The postponement strategy is based on the following two basic principles of demand forecasting. The accuracy of forecast demand decreases with an increase in the time horizon. The farther the time window for which the demand is being forecasted, the more inaccurate it will be. This effect can be shown as a funnel: as time extends farther […]
Archive | Operations & Supply Chain RSS feed for this section
Software is a necessity in all facets of business today, but people are needed to manage the software and ensure data integrity for accurate data output. People are your most important product. Use them to continuously improve your organization. Cross-Functional Teams are a good way to use multi-talented people to solve many kinds of problems […]
Lean Management has been an area of increasing interest for Flevy customers. As of now, we have over 300 documents related to various Lean concepts and Vishnu Rayapeddi contributed close to 100 of these documents–with a focus on training series. Vishnu is a pioneer of Lean Management, combining the power of Lean Thinking, Six Sigma, Balanced Scorecard, and other best-class […]
There are leading and lagging indicators in business. It is important that managers understand the difference between them and ensure they have both types of metrics to get an accurate picture of performance. However, there are also some important issues to watch out for. All performance measures are, by definition, backward looking. They tell us […]
Key performance indicators (KPIs) are measures of a company’s strengths and weaknesses of the business. They should be used in comparison to the external competition and internal customers to improve company’s economic standing. In Supply Chain, the warehouse is a critical function. Should products not move effortlessly within the warehouse, a business could come to face […]
As manufacturers are reaping the benefits of Lean and Lean Six Sigma or other continuous improvement processes within their facilities, the importance of eliminating waste still hold sway. So the question now facing these manufacturers is this: Has the time come where Just-in-Time (JIT) inventory levels need to be changed to Just-in-Case levels? With the […]
Here’s a little different tactic from the usual idea of reducing or eliminating wastes in a manufacturing process. How about gathering the waste from the other steps in a manufacturing process and using it to make a new product? Many manufacturing firms are at a loss as what to do with by-product waste. This idea […]
The supply chains of most companies, large and small, exploit a world of opportunities. But, increasing global exposure comes with an increasing range of risks. These companies’ complex networks of suppliers and customers are as diverse as the goods and resources they manage. Within the same supply chain, giant multinational companies can sit side-by side […]
Several training series have recently been published on Flevy on the management topics of Lean (Operational Excellence) and Organizational Excellence. These training series can be used for internal certification programs in organizations of all sizes. Lean Shop Floor Training Series – 8 Modules. This is a Lean training series for beginners. With this series, you can arm your […]
We recently had the opportunity to speak with the two co-founders of TheConsultantLounge.com, Laura Woodroof (picture on the right below) and Martina Segerer. TheConsultantLounge is an online and offline community for smart and passionate management consultants who were looking to expand their network and share their experiences across the broader consulting ecosystem. Both Laura and Martina are seasoned consultants with combined […]
This is a guide to navigating Flevy to find the documents and other resources you need related to Business Operations. “Operations” is a broad, vague term. It can convey a lot of different meanings to different people. If you don’t find what you are looking for in this article, please email us at [email protected] First, a very […]
Many of us have heard the old adage “What gets measured gets done.” Organisations are awash with KPIs–key performance indicators. Variously attributed to 19th Century UK Prime Minister Benjamin Disraeli and American author Mark Twain the oft-quoted phrase, “There are lies, damned lies and statistics,” reflects justified cynicism about the cult of measurement. The greatest […]
Popular Documents on Flevy
- 4 Effective Ways to Manage Resources More Efficiently
All workplaces are an integration of numerous departments working together as one to ensure the business runs smoothly. Almost every sector is reliant on o...
- 3 Powerful Frameworks for Analyzing the Competitive Landscape
It goes without saying that understanding the competitive landscape is crucial to identifying competitors and succeeding in the market. Consulting firms, ...
- 14 Principles of Lean Toyota Production System (TPS)
Editor's Note: Charles Intrieri is a consultant with over 25 years of experience in Operational Excellence, Supply Chain & Logistics, and Metrics-driven Ma...
- Industry Value Chain: Understand its Importance and Application to the Mining Industry
Editor's Note: Ganesh Rajagopalan is a seasoned management consultant and former investment banker. He is also a leading author on Flevy, having published...
- Eliminate Non-Value Added Activities in Your Organization
Recession or boom, companies need to sharpen their competitive edge by applying Lean Management principles to cost reduction—that is, the elimination of no...
- What Is Value Based Management (VBM)?
Value Based Management (VBM) is a management philosophy that states management should foremost consider the interests of shareholders in its business actio...
- The Complete Guide to Product Adoption: from Product Life Cycle to Customer Decision Journey
Product Adoption is a compelling and important topic. It affects every single business. There are numerous whitepapers, frameworks, and discussions foc...
- Business Continuity Planning
Business Continuity Planning (BCP), sometimes also called Business Continuity and Resiliency Planning (BCRP), helps a company continue operations under adv...
- 3 Business Opportunities in the Booming Electric Vehicle Market
Electric vehicles (EV) will make up the majority of new car sales worldwide by 2040, and account for 33% of all the light-duty vehicles on the road, accord...
- Continuous Improvement 101: The Deming Cycle (PDCA)
"Continuous Improvement" is a term management consulting firms love using. It's also a driving principle behind Lean Management. So, how can we achieve...