Are you managing your inventory correctly? We reveal the four telltale signs that your company has an inventory management issue.More December 2, 2019
Big Data versus Information Overload
By nature people require oversight of information to base a decision on. How more data is available to use in your decision making process how more difficult your decision making will be if the oversight is not available. People tend to cross out information that in first instance seems not to be that important. In essence they minimize the amount of data to create oversight which makes it easier to make a decision.
Imagine what would happen if the dependencies of information is segmented already before the data is presented to you. In fact you will be presented with data that matters according to the facts, not with data that you think that matters within your scope. With the digitization currently going in your business processes data sources can be analyzed automatically, dependencies of data can be discovered automatically and the data can be presented in such a way that supports your demand for oversight. Artificial and Human intelligence can work very good together to decide what is relevant data and what is irrelevant data. You can even have a optimized and predicted outcome of your decision presented to you based on variables and constraints that matter in the scope of your decision.
Optimized decisions need to be made simple. All of the above mentioned has been implemented at several customers to support their optimized decisions. Do your work already with a Supply Chain Planning solution? Please ask yourself the question if you really know what ‘optimized’ means in your current processes? How is it optimized and do you really base your decision on that optimization? Which mathematical and statistical methods and calculations are used and does it really support your decision making process? Do you actively match the reality afterwards and compare it with the projected information you based your decision on? ICRON’s experience is that if we start to ask those sort of questions decision makers in organization really don’t know. That’s where we find the biggest impact and improvement of our solutions.
If this made you think, don’t hesitate to contact us. We are there to make your optimized decisions simple!