Quantitative Methods for Optimal Business Decision-Making
Quantitative methods such as Data Science, Operations Research, and Forecasting are proven techniques for making optimal business decisions based on existing data. Using Linear Programming techniques, the mathematically optimal solution for a wide range of problems can be determined, including the allocation of production or labor capacity and investment decisions. These mathematical calculations can even be performed in MS Excel with the right modeling expertise.
When a problem involves a very large number of variables, a Linear Programming approach may not always find the best solution within an acceptable timeframe. However, our experts can develop an algorithm that provides an almost ideal solution for your problem. This can also be implemented without the need for dedicated software: it can be integrated into an MS Excel workbook, or we can deliver the algorithm in Python or R. These algorithms can quickly evaluate and compare different solutions to ultimately find the optimal one.
While these methodologies are not new, their application is often limited to the largest organizations. Given the increasingly mature data within most organizations, we see no barriers to the broad application of these techniques. We consciously choose a different approach than our competitors: many large providers in this market have invested tens of millions in developing methodologies that can calculate a 99.99% optimal solution for hundreds of thousands of variables within a minute. They then package this knowledge into attractive software solutions. The result? Often, an expensive software subscription that may not fully address your specific problem. At Supply Value, we use a pragmatic, focused approach. We always start with your needs and make the model only as complex as necessary to solve the situation at hand.
By working within the digital environments already present in your organization, using proven techniques, and collaborating with your team, we can quickly deliver a fitting solution: more value in less time.
Crucial to the success of our projects is that we go beyond the numbers. We distinguish ourselves with effective visualization techniques and dashboarding, as well as our extensive experience in project and change management and a broad understanding of organizations. This means we go beyond just analysis and delivering a report. After all, our motto is: “We make strategy work.”
Our quantitative methods are applicable to a wide range of issues, including:
- How do I make decisions about production times and locations?
- How can I optimize my inventory management?
- How can I consistently meet my customers’ requirements?
- How can I best support my Sales & Operations Planning (S&OP) process?
- How can I optimize my transportation routes?
- How can I minimize the transportation of empty containers?
- How can I efficiently manage different transportation modalities?
- What is the potential for cost savings through broader planning?
- How do I make the best choice between internal transport and outsourcing?
- How can I optimize my workforce planning?
- Which projects are the best investments right now?
- How can I best organize my warehouse space?
- Where should I open a new location to best serve our customers?
Our strength also lies in addressing less obvious issues, so we are eager to hear about the challenges you and your organization face. Let us help you find the optimal solution.