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Business Assistance Combined
 

Business Assistance Combined

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UEDA 2008 Presentation

UEDA 2008 Presentation

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  • Multilogo – PSU and PennTAP – best of both Started in 1965 1 of 1 st 6 IE Programs {GT, Tenn, Iowa St, NC St, Texas AM} IE vs. Co-op Ext Helped > 30,000 companies 40 Countries ea. Year review our program – website stats Extension workshops – Sweden, Indonesia Mexico copied our program

Business Assistance Combined Business Assistance Combined Presentation Transcript

  • Pennsylvania Technical Assistance Program A Federal-State-University Partnership for Economic Development
  • Project
    • Cluster Based Information Technology Assistance
    • Presenter
    • Wayne Figurelle
    • Director , PennTAP (Pennsylvania Technical Assistance Program)
  • PennTAP Technology-Led Economic Development
    • PennTAP of Penn State University engages , guides , and empowers businesses throughout the Commonwealth by:
      • providing objective and experience-based technical solutions and cluster initiatives
      • focusing on distressed regions
      • enabling clients to succeed and thrive, stimulating economic growth for PA
  • The PennTAP Process
    • How clients hear about PennTAP
    • Referrals
    • Presentations
    • Website
    Open Case Client
    • Value added connection to resources
    • Third Party
    • University
    • Partners
    • PennTAP is a well-connected resource
    • 50% of PennTAP clients come from referrals from other organizations.
    • After PennTAP provided value-added assistance, 60% of cases
    • were then connected to one or more other resources for follow-up assistance.
    • Utilizes University resources: Faculty, students, training and test facilities
    • EDA, DCED and PENNTAP realize the importance of specific clusters to the Economy of Pennsylvania
    • In 2005, these partners put together an initiative to provide Information Technology Assistance to identified PA clusters
    • 2 Initiative Components
      • Industrial Clusters – Provide Technology Assistance to organizations in top PA Industry Clusters
      • Healthcare Services – Provide Technology Assistance to Healthcare Services Organizations
    Cluster-based Information Technology Assistance
    • PennTAP Role
    • Provide a Senior Technical Specialist positioned geographically in each region
    • Provide a limited amount of Technical Assistance for Advanced Information Technology Initiatives
    • Qualify organizations to insure client’s commitment to implementation and economic growth
    Cluster-based Information Technology Assistance
    • PennTAP Role
    • Drive the demand for affordable broadband access, through awareness and networking of regional users – especially in Healthcare
    • Perform industry cluster focused seminars targeting specific technology issues
    • Work with partners to get cluster-specific tools and data online
    • Inform workforce partners on technology training needed by the cluster companies
    • Inform university partners on technology and research needs of the cluster companies
    Cluster-based Information Technology Assistance
  • Cluster Information Technology Project Impact Results to date have exceeded projections! Metric Goal (42 months) To Date (6/11/08) Companies Assisted 1,000 1,087
      • Cases in Critical Clusters
    75% 90% Total Jobs (Created/Retained) 750 1,607
      • ROI - EDA $ Invested per Job
    $1,600 $750 Total Economic Benefits $30M $49.4M
      • ROI - Economic Impact per EDA $ Invested
    $25 $41 Cases Resulting in Expenditures to PA Partners 50% 66% Cluster-focused Outreach Seminars 75 106
    • Maureen Collins-Williams
    • University of Northern Iowa
    • Regional Business Center
    • [email_address]
    • www.MyEntre.Net
  • The Challenge In Rural Regions
  • Entrepreneurship is Critical
  • What Do Entrepreneurs Need?
    • Community Support
    • Technical Assistance and Training
    • Capital
    • Networks
    Around The Corner Productions - Cedar Falls
  • Building Community Support A Local Taskforce: Entrepreneurs Youth Educators Minorities Immigrants Community leaders Volunteers Robert Lee, Dreamland Productions -Traer
  • Thinking Differently Immigrant owned Home based Spin-offs Adventurous Ag Technology Roots Market - Cedar Falls La Chiquita -Waterloo
  • Technical Assistance and Training
    • Convene Service Providers
      • Develop Master Calendar
      • Share Information
      • Share The Credit
  • Capitalization Soy Basics -New Hampton $1.2 million Sara Sheets -Independence $25,000 Chip/Darlene Schwickerath -New Hampton $250,000
  • Networking! New Statewide Conference for Small Business Bi-Annual Regional Networking Events
  • An Online Community
  • Free Webinars
    • More than 2,000 Rural Iowa Entrepreneurs Are Part of Online Community
        • 525 New Full Time Rural Jobs
        • 154 New or Expanded Companies
        • $21,100,000 Commercial/Equity Investment
    • New Online Community January 2009
    Dream Big. Grow Here.
    • Maureen Collins-Williams
    • University of Northern Iowa
    • Regional Business Center
    • [email_address]
    • www.MyEntre.Net
  • Presented by     Dr. Bruce H. Andrews, Professor of Management Science and Director, Maine Center for Business and Economic Research (A joint center of the School of Business and the Muskie School of Public Service) at the  University of Southern Maine     November 11, 2008
  • OVERVIEW
    • I. The EDA University Center
    • II. The Client
    • III. The Business Problem/Opportunity
    • IV. The Technical Challenges
    • V. The Business Solution
    • VI. The Innovations
    • VII. The Impacts
  • I. THE EDA UNIVERSITY CENTER
    • Full-time faculty/graduate-student driven
    • University of Southern Maine talent pools
      • School of Business
      • Muskie School of Public Service
      • College of Education and Human Development
      • School of Applied Science, Engineering and Technology
      • College of Arts and Sciences
      • College of Nursing and Health Professions
    • Other University of Maine System talent pools
      • University of Maine at Orono
      • University of Maine at Ft. Kent
      • University of Maine at Machias
      • University of Maine at Presque Isle
      • University of Maine at Augusta
    •  
  • II. THE CLIENT: Hannaford Bros. Co. (Business Strategy & Insights Department)
    • Fortune 100 grocer (subsidiary of Delhaize America)
    • $4,000,000,000 + annual sales
    • 170 + supermarkets in ME, NH, MA, NY, and VT
    • 8-11 departments/store
    • 27,000 + employees
    • ~6000 weekly sales forecasts
  • III. THE BUSINESS PROBLEM/OPPORTUNITY
    • Efficient routine, automated production of almost 6,000 accurate individual one-year-ahead weekly forecasts by store, by department, and by sales unit (dollars, items, and transactions) and aggregated forecasts to support a wide range of planning processes such as
    • -Preparing financial projections
    • -Determining operating and investment cash flows
    • -Informing investor public relations communications
    • -Scheduling employees and store deliveries
    • -Evaluating store managers’ performance and bonus eligibility
    • and to help analyze the impact of competitive events/activities such as
    • - New store openings (Hannaford’s or competitor’s)
    • -Marketing initiatives
    • -Advertising budgets
    • -Promotional-flyer positioning and pricing (e.g., distribution, ad placement,
    • and ad size)
  • IV. THE TECHNICAL CHALLENGES
    • Many complex weekly-sales time series, each of which requires its own forecast
    • Newer stores with limited data prohibiting use of “work-horse” ARIMA models
    • Seasonal cycles with varying lengths
    • Capturing relationships in hierarchical forecasts (e.g., sales of a store and its departments)
    • Measuring the impact of competitive events
  •  
  •  
  • V. THE BUSINESS SOLUTION
    • MCBER won the competitive-bidding process against two international consulting firms (SAS Institute and SPSS, Inc.)
    • MCBER collaboratively designed, constructed, and installed a user-friendly, automated, statistical forecasting system to produce ~6000 highly-accurate forecasts of weekly sales for one year ahead
    • MCBER collaboratively prepared system users’ instructions and conducted on-site training sessions
    • MCBER is presently training new users, adding enhancements as needs/opportunities arise, and providing other user support services
  • VI. THE INNOVATIONS
    • Created a fully-automated, forecasting system for use by non-statisticians that provided access to highly-sophisticated statistical tools
    • Our “innovative” technical solutions for the five aforementioned technical challenges are published in the Spring 2008 edition of Foresight, a refereed journal of the International Institute of Forecasters, in a paper entitled “Innovations in Sales Forecasting for Large-Scale Retailers” (complimentary reprints available)
  • VII. THE IMPACTS
    • Hannaford
      • Average weekly store-level forecasting error was reduced by more than half from 6.43% to 2.80%, an improvement in accuracy of 3.63%
      • Average overestimation and underestimation non-offsetting penalty costs in a “typical” store were reduced by over $1,000,000 per year accumulating to about $170,000,000 annually at the company level
      • Hannaford gained the capacity to analyze the effect of, and formulate responses to, competitive events based on the models’ ability to accurately estimate their sales impact in dollars, items, and transactions
    • “ Poster-child” project for USM, SB, and MCBER
      • Maine Legislature
      • Governor
      • Chancellor – University of Maine System
      • Southern Maine business community
      • Prospective students
    • Faculty
    • Research graduate assistants
    • Professional forecasting community