Industrial mathematics in Nors Group: driving a new management approach
NORS is a Portuguese group with eighty-six years of history, which started with the representation of the Volvo brand in 1933 in Portugal. Nowadays is present in 17 countries.
Five years ago, NORS Group developed a partnership with a Portuguese Academic research center and started working with a mathematical approach. At that time, we faced a big challenge, sell more while reducing our spare parts stock. In the beginning, it was hard to explain how a mathematician can do better than our stock management team, experts in the automotive business for years with a very important knowledge base. It was hard to explain that we can predict the future analyzing the right information from the past. And with this, make better decisions.
Meanwhile, beyond developing several tools to support the warehouse and store operation management, we started to work on data analysis. We are trying to find a way to put all the pieces together: the internal information we have combined with market information and the information that our customers provide as well as the information we can collect from the vehicle.Nowadays it’s different. Internally, we created the Nors Industrial Mathematics Laboratory, and we have, what we call, a mathematical footprint in the company. People want to put math’s inside their jobs.