Intro to Inventory Mgmt – OM in the News

How Digital Data Enables Strategic Fit

While Carhartt traces its roots back 133 years, the company is now implementing digital tools (cloud, analytics, artificial intelligence, etc.) to improve its overall supply chain operations.

To implement process improvements, data must be timely, accurate, and relevant. A common expression amongst operations leaders: for something to be “meaningful” it also needs to be “measurable.” Hence the requirement for real-time data analytics.

Carhartt continues to improve its operational capabilities—for example increasing factory automation—as a means to further enhance a differentiated business strategy […]

By James Kirby Easterling|2023-01-04T07:24:05+00:00January 8, 2023|Tags: analytics, artificial intelligence, automation, data mining, inventory management, logistics, MRP, operations strategy, strategy, supply chain mapping, warehouse|

Restaurant Pricing Tactics

Inflation is hitting restaurants especially hard on the supply side, as they are paying more for ingredients and increased labor costs. From the revenue side, customers impacted by inflationary pressures on food and gasoline are reducing their spending for eating-out.

The combination of increased costs and reduced revenues serves to reduce restaurants’ profit margins.

Restaurants have to seek ways to maintain customer traffic, while still maintaining profit margins. Two techniques gaining popularity are dynamic pricing and barbell pricing.

Dynamic pricing, also referred to as […]

By Ross L. Fink, Ph.D.|2023-01-02T06:03:36+00:00January 1, 2023|Tags: aggregate planning, artificial intelligence, dynamic pricing, forecasting, inflation, inventory, pricing, restaurant, yield management|

Subway’s Vending Fridge

Subway is adding smart fridges to its Grab and Go platform, which began in 2020 and sells sandwiches at more than 400 non-traditional locations including airports, college campuses, and gas stations.

The newest entry for Grab and Go is the smart fridge. First introduced at the University of California San Diego in September 2022, Subway has plans for further fridges at non-traditional locations. The smart fridge features AI that allows customers to talk to the fridge, including asking questions about what’s […]

By Ross L. Fink, Ph.D.|2022-12-15T17:40:42+00:00December 15, 2022|Tags: artificial intelligence, automated processes, forecasting, inventory management, location planning, technology|

Restaurants Flex Their Strategic Muscles to Fight Inflation

After COVID, inflation is now a major threat to restaurants’ financial viability.

How have they responded? By relying on their competitive strengths in operations. Big chains have used their size to control purchasing costs, whereas mom and pop restaurants have emphasized their authenticity and superior quality. Both are attempting to maintain customer loyalty and mitigate new threats with existing assets and resourcefulness.

Video Spotlight: Restaurants Grapple with Rising Costs (September 15, 2022, CNBC Television)

This post is based […]

By Corinne M. Karuppan, Ph.D.|2022-12-07T21:49:13+00:00December 8, 2022|Tags: competitivness, economies of scale, mix flexibility, product quality, service quality, strategy, value analysis|