Wisdom of the crowd and the Bullwhip effect群众的智慧和牛鞭效应
Thursday, December 13th, 2007 周四, 2007年12月13日 Bullwhip effect 牛鞭效应 is an important concept in Supply Chain Management. 是一个重要的概念,在供应链管理。 This is the phenomenon when a slight change in demand gets amplified as you move away from the customers in the value chain. 这是现象时有轻微变化,在需求得到放大,因为你搬走,从客户在价值链中。 Let’s say the quantity of office supplies sold by the retail stores in a region has stagnated. 让我们说的数量,办公用品销售的零售商店在一个地区曾一度出现停滞状态。 But if the demand increases say for four months linearly, the retail stores see this as a trend and begin to anticipate increased future demand even though its just a temporary effect. 不过,如果需求增加说,为4个月,线性,零售商店看到这样一种趋势,并开始预期增加了未来的需求,即使它只是一个暂时的效果。 The retail stores will increase its order size from the distributors. 零售商店将增加其大小,以便从分销商。 Distributors, who see this trend, anticipate even larger order s from the retail shops and will place larger order with the suppliers. 分销商,他们看到这个趋势,预计更大规模1日从零售商店,并会发生较大的秩序与供应商。 This trend continues down the supply chain amplifying the effect. 这种趋势继续下去了供应链的放大效应。 Bullwhip effect is not new but the ‘Wisdom of the Crowd’ has the tendency to exasperate this issue even further. 牛鞭效应是不是新的,但'群众的智慧'的倾向,使怒在这个问题上更加缓慢。
As collaborative technology matures, and as the number of people ‘peer’ producing increases, common sense tells that the Bullwhip effect should reduce. 作为协同技术的成熟,并为多的人'同行'生产的增加,普通常识告诉牛鞭效应应减少。 More the number of people involved in the process, more ‘eyes’ to identify the potential and probable Bullwhip effect, right? Thats the main selling point of crowd sourcing - “many heads are far better than one”. 越是多的人参与这个过程,更多的'眼睛' ,以确定潜在的和可能存在的牛鞭效应,对不对? thats主要卖点的采购人群-"许多校长都远胜一" 。 But, few incidents over the past few years indicate that the Bullwhip effect gets lot worse if the number of people involved increases. 但是,很少发生在过去的几年里表明,牛鞭效应得到很大差距,如果涉及人数增加。
- The US Stock Bubble of 2001 : Bull market of late 1990s that led to the dot com bubble highlighted the ‘irrational exuberance’ by the investors. 美国股市泡沫的2001年:牛市的上世纪90年代末,导致在点com泡沫突出了'非理性繁荣' ,由投资者。 Large number of investors got involved in the stock market because of the democratization of investing brought about by several on-line trading firms. 大批投资者介入股市,因为该国的民主化的投资所带来的几对网上交易的公司。 Low trading fees led to frenzied trading. 低交易费用,导致疯狂地买卖。 Though Web 2.0 technologies were not available then, primitive technology to support the ‘Wisdom of the crowd’ existed in form of message boards and multiple online web based investment portals. 虽然web 2.0的技术,不具备那么,原始的技术,以支持'群众的智慧'存在形式的留言板和多种在线网站为基础的投资门户。 Several smart people like brokers in New York, venture capitalists and tech workers at Silicon Valley were involved in creating an euphoria for the tech stocks. 几个聪明的人都喜欢经纪商在纽约,风险资本家和技术工人在硅谷参与创制胜利冲昏了头脑,为科技股。 None of them saw the ‘bubble’ leading to crash of NASDAQ in late 2001. 但他们看到了'泡'导致坠毁的那斯达克在 2001年年底。
- Global Credit Crunch of 2007 : Again very smart investors (both large and small) are getting bitten by the Credit Crunch of 2007. 全球信贷紧缩的2007年:再次非常聪明的投资者(不论大小)越咬信贷紧缩的2007年。 In fact involvement of larger number of people in the real estate market has led to soaring of property value, which in turn led to the sub prime mess. 事实上,参与更多的人在房地产市场,导致飙升的财产价值,这反过来又导致了小组总理一塌糊涂。 Banks, Mortgage industr ies and other financial institutions who deal with risk every day got side tracked and surprise – surprise they did not anticipate the coming sub prime and liquidity crisis. 银行,按揭industr网页,和其他金融机构处理风险,每天得到的一面追踪和惊讶-惊讶,他们没有预料到未来亚总理和流动性危机。 From borrowers to lenders, everyone globally is seeing their investment s getting decimated. 由借款人向贷款人,每个人都在全球范围内,是看到他们的投资s日益破坏。
As seen above, the amplification is strongly correlated with the number of people involved. 如上文所示,放大的是强烈的相关性与多的人参与。 As more people get plugged directly or indirectly in the global economy, we will see some wild gyrations. 随着越来越多的人先堵塞直接或间接地在全球经济中,我们将看到一些野生起落。 Wisdom of the crowd acts in a harmful way doesn’t it. 群众的智慧行为,在一种有害的方式并不它。 Why is that? 为什么? Why, when the number of people involved increases, our collective ability to detect anomalies and ‘bubbles’ diminishes? 因此,当涉及人数增加,我们的集体有能力侦测异常与'泡'递减? The answer lies in what Warren Buffett calls ‘Institutional Imperative’ (see my blog 答案就在于什么华伦巴菲特呼吁'体制势在必行' (见我的博客 Traditional Manager and the curse of Institutional Imperative 传统管理者与诅咒的体制势在必行 ). ) 。 Buffett describes the ‘Institutional Imperative’ as that need for people to act and do like their peers no matter how irrational it may seem. 巴菲特描述了'体制势在必行' ,因为这需要人们采取行动,并喜欢他们的朋辈,无论怎样不合理看起来它可能。
This institutional imperative ‘mixed with’ the wisdom of the crowd is the sure recipe for creating an enhanced Bullwhip effect. 这种体制势在必行'混'了群众的智慧,是肯定会创造一个强化牛鞭效应。 We will see more volatility in the market as the number of people involved increases. 我们将会看到更多的波动,以市场为涉及人数增加。 The hype of crowd sourcing and ‘peer’ production needs to be dealt with carefully. 天花乱坠的人群采购和'同行'生产需要必须小心处理。 Though there are some great applications that can take advantage of user created content, I think there is also an elevated risk of going in a wrong path for a long time without being corrected because of the ‘wisdom’ of the crowd. 虽然也有一些大的应用软件可以充分利用用户创建内容,我觉得还有一个架空的危险走了错误的道路,在相当长的时间内被纠正,因为'智慧'的人群。
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