Corporate philanthropy is typically viewed as a mix of generosity and marketing – a way for a company to help their community while also promoting their brand. However, companies are increasingly seeing the wider role their philanthropic endeavors can play in overall strategy, including inventory management. By integrating philanthropy into stocking and product-mix choices, a company can get the best of both worlds – effective inventory control and meaningful altruism. Here are five ways:
The COVID-19 crisis has undoubtedly shifted our lives in a myriad of ways, including how we work. While more than twenty percent are out of work due to COVID-related layoffs, the global pandemic has forced the eighty percent still working to either perform their responsibilities remotely or to work in a facility while trying to maintain social distance (along with additional new best practices like increased sanitation or shift staggering). Regardless of where we are doing our work, one thing is certain: we have all had to adapt.
*The opinions and thoughts expressed in this article are my own and not necessarily those of my employers or any other individuals.
How can we leverage data analytics to help us make informed decisions during this COVID-19 crisis? Access to real-time data on COVID-19 cases can help us determine potential hotspots, allocate resources (e.g., test kits, masks, and other protective gear) to those areas and prevent the spread of the virus to other locations. But we should always be mindful of the limitations of data, and what is hidden from it. What is the data not telling us?
(Pictured, middle, is Prof. Gray, co-author Skowronski to his right. Image courtesy @ORMS_Elsevier) Two professors in the home department of The Ohio State Center for Operational Excellence have taken home a top academic award for their research.