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7 Steps: How to Reduce Costs Through Supply Chain Network Optimization
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#SupplyChainOptimization, #SupplyChainNetworkDesign, #SupplyChainNetworkOptimization, #SupplyChainAnalyticsSoftware
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Selecting the Best S&OP Software: 7 Tips for Success
The disruptive impact of COVID-19 has put new emphasis on the importance of integrated sales and operational planning (S&OP) software for managing supply chains. This well-established technique helps supply chain management focus on crucial ...(Read More)
#S&op, #DemandPlanning, #SalesAndOperationsPlanning, #SupplyChainPlanning, #SupplyChainSoftware
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Understanding Supply Chain Resilience & What COVID-19 Taught Us About It
While the U.S. economy is showing signs of a slow recovery with private employers adding around 428,000 jobs in August, the impact of COVID-19 on national supply chains will be felt for a long time.(Read More)
#Sustainability, #SupplyChainOptimization, #Covid-19, #SupplyChainResilience, #SupplyChainAgility
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Supply Chain Resilience vs. Flexibility, Sustainability, & More
COVID-19 has demonstrated the need for supply chain resilience; the ability to bounce back and adapt to disruptive change. But is resilience the only or primary requirement, or are there other factors to consider such as flexibility, sustainability, ...(Read More)
#Sustainability, #SupplyChainOptimization, #SupplyChainAnalytics, #SupplyChainResilience, #SupplyChainAgility
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Supply Chain Cost Optimization: You'll Fail If You Don't Do It Right
Supply chain costs account for a significant percentage of final product cost. Apart from actual raw material costs, logistics can account for anything between 5% and 50% of total product cost, depending on where products are sourced, their value ...(Read More)
#SupplyChainOptimization, #SupplyChainAnalytics, #SupplyChainPlanning, #CostOptimization
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A New Trend Has Emerged in Supply Chain: Creating Immersive Experiences
Virtual reality (VR) and associated technologies such as augmented reality (AR) and mixed reality (MR) are slowly moving into the mainstream. For a long time, interest in this technology was mainly focused on gaming experiences, but as it has ...(Read More)
#SupplyChainAnalytics, #SupplyChainExecution, #VirtualReality, #ArtificialIntelligence, #MixedRealityExperience
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What Is the Difference Between Optimization Modeling and Simulation?
Engineers have used models for decades to help them understand processes and determine optimal solutions. Sometimes models are created so designers discover answers to specific design problems, and in other circumstances, they’re used to simulate ...(Read More)
#Optimization, #ModelingSoftware, #OptimizationModeling, #Simulation, #SupplyChainSimulation
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Supply Chain Simulation: What You Need to Know in 2020 & Beyond
The idea of simulating a process in order to understand how it works goes back many centuries. However, it was only with the development of advanced programming languages that it really became practical to simulate something as complex as a supply ...(Read More)
#Optimization, #SupplyChain, #SupplyChainOptimization, #SupplyChainModeling, #Simulation, #SupplyChainSimulation
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Could A Second Wave of COVID-19 Ruin Manufacturing for Good?
While everyone is heaving a sigh of relief now that the COVID-19 pandemic seems to be more under control, many experts are warning that a second wave is likely. At this stage, it's not clear if these fears will materialize, or even how severe a ...(Read More)
#SupplyChainManagement, #SupplyChain, #SupplyChainOptimization, #Covid-19, #SupplyChainRisk
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The Five Biggest Supply Chain Challenges of 2020
COVID-19 continues to disrupt world economies, even in countries that have the pandemic under control. Additionally, despite pressure to get the economy back up and running, ongoing uncertainties, lack of consumer confidence and supply chain ...(Read More)
#SupplyChainManagement, #SupplyChain, #SupplyChainOptimization, #Covid-19, #SupplyChainRisk
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Coronavirus and Supply Chain Leaders: 9 Must-Know Threats
Coronavirus COVID-19 is a fast-spreading illness caused by the SARS-CoV-2 virus. The flu-like illness causes coughing, fever and shortness of breath and, in some cases, potentially deadly pneumonia. People in poor health and the elderly seem to be ...(Read More)
#RiskManagement, #SupplyChainOptimization, #SupplyChainPlanning
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Online Consumer Shopping Trends and Supply Chain Technology
Online sales for consumer packaged goods (CPG) have been growing at a fast pace. For those not entirely sure about CPG, this market segment includes packaged personal and household products such as food, beverages, cosmetics, cleaning and reading ...(Read More)
#SupplyChainManagement, #SupplyChain, #SupplyChainOptimization, #Cpg, #ConsumerPackagedGoods, #SupplyChainPlanning
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Prescriptive Analytics Software: Here’s What You Need to Know
The term prescriptive analytics was coined by IBM in 2010 with the launch of their ILOG CPLEX Optimization Studio, one of the earlier solver programs on the market. While early efforts at this form of analytics were limited by the need to hardcode ...(Read More)
#PrescriptiveAnalytics, #Optimization, #OptimizationSoftware, #ModelingSoftware, #PrescriptiveAnalyticsSoftware
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What to Know About Capacity Planning In The New Era Of Digital
Everyone knows about capacity planning, or at least the majority of business owners believe they do. The problem is that conventional approaches to planning capacity are no longer adequate. Market volatility, increased competition and rapidly ...(Read More)
#Manufacturing, #CapacityPlanning, #SupplyPlanning, #SupplyChainOptimization, #RoughCutCapacityPlanning, #Planning
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Top 11 Supply Chain Trends You Need to Know in 2020
2019 has come and gone, and it's time to look at the latest supply chain trends for 2020. Many exciting things are happening as supply chain executives respond to changes arising from the availability of Big Data, supply chain digitization and ...(Read More)
#SupplyChain, #SupplyChainExcellence, #SupplyChainOptimization, #SupplyChainAnalytics, #SupplyChainPlanning
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How to Select the Best Supply Chain Optimization Software
Effective supply chain management is crucial for successful businesses. Without it, companies are unable to control input costs nor are they able to guarantee reliable delivery of goods and services. Not only is it important to have reliable supply ...(Read More)
#SupplyChainManagement, #SupplyChain, #TradePromotionOptimization, #SupplyChainOptimization, #ModelingSoftware
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6 Big Myths You Need to Know about Prescriptive Analytics
Today, a little more than 10% of mid- to large-size companies are using prescriptive analytics to gain a competitive edge, drive efficiency, reduce costs, and increase profit-driving opportunities. Although the number of businesses that use ...(Read More)
#PrescriptiveAnalytics, #AdvancedAnalytics, #PredictiveAnalytics, #CitizenDataScientist, #Digitization, #SupplyPlanning, #Cpg
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10 Prescriptive Analytics Examples for the Food and Beverage Industry
Are you wondering why the number of businesses using prescriptive analytics will triple within the next several years? Corporations are ramping up the use of this advanced analytics subset for a good reason. With the ability to compute and leverage ...(Read More)
#PrescriptiveAnalytics, #DemandPlanning, #CapacityPlanning, #Cpg, #FoodAndBeverage, #ConsumerPackagedGoods
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What is Integrated Business Planning and Why is It Crucial in 2020?
What is Integrated Business Planning (IBP)? Integrated Business Planning (IBP) is an expanded form of Sales and Operations Planning (S&OP) that spans the end-to-end value chain of a business, and ties strategic, profitability-related objectives ...(Read More)
#IntegratedBusinessPlanning, #FinancialPlanning, #DemandOptimization, #DemandPlanning, #SupplyPlanning, #DemandShaping, #SupplyChainOptimization
Optimization EO Users

A Code Free Approach to Stochastic Programming

This is the second of a two-part series on stochastic optimization, defined in Wikipedia as “optimization methods that generate and use random variables. For stochastic problems, the random variables appear in the formulation of the optimization problem ...

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