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Category Archives for "Strategic Supply Chain Simulations"

Data DATA Everywhere – Not A Drop to Drink…

I had some personal experience in 1990 with the ancient mariners’ rhyme or The Rime of the Ancyent Marinere:

Day after day, day after day,
We stuck, nor breath nor motion;
As idle as a painted ship
Upon a painted ocean.

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Ten Reasons Why Your Business Network is Your Business’ Net Worth, and, How To Make the Most of it?

The simplest definition of business is to sell or buy the goods or services. Though, It may define the trading style of the past centuries but now business is not that much simple. One need to compete strongly to stay in the market, to be the best in every sense and above all being a part of business network is almost inevitable. Joining a network is not at all about catching the bandwagon instead it’s a shield which saves you in more than a dozen ways. In other words you can say that your business network is your business’ net worth. Hows and whys are discussed here:

1. Like Nokia like Network… connecting people

Business network works almost in similar way to the Nokia slogan “ connecting people”. People live in society to avoid isolation and same thing a businessman do by joining an already existing network or creating his/her own network. It serves as a platform to share the ideas and knowledge, to meet new ones, to guide them and get the guidance from the experienced ones. Find out more about how a business network enables connection among the business men here: http://www.forbes.com/sites/geristengel/2013/04/24/6-ways-women-can-power-up-their-businesses-with-networking/

2. Source of practical information

You can learn 100s of the tricks from a book to sell your service or product but only the information which you gained through market research can reveal that what actually the customers want. Loyal and trustworthy friends in a network offer this unique and 100% relevant information. Its better to find few trust worthy people instead of expanding the network to the endless limits.

3. A realm of similar people with similar interests.

In “5-Star Business Networks” Vivek Sood, famous business writer, recalls that how he found a group of trustworthy and loyal people ready to share their ideas at Linkedin.com. You may find it interesting to read the whole story and his view point about how joining networks positively effects the business here. http://www.amazon.com/The-5-STAR-Business-Network-Corporations/dp/061579419X Same thing happens when you become part of a network. Joining a business network enables you to find people with common interests and goals similar to yours. Their knowledge and first hand information improves your understanding towards the business.

4. Makes yourself more visible

You may find it difficult to meet new people but in order to expand your business or to brighten your career it is highly recommended to make yourself as much visible as possible. The easiest way to do so is to join a network where simply interacting with others can do wonders for you and your business as well. Wisely chosen or created business network offers you the right place with the right people, to do the business.

5. Recruiting Platform:

No matter whether you need to recruit or to be recruited, in either sense business network can be helpful. By making yourself visible in your network, you can easily be remained in the mind of those who are the part of this network. Business network works like referral programme where the most visible ones are highly refered as well. Once you get referred or having a referral, respond positively. It will create more chances for you in future.

6. Refines communication skills.

When we discuss business networking, it also means communication between the two individuals. This interaction helps in learning that how a team leader deals with the staff or how a businessman responds in a crucial matters and takes decision. Business networks enable to learn the suitable human behaviour in various situations. Keep interacting with others because only the practice will bring perfection to your communication skills.

7. Refines Target market

Every businessman goes for some market research to find its target market where the offered service or product is highly needed. The loyal and trustworthy members of the business networks help in cutting down the research expenditures and directly targeting the refined market. You may also share your knowledge to strengthen this bond because business network is all about mutual interests.

8. Your network is your personal asset too!

Remember that you are social being at first and to keep socializing is the basic need of any human being. Business network built on pure relationship is one of the most precious assets you have. So don’t hesitate in making strong relationships much more worthy than your business. For more information on the topic , please follow the link: http://www.cbsnews.com/8301-505125_162-28245723/10-reasons-why-your-network-is-your-biggest-asset/

9. Networking ,the top CBM for today’s business

The concept of business rivalry is fading because the concept of business network has made it possible for the key rivals to sit on a same table or to connect via internet and discuss the common interest of each other and threats being faced .Thus, business networking is working like confidence building measure for the two rivals. Not only the rivals, the two strangers connected through a network also start believing in each other because of the connection built through this network.

10. Business Network-a multiplying factor

Business network is all about mutual trust, which leads to cooperation and finally makes it possible to have a multiplying factor in each sense. This mutual cooperation can lead to the joint ventures or increase in investments and much more. You only need to focus on strengthening your relationships with other members of the network. Be loyal and trust them to get the same in return. For more tips you may follow the link: http://business.financialpost.com/2013/05/27/6-tips-on-how-to-get-the-most-out-of-business-networking/ Using the web for your business is an art and those those who are running their business from home, surely needs mastery because here the situation is quite different from the ordinary business. The guardian pays more light on the issue in the following link: http://www.theguardian.com/small-business-network/2013/feb/25/niche-business-networking-groups

The Mysteries of Supply Chains

I have been asked this question a lot on Quora, as well in my board and other speeches. A lot of supply chain commentary is becoming too technical and mysterious. Supply Chain Software sellers have a vested interest in creating the mystique – similar to what McKinsey used to do about 20 years ago. But Supply Chain Management (SCM) need not be mysterious. Remember, if someone cannot explain it easily enough – they do not understand it well enough.

The purpose of one of my books – Unchain Your Corporation – was precisely this – to demystify the supply chains. This books is written for layperson, can be read in 2–3 hours, and had more than 200 stories and anecdotes to help the readers use complex concepts.

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Supply Chain Software sellers have a vested interest in creating the mystique – similar to what McKinsey used to do about 20 years ago. But Supply Chain Management (SCM) need not be mysterious. Remember, if someone cannot explain it easily enough – they do not understand it well enough.

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At its core, SCM is just about two things – integration, and optimisation.

Integration of various functions (purchasing, production, logistics, inventory management, finance, sales) within a company. And, Integration of of various companies that form a supply chain together to serve an end consumer.

Optimisation – is the art of getting the best results from the same inputs. You will be surprised to know that most GPS software do not even give you the optimum route even if they have real-time traffic information. The key to testing optimisation is by doing the same exercise manually and comparing against the results of the software. There are clearly degrees of Integration and Optimisation. Higher levels of Integration and/or Optimisation will lead to higher level of efficacy in supply chains.

See the figure below – that comes from one of my board speeches:

supply chain managment

If you supply chain consultants are not telling you these two simple truths, then all the talk of automation, big data software and driverless vehicles is a pipedream without a purpose.

And, if your Supply Chain MBA is not teaching you these two basics then you might have wasted 2 years and thousands of dollars.

Here is why… …Everything else in supply chain stands on those two foundations. Your supply chain relationships are part of integration effort, and automation is part of optimisation effort.

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