Auto parts supplier ADVICS Manufacturing Ohio Inc. of Lebanon plans to invest $100m in a building expansion and new equipment, the company's single largest investment in its 25-year history in Warren County, company officials tell this newspaper.
Data from sources like social media, along with powerful analytic software, are giving companies insights into customer buying habits that never before were possible, says Raj Devarajan of Symphony Analytics. He discusses this and other implications that big data holds for supply chain management.
The way most companies evaluate forecasting performance tells them the magnitude of their error, but does little to identify causes of the error or potential for improvement, says Michael Gilliland of SAS. Gilliland explains how the addition of a few simple analytic tools can provide fuller and more useful evaluations.
Widespread market volatility since the economic crisis of 2008 means that traditional forecasting methods are insufficient, says Charles Chase of SAS. Fortunately, advanced technologies for collecting and analyzing vast amounts of real-time data are giving companies new ways to sense and even shape demand.
Providing medical implants for upper-body surgeries is a critical, time-sensitive business. Raymond Allen of Biomet Microfixations explains how his company forecasts and manages demand so as to never disappoint the patient.
Ninety-three percent of companies canvassed said the fuel surcharge (FSC) is the most common accessorial published by shippers, with the vast majority utilizing a cents-per-mile-based schedule versus a percentage-based fuel method.