You purchased high levels of inventory to cover long lead times of overseas shipments and to leverage quantity discounts. You wanted to provide your customers with high service levels by always having their parts in-stock… and then it happened.Read More
Numerical Insights publishes articles on a variety of topics including business analytics, data analysis, data visualizations tools, improving business results, supply chain analytics, HR Analytics, strategic workforce planning, and improving the profit. Browse our articles below or use the category buttons to quickly filter into a topic.
A change of the calendar is always a time when supply management professionals think about challenges in the coming year. However, if recent history is a guide, there won’t be much debate on the biggest challenge for procurement in 2019. Throughout the decade, surveys and studies have identified demand variability as the biggest impediment to supply management success.Read More
In the analytics world, there are teams that are “stuck.” This article is to help those teams get “un-stuck.” Perhaps you headed down the path of analytics without a plan. Perhaps you had a plan but the ever-changing data privacy regulations halted that plan. It’s time to refocus so you can begin to move forward once again.Read More
Every company that carries inventory wants to have enough to be able to fill customers’ orders but have a minimum amount of cash tied up on the shelf. Unfortunately, one half of that statement wants you to stock more items and the other half wants you to stock less items. You need… just the right amount.Read More
With all of our technology, big data storage choices, apps, data visualization tools and statistical packages, visibility and transparency remain a challenge for procurement teams. To make clear the difference between the two, when I speak of visibility, I am referencing the ability for procurement professionals to access and analyze their own internal procurement data. When I speak of transparency, I am referencing the exposure of procurement information to the public.Read More
This list is provided to help you get started in analytics. Examples are from HR-People Analytics, Supply Chain Analytics, Legal, Marketing and general Business Analytics. If you’re only interested in one of these areas, I have identified in each example, the business areas to which the idea applies. You can use that to skip quickly through the list.Read More
To solve your inventory challenges, you went ahead and purchased an inventory management system. The software vendor demonstrated great capabilities to you and you thought your problems were behind you.
You took the time to add all of your part numbers to the system, your list of suppliers and their contracted lead times. The inventory system went live, your employees were all trained in how to use it, but in the end, you’re still experiencing unexpected stock-outs, displeased customers and frustrated customer service reps. Clearly, your new inventory software doesn’t work, right?Read More