Analytics in Digital Supply chain

In current digital era, more and more companies are facing acute pressure from their suppliers and within the management to implement digital technology in their supply chain. According to a Gartner study, 57% of companies have ranked supply chain optimization and item traceability as their top priority.

Companies do perceive forecast accuracy and demand variability as the major obstacle in achieving supply chain goals. Despite supply chain being one of the matured area, most of the companies still see a potential of saving and profit through proper analysis of data within their supply chain.

New challenges in supply chain

Technology has suddenly changed the trend or pattern of consumer spending. Customers are more sensitive to fast and customized services. New Digital Technologies are changing the way customers are interacting with suppliers/retailers which in-turn need to keep evolving their supply chain to meet customer demands.

New trends like Buy anywhere - Collect anywhere has gain huge momentum in last few years. Environmental impact of supply chain is another big challenge which companies who are constantly being challenged to reduce their carbon footprint and build a secure supply chain.

The multi-echelon supply chain has completely transformed into collaborative supply chain where each component has visibility to other. Flow of information is more rapid and intelligent tools are needed to decipher the large amount of data technology has made available.

Analytics as key element for future Supply-chain

Analytics in supply chain is capable of solving range of issues. It is delivering value across all functions and is a key aspect in creation of next-gen supply chain.

Sourcing – Issues like commodity pricing (dynamic), procurement analytics, risk management can be well governed with the help of modern analytics tools.

Planning – Demand sensing, forecasting and replenishment analytics, supply planning, promotional/causal forecasting and inventory optimization can be made more efficient with the help of analytics services

Production- Predictive asset maintenance through deterioration analysis, production planning and distribution scheduling optimization, lean six sigma and quality management are tools to help producing commodities with reduced cost and waste

Fulfilment – Network and flow path analytics is a powerful mechanism to optimize transport routes and reduce overall cost of delivery

Today’s digital customers demand order fulfillment through any channel at any time and at any place with minimum cost. Confronted with these demands and an ocean of data from mobile devices, social networking platforms and the internet of things, supply chain planners rely on advanced analytics capabilities to quickly sense and respond to ever-changing demand signals.

Our consultants at Milk-Run are experienced professionals in the are of supply chain optimization through highly sophisticated statistics based analytics.

Please write to us at bd@milk-run.co.in or visit our website to know more on how Milk-Run consulting is using analytics to save costs for our clients while improving the customer service levels.

Milk-Run Consulting

https://milk-run.co.in