My posts get a few thousand views every week. 90% of viewers don’t need any tool for Inventory management.7% need it, but not now.Only 3% need to have a tool for inventory AND they need it NOW. Which bucket do you belong to? Use this self-administered test to find out Read more…
“Everything should be made as simple as possible, but not simpler.” Chandrayaan has made us all so proud!Thank you to all our scientists, ISRO and all those who worked behind the scenes. https://lnkd.in/ghsaYF-w Keep It Simple! It’s like using the power of simplicity in our diverse and colourful country. Imagine Read more…
1. Use KPIs alongside human intuition.This enables optimal decision-making. Where hypotheses are continually tested through a feedback loop of intuition and data. 2. KPIs need refinement over time.As well as continual reflection on their reliability and relevance. 3. Combine KPIs with intuition.Focus on the actual objectives rather than just defining Read more…
The impact of stockouts on– customer loyalty, and– future demandare more significant than immediate revenue loss. Quantify the long-term consequences to understand their true cost. Account for stockouts’ long-term effects. Accounting for Stockouts’ Long-Term Effects It’s like looking ahead and understanding how it affects us in the long run! Imagine Read more…
People believe that you should ignore outliers. But, that may not be the best thing to do in planning. Outliers in historical data tell us about potential shifts in demand patterns. Or emerging trends. Investigate them and consider their impact on future forecasts. Don’t ignore outliers. Don’t Ignore Outliers! It’s like Read more…
The electronics industry often faces uncertain demand due to rapidly evolving technology and consumer preferences. A flexible supply chain is crucial to accommodate changes in product specifications, adjust production volumes, and switch suppliers when needed. Don’t lock in orders, you should react to market signals. Invest in Supply Chain Flexibility Read more…
On India’s Independence Day, test counterintuitive strategies. Try new strategies.In specific store locations or product categories. Surprising insights can emerge.And you can discover untapped opportunities. https://lnkd.in/gkdMP9Ny Test Counterintuitive Strategies: Imagine you have a favourite game you always play with your friends. You know all the rules, but one day, you Read more…
Customer feedback is not enough. Relying solely on customer feedback can be misleading. Customers might not always know what they want or may express inconsistent preferences. Combine feedback with behavioural data for a more accurate picture. https://lnkd.in/gJ5hEHxg Customer Feedback: Super important, BUT not enough all by itself! Imagine you’re making Read more…
Bring in experts from outside your industry to provide fresh perspectives. They can offer valuable insights & strategies from other sectors.That may not be obvious to your team. Include external expertise. https://lnkd.in/gMJa-iBs Include External Expertise Good businesses want to make their products or plans even better. So they bring in Read more…
Most planners avoid uncertainty. My advice: Embrace uncertainty. Instead of striving for perfect predictions, accept that uncertainty is inevitable. Use models that offer a range of potential outcomes rather than one fixed number.#planning #embraceuncertainty #youneverknowhttps://lnkd.in/g5azuxMx “Embracing Uncertainty” – a cool idea that can help us in many ways! 🤔 When Read more…