Operations Management

Latest trends and knowledge in Operations Management

project management

What is the role of technology in project management? – Explained with 2 Case Studies

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What is the role of technology in project management? Project management has evolved over the years, and technology has played a significant role in this transformation. With the rapid advancements in technology, project managers now have access to various tools and software solutions that enhance their efficiency, streamline processes, and improve overall project success rates. …

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Multi Echelon Inventory Optimization

Multi Echelon Inventory Optimization (MEIO)- An Exceptional Inventory Management Technique

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Introduction Multi Echelon Inventory Optimization (MEIO) is a strategic paradigm in supply chain management. This approach breaks the traditional boundaries by considering all stages, or echelons, of a supply chain as an integrated entity, rather than separate compartments. MEIO examines the intertwined nature of demand fluctuations, lead times, and costs associated with each echelon, seeking …

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Improve Inventory Management

How to Improve Inventory Management – 15 Proven Ways with Case Studies

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Demand Forecasting Predicting product demand enables businesses to have the right amount of inventory on hand. Demand forecasting is a key strategy for inventory management as it predicts consumer demand for products or services, allowing businesses to manage inventory more effectively and efficiently. Demand forecasting uses historical sales data, market research, and statistical methods to …

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19 Agile Project Management Benefits: A Comprehensive Overview

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Agile project Management benefits span from enhanced customer focus to increased savings. In this overview, we have found 19 Agile project management benefits that you should know about to embrace change and digital transformation in your organization. project management is a methodology that emphasizes flexibility, collaboration, and customer satisfaction. It is based on the Agile …

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8 Agile Project Management Methods and when to use – A Detailed Guide

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Which Agile Project Management method to use is a pertinent debate among practitioners. Considering its flexibility and simplicity of adoption, it has become a go-to methodology for managing projects. The State of Agile Report published in 2018, studied the existence of 15 plus agile methodologies used among practitioners. In this article, we will focus on …

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CPFR-Collaborative Planning Forecasting and Replenishment – A Comprehensive Overview

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The term CPFR (Collaborative planning, forecasting, and replenishment) refers to the business process where two or more trade partners pool their resources to develop strategies for meeting client demand, to boosting availability while lowering inventory, transportation, and logistics costs. CPFR combines knowledge of SCM, Inventory Management, and Demand Forecasting among others for fruitful results for …

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Lean Supply chain management – Lean Supply chain Management- Definition, History, and Aspects

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Definition Lean supply chain management focuses on the elimination of waste from the waste. In a nutshell, lean supply chain management is all about streamlining your company’s supply chain in order to eliminate waste and improve efficiency. By reducing or eliminating non-value-added activities throughout the supply chain, lean supply chain management can help your company …

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Supplier Selection Criteria – An Absolute Guide with Checklist

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Supplier selection criteria form the very basic procurement strategy. The criteria for supplier selection is a mission-critical task that falls under the purview of the purchasing function. This is especially important to keep in mind when we are discussing strategic components as well as bottleneck components. In neither of these groups is there any evidence …

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