Difference between revisions of "ANLY482 AY2017-18 T1 Group2 Project EZLin Project Overview"
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<div style="background: #fcebea; padding: 12px; font-family: Arimo; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #bf1900 solid 32px;"><font color="#bf1900">Motivation</font></div> | <div style="background: #fcebea; padding: 12px; font-family: Arimo; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #bf1900 solid 32px;"><font color="#bf1900">Motivation</font></div> | ||
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| − | In any company that delivers a physical product or solution, supply chain has always been a huge challenge in the operations of the organisation. There are many established companies in the market that operate the supply chain in silos and treat it as another cost center without clearly identifying what constitutes the cost in the entire supply chain ecosystem. Our motivation therefore is to not only determine the various costs that are inherent in the client’s supply chain eco-system but to also determine what are the possible indicators that will allow our client to better predict its cost. | + | In any company that delivers a physical product or solution, supply chain has always been a huge challenge in the operations of the organisation. There are many established companies in the market that operate the supply chain in silos and treat it as another cost center without clearly identifying what constitutes the cost in the entire supply chain ecosystem. Our motivation therefore is to not only determine the various costs that are inherent in the client’s supply chain eco-system but to also determine what are the possible indicators that will allow our client to better predict its cost.<br/> |
Supply chain is not merely about transporting goods from one point to another. It begins from sourcing of the raw ingredients to manufacturing it in the plant and transporting it around, leading up to the final distribution with many intermediate contact points. With our background in Operations Management and Information Systems, we are keen to understand what are the costs involved in each stage and contact points of this supply chain through the huge amount of data available in the system. However, our motivation goes beyond just identifying the costs, as we believe cost is not just incurred from within an organisation. Many external factors such as the volatility of commodities has a significant impact on the overall cost incurred for an organisation such as our client, that relies heavily on raw materials. Therefore, we are excited to explore how the effect of external factors, coupled with internal factors, can possibly allow the company to have a better chance at predicting its cost and ascertaining its profitability. | Supply chain is not merely about transporting goods from one point to another. It begins from sourcing of the raw ingredients to manufacturing it in the plant and transporting it around, leading up to the final distribution with many intermediate contact points. With our background in Operations Management and Information Systems, we are keen to understand what are the costs involved in each stage and contact points of this supply chain through the huge amount of data available in the system. However, our motivation goes beyond just identifying the costs, as we believe cost is not just incurred from within an organisation. Many external factors such as the volatility of commodities has a significant impact on the overall cost incurred for an organisation such as our client, that relies heavily on raw materials. Therefore, we are excited to explore how the effect of external factors, coupled with internal factors, can possibly allow the company to have a better chance at predicting its cost and ascertaining its profitability. | ||
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<div style="background: #fcebea; padding: 12px; font-family: Arimo; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #bf1900 solid 32px;"><font color="#bf1900">Objectives</font></div> | <div style="background: #fcebea; padding: 12px; font-family: Arimo; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #bf1900 solid 32px;"><font color="#bf1900">Objectives</font></div> | ||
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| − | + | The aim of our project is to help Johnson & Johnson supply chain department, to identify any analytics trends and patterns in their current budget spending when they purchase raw materials of baby oil. We will identify any descriptive analytics patterns which helps to save on their budget. At the same time, based on the patterns, predictive analytics will also be conducted in this project. Johnson & Johnson will be able to foresee any inflation in the price of the raw materials from this project. | |
| + | The objectives of this project are: <br/> | ||
| + | 1. To summarise the information of the raw materials prices based on different criteria such as volume, flavour, percentage of ingredient and etc <br/> | ||
| + | 2. To determine the most cost-efficient budget plan based on the criteria <br/> | ||
| + | 3. To identify the clustering factors and determine their effects on each other <br/> | ||
| + | 4. Build a model to analyse and foresee the inflation of prices for raw materials <br/> | ||
| + | |||
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Revision as of 21:07, 26 August 2017
In any company that delivers a physical product or solution, supply chain has always been a huge challenge in the operations of the organisation. There are many established companies in the market that operate the supply chain in silos and treat it as another cost center without clearly identifying what constitutes the cost in the entire supply chain ecosystem. Our motivation therefore is to not only determine the various costs that are inherent in the client’s supply chain eco-system but to also determine what are the possible indicators that will allow our client to better predict its cost.
Supply chain is not merely about transporting goods from one point to another. It begins from sourcing of the raw ingredients to manufacturing it in the plant and transporting it around, leading up to the final distribution with many intermediate contact points. With our background in Operations Management and Information Systems, we are keen to understand what are the costs involved in each stage and contact points of this supply chain through the huge amount of data available in the system. However, our motivation goes beyond just identifying the costs, as we believe cost is not just incurred from within an organisation. Many external factors such as the volatility of commodities has a significant impact on the overall cost incurred for an organisation such as our client, that relies heavily on raw materials. Therefore, we are excited to explore how the effect of external factors, coupled with internal factors, can possibly allow the company to have a better chance at predicting its cost and ascertaining its profitability.
All in all, we are keen to work on this project as it allows us to apply what we have learned to a real world business problem. As daunting as this is, it will be interesting to discover whether our analysis and recommendation has a positive effect on an actual business challenge.
The aim of our project is to help Johnson & Johnson supply chain department, to identify any analytics trends and patterns in their current budget spending when they purchase raw materials of baby oil. We will identify any descriptive analytics patterns which helps to save on their budget. At the same time, based on the patterns, predictive analytics will also be conducted in this project. Johnson & Johnson will be able to foresee any inflation in the price of the raw materials from this project.
The objectives of this project are:
1. To summarise the information of the raw materials prices based on different criteria such as volume, flavour, percentage of ingredient and etc
2. To determine the most cost-efficient budget plan based on the criteria
3. To identify the clustering factors and determine their effects on each other
4. Build a model to analyse and foresee the inflation of prices for raw materials
Text here
