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What’s happening this week at the intersection of management and technology: how to avoid digital black swans; partnering with early-stage startups; the trouble with wearables.
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Multi-sourcing can lessen the risk of supply chain disruption. But it introduces new risks of its own. Companies should explore five questions before moving forward: Are all the sources in the same geographic area? What will it cost to develop a second supplier? How compatible is the alternative source? Are the additional CSR risks worth it? And will primary suppliers start holding back their new innovations?
Professor Theodore Stank, co-author of “Integrating Supply and Demand” from MIT SMR’s Summer 2015 issue, joined contributing editor Steven Paul to present his research on how some companies have bridged the perennial divide between demand generation and the supply chain in a way that maximizes the value to their customers and to themselves. Professor Stank described how to avoid having sales generation become disconnected from the operations required to fulfill that demand.
Most large corporations are saddled with fragmented analytical processes, limiting their ability to operate with agility, flexibility, and insight. As a result, larger firms are often challenged when it comes to innovation and responsiveness. But Big Data approaches that enabled the flexibility and rapid growth of newer, smaller firms are being adopted by mainstream corporations. The goal: overcome legacy challenges and introduce greater corporate speed.
Hong Kong’s premier airline is using a blend of data and know-how to guide its daily operations. In an interview with MIT Sloan Management Review, Cathay Pacific CIO Joe Locandro describes how the airline uses analytics to make decisions that balance data with what it knows from the field. “Analytics will give you statistical spreads, give you training, but you still need to have this thing called experience and insight,” he says.
Using analytics to guide your business decisions sounds like a great idea — until your company falls prey to one of the four common mistakes that consultant James Taylor says many businesses make. At a recent Boston seminar, Taylor outlined these errors and offered steps for how companies can avoid them.
Although executives understand the difference between efficiency and responsiveness, many are confused about when to apply each strategy. In recent years, companies have been caught in the bind in which Dell Inc. found itself in 2008, when it needed to transform its supply chain to serve new customers in new channels. The question was: how to do that? Dell decided to create multiple supply chains, configured so that the company could reduce complexity and benefit from economies of scale.
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