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The Myths and Benefits of Forecasting and Inventory
Optimization for Your Supply Chain

When: Tuesday, June 11 | 1:00 pm - 4:00 pm 
Where: Room 45 - Team Development Track
Level: Intermediate
Participant Type: Buyer/Planner, Manufacturing, Product Management, Purchasing, Supply Chain Management

 

Description

Device companies and their supplier partners seek smarter forecasting tools to avoid the long lead time and capacity fluctuation that impact orthopedic manufacturing. To that end, and by popular demand, we’ve brought back Factory Physics® pioneers Mark Spearman, Ph.D., and Ed Pound to share with you operations science concepts that provide ground-breaking, practical ideas for analyzing and optimizing your supply chain operations. Interactive exercises reinforce the learning and help translate them to your unique business. You can expect to apply your new knowledge immediately upon return to your office.

Attendee Takeaways

  • Learn an objective framework for evaluating and using your organization’s continuous improvement
    efforts more effectively
  • Understand performance curves for inventory optimization in single and multi-echelon supply chains
  • Participate in exercises that demonstrate the dynamics of inventory, capacity, cost, response time and
    forecasting in the supply chain

Speakers

Mark L. Spearman, Ph.D., is Director of Technical Solutions for Strategic Project Solutions. Dr. Spearman has over 30 years of experience in the optimization of manufacturing supply chains by improving on-time delivery, increasing productivity and reducing cycle times and inventories. He founded Factory Physics Inc., which was acquired by Strategic Project Solutions in 2018. Dr. Spearman pioneered Operations Science, providing a comprehensive scientific framework to control and optimize the operations of any industry. He is the co-author of the award-winning book Factory Physics and of McGraw-Hill’s lead business title, Factory Physics for Managers. Both books are used around the world at leading companies and universities to implement and educate on best practices in operations management. Dr. Spearman holds a Ph.D. in Industrial Engineering from Texas A&M University and has been a tenured professor at Northwestern University, Georgia Tech and Texas A&M.

Edward S. Pound is Director of Production System Optimization for Strategic Project Solutions and lead author of McGraw-Hill's lead business title, Factory Physics for Managers. Mr. Pound was COO of Factory Physics for 16 years until it was acquired by Strategic Project Solutions. He has more than 25 years of management and consulting experience in medical devices, aerospace, electronics, pharmaceuticals, cloud infrastructure development, consumer retail, healthcare, energy and public infrastructure construction and engineer-to-order capital equipment. Mr. Pound has helped pioneer the field of Operations Science and its application across many different industries. He holds a BS and a MS in Mechanical Engineering, an M.E.M. and a MBA. He is also a Past President of the Industrial and Systems Engineering Society’s Work Systems division and serves on its Board of Directors.

 

Recommend Reading

Finding Your Way in a Post-Lean/Six-Sigma World Using Operations Science
Optimizing Your Supply Chain with Science, Data and People
Leading Supply Chains Adopt These Principles