4 Value Of Information
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The document discusses the bullwhip effect in supply chains and the value of information in reducing it. It defines the bullwhip effect as increased variability in orders moving up the supply chain. Centralizing demand information across firms can significantly reduce the bullwhip effect by allowing each stage to use actual customer demand data for forecasting rather than relying on variable order data from the previous stage. Other factors that influence the bullwhip effect include demand forecasting methods, lead times, order batching, and price variability, which can be mitigated through information sharing and coordination strategies.
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The document discusses the bullwhip effect, which is an increase in variability of orders as they move up the supply chain from customer to manufacturer. Some symptoms of the bullwhip effect include excessive inventory, poor forecasts, insufficient capacity, and long backlogs. The bullwhip effect can be caused by factors such as forecasting methods, order batching, price fluctuations, rationing during shortages, and gaining behavior. Strategies to mitigate the bullwhip effect include improved forecasting methods, visibility of downstream demand data through approaches like VMI/CRP, bypassing intermediaries, and reducing price discounting and order exaggeration.
Information Management Powerpoint
The article discusses how the COVID-19 pandemic has accelerated the adoption of digital technologies by small businesses. Many small businesses have had to quickly transition operations online to continue serving customers during lockdowns and social distancing measures. While challenging, this forced digital transformation may end up benefiting small businesses in the long run by helping them reach more customers and adapt business models for a digital-first world.
Research methodology, unit 2 for MBS 1st year
Research methodology, unit 2 for MBS 1st yearFormer Lecturer of HETAUDA SCHOOL OF MANAGEMENT, Hetauda, Makawanpur, Nepal
The document discusses the preliminary stages of research, including literature reviews, problem definition, theoretical frameworks, hypotheses formulation, and criteria for good hypotheses. It provides definitions and guidelines for each stage. A literature review identifies existing knowledge, questions unanswered, and justification for further study. It involves locating, obtaining, reading, and evaluating scholarly materials. The theoretical framework establishes the foundation of variables identified as relevant to the problem. Well-stated hypotheses should be testable, limited in scope, and reflect a proposed relationship between variables based on prior knowledge.Research methodology, unit 1 for MBS
Research methodology, unit 1 for MBSFormer Lecturer of HETAUDA SCHOOL OF MANAGEMENT, Hetauda, Makawanpur, Nepal
This document provides an overview of research methods. It defines research and describes the scientific research process. Research is defined as a systematic investigation to discover and develop knowledge. The scientific research process involves four stages: exploration, description, explanation, and prediction. It also outlines key aspects of different types of research methods, including quantitative and qualitative approaches, and discusses challenges in applying scientific methods to social science research. The document emphasizes that research requires a systematic, objective, and rigorous approach.Data processing cycle
The document outlines the basic data processing cycle which involves 4 key operations - input, process, storage, and output. Data is entered through input devices, manipulated and processed by the processor, stored on storage devices like hard disks, and finally output through output devices to present the useful information to the user.
The "Bullwhip" Effect
The document discusses the "bullwhip effect", which refers to how demand and orders become more variable as they move up the supply chain from the consumer to the manufacturer. There are several key causes of the bullwhip effect, including long lead times, lack of information sharing between supply chain partners, price fluctuations, and batch ordering. This can lead to problems like increased costs, stockouts, and inaccurate demand forecasts as variability increases at each stage. The document provides examples and strategies for reducing the bullwhip effect through better information sharing and collaboration between supply chain members.
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Who Controls The Demand Pull And Supply Push In E Learning
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Supply chain management 091116162848 Phpapp01
The document summarizes key concepts related to supply chain dynamics, coordination, and design. It discusses the bullwhip effect where demand variability increases as it moves up the supply chain. Causes include demand forecasting, order batching, price variations, and rationing games. Solutions proposed are vendor managed inventory, quick response, and information sharing to reduce lead times. Coordination across a decentralized supply chain is discussed using examples like prisoner's dilemma. A coordinating contract can incentivize members to act as a centralized system for improved overall performance.
7a session 7_bulwhip effect cfvg 2012
The document discusses the bullwhip effect in supply chains. The bullwhip effect is when demand variability is amplified as it moves up the supply chain from retailers to distributors to manufacturers. This occurs due to factors like forecasting, lead times, order batching, and price fluctuations. Forecasting contributes as estimates of demand change over time, requiring order quantity changes. Longer lead times mean demand estimates impact safety stock and orders more. Order batching increases variability by creating periods of no and high demand. Price discounts cause demand swings as well.
The Bull-Whip effect
A well explained presentation on one of the major Supply Chain challenges, The Bull-Whip Effect, outlining the major causes as well as the methods of coping with the Bull-Whip Effect.
Consumer driven supply chain with ONE network
Why Every Company in the Value Chain Should Care About the End-Consumer
One Network can help your company become consumer-driven.
Why is that important?
Let’s begin with today’s consumer. There’s you, me, and about 7 billion others...
Today’s consumers want the right price, the best quality, and they want it now. What does that mean for your business?
Consider that your success - or failure - eventually depends on whether your end consumers are satisfied. This is true for all companies, in every industry, delivering every kind of product or service. They all exist to eventually serve an end consumer.
Shouldn’t your company be doing all of the right things to ensure success – and the consumer’s satisfaction?
The problem is, you've inherited a tangled mess of disconnected software system that focus on your internal processes and immediate trading partners. This is actually IGNORING the end consumer!
Cilt demand planning.
The document discusses demand planning in supply chain management. It covers key topics like demand forecasting techniques, sources of demand variability, and collaboration approaches. Demand forecasting involves analyzing trends, seasonality, random variation, and cycles. Qualitative and quantitative forecasting methods are described, including naive, moving averages, and exponential smoothing. Collaboration approaches like information sharing, continuous replenishment, vendor-managed inventory, and CPFR aim to reduce the bullwhip effect through better demand signal synchronization.
IJERD (www.ijerd.com) International Journal of Engineering Research and Devel...
This document discusses the key steps for implementing a Vendor Managed Inventory (VMI) system between a manufacturer and customer. The four main steps are: 1) Set clear objectives for the VMI program focused on business and supply chain goals. 2) Select the supplier that is most experienced with VMI and can design an effective model. 3) Choose the correct VMI model to implement based on material and supply chain characteristics. Common models include third-party logistics and consignment. 4) Implement the program with a well-defined project plan, internal resource commitment, testing, and process to ensure correct operation. Effective VMI implementations require selecting the right supplier, model, and implementation approach tailored to each situation.
Risk pooling 7.ppt
GM manages a large and complex supply chain network with over 20,000 supplier plants. Holding the right inventory levels is challenging due to uncertainties in demand and supplies. Risk pooling can help reduce total inventory levels by aggregating demand across locations, as variability is reduced when demands are combined. A centralized inventory system with a single warehouse was proposed for Acme to take advantage of risk pooling and potentially decrease total inventory investment.
What is ‘bullwhip effect’?
Growing level of inventory, lack of communication, disorganization, delay in order decisions might just be a result of the dreaded ‘Bullwhip Effect’ in your supply chain.
But, what exactly is ‘bullwhip effect’?
View PPT for a clear idea and steps to avoid it!
S P R I N G 1 9 9 7Hau L. LeeV. PadmanabhanSeungjin W.docx
S P R I N G 1 9 9 7
Hau L. Lee
V. Padmanabhan
Seungjin Whang
The Bullwhip
Effect in Supply
Chains
Distorted information from one end of a supply chain to the
other can lead to tremendous inefficiencies: excessive
inventory investment, poor customer service, lost revenues,
misguided capacity plans, ineffective transportation, and
missed production schedules. How do exaggerated order
swings occur? What can companies do to mitigate them?
Vol. 38, No. 3 Reprint #3837 http://mitsmr.com/1phEOiM
http://mitsmr.com/1phEOiM
93SLOAN MANAGEMENT REVIEW/SPRING 1997 LEE ET AL.
N
ot long ago, logistics executives at Procter &
Gamble (P&G) examined the order pat-
terns for one of their best-selling products,
Pampers. Its sales at retail stores were fluctuating, but
the variabilities were certainly not excessive. However,
as they examined the distributors’ orders, the execu-
tives were surprised by the degree of variability. When
they looked at P&G’s orders of materials to their sup-
pliers, such as 3M, they discovered that the swings
were even greater. At first glance, the variabilities did
not make sense. While the consumers, in this case,
the babies, consumed diapers at a steady rate, the de-
mand order variabilities in the supply chain were am-
plified as they moved up the supply chain. P&G
called this phenomenon the “bullwhip” effect. (In
some industries, it is known as the “whiplash” or the
“whipsaw” effect.)
When Hewlett-Packard (HP) executives examined
the sales of one of its printers at a major reseller, they
found that there were, as expected, some fluctuations
over time. However, when they examined the orders
from the reseller, they observed much bigger swings.
Also, to their surprise, they discovered that the orders
from the printer division to the company’s integrated
circuit division had even greater fluctuations.
What happens when a supply chain is plagued with
a bullwhip effect that distorts its demand information
as it is transmitted up the chain? In the past, without
being able to see the sales of its products at the distri-
bution channel stage, HP had to rely on the sales or-
ders from the resellers to make product forecasts, plan
capacity, control inventory, and schedule production.
Big variations in demand were a major problem for
HP’s management. The common symptoms of such
variations could be excessive inventory, poor product
forecasts, insufficient or excessive capacities, poor cus-
tomer service due to unavailable products or long back-
logs, uncertain production planning (i.e., excessive revi-
sions), and high costs for corrections, such as for expe-
dited shipments and overtime. HP’s product division
was a victim of order swings that were exaggerated by
the resellers relative to their sales; it, in turn, created
additional exaggerations of order swings to suppliers.
In the past few years, the Efficient Consumer Re-
sponse (ECR) initiative has tried to redefine how the
grocery supply chain should work.1 One motivation
fo.
unit-1- Introduction.pdf
This document provides an introduction to supply chain management. It defines a supply chain as consisting of all parties involved in fulfilling a customer request, including manufacturers, suppliers, transporters, warehouses, retailers, and customers. The objective of a supply chain is to maximize overall value or surplus, which is the difference between the customer's value and the total costs of the supply chain. Effective supply chain management involves managing flows of information, products, and funds throughout the chain to maximize this surplus.
Bullwhip effect
The bullwhip effect refers to larger swings in inventory levels and orders as one moves up the supply chain away from the customer. It occurs as each company amplifies the fluctuations in customer demand when placing orders with its suppliers. This results in excess and insufficient inventory levels throughout the supply chain. The bullwhip effect is caused by factors like forecast errors, batch ordering, pricing variations, and a lack of demand information sharing between supply chain partners. To reduce the bullwhip effect, companies should improve communication, demand forecasting, information sharing, and move towards a demand-driven supply chain model.
Contenido log
This document defines key concepts in supply chain management. It explains that a supply chain includes all parties involved in fulfilling a customer request. The objective is to maximize overall value by balancing revenue and costs across the supply chain. Decision making occurs in three phases: design, planning, and operations. Processes can be viewed as cycles between parties or as push/pull depending on whether they are reactive or speculative. Information sharing and collaborative practices like CPFR can help reduce the bullwhip effect of demand distortion up the supply chain.
97 Ch01
A supply chain includes all stages involved in fulfilling a customer request, from raw material suppliers to manufacturers to distributors to retailers to customers. There are typically three decision phases in managing a supply chain: strategy/design, planning, and operations. The objective of a supply chain is to maximize overall value created by balancing revenue generated from customers against the total costs across all supply chain stages.
Solving For The Supply Demand Mis-Match: Strategy and Case Study
Presented at ACS 2004 Symposium. ACS is an educational extension of APICS Region XI representing twenty-four APICS chapters from North Carolina, South Carolina
Supply chain management
1. The document discusses supply chain management concepts including what a supply chain is, challenges in matching supply and demand, and strategies for managing inventory and coping with the bullwhip effect.
2. It provides examples of successful supply chain management by companies like Walmart, Dell, and L&T Construction including how they reduced costs and improved customer satisfaction through collaboration with suppliers and use of information technology.
3. Managing complex global supply chains, variability in demand and supplier performance, and conflicting objectives between members are some of the difficulties in supply chain management.
Supply Chain Management With Brief Case Studies
The document provides information about a seminar presentation on supply chain management. It discusses what a supply chain is, provides an example of a supply chain using Coca-Cola, and discusses issues in supply chain management such as matching supply and demand, inventory management challenges, and the bullwhip effect. It also provides examples of successful supply chain management by companies like Walmart and Dell.
Supply chain management
1) Supply chain management involves managing the flow of materials, information, and finances between suppliers and customers. It aims to meet demand profitably through coordination across companies.
2) Traditional views of supply chains focused on transportation, inventory, and administrative costs, which combined accounted for over 10% of GDP in the 1990s. Effective supply chain strategies can save billions by reducing these costs.
3) Supply chain management strategies must fit a company's overall business strategy regarding product development, marketing, and operations to be effective. Strategic fit is achieved by understanding customer needs and matching supply chain capabilities accordingly.
Lecture Intranets and supply chain management.pptx
An intranet is an internal network within an organization that uses TCP/IP protocols like the internet. An extranet allows controlled external access through authentication. Intranets and extranets are commonly used in large companies for information sharing. Effective supply chain management (SCM) involves planning, sourcing, production, delivery, and returns across a network of suppliers, producers, distributors, and customers. Key benefits of SCM include reduced costs, improved quality and customer satisfaction.
THE SUPPLY CHAIN EXPERIENCE
This 2-day seminar combines supply chain strategy, planning, operations, real-world examples, and role-play simulations to experience typical issues and constraints. Participants will learn personal development elements for self-understanding versus what is required for different positions. The seminar also includes a business case to develop analytical skills for new hires.
SUPPLY CHAIN Chain Management LECTURE.ppt
discusses about the detailed supply chain management with all aspect from supply, raw material handling, operations and management
Similar to 4 Value Of Information (20)
IJERD (www.ijerd.com) International Journal of Engineering Research and Devel...
IJERD (www.ijerd.com) International Journal of Engineering Research and Devel...
S P R I N G 1 9 9 7Hau L. LeeV. PadmanabhanSeungjin W.docx
S P R I N G 1 9 9 7Hau L. LeeV. PadmanabhanSeungjin W.docx
Solving For The Supply Demand Mis-Match: Strategy and Case Study
Solving For The Supply Demand Mis-Match: Strategy and Case Study
Lecture Intranets and supply chain management.pptx
Lecture Intranets and supply chain management.pptx
More from pirama2000
Global Supply Chain
The document discusses global supply chain management strategies for a multinational automotive company. It outlines the company's manufacturing locations around the world and production responsibilities at each plant. It then discusses factors like foreign competition, technology diffusion, costs, taxes, and regulations that companies must consider for an effective global supply chain. Risk management strategies are also summarized, including redundancy, rapid response, and adaptability across the supply chain.
Probability Fundas
The document provides an overview of probability fundamentals. It discusses key concepts like probability, random variables, probability distributions, classical probability, conditional probability, Bayes' theorem, and applications of probability in areas like reliability, quality control, and queuing systems. Examples are given to illustrate probability calculations and theorems.
13 Measuring Sc Performance
This document discusses various approaches to measuring supply chain performance, including the Balanced Scorecard, SCOR model, Logistics Scoreboard, activity-based costing, and economic value added. It provides examples of performance measures that can be used across different areas of the supply chain, including customer service, processes, purchasing, manufacturing, logistics, administration, and marketing. Key frameworks like the Balanced Scorecard emphasize the importance of using a mix of financial and non-financial metrics to evaluate performance from multiple perspectives.
3 Inventory Management And Risk Pooling
Inventory management and risk pooling are important concepts in supply chain management. General Motors in 1984 had a large logistic network with high inventory levels and transportation costs. Effective inventory management and risk pooling strategies can help companies reduce costs and improve customer service by reducing inventory levels while maintaining the same level of service or improving service with the same inventory. These strategies work best when demands across different locations are negatively correlated as it reduces overall demand variability.
Edlp
Every Day Low Pricing (EDLP) is a pricing strategy where retailers maintain consistently low prices rather than periodically running sales and promotions. While very successful for companies like Walmart, EDLP carries risks and its success depends on factors like steady consumer demand, a cost advantage for the retailer, and customers not waiting for deals. EDLP works best for frequently purchased consumer goods where demand remains consistent and purchases are not timed around sales. Certain seasonal or perishable products are less suitable for EDLP since demand fluctuates more.
Coordinated Product And Supply Chain Design
The document discusses coordinating product design and supply chain strategies. It describes two distinct chains in organizations - the supply chain focusing on physical product flow, and the development chain focusing on new product introduction. Key factors that impact appropriate strategies include demand uncertainty, technology change rates, and product modularity. A framework is presented for matching product and supply chain strategies based on these factors. Case studies on companies like Benetton are discussed that utilize strategies like postponement and standardization.
Case Bharti Airtel
Bharti Airtel is considering strategic outsourcing to help manage its rapid growth. It plans to outsource network management and operations to reduce capital expenditures and transfer investment risks. Outsourcing could lower costs through reduced hiring needs and better bargaining power. However, outsourcing core business functions increases dependency on vendors and limits flexibility. Vendors also face risks from unused capacity and uncertainty in Bharti's growth. With proper oversight, outsourcing could help Bharti address the huge investments needed to serve its growing customer base.
Scm Rfid
RFID technology uses tags and readers to transmit data without direct line of sight and can help increase supply chain visibility. The Auto-ID Center was established in 1999 to develop low-cost RFID standards and included several university labs. It later split into the Auto-ID Center for research and EPCglobal to develop and administer the EPC Network RFID infrastructure. While RFID adoption faces challenges like cost and lack of standards, it provides benefits like inventory tracking, asset management, and reducing theft.
Strategic Outsourcing Airtel
- Bharti Airtel is considering strategic outsourcing to help manage its rapidly growing operations and mobile customer base, which was adding 1.5 million new subscribers per month in 2003.
- Outsourcing network management and maintenance to vendors could help lower capital expenditures and equipment investment risks while allowing Bharti Airtel to pay only for capacity used.
- However, outsourcing core network functions could increase dependency on vendors and limit Bharti Airtel's flexibility. Proper governance and oversight of vendors would be required.
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みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
ここ3000字までしか入らないけどタイトルの方がたくさん文字入ると思います。
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みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
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UiPath Test Automation using UiPath Test Suite series, part 5
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4 Value Of Information
- 1. VALUE OF INFORMATION -BULLWHIP EFFECT-
- 4. The Bullwhip Effect and its Impact on the Supply Chain Fig 2. Point-of-sales Data-Original Figure 3. POS Data After Removing Promotions
- 5. The Bullwhip Effect and its Impact on the Supply Chain Figure 4. POS Data After Removing Promotion & Trend
- 6. Higher Variability in Orders Placed by Computer Retailer to Manufacturer Than Actual Sales
- 7. Increasing Variability of Orders Up the Supply Chain
- 19. Var(q)/Var(D): For Various Lead Times L=5 L=3 L=1 0 2 4 6 8 10 12 14 0 5 10 15 20 25 30 L=5 L=3 L=1 P A lower bound on the increase in variability given as a function of p
- 21. Multi stage SC systems
- 44. THANK YOU
Editor's Notes
- Each of the firms along the supply chain are producing at a constant rate because demand is easily forecasted; the supply chain is in equilibrium. Each of the firms are forecasting demand accurately.
- In this example, demand has increased by 10 units over equilibrium. To meet the demand, the distributor doubles inventory to meet production and to meet any other demand fluctuations. The producer further up the chain also notices the increased demand of the distributor and doubles their demand forecast to 40 units and hold 80 units in inventory to meet demand and hedge against any other demand fluctuations. The supplier (or top of the supply chain) receives the blunt of the whip effect. Costs for individual firms, in this example, increase the further you move up the supply chain,
- What if there are promotional activities, no transportation discounts and no inflated order? Are we still going to see an increase in variability? Consider a simple supply chain with a single retailer and a single manufacturer
- 零售商向制造商发出的订单需求的方差 Var(Q) 与顾客需求的方差之比满足：
- 供应链上第 k 阶段发出订单的方差 Var(qk) 相对于顾客需求的方差 Var(D) 的关系，
- Some keys to reducing costs to your firm: stabilize prices along the supply chain and be sure your information along the supply chain is timely and accurate. This will enhance decision making and allow your company to be responsive to customer demand.
- Every firm should look to reduce costs and help them gain competitive advantage. Reducing costs along the supply chain is a new phenomenon. Perhaps your firm can gain a competitive edge by reducing fluctuations in the information along your supply chain.