How do you plan optimal inventory levels and purchase quantities for thousands of items, when demand is intermittent, constantly changing, or affected by unexpected events? Random, sporadic demand is the worst case scenario for planning and procurement, and leads to excess inventory levels, and costly stock outs.<\/p>\n
Greg Hartunian, CEO of Smart Software, will discuss traditional inventory planning and forecasting approaches, present practical examples of how they can fail, and share how probabilistic modeling methods can make a big difference to your bottom line. Learn how to reduce stock outs and inventory costs, by leveraging data driven decisions that identify the financial trade-offs associated with changes in demand, lead times, service level targets, and costs.<\/p>\n
<\/p>\n
With so much data available, it can be hard for supply management organizations to determine trends in the data and respond. \u00a0But the purpose of gathering the data is to resolve issues or take strategic measures.<\/p>\n
When compiling data, procurement professionals need to ask: \u2018That\u2019s an interesting chart or report, but what are we supposed to do with it?\u2019 \u00a0That\u2019s where you take the step from analytics to business intelligence. \u00a0It\u2019s not just, \u2018That\u2019s interesting information.\u2019 \u00a0It\u2019s, \u2018As a result of this information, this is the action we\u2019re going to take.\u2019 \u00a0Or, \u2018We\u2019ve identified the problem, and here is how we\u2019re going to resolve it.\u2019<\/p>\n
We’ll learn if a data report does not to spur action, it\u2019s useless<\/em>. \u00a0Every report has to trigger action. \u00a0It can\u2019t just be analytics, for the sake of knowing what the numbers are. \u00a0The numbers have to have a result<\/em> and an action<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":" 1st Luncheon Keynote Address: Planning for the “Un-Plannable” (Greg Hartunian) How do you plan optimal inventory levels and purchase quantities for thousands of items, when demand is intermittent, constantly changing, or affected by unexpected events? Random, sporadic demand is the…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"eventcat":[],"organizer":[],"event_tags":[],"location":[],"class_list":["post-2189","event","type-event","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/event\/2189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/event"}],"about":[{"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/types\/event"}],"author":[{"embeddable":true,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/comments?post=2189"}],"version-history":[{"count":5,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/event\/2189\/revisions"}],"predecessor-version":[{"id":2629,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/event\/2189\/revisions\/2629"}],"wp:attachment":[{"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/media?parent=2189"}],"wp:term":[{"taxonomy":"eventcat","embeddable":true,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/eventcat?post=2189"},{"taxonomy":"organizer","embeddable":true,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/organizer?post=2189"},{"taxonomy":"event_tags","embeddable":true,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/event_tags?post=2189"},{"taxonomy":"location","embeddable":true,"href":"https:\/\/www.newenglandsupplychainconference.org\/wp2019\/wp-json\/wp\/v2\/location?post=2189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}