‘What gets measured, gets improved’- the role of advanced analytics in supply chain management
Wael Safwat has rightly said “It’s not the organizations that are competing, it’s the supply chains that are competing”. Hence the management of supply chain is vital for the organization’s lucrative performance. Supply chain management focuses on cost reduction, improved efficiency & demand satisfaction. Supply chains are complex in nature & play a prominent role in the organization’s cost structure and profitability. Moreover, supply chains generate massive amounts of data & Supply Chain Analytics helps to make sense of all this data — generating new information, recognizing patterns, & predicting outcomes & their respective probabilities. It also improves the existing projects, has the potential to generate new business leads & even introduce new products and services. There are different types of analytics: descriptive, prescriptive, predictive & cognitive analytics. These can be applied depending on the primary analysis & model of supply chain used.
3SC aims at creating a synergy across supply chain while reducing cost and improving shipment facility through its extensive 4PL services. It ensures the standardization of the process of logistics execution across various nodes.