FAU Business Moderated by David Menachof, FAU Associate Professor, Art Koch and Matt Tichon discuss the current supply chain and strategies going forward in terms of production capacity, inventory management, global vs. local sourcing choices, and value added issues.https://www.youtube.com/watch?v=LTPlvqY4IcE
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Art Koch’s Profit Chain® Series
Volume 3 | Number 7 | July 2020
Black Swan Event
We have learned important lessons from the ongoing COVID-19 black swan event. Here is a quick recap of the most significant lessons learned:
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After the last few months of navigating Covid-19 conditions, we can expect that the next 15-18 months will require patience as we wait for the virus to dissipate, for individuals to build antibodies and for vaccines to be developed.
There has been much voiced and written about the “new normal”, when we can expect to work remotely, restaurants to have plexiglass walls between tables, and masks to be worn 24/7. I don’t subscribe to this vision of the future.
Let’s stop to think about the past and current pandemics; yes, current pandemic! HIV/AIDS is still ongoing and has taken an estimated 25 to 35 million lives since its origin in 1981!
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Let’s spend a few minutes talking about the anticipated launch of your post COVID-19 strategy. This event will be a once in a lifetime opportunity to reset, regroup and retool your enterprise.
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Art Koch’s Profit Chain® Series
Volume 3 | Number 6 | June 2020
The Elegance of Simplicity
It was just last year when Apple Inc. (AAPL) announced that the company had exceeded a market value of $1 Trillion. How did they become the first company with a trillion-dollar valuation? It is my opinion that it was Steve Jobs’, and now Tim Cook’s, relentless focus on simplicity. Both understood that it would not be easy and that it would take unwavering tenacity to achieve their vision.
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Learn Art Koch’s Profit Chain® tricks on how to reduce inventory by over $200 Million, an average of 23% while increasing service level by an average of 18.5 percentage points.
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Today is a moment of unprecedented change. The COVID – 19 pandemic has caused significant disruptions to all businesses around the world. Don’t think of this a problem, but opportunities for those individuals that are faster, flexible, and responsive to change. We cannot let fear paralyze us from inaction.
One of the biggest challenges I see with organizations is to just start. They need to set aside their self-doubt. I’ll say to them: “It’s time to Knock the Training Wheels Off and start our journey”. This is exactly what many organizations need to do right now!
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Art Koch’s Profit Chain® Series
Volume 3 | Number 5 | May 2020
One important lesson that COVID-19 has taught Executive Leaders is that their assumptions are misguided when assessing the Total Cost of Ownership, TOC.
Total Cost of Ownership (TCO): TCO includes all of the direct and indirect costs associated with an asset or acquisition over the entire life cycle of the product or service. TCO includes not just the purchase price, but also the cost of transportation, handling and storage, damage and shrinkage, taxes and insurance, and redistribution costs.
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Short Term: As a manufacture, what can be done now?
Leadership.
Establish a triage team to manage the crisis.
Be proactive.
Don’t waste the opportunity: A Crisis or Recession is a Terrible thing to Waste.
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