Origin in 1857, noun of action from optimize which came into being in 1844, "to act as an optimist," back-formation from optimist. Meaning "to make the most of" is first recorded in 1857. So to optimize is to be an optimist or "to make the most of." Make the most of what? Have you ever heard of supply chain pessimization? That is because supply chain pessimization does not work. Let's start with supply chain optimization. "Make the most of the supply chain." Begin by analyzing all logistics components. The components include inbound and outbound transportation, facility location, product sourcing, facility sizing, and inventory. The objective of SCO is to determine your current cost structure and develop alternatives to improve service and minimize cost. The process of SCO is to evaluate trade-offs between fixed and variable facility costs, transportation costs, and inventory costs to determine the optimum distribution network. Sounds simple. Supply chain optimization is not simple. AI and blockchain will change the SCO game. So much to learn.
Possibilities, a never ending journey, design a model