5 Excel Hacks Every Supply Chain and Operations Pro Should know

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Nearly 2/3 supply chain professionals use Microsoft Excel on a daily basis. While there's plenty of software solutions, Excel continues to be a leader in the space due to it's flexibility, customization and universal appeal. Here are a few things operators use supply chain for...

Demand and Supply Planning: Excel helps analyze historical sales data to forecast customer demand. They can use this to plan production, manage inventory levels, and ensure they have enough materials on hand to meet future needs.

Supplier Management: They can track supplier information, pricing, lead times, and performance metrics in spreadsheets. This allows them to compare suppliers, identify cost-saving opportunities, and ensure reliable deliveries.

Data Analysis and Visualization: Excel's strength lies in its ability to organize and analyze large amounts of data. Supply chain professionals use its functions and features to create charts and pivot tables to identify trends, understand patterns, and make data-driven decisions.

Basic Modeling and Simulation: While not as robust as dedicated software, Excel allows them to build simple models to simulate different scenarios and analyze potential outcomes. This can be helpful for tasks like optimizing transportation routes or planning for disruptions.

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Timestamps
00:00 - Intro
00:45 - Forecasting
02:41 - ABC Classification and NESTEDIF Formulas
04:41 - Reorder Point Management
06:50 - Efficient Data Lookup
08:26 - Data Validation
08:44 - Analyze Data Feature

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