- Select the preferred optimization model and determine desired outputs and required inputs;
- collect historical data, including product volumes, the company's prices and promotions, competitors, prices, economic conditions, product availability ,seasonal conditions and fixed and variable cost details;
- Load, run and revise the model;
- Clarify the business's value proposition and set strategic rules to guide the modeling process;
- Establish decision-making processes that incorporate modeling results without alienating key decision makers;
- Monitor results and upgrade data input to continuously improve modeling accuracy.