art and especially the science of forecasting demand have evolved. True, the past is still the best predictor of the future, but consider how that axiom can and does come to life in the real world. Here’s one …
2018
Supply Chain Wars: Episode IV – A New Hope
Ok, I will admit it, I am a Star Wars fanatic. I have seen all the movies at least three or four times and some of the older ones dozens of times. I have been at the theater for opening night for many of these epic movies including Episode IV: A New Hope in May of 1977 (yes, I am that old). I have also read 100s of Star Wars books from a multitude of authors. I guess it was …
From “Rules of Thumb” to Non-Linear Algorithmic Optimization
Back in the mid 1990’s when I first entered the Supply Chain field as a freshly minted MBA from the Eli Broad Graduate School of Management at Michigan State University, I was full of “state of the art” knowledge from visionary teachers like Don Bowersox, David Closs, Steven Melnyk and others. I was excited to start my career and apply my knowledge to improve supply chain …
My Video Call with Santa Claus
Update on the Christmas Express Supply Chain Around this time last year I had a call with the jolly old man of the north to talk over some ideas on how he and his army of elves might improve the Christmas Express Supply Chain (CESC). (Read A Phone Call with Santa Claus) Our conversation must have had an impact because this year Santa sent me an invite for a video call to …
Common Forecasting Myths Debunked – Part 3 – How Much History is Enough History?
If you were to take a guess, how many years of sales history do you think you need to create a forecast? Five years? Ten years? The answer may surprise you. Myth #3: You need several years of data to create a forecast. For most levels of management within an organization, aggregated demand history acts as a baseline for effectively product demand and is a great predictor …
5 Steps to Building a Champion Retailer
The art of retail is to delight and serve a specific consumer demographic. Managing a successful retail business is combining this art with the science of excellent business strategies and objectives. Want to merge the art and science of retail planning to compete in this marketplace? The following 5 steps will help you become more agile and responsive to fast-changing …
This is Not Your Father’s Inventory Optimization
If you are near to my age it is a good chance that your parents or maybe even you owned an Oldsmobile at some point. While growing up, my parents owned several Oldsmobile. The Oldsmobile was considered a reasonable priced family car with some luxury features and positioned between the Chevrolet and Buick brands of General Motors. In the mid to late 80s Oldsmobile started to see …
Halloween Candy – A Scary Supply Chain Planning Problem
I admit, I love to eat Halloween candy as much as most grade school children (maybe more). My favorite: candy corn of course! What’s not to like about candy that is sugar mixed with more sugar! I am not the only one with a sweet tooth, according to CandyStore.com, this year Americans will spend more than $2.6B on trick-or-treat candy. I have to believe dentists see this …
The Influence of Social Sentiment on Supply Chain Planning
Social media sites like Twitter, Facebook, Google+, LinkedIn and YouTube dominate the way people share information and communicate today. Considering just how influential these sites can be, it is amazing to think most weren’t introduced until the mid-2000’s. In fact, the first social networking website, SixDegrees, which let people make profiles and connect with friends, …
Wholesale Distribution: Any Way You Want It?
I have an affinity to rock & roll music released from the late 70s through the early 90s. The groups on my most listened to playlists include Boston, REO, Rush, Kansas, Styx, Van Halen, Eagles, Foreigner and The Police, just to name a few. I find it interesting that even though many of these groups haven’t released an album in decades, there are stations dedicated to …
