Labor Strategy Optimization for the Professional Services Industry

People are the biggest asset for the professional services industry, as well as one of its biggest expenses. With the help of strategic workforce planning, a professional service firm can better allocate its available workforce to the demands of service delivery.

This webinar introduces a labor strategy optimization (LSO) problem to prescribe an optimal staffing plan (internal workforce, contingent/contractor workforce, training and re-skilling, and agency workforce) to meet the target revenues of a professional services firm.

This webinar features a modeling approach that captures the richness and complexity of a general service transformation and delivery process, which transforms various input resources into deliverables measured by certain financial metrics. This general modeling framework can be customized to cope with the unique feature and need of a firm for service delivery. These mathematical programming-based models are developed for both the deterministic and stochastic versions of the problem.

This real-life application of managing labor costs was implemented at the former HP Consulting & Integration organization.

In this webinar, we discuss:

  • Motivation and business setting of strategic workforce planning at a professional services firm
  • Strategic workforce planning problem description and spreadsheet approach
  • Optimization model formulations and solutions methods
  • Business impact and managerial insights derived from an LSO application
  • Lessons learned and best practices in developing and deploying an optimization application

Presenting this webinar are Dr. Haitao Li, Professor of Supply Chain & Analytics at University of Missouri - St. Louis, and Dr. Cipriano Santos, Sr. Technical Content Manager at Gurobi Optimization.

 


You can download the materials associated with this webinar here.


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