Tag: education

Technology is changing the landscape of supply chain at a breakneck pace, and organizations that are able to stay ahead of the curve often enjoy a significant advantage over their industry competitors. Digitization, cloud computing, big data, Internet of Things, and artificial intelligence are all major factors in shaping operational strategy. These manufacturing innovations have given rise to a trend dubbed Industry 4.0.

John Stroup, President and CEO of Belden Inc., paid a visit to The Boeing Center to share his wealth of knowledge, and to give a brief history of Industry 4.0, aka the Smart Factory. He explained that Industry 4.0, a term coined in Germany, is the fourth major iteration in manufacturing processes. “‘Smart Manufacturing,’ ‘Intelligent Factory,’ and ‘Factory of the Future’ all describe an intelligent, flexible, and dynamic production facility, where machinery and equipment will have the ability to improve processes through self-optimization and autonomous decision-making,” said Stroup. The major improvements from 3.0 to 4.0 are the ability to automate complex tasks (even remotely) and the access to data across the whole supply chain that allows for greater flexibility and connectivity.

Stroup went on to discuss the key characteristics of the Smart Factory and how innovations in digital technology have improved existing business models and enabled new ones. Such innovative technology allows for improved productivity, flexibility, and decision making, all of which benefit manufacturers and consumers alike.

For more supply chain digital content and cutting-edge research, check us out on the socials [@theboeingcenter] and our website [olin.wustl.edu/bcsci]

• • •

A Boeing Center digital production

BCSCI

Supply Chain // Operational Excellence // Risk Management

Website  • LinkedIn  • Subscribe  • Facebook  • Instagram  • Twitter  • YouTube




With more than ten thousand dollars at stake, student teams competed in the first-ever Project of the Year Symposium, hosted by The Boeing Center for Supply Chain Innovation (BCSCI), on May 17 at Washington University. The BCSCI symposium featured the top five corporate mini-consulting projects executed via our Center in the 2016-2017 academic year. The top prize, $5,500, for Best Project of the Year was awarded to the Emerson team. A second award, $3,000, was given to the Belden team for a project that demonstrated the greatest immediate business impact.  A third award. $2,000, was given to the Monsanto team for delivering the best presentation. All winning teams will be inducted into the Boeing Center Projects Hall of Fame.

Each student team had 15 minutes in front of a panel of judges composed of BCSCI advisory board members and representatives.

While all of our project teams (a total of 15 corporate projects) did an excellent job this year, these five demonstrated a particularly high level of execution, which set them apart. We are grateful to all of our member companies for providing us with interesting and challenging projects, and to all the students who worked on Boeing Center projects this year.

A special thanks goes out to our judges and board members in attendance: Greg Krekeler (Boeing), Mike Woerner (Edward Jones), Eric Carlson (Emerson), Marcelle Pires (Monsanto), Becky McDonough (Monsanto), and of course our own Sergio Chayet (WashU) and Panos Kouvelis (WashU & BCSCI Director). We look forward to developing more innovative supply chain solutions in the fall semester!

Representing this academic year’s projects in the competition were:

ABI student team: Serena Chen, Xinyue Du, Marcus Lei, Yanyan Li, and Cauthen Mordente.

Anheuser-Busch InBev  |  Fall 2016

The Anheuser-Busch InBev team’s project revolved around optimizing the inventory mix at distribution centers for some of ABI’s craft beer products. The need to achieve shipping efficiency by shipping full truckloads is a challenge when lower volume craft beers are involved. It is also important to maintain high service levels of performance when delivering to wholesalers.

The team utilized simulation models to support either the use of higher inventory levels at the distribution center, or shipping lower volume and higher volume beers on the same truck to achieve higher service levels for craft beers.

Belden  |  Spring 2017

Panos Kouvelis with Belden student team: Bonnie Bao, Michael Stein, Yuying Wang, and Yuyao Zhu.

The award for the “Greatest Immediate Business Impact,” with impressive overall cost savings to the company, was given to the Belden team.

The Belden team used the continuous review modeling approach, together with concepts of ABC analysis and market uncertainty, to identify opportunities for lowering costs and improving service levels at PPC, a Belden subsidiary in Syracuse, NY. The proposed decision support spreadsheet will be immediately implemented by the company, and will result in substantial savings. This project delivered the most immediate business impact.

Boeing  |  Spring 2017

Student team: Vineet Chauhan, Phil Goetz, Brian Liu, Sontaya Sherrell, and Fan Zhang.  

The Boeing team’s goal was to determine the most influential order and part characteristics affecting suppliers’ on-time delivery statistics of Boeing’s transactional spare parts business.

Emerson  |  Spring 2017

Student team: Kushal Chawla, Serena Chen, Kai Ji, Jeffrey Lantz, and Zoe Zhao, pictured at top of page.

The judges determined that the Emerson team had delivered the best overall project performance (problem solution, business impact, and presentation), and was declared “Project of the Year” winner.  The Emerson project team worked with ProTeam’s Richmond Hill facility to determine the optimal product mix, optimize inventory management of stock, and develop a data analysis model to facilitate future upkeep of the system. This was a well-executed project, with rigorous analysis and strong presentation by the team.

Monsanto  |  Spring 2017

Student team: Hai Cao, Yanyan Li, Ashwin Kumar, Jonathan Neff, Tom Siepman, and Xukun Zan.

Finally, the Monsanto team’s goal was to understand, define, and map out the credit processes within Monsanto. The audience enjoyed this team’s excellent presentation. The Monsanto team impressed the judges with the quality of its work and its exceptional presentation, and received the “Presentation Excellence” award.

Boeing Center Symposium photo gallery • click here

For more supply chain digital content and cutting-edge research, check us out on the socials [@theboeingcenter] and our website [olin.wustl.edu/bcsci]

• • •

A Boeing Center digital production

BCSCI

Supply Chain // Operational Excellence // Risk Management

Website  • LinkedIn  • Subscribe  • Facebook  • Instagram  • Twitter  • YouTube




Student teams in the Venture Advising Consulting Course taught by Clifford Holekamp, senior lecturer in entrepreneurship, spend 10 days in Budapest, Hungary immersed in the startup community and working on specific projects with founders. They also learn about Eastern European history and culture. Each team in this year’s course will submit a blog post about their experience and consulting project.

Szia from Budapest! Over the course of our intensive, onsite week in Hungary, we worked with a local education company that wants to expand a new kind of study abroad program to students throughout Central Europe. Our client, Milestone Institute, helps Hungarian students get into and succeed at highly selective Universities in the UK. They also look to bring these students back to Hungary to build the future generation of business and community leaders. Milestone asked us to suggest strategies to build an international presence.

Milestone Institute Mission: Our mission is to act as a national centre for nurturing, launching and bringing home talent. Rather than strike out on their own, we seek to create a community of bright young minds who want to broaden their horizon by studying abroad. Our hope is that they will return, so that Hungary as a whole will benefit from the experience and skills they have gained. In the last four years, we have thus prepared nearly 300 students for leading English-speaking universities.

budapest1AA lot of our work in the education market has been informed by our experiences around Budapest. The country is relatively small, with only 10 million people. However, as Hungary is a member of the European Union, it has much stronger ties and relationships with neighboring countries. The country sees itself more as a key stakeholder in the Central European Region. This worldview impacts the value we see Milestone can provide, as their services could prove highly beneficial to other local markets.

Monday: On Monday, we got a personal perspective on Hungary’s history. Hungary is a country which shares its history with the Roman Empire: Roman Law and Roman Catholicism. However, there are cultural differences as well which encompass a free people mindset, primarily branching out from German philosophy. During the 19th century, Hungary and Austria formed the Austro-Hungarian empire, creating a melting pot for people from different cultures, which can still be seen today through the art and architecture in Budapest.

BUdapest1CTuesday: On Tuesday we had the privilege to meet with two of the founders of Milestone Institute. The founders had so many ideas about what to do and how to best support Hungarian startups and NGOs, while at the same time encouraging Hungarian students to study abroad.

Having a strong vision, Milestone Institute will help to put Budapest, Hungary, on the map as a leading force in the study abroad educational market as well as improving economic prospects for startups.

Wednesday: On Wednesday, We prepared for our first presentation and got advice from David, our project leader, on how we were doing. Professor Orban taught us to use a MECE tree structure to test hypotheses and formulate the problem in its entirety. We spent most of Wednesday developing this model and fine-tuning our understanding of how to tackle this project going forward.
Budapest1B
Thursday: Our day began quite intensely, as we presented our approach for the summer to Professor Orban. Afterwards, we stopped in at our clients location for further clarification and to discuss an action plan for the summer. Following this, we continued with more preliminary research for our final presentation in Budapest.

We look forward to continuing our work over the summer and have taken much different perspectives from our time in Budapest!

By Anish Agrawal, Adam Clark, Sawyer Kelly, Lauren Rogge

Top Image: Budapest Heroes Monument, Giannis Arvanitakis, Flickr creative commons




Silicon Prairie News features a Q&A with Alicia Herald, EMBA’12, founder and CEO of MyEDMatch.com – an online service that pairs teachers and schools to improve retention rates. AliPipelinecia was named Innovator of the Year in 2014 by the Pipeline, an organization of the Midwest’s most successful, high-performance entrepreneurs. Pipeline hosts its biannual awards ceremony Jan. 21 in Kansas City.

Thanks to Entrepreneur Quarterly for sharing the link to this article on Facebook.

Link to related posts about Alicia Herald here.




Early morning sunlight bathed the stoic face of Knight Hall as action-oriented executives from diverse industries gathered at Washington University for the 7th annual Boeing Center for Technology, Information and Manufacturing (BCTIM) Industry Conference.  The theme was Supply Chains Disrupted:  Disruptive Technologies, New Business Models, and Operational Impact.  Executives from top companies in the region delivered presentations to quench the audience’s thirst for knowledge, and highly-skilled chefs from the Knight Center served delectable cuisine to sate its hunger.

BCTIM Industry Conference ThumbThroughout the day, the angles of the shadows outside grew shorter, and then longer again, as theoretical and practical knowledge was transmitted between supply chain practitioners.  After a warm welcome address from Prof. Panos Kouvelis, the director of BCTIM, the attendees settled in for what would be a full day.

Tom Luft from Express Scripts kicked things off with a presentation about turning pharmaceutical manufacturer monopolies into commodities. John Vu talked about Belden’s expansion into strategic markets, inventory management improvements, and governmental regulations on the logistics industry. Mark Waight from Edward Jones spoke about how organized movement enables operational excellence in the service industry. Then, Prof. Kouvelis gave a special presentation explaining how effective risk management can foster innovation resulting in business model breakthroughs.

BCTIM Industry Conference Large
After lunch, Jeremy Soucek and Julien Marin-Couilloud discussed how Emerson manages risk in its own supply chain. Jim Kinnett went on to tell the audience about Monsanto’s journey through the creation and implementation of a digital supply chain, while Jeff Wieringa from Boeing described some disruptive technologies in the next generation of aircraft.

Finally, Chris Pickett impressed the crowd by explaining Anheuser-Busch InBev’s complex beer supply chain and logistical considerations.  All day long, pens feverishly scratched across notebooks in an attempt to capture the wisdom that can only be acquired from long years in operations management.

By Evan Dalton


Stay tuned to our social media for photos, videos, and slides from the conference, as well as fresh new content and upcoming events.

Google+InstagramLinkedInSlideShareTwitterYouTube

 

 


 


Olin Business School Blog Olin Business School Blog