It’s hard to imagine a crucial aspect of business that’s been more disrupted, unpredictable, and volatile over the last few years than supply chains. As a result of worker shortages, geopolitical issues, manufacturing shutdowns, unstable fuel prices, and myriad other factors, supply chains across almost all industries were unable to make on-time deliveries and…
In today's highly competitive business world, companies are constantly looking for ways to improve their supply chain operations. One of the most effective ways to do this is by measuring supply chain performance using real-time analytics. By understanding the performance of each aspect of the supply chain, companies can identify bottlenecks, reduce lead times,…
Supply chain analytics uses data and advanced analytics to analyze and optimize various aspects of the supply chain, including procurement, manufacturing, and logistics. The main goals of supply chain analytics are to improve efficiency, lower costs, and increase revenue. Supply chain analytics can also provide real-time insights that help businesses adjust to changing conditions…
When a company is data-driven, it makes strategic decisions based on data analysis and interpretation rather than mere intuition. A data-driven approach to supply chain management is the key to building a strong supply chain, one that’s efficient, resilient, and that can easily adapt to changing business conditions. How exactly you can best incorporate…
Supply chains have undergone—and continue to experience—major changes and disruption. Worker shortages, rapidly changing customer demands, logistics problems, transportation bottlenecks, and other factors have all contributed to challenges. Even sales patterns that used to be easy to predict, such as those based on holidays and seasonal buying, have become much harder to understand, amplifying…
Business strategy A business strategy consists of setting goals, objectives, and priorities for the business vision and mission. The strategy owners use their portfolios of assets, services, and products to achieve the business's goals. A business will often have multiple strategies, such as having a digital strategy that supports their service or product strategy.…
When most company leaders think about their data warehouse and the systems connected to it, they typically think about their internal IT systems. For companies with outsourced supply chains, real time integration with their suppliers’ systems and data warehouse can enable better insights, better security and more supply-chain agility. Very few companies today are…
