About this Presentation
After examining the myths and truths about TOC in retail in 2010 we are back to the implementation side of TOC for retail. In this presentation all challenges presented in 2010 and some others are solved and the implementation is detailed in a form of a new version of the retail S&T tree. Some of the points touched upon were: retail, S&Ts, customized S&Ts, first actions, roll-out, store's stock, store operation, warehouse challenges, product life cycle, seasonality. and fast and slow movers. In retail, for example, business to customer (customer is anonymous) is different, the concept of experiment is much more alive, the passive component of the sale is significant, etc.
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
The speaker emphasizes the importance of managing product lifecycles, particularly when to introduce new products and when to discontinue older ones. This involves using reverse logistics not only to manage excess stock but also to remove slow-moving items from the store to make space for new products.
The speaker highlights the importance of viewing warehouse operations as a factory, with the capacity to add value and change products. This includes concepts like micro-picking, which can improve efficiency and add value to products.
The speaker discusses the impact of seasonality on stock levels and the importance of managing it carefully. He also highlights the difference between fast runners (products that sell quickly) and slow movers (products that sell slowly), and the need to treat them differently in terms of replenishment and stock management.
Instructor(s)
Humberto Baptista
Ms Alka Wadhwa
Alka Wadhwa is an experienced consultant and process improvement expert with over 24 years of expertise in the Theory of Constraints (TOC), Lean Six Sigma, and organizational performance optimization. She has successfully led projects in healthcare, financial services, and manufacturing, driving significant improvements such as a 67% boost in hospital operations and a 140% increase in outpatient visits.
Previously, Alka Wadhwa spent 17+ years at GE Global Research Center, where she led initiatives to enhance various GE businesses through advanced technologies, process redesign, and system optimization. Founder of Better Solutions Consulting, LLC, she specializes in using TOC, Six Sigma, and data analytics to streamline operations and build high-performance teams.
Her work has earned her multiple accolades, including the Empire State Award of Excellence in healthcare.
Dr Gary Wadhwa
Dr. Gary Wadhwa is a Board Certified Oral & Maxillofacial Surgeon with extensive experience in the field. He completed his Oral & Maxillofacial Surgery training at Montefiore Hospital, Albert Einstein College of Medicine in Bronx, NY, and has served as an Attending at prestigious institutions like St. Peters Hospitals, Ellis Hospital, and Beth Israel Hospital in NY. With a career spanning over two decades, he was the former CEO and President of a group specialty practice in NY from 1994 to 2015. Dr. Wadhwa holds an MBA from UT at Knoxville, TN, and has undergone additional training in System Dynamics at MIT, Health System Management at Harvard Business School, and Entrepreneurship and healthcare innovations at Columbia Business School. Committed to expanding access to Oral & Maxillofacial Surgery care, he is currently engaged in a meaningful project to provide healthcare services to underserved populations in inner city and rural areas through non-profit Community Health Centers.