- Supply shocks are most likely in jurisdictions experiencing a rapid rise in new COVID-19 cases
- The stock of inventory is weighted by where it is sourced from, with a five-day moving average of new cases per stock line item
- The above assumption is then cross-referenced with current shipping restrictions and limitations due to COVID-19
- The resulting algorithm is: [Stock at Risk] = [Qty on Hand] – [60 Day Average Consumption]-[Reorder Point] (Indicated where stock will fall below the reorder point in 60 days time, weighted for the COVID-19 Risk Factor)
The JD Edwards data required for this analysis is obtained from the Preferred Strategies QuickLaunch Enterprise Data Warehouse (EDW). First Quantum implemented the QuickLaunch EDW in early 2019 when they undertook an enterprise-wide data and analytics infrastructure upgrade. At the time they considered building their own EDW, however selected the QuickLaunch product with Microsoft® Power BI when they realized they could be up and running in just a few months, as opposed to the year or more that a completely internal project could take. QuickLaunch demystifies cryptic JDE data values and seamlessly connects that data to analytics tools such as Power BI—all under a secure and governed environment.
Enabling Self-Service Analytics for the Commercial Team
In addition to their timely application of predictive analytics to the supply chain, the team has also recently created a whole data suite for the commercial area, including procurement, sales and warehouse. “The commercial area went from having no visibility into their JD Edwards data to having full control over what is happening,” said Romera. This triggered a major working capital project that will use machine learning techniques to optimize inventory management as a first step. Now business analysts have easy access to data—and a better understanding of the potential of the EDW—and advanced users are even better equipped to get the best out of the tabular model and data warehouse. [caption id="attachment_6665" align="alignnone" width="936"]
Image 2: Decomposition of Inventory drill-down analysis[/caption]
Contact: Mario Romera, ICT Superintendent, Cobre Panama
[post_title] => First Quantum Uses Advanced Analytics to Predict COVID-19-Related Supply Shocks
[post_excerpt] => First Quantum Minerals Ltd. (TSX:FM) is a global copper company that operates long life mines in several countries and employs approximately 20,000 people world-wide. First Quantum has an effective 90% ownership of Cobre Panama.
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[post_excerpt] => Watch a replay of the second session in our 4 part JDE Power BI Educational Series.
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[post_content] => In our experience, many companies do not realize the need for a data-driven vision until an unforeseen event occurs. That event might be positive (a new revenue opportunity) or negative (a major cost over-run). Until they grasp the need to use their data more effectively, the energy required to overcome the status quo and start the journey is too daunting.
CFMA Building Profits recently published an in-depth article by Preferred Strategies’ Frank Di Lorenzo (client relationship manager) and Ben Harrison (product director) about how to become data-driven. It covers everything from project leadership, best practices for analytics data models and data sets, and four phases of becoming data-driven.
Read the full article here.
[post_title] => Embarking on the Journey to Become Data-Driven (CFMA Building Profits Article)
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[post_title] => The Basics of Power BI and Connecting to JD Edwards
[post_excerpt] => Watch a replay of the first session in our 4 part JDE Power BI Educational Series.
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[post_title] => JDE Customer Roundtable Video Library
[post_excerpt] => View the video library of our recent Customer Roundtable event, featuring Clif Bar, IGI, and AtlaGas.
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Whiteboard Session with Preferred Strategies’ Founder, Adam Crigger
What does data-driven business transformation really look like? How can a well thought out strategy move your business forward and meet your business objectives? Adam Crigger, founder and president of Preferred Strategies walks you through the steps to successful transformation and shows you how QuickLaunch can help.
Blog
First Quantum Uses Advanced Analytics to Predict COVID-19-Related Supply Shocks
September 09, 2020
First Quantum Minerals Ltd. (TSX:FM) is a global copper company that operates long life mines in several countries and employs approximately 20,000 people world-wide. First Quantum has an effective 90% ownership of Cobre Panama.
Webinar
Educational Session – Managing Content in Power BI to Drive User Adoption
Discover how to implement a proven content management strategy to help drive the adoption of Power BI in your organization.
Webinar
Advanced Power BI and JDE: Creating Your Vision for Advanced Analytics
Uncover the power of advanced analytics to transform the way you access your JDE data.
Webinar
Advantages of a Data Model Approach When Connecting to JD Edwards Data
Watch a replay of the third session in our Power BI educational webinar series.
Webinar
How to Use JDE Data to Build a Competitive Advantage
Watch a replay of the second session in our 4 part JDE Power BI Educational Series.
Blog
Embarking on the Journey to Become Data-Driven (CFMA Building Profits Article)
July 22, 2020
In our experience, many companies do not realize the need for a data-driven vision until an unforeseen event occurs. That event might be positive (a new revenue opportunity) or negative (a major cost over-run).
Webinar
The Basics of Power BI and Connecting to JD Edwards
Watch a replay of the first session in our 4 part JDE Power BI Educational Series.
Video
JDE Customer Roundtable Video Library
View the video library of our recent Customer Roundtable event, featuring Clif Bar, IGI, and AtlaGas.
