You've seen it in movies, and possibly in real life as well. A desperate gambler, down to his last chance, stakes everything he has on one play. And while the scene makes for great drama, it rarely goes well. The lesson: never bet the store.
Dr. Chaman L. Jain, professor of economics in the Tobin College of Business at St. John's University, talks about how the demand-planning function has changed in his decades of observing global supply chains.
Automobile manufacturer Volkswagen Slovakia is tracking its assembled vehicles as they undergo final servicing and inspection processes at its plant in Bratislava, using a real-time location system (RTLS).
Too many companies are still plagued by a "siloed" mentality which keeps various functions from collaborating fully on demand planning. But Arnold Mark Wells, principal of End-to-End Analytics, sees reason for hope.
The maker of sophisticated medical equipment had reached a "plateau" in its efforts to boost customer service and optimize costly inventory within its global operation. Then it found a way to climb higher.