To forecast the future, marketing leaders often look to the past. But the past isn’t always a very reliable gauge of future conditions. For proof, we need to look back to a day-in-the-life of a turkey, and implications of not preparing for possible “extreme” events around the corner.
First, let…
Continue reading "Of Risk Control and Thanksgiving Turkeys"The global financial crisis of 2008 and beyond has shaken countries, markets, and individuals, in turn causing increased pessimism, angst and even anger. And yet, for those wishing for things to “return to normal”, a new survey argues that we’re in the “new normal”. What are the lasting impacts of…
Continue reading "The Great Recession: Things Are Different Now"“Inventory is bad, inventory is evil,” finance and operations professors intone across business schools worldwide. And every B-school graduate knows companies should balance enough inventory to meet customer needs while accommodating shifting preferences. That said, companies face a paradox;…
Continue reading "Is Inventory Still Evil?"Will tomorrow be like today? In planning assumptions for budgeting and forecasting, most marketers believe that events of tomorrow, next week and next year will be much like this year, or years past with just slight deviation. However a review of the global and economic landscape (in a wild 2008)…
Continue reading "Don’t Forget The Turkey!"Mathematical modeling is helping companies across the globe forecast more accurately, optimize supply chains, assess risk, and keep customers from churning to competitors. However, recent market conditions (i.e. credit crisis) have shown that while models can provide an “air of certainty”, solely…
Continue reading "Can Mathematical Modeling Be Trusted?"