Free Essay About Learning From Articles
Type of paper: Essay
Topic: Information, Supply Chain, Supply, Organization, Forecasting, Business, Science, Demand
Article 1: Forecasting and optimization combined
The article presents an interesting view on supply chain and the utilization of forecasting and optimization in order to manage the transportation networks. It becomes essential for companies as well as suppliers to ensure that they are able to manage an effective network based on optimized cost as well as ensure efficiency. Forecasting can help the organizations ensure that they are well prepared to fulfill the possible demand and ensure effective arrangement for supply chain to be reflexive. But at the same time it becomes important for them to ensure that they maintain better focus on developing an overall system that is crucially efficient and can help avoid opportunity losses.
One of the best things that I liked about this article is that it focuses on transportation as an integral element of the transportation system. It is focused on ensuring betterment of the network by improving the transportation system and ensuring smoother transition of products and goods from one place to another. It is important for an organization that it does consider the impact of the supply chain as well as forecasting and optimization in order to create a strong level of dynamism in the organization. It is important for the organization in present times to use forecasting as a tool for increasing competitiveness and forming better impact on efficiency of the supply chain. Forecasting accurately can help the organization obtain information which is crucial along with formation of better levels of movement within the system. In this way forecasting and optimization are extremely crucial. It is important for an organization to achieve better growth using effective forecasting and optimization methods in the organization. It can help create better efficiency in demand forecasting and demand fulfillment.
Article 2: The logistics of Valentine’s Day
Special days like Valentine’s Day and Mother’s day lead to a sharp increase in demand for flowers, roses especially. It is important for the supply chain to be extremely strong for suppliers to fulfill this demand and cash on the increased demand and hyped prices. In such cases, the supply chain has to be really strong. The logistics needs to be strong in terms of formation of a supply chain which has vehicles with refrigeration facility so that the roses and other flowers can be preserved. It is extremely important that the supply chain be supportive of these facilities in order to facilitate better quality of flowers.
One of the most interesting things mentioned in this article is that the supply of these flowers takes place 2 weeks before the actual event and so it becomes essential that lot of arrangements are made to preserve the flowers. A flower that usually withers within 2 to 3 days is preserved for a period of 2 weeks and this requires the logistics system to be extremely accurate. It is important that the focus remains on delivering higher value to consumers and this is possible by focusing on facilities that make supply chain and logistics more effective and efficient. Improving the transportation facilities and its speed has helped flower sellers achieve better business efficiency. In order to create a stronger business development for these markets and products, the supply chain is integral and extremely important as it helps the assurance of better movement of goods and services across different domains and markets with protection of quality of the goods. This helps form better achievement for the organizations as well.
Article 3: Interesting article on data analytics
Data is an extremely important element for all businesses as it helps them evaluate market conditions and achieve better competiveness. It also helps them understand and evaluate internal data and verify the forecasted data. In this way data scientists help businesses achieve better growth and better efficiency in their operations because of them being aware of the different aspects of the supply chain, demand, needs of the consumers and other information. It helps the business obtain better understanding of market dynamics and also helps the business ensure effective growth. It helps obtain better competency and preparations as well and so it is important that businesses appoint data scientists to help them grow.
One of the most interesting aspects of this article is that the data scientists are paid very well. But the fact is that understanding data is not an easy task. It is quite a challenging task, requiring competency, experience and intelligence. Moreover data scientists do provide economic value and better profitability for the business. So their compensation is quite justified to a great extent. Moreover data scientists not just obtain data, find relevance and filter data but also help managers interpret the trends and tendencies that are important for the business. In this way they help form the strategies of the organization not just on heuristics but on actual data. In this way it is extremely important that organizations appoint data scientists and retain them in order to improve their economic value. It is also important that businesses focus on delivering better to the consumers and this makes it essential for them to understand the needs of the consumer which requires them to synchronize with data scientists.