Overheard in the tech blogosphere » ERP

Predictive modeling – rolling the dice in the real world

Margaret Rouse — Tue, 29 May 2012 00:38:48 +0000

“Predictive modeling allows for more informed marketing decisions and more effective resource allocation. Instead of blasting the same offers to everyone, you can target multiple offers by segment or focus on particular customer groups based on current or potential value.”

Colleen Ryan, Predictive Modeling: Turning Data Into Insight

Today’s WhatIs.com Word of the Day is predictive modeling. It’ s used a lot in customer relationship management (CRM) and enterprise resource planning (ERP).

Colleen Ryan does an excellent job explaining how predictive modeling works. While it might seem like voodoo, it’s really mathematical. Remember learning about probability and outcome back in sixth grade? Well, in the real world, its not just about rolling a pair of dice.

Or maybe it is.

Maybe trying to predict outcomes of any kind is still just…gambling.

Overheard talking about strategic sourcing and ERP

Margaret Rouse — Wed, 11 Apr 2012 15:51:22 +0000

“Another important function for enabling strategic sourcing is contract management, key for negotiating and managing terms with suppliers, including pricing and performance requirements. Contract management for procurement should support advanced negotiation functions, including methods to collect and compare vendor bids, as well as functions for managing contracts, improving spend visibility and data analysis.” — Catherine LaCroix

Today’s WhatIs.com Word of the Day is strategic sourcing. Strategic sourcing differs from conventional purchasing because it places emphasis on the entire life-cycle of a product, not just its initial purchase price.

Overheard – Discrete manufacturing

Margaret Rouse — Thu, 25 Jun 2009 15:54:25 +0000

“There are far too many valuable resources, too much valuable capital and especially too much human skill and know-how embedded in America’s manufacturing sector to allow it to go to waste.”

Vice President Biden, speaking in Perrysburg, Ohio

Tuesday, June 23rd, Vice President Biden and the Middle Class Task Force went to Perrysburg, Ohio to promote manufacturing. The Vice President hosted a discussion on the state of manufacturing. From what I could gather reading through the local news feeds,”retooling” and “renewable energy” were the buzzwords-of-the-day. If you’re a discrete manufacturer for automobile parts, for instance, you might want to picture yourself making parts for wind turbines or solar panels instead.

Overheard: ERP software is a serious relationship

Margaret Rouse — Fri, 16 Nov 2007 12:48:41 +0000

“For almost twenty years we have had people ask for demonstration copies of our ERP software, so they may play with it at their leisure. For years we have said no and we’ve done so with good reason. An ERP package is an advanced system. It isn’t Microsoft Office and it isn’t an iPhone. You can’t simply turn it on and expect it to run without training.”

Rebecca Gill, Why Doesn’t This ERP System Work?