Supply chains are complex beasts, and each link in the chain needs to run smoothly to avoid disaster. This means having full transparency and stopping problems before they get out of hand, and one of the best ways to accomplish this is by arming yourself with information. Gathering data might seem like a monumental task, but it’s hard to argue with the notion that having more information about each point in the supply chain can make it a lot of easier to find efficiencies and improve operations.
Making use of supply chain analytics provides a wealth of data and measurements from all points in the supply chain, which is then analyzed to find trends and identify opportunities for cost savings and process optimization. The more data there is, the more meaningful it can become as trends become even more obvious over time.
Supply Chain Analytics Behind Success of Amazon, Unilever
Supply chain analytics have made many types of businesses a lot more profitable. One standout example of this is Amazon’s monumental success. Supply chain analytics played a large role in helping the firm to revolutionize retail.
Meanwhile, the management of Unilever has identified supply chain improvements as a key factor in their ability to double the size of their business while lessening their impact on the environment. Establishing a virtual manufacturing network allowed them to respond to fluctuations in local demand rapidly and take advantage of flexible manufacturing.
Of course, supply chain analytics is not just about looking at trends that have already occurred; it is about making informed predictions of what might happen under certain circumstances and what will happen in the future. It’s also about finding vulnerabilities so they can be dealt with and identifying opportunities so they can be taken advantage of.
As the business world focuses on setting itself up for a successful year, supply chain analytics should not be overlooked.
This blog post was based off of an article from Metas Fresh. View the original here.