Webinar Recap – Top 10 Best Practices for Strategic Network Optimization
Last week, World Trade 100 hosted an insightful webinar laying out some of the important things you need to know about achieving ROI by streamlining and adding efficiencies to your supply chain network. Transplace’s Ben Cubitt and Prasad Mahajan gave a presentation with Alex Pulko from Zep Inc., focusing on proven methodology and tools, strategic planning and best practices for implementing a network optimization project.
Ben and Prasad shared details regarding the necessary effort needed for setting up the early stages of an optimization project that will be helpful over the long run – running and tweaking sample scenarios, compiling robust information and answering key questions about your organization can be critical. Taking the necessary time to ask questions and collect enough data right off the bat allows companies to examine their current supply chain profile and the specific challenges they may be facing in network. The success of the overall optimization project is inherently affected by how fundamentally solid your early stage planning is.
Interested in getting started on a network optimization strategy? Here are the top 10 best practices to keep in mind as you get started:
- Establish and maintain a strategic mindset throughout the study.
- Establish a multi-functional project team, assign roles.
- Perform sensitivity analysis, as network study outputs may have high variability to certain input changes.
- Document, validate, review and “challenge” every network flow. How does it move today, why, what optimization scenarios are possible?
- Make use of charts and maps to transform data into information – data is key!
- Run optimized baseline before diving into significant network changes.
- Brainstorm potential scenarios with full project team multiple times during the project.
- Model all network flows in the network. Fight the urge to simplify the model.
- Preconceived notions tend to limit the true power of network analysis.
- Keep change management in mind and carefully develop a transition plan to execute the network study blue print.
Are we missing anything? What topics would you like to see webinars cover in the future?