Five Signs Operations Research Can Help
If you are reading this article, chances are that you job responsibilities include a diverse and challenging set of decision making responsibilities. You may be focused on infrastructure planning, operations planning, scheduling or some other aspect of the supply chain. No matter, the challenges you face on a daily basis require significant domain knowledge and a 360 degree view of your supply chain.
So as you face critical supply chain decisions, how do you know the choices you are making will result in the best solution? If your not sure, then operations research (O.R.) can help. Here’s five simple rules of thumb to help you decide whether you could benefit from OR:
1) You face complex decisions. Are you faced with more decision factors than you can get your arms around? Do your key operational computer systems lack intelligence? O.R. professionals can analyze complex situations and build intelligence into key systems, so as to reveal the truly best options. But before you act, talk with an O.R. professional to confirm that taking an O.R. approach will pay dividends.
2) You’re having problems with processes. One or more of your processes is broken or needs to work a lot better. Many small, day-to-day decisions are not being made well, and it’s having an impact on your bottom line.
3) You’re troubled by risk. Do you want to limit or reduce risk? Assessing the risk of a new project or contract can be tricky.
4) Your organization is not making the most of its data. Do you track information about your organization and have data that is begging to be used for decision making?
5) You need to beat stiff competition. Others in your field are probably using