Month: April 2017

Amway Improves Capacity Planning with @RISK and Palisade Custom Services

amwayLogo.pngWith $10 Billion in annual sales, 450 different products, 18 different plants and selling in more than 100 different countries, Amway‘s operations are vast and complex. Faced with a planned expansion that eventually added five new manufacturing sites, the Industrial Engineering team wanted to find a solution that required less time for data collection, thereby providing more time for critical analysis. So they partnered with Palisade and its Custom Development team to design a new interface and customize Amway’s Excel-based models, using @RISK in the background to power analyses. The result is a custom application Amway calls the Long Range Capacity Planning (LRCP) tool.

Users across the company were trained on how to use the LRCP tool. Plant managers and capacity experts can enter changes to variables such as demand, output rates, new products and run sizes in real time for a selected plant, and then run up to 20 different “what-if” scenarios individually or in combination and see results almost instantly. Results can be studied on their own or displayed alongside existing baseline scenarios for comparison.

Amway’s new tool has already proven its worth across the company, from both the Plastics and Liquids departments, where it was used to determine the feasibility of shift reductions, to the Nutritional Products plant, where it showed the need for new capacity for a series of new products.

Amway Senior Principal Engineer Phil Miclea expects the demand for the LRCP tool to increase, saying, “When you can satisfy a customer’s curiosity in a single meeting, you’ve gained a fan, a believer and a person who is going to ask you to come to the decision-making table more often.”

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On-Demand Webinar: “Risk Register Focus: Introduction to Risk Analysis using @RISK”

Risk Register Focus
@RISK

»Watch now: “Risk Register Focus: Introduction to Risk Analysis using @RISK”

This introduction to probabilistic risk analysis will show you how simple it is to add Monte Carlo simulation and other techniques into your models. If you currently build cost estimate models or risk registers in Excel, Palisade solutions can almost certainly help you to make more informed decisions, right from your desktop.

We start with an introductory overview of probabilistic analysis. Then, we show how @RISK risk analysis software can be applied to a simple cost estimation model to quantify the uncertainty. Next, we explore how a risk register can be developed and added, to obtain a fully integrated model which calculates confidence levels and contingency.

For 30 years Palisade software and solutions have been used to make better decisions. Cost estimation, NPV analysis, operational risk registers, portfolio analysis, insurance loss modelling, reserves estimation, schedule risk analysis, budgeting, sales forecasting, and demand forecasting are just some of the ways in which the tools are applied. This webinar will demonstrate how easy – and necessary – it is to implement quantitative risk analysis into a cost estimate.

» Watch “Risk Register Focus: Introduction to Risk Analysis using @RISK” now

» Download @RISK – try it for yourself!

New Edition of Book “Risk and Decision Analysis in Projects”

riskanddecisionanalysisinproject3edcoverJohn R. Schuyler delivers a wholly rewritten and expanded successor to the best-selling prior editions of his book.

Decision analysis provides assistance in making logical, consistent decisions under uncertainty. This book instructs readers in applying decision analysis to a wide range of project decisions. An essential concepts and how-to guide intended for serious Project Management students and practitioners, the scope of the book is quantitative analysis, from project inception to post-project review. The entire asset life cycle is covered, from an initial feasibility analysis, to the project plan, to the post-project review, and on to a look-back analysis of the capital investment decision.

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» Download @RISK – try it for yourself!

On-Demand Webinar: “Introduction to Risk and Decision Analysis using the DecisionTools Suite”

Project and Pipeline Valuation
DTS

»Watch now: “Introduction to Risk and Decision Analysis using the DecisionTools Suite”

This webinar is designed to provide an entry-level introduction into probabilistic analysis and will show how Monte Carlo simulation and other techniques can be applied to your everyday business analyses. If you build models in Excel then Palisade solutions can almost certainly help you to make more informed decisions, right from your desktop.

The webinar will explore some of the ways in which organisations are applying Palisade tools. From oil and gas, insurance and finance through to healthcare, defence and construction, @RISK and the other tools in the DecisionTools Suite enhance the decision making capabilities of some of the world’s most successful companies.

For more than 30 years, Palisade software and solutions have been used to make better decisions. Cost estimation, NPV analysis, operational risk registers, portfolio analysis, insurance loss modeling, reserves estimation, schedule risk analysis, budgeting, sales forecasting, and demand forecasting are just some of the ways in which the tools are applied. The webinar will demonstrate how easy – and necessary – it is to implement quantitative risk analysis in any business.

» Watch “Introduction to Risk and Decision Analysis using the DecisionTools Suite” now

» Download The DecisionTools Suite – try it for yourself!