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Optimizing Complex Decisions
Linear Programming Formulation
Demonstration of the Spreadsheet Optimization Method
The above article address the application of linear programming. One can understand how to use the solver for a particular problem Read more on this free link
Linear Programming with Spreadsheets - Learn how to use spreadsheets to solve linear programming problems graphically. As a manager of a company, you always have finite or limited resources, and top management's expectation is for you to make the most out of it. From time productivity to capital utilization, land to labor, and from supply chain to production-almost everything you do is to optimize productivity Read more on this free link
Linear Programming Problem formulation by Prof. A. Goswami & Dr. Debjani Chakraborty, Department of Mathematics, IIT Kharagpur Read more on this free link
As business decision-makers deal with the critical question of “what action should we take”, they are often grappling with millions of decision variables, constraints, and trade-offs. Prescriptive analytics solutions enables accurate decision-making for complex problems by providing tools for building and deploying optimization models that are mathematical representations of business problems Read more on this free link
In Supply Chain Management, Project Management, and Manufacturing, Lead time refers to the time taken – or allowed for – between the start and completion of an Operation or Project Read more on this free link
With ever more data being generated across modern businesses, companies are looking for actionable intelligence to drive optimization, increase margins and avoid supply chain distributions. The sheer volume of data can make it difficult to see trends; this is where machine learning is a revolution for business intelligence Read more on this free link
The real-life example from the practice of CNC metalworking machines manufacturing company to create an optimization model: limited machines number considering some technological restrictions about details processing order, machines processing order for each detail, availability of the machines and operations time durations Read more on this free link
How real-time data and digital twins are helping Rolls-Royce improve engine sustainability Read more on this free link
Feature selection is one of the important step for improving the performance of the analytics, which can be done by various method Read more on this free link
How Big Data Drives Success At Rolls-Royce - Rolls-Royce serves as a great example of an industrial giant of the “old age” – when innovation was about forging the future through steel and sweat – transitioning to the new age of data-enabled improvement and efficiency. Their vision of a future where planes, trains and automobiles operate with minimal human interaction – with us placing our trust in their superior speed and ability to process huge amounts of data far more quickly than we can ourselves – might seem like science fiction, but we are likely to see more and more of it appearing in the real world in the near future. Read more on this free link
A Modern Guide to Product Segmentation- Product segmentation refers to the grouping of products that have similar characteristics or attributes and serve a similar market. It’s an opportunity to identify and satisfy the needs of multiple customers who have similar but different requirements within a given market. What is product segmentation and which factors influence it are nicely discussed with examples in the link Read more on this free link
There are several techniques to evaluate the success of your classification model, but none as intuitive as the confusion matrix. It enables us to assess how well our model performed, identify where it went wrong, and provide recommendations on altering our course Read more on this free link
Business model innovation of Rolls Royce - Future competition no longer occurs between products or processes, but between business models. This link mentioned below shows how business model innovation can be successfully implemented Read more on this free link
An exploration of supply chain management practices in the aerospace industry and in Rolls-Royce Read more on this free link
Operational Predictive Maintenance: big data and advances in machine learning allow us to Significantly reduce unplanned asset / machine / infrastructure downtime Read more on this free link
The most dominant research methods of the digital supply chain consist of technologies, digitization, integration, collaboration, and coordination Read more on this free link
Principal Component Analysis (PCA) is one of the most popular and perplexing approaches in Machine Learning (PCA). PCA's usefulness is what makes it so attractive Read more on this free link
Making a statistical decision always involves uncertainties, so the risks of making type -I and type-II errors are unavoidable in hypothesis testing. Risks of making these errors can be minimized through careful planning of model design Read more on this free link
How to Create a Culture That Enables a Data-Driven Supply Chain - In a recent study from Accenture, 97 percent of the senior executives surveyed see great value in creating a data-centric culture, yet only 17 percent had actually gone on to implement a big data strategy in their business. David Simchi-Levi examines this incongruity and reveals how business leaders can transform their company into a data-driven enterprise Read more on this free link
A Step-by-Step Explanation of Principal Component Analysis (PCA) - The purpose of this article is to provide a complete and simplified explanation of Principal Component Analysis, and especially to answer how it works step by step, so that everyone can understand it and make use of it, without necessarily having a strong mathematical background Read more on this free link
The above article address the role of alliance to strengthen the data analysis of Rolls Royce particularly during the COVID-19 Pandemic Read more on this free link
Supply Chain News: Pricing Optimization Juices Bottom Line at eTailer Rue La La - Program with MIT Raises revenues about 10-13% for Flash Sales Leader Read more on this free link
Analytics for an Online Retailer: Demand Forecasting and Price Optimization – This presents a study of an online retailer, Rue La La, as an example of how a retailer can use its wealth of data to optimize pricing decisions on a daily basis. Rue La La is in the online fashion sample sales industry, where they offer extremely limited-time discounts on designer apparel and accessories Read more on this free link
This article gives an overview of principal component analysis, its use, and how to apply it Read more on this free link
These links describe an overview of the digitization of supply chain management, how new trends and technologies such as big data, cloud computing, and the internet of things can be applied to overcome the challenges of digital supply chain integration.
AI and Machine Learning For Fashion Industry: Different types of statistical approaches, such as time series analysis, regression analysis, and multiple factor analysis, have been utilized for fashion sales forecasting apparel manufacturing decision-making, and textile sensory evaluations.
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