Lokad: Artificial Intelligence in the Service of the Supply Chain
Lokad's Co-founder, Estelle Vermorel, was a guest on the Talk Entreprise show by Challenges.
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Supply Chain Lectures(More episodes)
On Knowledge, Time and Work for Supply Chains - Lecture 1.7
Supply chains abide by the general economic principles. Yet, these principles are too little known and too frequently misrepresented. Popular supply chain practices and their theories often contradict what is generally agreed upon in economics.
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Pricing Optimization for the Automotive Aftermarket - Lecture 6.2
The balance of supply and demand very much depends on prices. Thus, pricing optimization belongs to the realm of supply chain, at least to a sizeable extent. We will present a series of techniques to optimize the prices of a fictitious automotive aftermarket company. Through this example, we will see the danger associated with abstract lines of reasoning that fail to see the proper context. Knowing what ought to be optimized is more important than the fine print of the optimization itself.
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The Supply Chain Scientist - Lecture 7.3
At the core of a Quantitative Supply Chain initiative, there is the Supply Chain Scientist (SCS) who executes the data preparation, the economic modeling and the KPI reporting. The smart automation of the supply chain decisions is the end-product of the work done by the SCS. The SCS takes ownership of the generated decisions. The SCS delivers human intelligence magnified through machine processing power.
Read MoreGuest speakers(More episodes)
Supply Chain Debate - Is S&OP a net good for companies? (with Milos Vrzic) - Ep 164
In a debate hosted by Conor Doherty of Lokad, Milos Vrzic, former Head of Supply Chain at Galderma, and Joannes Vermorel, CEO of Lokad, discussed the value of S&OP for companies. Vermorel critiqued S&OP as simplistic and outdated, while Vrzic emphasized its role in tactical planning. The debate highlighted the complexities of S&OP and the need for a nuanced understanding of its role in business.
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Probabilistic Forecasts & Sequential Decision-Making (with Warren Powell) - Ep 163
In a recent LokadTV interview, Conor Doherty, Joannes Vermorel, and guest Warren Powell discussed probabilistic forecasts and decision making in supply chains. Warren Powell, a retired Princeton professor and Chief Innovation Officer at Optimal Dynamics, shared his career journey and insights on planning under uncertainty. Joannes Vermorel, Lokad's CEO, discussed his transition from deterministic methods to probabilistic forecasting, criticizing academia's lack of real-world application. Both agreed on the superiority of probabilistic forecasting, despite its complexity and businesses' struggle to apply it. The conversation highlighted the need for a broader perspective and a unified approach to dealing with uncertainty in decision-making.
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Decision-making under Uncertainty in Supply Chain (with Dr. Meinolf Sellmann) - Ep 162
In a recent LokadTV interview, Conor Doherty, Joannes Vermorel, and guest Meinolf Sellmann discussed the role of stochastic optimization in supply chain management. They highlighted the importance of considering variability and uncertainty in decision-making processes. Traditional deterministic methods often fall short in real-world scenarios, leading to over-optimistic optimization plans. Both Vermorel and Sellmann criticized the "predict then optimize" approach, suggesting that companies can achieve better results by accounting for forecast variability during optimization. They emphasized the need for executable plans and measurable effectiveness in any optimization model.
Read MoreSupply Chain In 3 Minutes(More episodes)
Effects of AI on Supply Chain Jobs - Supply Chain in 3 minutes
Conor Doherty of Lokad scrutinizes a Harvard study on AI's impact on white-collar jobs, revealing nuanced effects. The research, involving 758 consultants, assesses AI's role in enhancing productivity, particularly in supply chain management. It finds that AI boosts performance in certain tasks, especially with training, but may falter in complex scenarios. Doherty critiques the study's narrow view of AI as an adjunct to human labor, arguing for its potential to fully automate tasks, thus revolutionizing productivity and redefining white-collar work. He warns of overconfidence in job security, as AI's full capabilities could dramatically alter the employment landscape.
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Essential Skills for Modern Supply Chain - Supply Chain in 3 minutes
Conor Doherty, Head of Communication at Lokad, emphasizes the evolution of supply chain management, highlighting three critical skills for future practitioners':' technical writing, digital literacy, and financial awareness. Technical writing is crucial for documenting complex processes, ensuring knowledge is preserved and shared. Digital literacy, encompassing coding and data analytics, is vital for interpreting vast data streams and solving intricate supply chain challenges. Financial awareness enables practitioners to understand the economic impact of their decisions, ensuring fiscal responsibility. These skills are essential for navigating the complexities of modern supply chains and making informed, prudent decisions.
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Forecast Value Added - Supply Chain in 3 minutes
Conor Doherty, Lokad's technical writer, discusses Forecast Value Added (FVA), a diagnostic tool for evaluating the value of each step in the forecasting process. FVA integrates insights from various departments to enhance forecasting precision. Doherty notes that FVA presumes that greater forecasting accuracy is always beneficial, which is not always the case. He suggests that the focus should be on reducing monetary error rather than pursuing greater accuracy. He concludes that FVA could be used as a competence test, but does not validate the routine use of non-specialists for forecasting input.
Read MoreSupply Chain science and tech(More episodes)
ISF2024 Panel: Demand Planning & Human Judgement in the World of AI
At the 44th International Symposium on Forecasting, Lokad's Conor Doherty and Alexey Tikhonov joined a panel discussion on "Demand Planning and the Role of Judgment in the New World of AI/ML".
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Quality-Cost Dilemma in Supply Chain - Ep 160
In a dialogue with Lokad's Head of Communication, Conor Doherty, Lokad CEO Joannes Vermorel discusses the quality-cost ratio in supply chain management. Vermorel emphasizes that quality refers to decision-making, not product attributes, and that client-perceived quality may not align with optimal supply decisions due to cost. He criticizes traditional KPIs, arguing they don't reflect genuine quality. Vermorel also discusses the role of Large Language Models (LLMs) in supply chain management, noting they can lead to smarter decisions but can inflate IT budgets. He suggests the quality-cost dilemma is a meta game, requiring software engineering to solve supply chain problems and assess trade-offs.
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AI Pilots in Supply Chain - Ep 159
In a dialogue between Lokad's CEO Joannes Vermorel and Head of Communication Conor Doherty, they discuss the impact of AI on supply chain management. Vermorel highlights the advancements in AI and large language models, which have revolutionized task automation. He introduces AI Pilots, a Lokad offering that automates decision-making and clerical tasks, facilitated by Lokad's proprietary programming language, Envision. Vermorel also discusses the potential of AI to automate tasks related to Master data and contrasts Lokad's approach with competitors. He predicts that AI Pilots will become the norm in supply chain management, leading to significant productivity improvements. The conversation concludes with a Q&A session.
Read MoreIndustry deep dive(More episodes)
Optimizing Omnichannel Purchase & Allocation at Worten (with Bruno Saraiva)
In an onsite interview, Bruno Saraiva (Head of Stock & Space Management at Worten Portugal) discusses Worten's ongoing supply chain revolution.
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A day to day exhibition of Lokad usage in a MRO company (with Rodrigo Pineda)
In a conversation revealing the intricacies of aviation MRO supply chain management, Baptiste Miceli of Lokad and Rodrigo Pineda of MRO Holdings discussed the challenges of standardizing inventory planning across diverse operations. Pineda detailed efforts to harmonize procurement strategies and risk management for MRO Holdings, emphasizing the need for profitability in their standalone operations. Lokad's tailored software solutions aided in creating a unified material planning process, despite the volatility of demand in the MRO industry. Their event-based forecasting provided a clearer prediction model, leading to satisfaction and a commitment to ongoing improvement in managing the ever-changing supply chain landscape.
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MRO Holdings’ Quantitative Supply Chain Revolution (with Ricardo Alvarez Henao)
In a recent dialogue, Ricardo Alvarez Henao, Supply Chain Director at MRO Holdings, shared insights on the aviation MRO sector with Luciano Lisiotti of Lokad. Alvarez Henao emphasized the importance of anticipation and visibility in supply chain risk management, noting that inaccurate forecasts could lead to operational delays or surplus inventory. He also highlighted emerging trends in the MRO industry, including a post-pandemic bounce back, a trend towards partnerships, and the increasing complexity of demand. Alvarez Henao stressed the importance of embracing volatility and complexity, and the usefulness of probabilistic demand planning and forecasting. He concluded that while the MRO sector is more complex than the fast-moving consumer goods sector, the principles of leading a supply chain are similar.
Read MoreFrench tech(More episodes)
Lokad: Artificial Intelligence in the Service of the Supply Chain
Lokad's Co-founder, Estelle Vermorel, was a guest on the Talk Entreprise show by Challenges.
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The future of supply chain practice - Discussion with Joannes Vermorel at the Ecole des Mines de Paris (French)
Recorded at Paris' Ecole des Mines in summer 2023, Lokad CEO and founder, Joannes Vermorel, explains the quantitative supply chain perspective in detail and how it will shape the future of supply chain practice.
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Innovating Inventory management at Celio with Julie Schaf
In this interview recorded in spring 2023 at a Celio store in Rosny-sous-Bois, Joannes Vermorel (founder of Lokad) and Julie Schaf (Supply Chain Director at Celio), discuss their ongoing supply chain optimization partnership. Schaf praises Lokad's approach, which differs from traditional tools by focusing on product value, optimizing shortage management, and offering high responsiveness to evolving needs. She points out that Lokad anticipates shortages and prioritizes the dispatch of high-performing products to the most profitable stores for each given item. Their close collaboration facilitates rapid adaptation to required changes, generating beneficial economic and operational impacts for Celio.
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