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Companies can monetize data internally to optimize operations and client services. They can also leverage that data across various client use cases.
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In Part 4 of our eight-part video series, we look at how digital simulation technologies like finite element analysis (FEA) make product testing more efficient and cost-effective in both short- and long-term contexts.
As busy as they are, leaders need to find ways to observe fundamental work processes in their organizations. When they do, they usually discover that there are gaps between theory and reality in how works get done. Michael Morales’ experience — in which identifying and addressing such gaps led to his company saving $50,000 in just 60 days — is a case in point.
Some people suggest that the concept of “big data” is nearing the end of its fifteen minutes of fame. They couldn’t be more wrong — because big data isn’t just about managing social media, unstructured data or massive data sets. It is an approach to data and analytics that finds new ways of looking at information — and it’s here to stay.
Looking for ways to keep the cost of materials and supplies low? In an article in the Spring 2009 issue of MIT Sloan Management Review, John A. Pearce II discusses the opportunities represented by product reconstruction.
In this downturn, some companies are trying cost-cutting measures such as reducing workweeks, offering or requiring unpaid time off, or cutting executive compensation.
Like most major change initiatives, going lean rarely looks good from the start. The operating efficiencies come quickly, yet sales and profits — for a while — get worse. The solution? Adopt a new financial reporting method that captures what’s really happening in the business.
There comes a time when corporate governance has little influence over performance, because competitive forces cut away at management fat. That’s according to researchers at New York University’s Leonard N. Stern School of Business, who studied the performance of companies before and after 30 anti-takeover laws were passed in different states between 1985 and 1991.
Effective product returns strategies and programs can result in increased revenues, lower costs, improved profitability and enhanced levels of customer service.
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