Why is decision optimization important?
Decision-making is one of the top priority job requirements and skill set of all job roles involved in decision-making. Due to time-constraints and urgency of tasks, decisions are pervasively made using one’s own judgement and experience of the situation, backed with available historical data and information, and even sometimes using one’s own intuition. However, we may experience situations that are totally new to us, and there is a lack of knowledge from past experience and data which might even be non-existent. A good example is the COVID-19 Pandemic that has caught the world (including governments, businesses and society) by surprise bringing about economic, business and societal upheavals at a global scale. In such extraordinary times, existential experience, data, information and knowledge may not be sufficient and adequate for the development and implementation of sustainable decisions. Existing business models need to be re-evaluated, refined and transformed.
Even in normal and business-as-usual conditions, existing data and information alone may not be sufficient to facilitate the appropriate evaluation of the future impact of decisions due to VUCA conditions in the internal and external business environments.
For example, you may be making a decision with determining the number of call centres or facilities you will need to establish in order to meet future demand, but you do know that demand is customer-driven. You may also need to predict future demand for a service, and the expected future revenues derived from investing in these new facilities. Further, you might be involved in making decisions on high-yielding transport (land/air/sea) routes. All these situations are characterized with unknowns. How do we make decisions in such commonly encountered unknown space?
Welcome to the world and science of decision-making through modelling and simulation! One.Strategist provides decision optimization technology needed to ensure that sustainable decisions are made for high business yield and performance. We provide methodologies that utilize facts, data and information through research to model and simulate situations for prediction and prescription.
What do we do for our clients?
In order to allow you to derive risk-free and sustainable decisions in the present for the future, and to be able to evaluate the future impact of your business decisions in the present, we offer our clients with our decision optimization solutions:
One.Strategist Business Process Improvement (OSBPImprove™)
If you will like to improve your manufacturing or service delivery with the aim to delight your customers, get in touch with is to adopt our OSBPImprove™ methodology. Our consultants who are experts in the field of value chain mapping and customer experience journey mapping, are able to facilitate your organization to visualize many significant improvement solutions which will establish the strategic blueprint for business improvement and digitalization strategy for your organization.
One.Strategist Business Preparation for Innovation (OSBPInnovation™)
If you are intending to establish new business systems, or launching new products or services using existing systems, and unsure if it will be a viable decision, get in touch with us to adopt our OSBPInnovation™ methodology. Based on the Toyota Production System’s Production Preparation Process platform, OSBPInnovation™ is a rigourous methodology that has been used by many organizations to establish right-first-time business, manufacturing or service delivery systems. Based on your business requirement, the OSBPInnovation™ is crafted as a workshop that suits your immediate needs. This will allow you to simulate real-life scenarios of systems that you need to establish so that you may evaluate its effectiveness by experiencing it real-life in a risk-free environment. Nothing beats experiencing it first-hand before the implementation of your new systems.
Simulation Modelling Capability Development and Support for Business Innovation
If you are intending to explore, develop and test new business models, or even improving an existing one, and face constraints to perform a physical experiment, we are able to provide our expertise in stochastic discrete event simulation (DES) and system dynamics to help you evaluate your options. As with all types of simulation that has the ability to accurately “mimic” reality, simulation modelling provides a low-cost and risk-free environment for you to test out and examine your ideas before it gets implemented.
Simulation modelling can be applied in a broad range of industries and business context. Examples of business systems and processes that can be simulated are those in manufacturing, supply chains, healthcare systems and transportation systems. The possibilities for application of simulation modelling are endless.
Depending on the business context, questions that you may answer using simulation modeling are for example:
- Where are the potential bottlenecks in a value chain and what can be done to remove them?
- What is the effect on throughput with changes in variables in the production chain?
- How many service providers are needed to provide a desired service level?
- What the best business policy levers to implement to deliver business value?
- What is the optimal operations and supply chain strategy?
- Which are the best strategy options available?
Software systems are needed to build models for simulation to predict the performance of real world systems. One.Strategist™ uses SIMUL8 and Vensim with our clients to provide predictive analytics solutions. To find out more about our simulation modelling solutions, contact us.
As we believe in advocating for the development of a simulation community so that simulation becomes the norm and way of decision-making in business, we provide support to organizations that are keen to develop and deploy their in-house capability in simulation and modelling.
We are also fully aware that some organizations may not have the ability to maintain permanent headcount for simulation and modelling work. It may also not be cost-effective to hire a permanent headcount to do so. By outsourcing simulation needs to us, businesses can concentrate on making better decisions from the simulation models that we develop and test for you. Even if you do not know how to start with a simulation project, we can do it for you. To find out more on what we can do for you, contact us for a discussion.
Connect with us for your business performance optimization needs. We optimize business performance through the design and development of predictive and prescriptive analytics models to enable intelligent decision-making. Questions that you might seek answers for with our decision analytics approach might be:
- What is the shortest route or connected network to deliver or travel from source to destination?
- How do I maximize the flow of traffic through a transportation (land, air, sea) network?
- How do I maximize the flow of goods through a supply chain network?
- What policies should I implement to minimize cost or maximize profit?
- What is the best possible way to maximize the use of limited resources?