August 29, 2012 at 8:30AM - August 30, 2012 at 9:00AM
MIT Faculty Club (Campus Map)
Supply Chain Planning: Exploring the Trade-off Between Planning and Execution
Agenda | FAQs | Summary Report
Long-term planning of supply chain and transportation assets is a common problem faced by organizations of all sizes, types, industries, and orientations. Over the last twenty years, tremendous advances in computational power have allowed companies to design very detailed and precise "optimal" long range plans. Essentially, these organizations took Benjamin Franklin's words to heart when he said an ounce of prevention is worth a pound of cure.
Recently, though, some organizations have begun to question whether this truism still applies. Firms, for example, have discovered that in many cases optimal plans built on deterministic data are overly fragile and are only optimal under very unlikely assumptions. Because supply chains tend to connect uncertain demand to equally random supply across the globe, the range of variability can be quite high. This uncertainty can lead to dramatically different conditions than assumed while developing the initial plan.
Another school of thought has risen that in the case of supply chain planning an ounce of cure (agile execution) is worth a pound of prevention (advance planning). The idea is that in a highly variable world, it is more important to have sufficient flexibility to respond quickly and cheaply to random changes and disruptions than to have a static plan ahead of time.
The objective of this roundtable is to explore where the trade-offs are between developing the optimal plan ahead of time versus building in a highly flexible and responsive execution system. The answer certainly lies somewhere in the middle and is most likely dependent on the organization and the details of its operating characteristics.
A special roundtable event organized by the MIT Center for Transportation & Logistics (MIT CTL) will address these questions, and give companies the opportunity to share their experiences and compare their approaches to development and support of planning and execution systems. The event will bring together senior planners from shippers, carriers, and third-party logistics providers.
MIT CTL Roundtables are highly interactive events focused on exchange and discussion among the participants. Topic content comes from the attendees, and each component session will be introduced by a leader from industry. Since the emphasis is on open discussion, formal presentations are not a central feature of these events. However, each participant is expected to take part in the discussions and share their experiences and insights.
Please note that in order to facilitate roundtable discussions, the number of attendees will be limited.
FAQs
What is the cost of this roundtable?
Where is the roundtable being held?
When does the roundtable officially begin and end?
Are accommodations provided?
Where should I stay?
Where is the nearest airport?
What is the best way to travel from the airport to the roundtable?
Should I rent a car?
If I drive, how do I get there and where can I park?
What should I wear?
What if I have a dietary restriction or allergy?
What is the cost of this roundtable?
This roundtable will be free of charge and is by invitation only.
Where is the roundtablebeing held?
The roundtable will be held at the MIT Faculty Club - 6th floor, located at 50 Memorial Drive (building E52). You can locate building E52 by using MIT's interactive campus map.
When does the roundtable officially begin and end?
Check-in and informal networking will begin at 12:30 PM a.m. on Wednesday, August 29, 2012 and adjourn at approximately 1:00 p.m. on Thursday, August 30, 2012.
When booking your return flight, take into consideration the following recommendations for travel time and security checks at Logan: allow two hours for a domestic flight and three hours for an international flight.
Are accommodations provided?
No, each person is responsible for his/her own accommodations.
Where should I stay?
Guests are responsible for their own hotel accommodations. We do not have a block of rooms reserved. However, the two hotel properties most conveniently located to the campus are:
Marriott Boston Cambridge
Two Cambridge Center
50 Broadway
Cambridge MA 02142
617-494-6600
The Kendall Hotel
350 Main Street
Cambridge MA 02142
617-577-1300
For additional accommodation listings, please see Visiting CTL; however, please note that the room rates do not vary greatly for those hotel properties in proximity to MIT.
Where is the nearest airport?
Boston's Logan International Airport.
What is the best way to travel from the airport to the roundtable?
To get to MIT from the airport, we strongly suggest taking a cab. The trip will take anywhere from 15-30 minutes, and the fare is roughly $30-35. The cab fare from Logan is always a bit more than the return, because a surcharge at the airport and a tunnel toll add approximately $5 to the total fare.
If you live locally and prefer public transportation, take the MBTA Red Line to the Kendall/MIT stop. It is a short three block walk from the T.
Should I rent a car?
We do not recommend renting a car. The expense on top of poorly marked streets and lack of available parking makes having a car more of a nuisance than a convenience.
If I drive, how do I get there and where can I park?
If you are renting a car or will be driving, MapQuest and Google Map offer excellent mapping services to get you from your doorstep to MIT. The physical address of the MIT Faculty Club is 50 Memorial Drive, Cambridge. The physical addresses of the hotels are listed above.
The nearest self-parking garage is adjacent to the Cambridge Marriott. Rates are approximately $20/day. This garage is not owned or operated by the Marriott.
What should I wear?
Appropriate attire is business casual; no ties or suit coats are necessary.
What if I have a dietary restriction or allergy?
If you have a dietary restriction or allergy, please email CTL Events Coordinator, Nancy Martin, nlmartin@mit.edu to let her know.