Supply Chain Analytics

How analytics can add value to supply chain function

The management of the supply chain is an essential business process in every sector. No matter whether you have a large manufacturing company or a small factory, optimized supply chain management translates to better bottom-lines and an unbeatable competitive edge.
Most of the times, the process of supply chain requires the help of third parties. These third parties are the logistic companies that allow you to reduce the burden of the role. However, hiring a third party company can also result in the lack of quality and efficiency in the supply chain.
On the other hand, new and advanced technologies of Supply Chain Analytics are helping businesses maintain a strong and well-managed supply chain.
Here are all the supply chain processes that get valuable results with analytics.

Management of the fleet

The distribution of the produced items is not an easy task. A wide range of factors can affect and change the scenarios for a business. The management of a fleet requires complete care of the traffic congestion, weather, time, date, workforce and many others. Hence, it is clear that the variables are too random to manage by manual process.

For an efficient decision, a team requires platforms that can offer data related to all the factors and provide a clear and the most efficient direction to the fleet. As a result, customers attain the products faster, which ultimately enhances the user-experience of a business. However, the benefits don’t stop there. The comprehensive idea of the location, traffic, and weather helps in reducing the cost of fuel, maintenance and other aspects of the supply chain. The operators get the ability to monitor the analytics and become more efficient and reliable.

Tracking every asset

Supply chain operators need to know where all the products are in the real time. Though it seems very tiny, the insight of the product location helps a lot in bringing efficiency to the product distribution. The analytics provide highly valuable data, which allows the managers to predict the required time for a shipment to reach its destination. They can make deliveries more efficient and monitor the products at every step of the chain.

Additional advantages for equipment vendors and network operators

The availability of analytics presents great opportunities for equipment vendors and network operators. Tracking their assets and managing the fleet becomes highly effective for their business. Customers engage in one or the other step of a supply chain. Hence, managing it smartly with useful analytics enhances the user experience.

The technologies that are required for analytics in the supply chain are available all around us. All it takes is finding the right IT platforms and integrating the available technologies in the supply chain.

Understanding the potential, many players have incorporated the analytics into their supply chain. Providing a complete solution, the technology has become an inherent part of the management of the supply chain.

A successful implementation of analytics in your supply chain depends on the quality of cloud services, IP connectivity, security, positioning, and hardware. Hence, finding the right technology solutions partners would be a smart business move.

Source-

https://www.iotforall.com/supply-chain-management/

 

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