The MIT Forum for Supply Chain Innovation has announced the launch of a manufacturing innovation consortium, to be directed by the forum’s Technology Advisory Board. The consortium will bring together members of the global manufacturing and retail industry to collaborate on industry challenges and share research insights in data science, technology, and supply-chain optimization research conducted by the forum’s founder, MIT Professor David Simchi-Levi.
As the internet of things, data, and computational power come together, the manufacturing and retail industry have a unique opportunity to innovate and transform operations and marketing channels to reduce costs and gain a competitive advantage by utilizing data to get closer to customers and make evidence-based decisions. The new Manufacturing Innovation Consortium will enable manufacturing and retail companies to be part of the MIT Forum for Supply Chain Innovation community, and to receive pre-publication research insights as well as thought leadership that can help transform current business models.
“Data science and machine-learning techniques can have a profound impact on current industry business models and can quickly help companies achieve a competitive advantage,” says Simchi-Levi, whose research in data science has had a profound impact on the manufacturing and retail industry, culminating in two recent awards from the Institute for Operations Research and the Management Sciences (INFORMS): the 2014 Revenue Management and Pricing Section Practice Award and the 2014 Wagner Prize for Excellence in Operations Research Practice, which utilized Simchi-Levi’s Risk Exposure Index to identify risk and mitigate disruptions in Ford’s automotive supply chain. “I look forward to sharing the forum’s insights and research with our Manufacturing Innovation Consortium and getting feedback to help direct our research agenda.”
Companies interested in joining the new consortium should contact Leslie Sheppard by April 30.
Board member Ravi Kumar honored
In 2012, the MIT Forum for Supply Chain Innovation launched the Technology Advisory Board, with Ravi Kumar, executive vice president at Infosys, as the founding board member.
Since then, through Kumar’s vision and commitment to the forum, representatives of other companies, such as Flextronics, P&G, Sanofi, and Cisco, have joined as board members, providing their insight to help drive positive impact through industry expertise. Now, the forum is honoring Kumar with an expanded role on the board, to thank him for his vision and to help drive the board's industry reach.
“Infosys’ consistent support of the forum has been integral to the success of the board,” Simchi-Levi says. “The forum is grateful for Ravi’s vision and thought leadership in industry and technology.”