June 14, 2020
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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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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Every CEO or executive should be driving reduced lead-times.
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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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MultiBriefs Exclusive – Gail Short In the weeks after COVID-19 began sweeping across the United States, the pandemic succeeded in revealing chinks in the country’s retail and manufacturing supply chains. Some supply chains simply broke. Stores quickly sold out of items like hand sanitizer, antibacterial wipes, toilet paper and paper towels, to the frustration of …
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In the last couple of months, we have gone to grocery stores and pharmacies only to find empty shelves where the toilet paper, paper towels, antibiotics, cleaning supplies and hand sanitizer used to be.
Let’s take a moment to discuss supply chain as it applies to the retail industry. For non-perishable goods, canned foods and dry-goods, the only use of JIT in the retail sector is from the distribution center to the store location. From manufacturing to distribution centers, is traditional “push”, manufacturing utilizing highly sophisticated forecasting / demand planning, or just-in-case inventories. When digging deeper into the outages occurring today, the demand variability of these items is extremely low; meaning their demand is highly predictable. What we are experiencing is a once in a 100-year event! No demand planning / forecasting system is capable of predicting this type of event or crisis. If demand planning processes were able to forecast this event, I guarantee that this kind of knowledge would not be wasted on toilet paper and paper towels! Someone would be using that information to make billions in the stock market or to accurately predict weather patterns. Additionally, push systems are not flexible, responsive or agile enough to quickly pivot for sudden demand changes.
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Art Koch’s Profit Chain® Series
Volume 3 | Number 4 | April 2020
Can you imagine the United States outsourcing 80-85% of our defense contracts to the lowest bidder?
And if we were to do this, would we be putting our national security and sovereignty in great jeopardy? Absolutely! This is exactly what the health care industry has done to the US!
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Most of my advisory work involves helping outline, reviewing or critiquing project plans, of one sort or another.
I routinely nudge or push the team to go faster, to be quicker, and to “Fail Fast…Learn Fast…Fix Fast…!
Too often people seek Perfection in what they do, and it is NOT attainable. This pursuit delays fixing critical processes that will increase customer loyalty, corporate culture and profits.
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As the reality and the shock of the Covid-19 crisis are starting to settle, business leaders and owners should be taking immediate action to protect business today and secondly mobilize their entrepreneurial skills to seize opportunities as they arise.
This global pandemic is already having a profound impact on small- and medium-sized businesses, but now is the time to prepare strategies for recovery. Listen to this podcast produced by Dan Weedin in Seattle where he interviews business experts from Seattle, Portland, Miami, Canada, and Australia on what business owners should be thinking about during the Covid-19 crisis. Recorded March 18, 2020.
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