Using Advanced Analytics to Improve Operational Decisions

BCG

Operations leaders routinely make critical decisions across the entire value chain. However, many operations leaders must climb a steep learning curve to understand the best ways to apply advanced analytics. Article Thursday, December 15, 2016.

Mapping heavy industry’s digital-manufacturing opportunities

McKinsey

Manufacturing digitization could boost heavy-industry profit margins by three to five points—but only if people can make the new technologies work at scale. Insights on OperationsThe first article in a new series looks at the opportunity and the sector’s progress.

7 Ways to Improve Operations Without Sacrificing Worker Safety

Harvard Business

I thought immediately of BP and the other industrial giants whose “accelerating cost reductions” had disastrous consequences. These kinds of statements speak to a leader’s choice of values, and a failure to understand the relationships between a safe work environment and operational performance. The reality is that virtually all workplace injuries are preventable, and safety management and operational excellence are intimately linked.

The Insurance Industry Needs an Intervention

Strategy+Business

Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations

Creating the Industrial Ecosystem

McKinsey

The day before the main event I was included in the Industry Analysts visit to the Siemens Technology Center, at Neuperlach in Munich. Siemens is in some highly competitive industrial markets. Getting the balance right is crucial for all Industrial digitally aware organizations.

Figuring Out How IT, Analytics, and Operations Should Work Together

Harvard Business

A new set of relationships is being formed within companies around how people working in data, analytics, IT, and operations teams work together. For IT to operate in the data and analytics space often takes realigning roles and responsibilities. Analytics Operations IT Digital Articl

The trillion-dollar opportunity for the industrial sector: How to extract full value from technology

McKinsey

As data, connectivity, and processing power expand, so do opportunities for industrial companies to extract value through innovative products, services, operational efficiencies, and business models. The digital revolution is just beginning. Digital Insights

Consolidation in Europe’s Airline Industry

BCG

But there is more turbulence ahead: Brexit, increasing industry capacity, and competition for long-haul traffic from low-cost and high-­service Middle Eastern and Asian carriers are likely to undercut the profitability of European full-service carriers (FSCs).

Getting an Intricate Operation Back in Sync

Harvard Business

Facing interconnected operational issues, members of the eight-person senior leadership team were turning against one another. Essentially it is a fresh start, and it can begin any time we have an operational breakdown, to remind people of the need for change and continual improvement.

Managing Change in the Oil and Gas Industry

BCG

Through its vertically integrated operations, the company controls all aspects of the value chain—from exploration, extraction, and production to refining and distribution—and employs more than 106,000 people worldwide. Video Tuesday, November 01, 2016.

For Beginners: A Roadmap into the Consulting Industry

Tom Spencer

Simply put, management consulting is a profession that requires practitioners to possess solid and wide business common sense, deep professional knowledge in 1-2 domains (such as Marketing, Retail, Operation), and most importantly, intellectual capability to solve complicated business problems for clients. The management consulting industry is far from being a big mono chunk. A whole value chain exists in this industry.

IoT Disruptions in 3 Industries and What You Can Learn From Them

Tom Spencer

In this article, you will learn about three industries in which IoT disruptions are likely to have a major impact. These systems can broaden operational efficiencies and improve public and road safety.

Time to Accelerate in the Race Toward Industry 4.0

BCG

Throughout the world, companies recognize that their success depends on adopting the new digital industrial technologies that are collectively known as Industry 4.0. We found that, so far, companies in the two countries have implemented Industry 4.0 Focus Thursday, May 19, 2016.

The Insurance Industry Needs an Intervention

Strategy+Business

Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations

What’s ahead for industrials?

McKinsey

To stay competitive, companies need to sustain momentum while developing new capabilities, offerings, and operating models. Our Insights

50 Foreign Companies Operating in France Sound the Alarm

MishTalk

Via translation from Les Echos , please consider 50 Foreign Companies Operating in France Sound the Alarm. The case is not indifferent: 20,000 companies share our identity, employ 2 million people, or 13% of the employed population, fourth in the industrial sector alone. We contribute about 29% of French industry sales, providing a third of French exports. We contribute 29% of French investment and provide 29% of the R & D companies operating in France.

The Dirty Little Secret About Digitally Transforming Operations

Harvard Business

Earlier this year, we walked the halls of the Hannover Messe, one of Europe’s largest events for industrial manufacturers. The newest robots, 3-D printing systems, and data-mining hardware and services were all there along with a host of people hyping Industry 4.0,

Western Europe’s consumer-goods industry in 2030

McKinsey

To succeed in the next 15 years, manufacturers will need to stretch their operating models in new directions. Our Insights

How a Digital Storm Will Disrupt the Parcel and Express Industry

BCG

You shake your head and wonder, What happened to my industry? They’ve spent decades building highly efficient operations and dominant market share. Their market power and margins may erode, until they wake up in a very different kind of industry.

B2C 94

The offshore-wind industry’s moment of reckoning

McKinsey

The days of stable and relatively high revenues are ending for Europe’s offshore-wind developers, owners, and operators. Making money on tomorrow’s low-price projects will require a new degree of discipline. Insights on Sustainability & Resource Productivity

Consumerized Healthcare: More Aspirational than Operational

1 to 1

The healthcare industry is undergoing a massive change as federal regulations and consumer expectations align, transforming an industry that has an infamously poor customer care record.

Great Businesses Scale Their Learning, Not Just Their Operations

Harvard Business

Historical studies of the Industrial Revolution have shown that there was a significant lag between the introduction of new industrial machinery into the workplace and resulting productivity improvements because it took time for workers to develop the skills required to get the most value out of the machinery – skills that could only be taught in a very limited form because they had to be adapted to specific contexts and needs.

How Industrial Firms Invest in Renewable Energy, Affordably

Harvard Business

It sounds like an easy win-win, but industrial companies have had a harder time making it all work for two key reasons: costs and accounting. First, due in large part to the scale and consistency of their energy purchasing, industrials already pay the lowest rates for power.

Startups Could Fundamentally Change the Way Big Investors Operate

Harvard Business

Innovation has the potential to transform the investment industry. This reliance has evolved because despite the enormous volumes of capital they control, most of these giants are strictly “firewalled” and cannot use the capital to fund actual operations, even if doing so would generate higher expected investment returns or lower risk.

Differentiate yourself by taking a stand against something you don’t like about our industry

Rod Burkert

What pisses you off about our industry? What if you stood out by promising something different than the standard operating procedures your competition follows? One way is to differentiate yourself by taking a stand against something you don’t like about our industry.

It’s Always the People; Whether Operating, Buying, or Selling a Business

Martinka Consulting

Almost everybody in my industry has a story or two about how a business seller sold to someone for less money because of the relationship. The post It’s Always the People; Whether Operating, Buying, or Selling a Business appeared first on Martinka Consulting. On Tuesday, August 16, 2016 the Wall Street Journal had a major article titled, “ The Company Town That Chocolate Built.”

3 Reasons Why LYFT Is “Winning” The Ride Share Industry

Cheryl Cran

It appears that recently the brand equity of Lyft is ‘winning’ in the ride share industry. Here are 3 Reasons Why Lyft Is “Winning” In the Ride Share Industry: Lyft has always focused on treating people well. Being the “little guy” in an industry can create major opportunities.

Labor unions in a post-industrial age

Seth Godin Blog

Industrialism is based on doing a difficult thing (making something) ever cheaper and more reliably. Or if the unions had pushed hard for more and better robots, together with extensive education to be sure that their workers were the ones designing and operating them?

Why the Middle East’s Petrochemical Industry Needs to Reinvent Itself

BCG

Article Monday, November 07, 2016 Multiple market disruptions—including the shale gas renaissance in the United States, plummeting oil prices worldwide, and a capacity expansion drive in China and Iran—are reshaping the Middle East’s petrochemical industry. Slowing growth rates in the global chemicals industry will only worsen the problem.

Why the Middle East’s Petrochemical Industry Needs to Reinvent Itself

BCG

Article Monday, November 07, 2016 Multiple market disruptions—including the shale gas renaissance in the United States, plummeting oil prices worldwide, and a capacity expansion drive in China and Iran—are reshaping the Middle East’s petrochemical industry. Slowing growth rates in the global chemicals industry will only worsen the problem.

How to Turn Intangible Concepts into Tangible Services

The More Clients Blog

This isn’t anything your client companies don’t know, it just proves you know your clients’ industry and the challenges they face. What automated processes would be in operation? What are you actually selling? Some say a concept, an idea, a benefit, or value.

How Smart Speakers Are Poised to Reinvent the Travel Industry

Harvard Business

How companies are using artificial intelligence in their business operations. Below, we examine three strategies that should not only keep traditional travel companies connected with customers, but also may lead to a healthier industry and a better travel experience overall — partnering with Amazon and Google, leveraging loyalty programs, and adapting content while protecting branded search. HBR Staff/Victor Cardoner/Getty Images.

Does It Pay to Hire Consultants? Evidence from the Bordeaux Wine Industry

Harvard Business

Consulting is pervasive in many industries. To evaluate the impact of hiring consultants and to figure out when they might offer the most value, I turned to the wine industry , where over two-thirds of wineries hire consultants to improve the quality of their wines. The wine industry is no exception. In the Bordeaux wine industry the terroir is the main resource. Operations management Consulting Digital ArticleYet the use of consultants remains controversial.

How to Turn Intangible Concepts into Tangible Services

The More Clients Blog

This isn’t anything your client companies don’t know, it just proves you know your clients’ industry and the challenges they face. What automated processes would be in operation? What are you actually selling? Some say a concept, an idea, a benefit or value.

What’s Driving Superstar Companies, Industries, and Cities

Harvard Business

Some superstar firms benefit from being in “superstar” sectors of activity, particularly those in which value-added gains go to gross operating surplus (an economic measure that represents the income earned by capital). Apexphotos/Getty Images.

Why Are We Still Classifying Companies by Industry?

Harvard Business

For more than 60 years, investors, analysts, business leaders, and even governments, have classified companies based on industries. Industry walls are disintegrating at a rapid pace. Today, technology is just a standard part of corporate infrastructure, like operations or marketing.

Blockchain Could Make the Insurance Industry Much More Transparent

Harvard Business

While Edward Lloyd is largely credited with commercializing the insurance industry, with the creation of his namesake firm, Lloyd’s, over 330 years ago, the original concept of spreading risk (or “mutualizing”) goes back even further. Both then and in 1686, when Lloyd’s was born in a London coffee house, the global insurance industry was a business of utmost good faith , as it remains today.

German Manufacturing Is Leading a Digital Industrial Revolution

Harvard Business

Operations in a Connected World. With real-time monitoring and improved analytics, German machine operators are also increasingly avoiding replacing parts too early or too late.

What GM’S Layoffs Reveal About the Digitalization of the Auto Industry

Harvard Business

” By that, we mean that GM’s layoffs significantly reflect the talent and workforce strains associated with the diffusion of digital and electronic technologies into nearly every industry, business, and workplace in America. Prapass Pulsub/Getty Images.

How the Water Industry Learned to Embrace Data

Harvard Business

The water industry is using digital technologies and analytics to derive more value from its physical assets. Although members of the water industry have found success using digital technologies and analytics, they’ve also faced challenges when trying to transform the roles and mindsets of their employees and their internal- and customer-facing processes. In many parts of the world, the increased operational and infrastructure costs are simply passed on to consumers.