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supply chain analytics

Quantzig’s Supply Chain Analytics Solutions Helped A Renowned Medical Device Manufacturer to Curtail Risks Associated with The Supply of Products and Improve Supply Chain Visibility

“With the help of Quantzig’s supply chain analytics solutions, we were able to improve supply chain planning, reduce excess spend. and improve the demand forecasting process.”

About the Client

The client is a renowned medical device manufacturer based out of Austria. 

The Business Challenge

With operations becoming complicated, a renowned medical device manufacturer faced the need to increase the efficiency of their operations across the supply chain to remain competitive in the market space. With the growing concerns related to delayed shipments, inefficient plants, and inconsistent suppliers, the medical products manufacturer wanted to reduce operational costs to improve supply chain responsiveness and product quality. Also, the medical products manufacturer wanted to gain insights into healthcare trends in terms of the people, processes, assets, and the entire value chain.

Quantzig’s cognitive supply chain analytics capabilities help organizations to analyze dynamic demand patterns and improve forecasting capabilities. Request a free brochure of our analytics solutions right away to gain in-depth insights.

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Based on the business requirements, the client collaborated with Quantzig  to leverage its expertise in offering supply chain analytics solutions to help them achieve better visibility and control over the supply chain and logistics operations across all locations and build capabilities to identify savings opportunities.


Solution Offered and Value Delivered

Quantzig’s advanced supply chain solutions help companies identify new opportunities within the supply chain and benchmark costs across each of the supply chain nodes. Quantzig’s dedicated team of experts used best-in-class processes, cutting-edge tools, and their deep domain expertise to design a three-pronged approach to tackle the challenges faced by the medical device manufacturer. This comprehensive approach helped the client to transform their supply chain into a world-class organization that’s tailored for success.

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Phase 1

The first phase of supply chain analytics engagement focused on supply chain risk analysis. Our analytics experts helped the client to gain insights into historic supply chain information by region, vendor, and product hierarchies. Such detailed insights empowered the client’s sourcing team to improve their supply chain decisions.

Phase 2

The second phase of this supply chain analytics engagement revolved around developing a customized dashboard to help the client track and control inventory in the warehouse. This helped the client to precisely track and monitor supplier performance in real-time and drill down to the root cause of performance inadequacies.

Phase 3

The third and final phase of the supply chain analytics engagement focused on improving supply chain visibility. This enabled the client to gain real-time visibility into their supply chain processes and identify potential risks that were impacting their ability to deliver the right products at the right time.

We help companies to optimize working capital and boost bottom-line results with the help of our customized supply chain analytics dashboards. Gain limited-time complimentary access to our analytics platform today.

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Business Outcome

Supply chain analytics solutions offered by Quantzig helped the medical devices manufacturer to gain relevant insights into the medical devices sector and the opportunities in the medical devices manufacturing space.

Quantzig’s supply chain analytics solutions also empowered the client to:

  • Enhance supply chain visibility
  • Improve demand forecasting methods
  • Optimize supply chain networks and improve efficiency

Learn more about how our supply chain analytics solutions can help you optimize your inventory and drive profitability.

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supply chain analytics

Supply Chain Analytics Engagement Helped a Leading Food and Beverage Manufacturer to Identify Potential Savings Worth Around $3M- Quantzig’s Success Story

The client is a leading food and beverage manufacturer based out of Sweden. With a considerable number of manufacturing units spread across Europe, the client was facing predicaments such as lack of visibility through their supply chains, over and understock inventory. Therefore, they approached Quantzig to leverage its expertise in offering supply chain analytics solutions, to track their products through all stages of the supply chain and enhance their approach to supply chain management.

Business Challenge

With the constantly evolving economic and geopolitical environment, businesses cannot afford to not know their supply chain processes in detail. This holds true for food and beverage companies as they deal with trend-driven products, where in addition to the supply chain hitches, they are consistently exposed to dynamic fluctuations in consumer demands and markets trends. Furthermore, such factors leads to unforeseen supply chain interruptions and a shortage of raw materials.

The client, a leading food and beverage manufacturer, faced multiple supply chain challenges due to their inability to make sense of the plethora of data from suppliers and external third-party sources. They approached Quantzig to leverage its supply chain analytics expertise.

Quantzig offers a comprehensive portfolio of customizable supply chain analytics solutions to help companies improve supply chain management, reduce wastage, and excess inventory costs. Request a FREE proposal to gain better insights.

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Top Challenges Faced by the Client

Problem Statement 1:

The food and beverage manufacturer faced predicaments in identifying supply chain risks and opportunities due to their inability to combine real-time datasets with market insights. As a result, their market expansion efforts were getting hampered.

Problem Statement 2:

Due to the lack of historic datasets related to suppliers, the client found it challenging to track and control inventory in warehouses and stores.

Problem Statement 3:

The third challenge that the client faced was to combine the dynamic demand signals with real-time market insights to make data-driven supply chain decisions and to proactively respond to the changing market needs.

Supply chain analytics experts at Quantzig help leading organizations to analyze dynamic demand patterns and improve supply chain visibility. Get in touch with them right away!

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Solution Offered and Value Delivered

Phase 1:

The first phase of this supply chain analytics engagement revolved around supply chain risk analysis. In this phase, our supply chain analytics experts helped the client to gain insights into historic supply chain information by region, vendor, and product hierarchies. The extracted data was then contextually juxtaposed with external risk and cost factors. This, in turn, empowered the client’s sourcing team to make better supply chain decisions.

Phase 2:

In the second phase of this engagement, the supply chain analytics experts developed a customized dashboard to help the client track and control inventory in the warehouse. The use of advanced analytics dashboards  empowered the food and beverage manufacturer to precisely track and monitor supplier performance. Furthermore, this helped the client’s sourcing team to drill down to the root cause of performance inadequacies 

Phase 3:

The final phase in the supply chain analytics engagement focused on improving supply chain visibility. Quantzig’ supply chain analytics experts helped the client to gain real-time visibility into their supply chain processes and identify potential risks that could impact their ability to deliver the right product at the right time.

 

With the help of customized analytics dashboards, the client gained detailed insights into their inventory levels, order status, and market demand in addition to supply chain processes. By gaining in-depth supply chain insights, the food and beverage manufacturer was better positioned to tackle supply chain disruption, understock and overstock situations. The offered solution also helped the client to identify potential savings worth around $3M by reducing distribution costs and enhancing the flexibility of the supply chain.

Synchronize demand planning with production and adjust to changes in available materials with the help of our customizable supply chain analytics solutions. Request a FREE demo now.

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Why choose Quantzig as your next analytics partner?

Supply chain analytics is the need of the hour in today’s complex business scenario. Though food and beverage industry players have been adopting new ways to implement analytics and improve supply chain efficiency. Not many have been successful in adopting and implementing a process that leverages analytics to draw insights from supply chain data. We, at Quantzig, can help you identify new opportunities within the supply chain and benchmark costs across each of the supply chain nodes. Also, Quantzig’s supply chain analytics expertise can help you design and implement optimal purchase processes by offering the ability to discover potential opportunities in the new market.

To learn more about how our supply chain analytics solutions can help you reduce maverick spend and improve supply chain management capabilities, request for more information below.

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supply chain visibility

Weekly Round-Up: A Storyboard on the Importance of Supply Chain Visibility

LONDON: Quantzig, a leading analytics services provider, has announced the release of their latest storyboard on the importance of supply chain visibility and how it can help businesses improve customer service and control costs through proactive status updates of inventory, effective inventory management, reduction in supply chain disruptions, and risk mitigation. Supply chain visibility is the key to gain advanced insights into supply chain operations.

By leveraging supply chain visibility solutions, companies can integrate such insights with customer’s data and optimize their supply chains efficiently. Also, supply chain visibility can help businesses to understand customer demands, improve decision making, and enhance agility.

Quantzig’s analytics solutions have helped leading companies to make data-driven decisions and boost profitability. Below, we have summarized some of Quantzig’s recent success stories for this week and have also highlighted ways in which supply chain visibility solutions have helped companies to improve workflow and reduce inventory effectively.

Are you wondering how to increase the efficiency of your supply chain operations? Our supply chain analytics solutions can help. Get in touch with our experts now!

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#1: Supply chain visibility reduced the replenishment rate by 20%: Optimizing the decision-making process and increasing efficacy in the supply chain are daunting tasks for companies across industries. But it should not be a matter of concern if your organization has a better perceptibility of the supply chain processes. A leading manufacturer in the U.S was facing a similar issue but experienced a great change in their replenishment cycle by leveraging Quantzig’s supply chain analytics solutions. These solutions also helped them to improve their forecast accuracy by 85%.

Supply Chain Visibility Engagement – 20% Reduction in Replenishment Cycle

#2: Mitigated the failures across inbound and outbound supply chains with the help of supply chain analysis: Are failures in inbound and outbound deliveries worrying you? This is where supply chain visibility solutions can help as it helped one of Quantzig’s clients, a renowned sports goods and apparel manufacturer. By leveraging Quantzig’s solution, the client was able to gain insights into the exploratory and univariate inbound data. Also, supply chain visibility solutions helped the company to identify the wholesale channel that had the lowest out-bound OTIF levels.

Supply chain visibility and root cause analysis for OTIF failures across inbound and outbound supply chains

#3: Why is supply chain visibility important for your business? Globalization, rapidly growing competition, and the increasing market complexities have swollen the difficulty for companies to keeps tabs on their ever-expanding networks of the supplier. This is the time for companies to leverage supply chain visibility solutions. Supply chain visibility aims at improving and strengthening the supply chain and making information easily available to all the stakeholders. This further facilitates forecasting and helps in better demand management.

4 Reasons Why Supply Chain Visibility is More Important Than You Think

Our supply chain management solutions help companies to enhance their supply chain visibility and demand forecasting capabilities. Request a FREE proposal today to know more about our portfolio of services.

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#4: Supply chain analytics solutions improved inventory management: Do you really think reducing inventory levels and improving operational performance is a difficult task? If yes, then take a look at our latest success story during the course of which we helped a client to simplify the supply chain complexities and minimize disruptions significantly. Also, it helped the client to focus on blind spots to respond to the disruptions in a timely manner and satisfy the future demands of customers efficiently.

Supply Chain Visibility for a Leading Healthcare Retail Client Helps Maintain Better Inventory Levels

#5: What are the most crucial components of supply chain visibility? A good supply chain visibility solution enables all the stakeholders to monitor and track the movement of supplies throughout the supply chain system. There are several critical components of supply chain visibility that help businesses to improve productivity by providing visibility into the supply chain processes. Read this full article to find out what are those components.

4 Components of Supply Chain Visibility That You Need to Work on

#6: Supply chain visibility facilitated innovative care models for customers: A leading healthcare industry player approached Quantzig to gain better visibility into their supply chain process from the supply stage to the end customer delivery. Also, the client wanted to identify and eliminate factors behind the delay in the delivery of products and reduce variability. Quantzig’s supply chain visibility solutions offered real-time visibility into the shipment lead times, production rates of supplier, and customer sales projections. Furthermore, Quantzig’s customized analytics solutions helped the client to offer innovative care models to their customers.

Supply Chain Visibility Helps a Renowned Healthcare Client Offer Innovative Care Models to the Customers

Quantzig offers customized analytics solutions to improve order fulfilment ratios and increase operational efficiency. Request a FREE demo to know how our customized analytics dashboards can help your business.

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#7: Unveiling the secret tips to boost your supply chain visibility: Ignorance is never bliss, well at least in this case. If you are unaware of products and parts in transit within your supply chain network, you are lagging behind most of your competitors. Supply chain visibility solutions may hold the key to success. Supply chain visibility can help your organization to respond proactively to drastic supply and demand changes by enabling you to take corrective actions and redirect supply or demand. Also, it provides a real-time picture of the inventory levels that can further help businesses to meet their compliance goals. Here are the secret tips that can help you boost your supply chain visibility significantly. Read more.

Secret Tips to Boost Your Supply Chain Visibility

#8: Supply chain visibility improved supply chain efficiency by 10%: Are you facing difficulty in managing the immense surge in demand? If yes, then you must be going wrong somewhere in optimizing the end-to-end supply chain functionalities right from suppliers to the customers. Quantzig solved one of its client’s similar issue by offering its supply chain visibility solutions that proved beneficial in identifying shortages and eradicating disruptions in the supply chain. Furthermore, this paved the way for effectively responding to production bottlenecks while improving agility in the supply chain management.

Quantzig’s Supply Chain Visibility Solution Helped a Renowned Medical Equipment Manufacturer Improve Supply Chain Efficiency by 10%

#9: Reasons why can’t you avoid supply chain visibility solutions in today’s business environment: Evergrowing competition, globalization, and increasing complexities in the business environment are some of the major roadblocks for organizations today. These factors act as hurdles for companies in effectively managing their ballooning supplier networks.  Therefore, companies can’t overlook the supply chain visibility which is obviously challenging but also important for businesses. This article offers a detailed overview of the reasons why avoiding the incorporation of supply chain visibility solutions can be precarious for businesses.

Five Undeniable Reasons Why You Need to Take Supply Chain Visibility Seriously

#10: Supply chain visibility boosted revenue by minimizing the cost to serve: Every business aims at gaining timely access to accurate supply chain information for inventory optimization and demand planning. One of the leading retailers of the US with a similar goal approached Quantzig to develop an effective strategy for enhancing supply chain visibility and demand-supply management. They wanted Quantzig to help them address the supply chain complexities in terms of manufacturing partners, suppliers, and logistics. By leveraging Quantzig’s supply chain analytics solutions, the client was able to improve its supply chain management and demand forecasts, while witnessing significant improvements in the overall performance.

Five Undeniable Reasons Why You Need to Take Supply Chain Visibility Seriously

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Supply Chain Network Optimization

How Can Supply Chain Analytics Help Streamline Inventory Lifecycle?

In a highly competitive market driven by digitally empowered customers, supply chain analytics turns out to be a golden key to stay ahead of the curve. An inefficient supply chain leads to critical challenges such as lack of innovation, lack of accountability, and reduced visibility. At Quantzig, we help you navigate this competitive marketplace through our modern supply chain analytics solutions.

Key Challenges

New technologies coupled with skyrocketing datasets can impact the supply chain consistently. As a result, companies find it difficult to have a flexible and transparent supply chain. Also, ensuring compatibility throughout the supply chain is not an easy task for organizations. But supply chain analytics can help deal with all these issues effectively. It can offer actionable insights into the potential risks in inventory management and mitigate them by analyzing scenarios. Additionally, supply chain analytics can assist in organizing the reverse logistics process and make supply chain management better. These are only some of the many solutions that big data analytics can offer to your supply chain. But do you know which particular supply chain analytics solution can suit your organizational needs? Quantzig can help.

Download a free copy of this article on leveraging supply chain analytics to improve inventory lifecycle and gain in-depth insights into how analytics solutions can help you in inventory management.

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Our Solution

Quantzig’s supply chain analytics approach is not a one-stop solution for all, but a solution that is customized for your organization. We provide a framework that comprises different supply chain analytics solutions and helps in solving end-to-end supply chain issues. We promise to offer a structured approach in defined steps that starts right from analyzing the current scenario to the execution of specific solutions that can vary from inventory management to supply chain management to logistics optimization.

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Key takeaways:

  • Learn how to reduce inventory costs through smart demand sensing
  • Gain comprehensive insights into ways to improve production plan and inventory optimization with the help of supply chain analytics
  • Establish a consistent approach to promote cross-functional collaboration
  • Understand how a proper supply chain analysis framework can empower sales and operation execution
  • Learn how supply chain analytics can help you measure cash to cash cycle time
  • Comprehend how supply chain analytics solutions can enhance the functioning of transport logistics
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Why Quantzig?

Quantzig has substantial data analytics experience in the supply chain landscape by working with our clients across the globe with end-to-end data modelling capabilities. Our supply chain framework comprises solutions that help our clients in prudent decision making. Our comprehensive approach to analytics projects ensures that we drive any organization’s competitive readiness and success and deliver crucial business insights within time and budget. We always aim to bring together the best combination of analysts and consultants to maximize business outcomes and drive continuous market excellence.

supply chain analytics

Weekly Round-Up: A Storyboard on The Importance of Supply Chain Analytics Solutions

LONDON: Quantzig, a leading analytics services provider, has announced the release of their latest storyboard on the importance of supply chain analytics and how it can help businesses in improving supply chain visibility and merchandising capabilities. In today’s competitive business scenario, companies find it difficult to monitor operations in real time and eliminate data silos. This is where supply chain analytics can come to the rescue.

By leveraging supply chain analytics solutions, companies can calibrate their entire supply chain network efficiently. Supply chain analytics can help companies in supply chain management and improve operational efficiency to facilitate quick time-to-market. Additionally, it can enhance the end-to-end performance of the supply chain and boost demand forecasting and logistics operations.

To stay ahead of the curve and create lean operations, supply chain leaders must leverage supply chain analytics solutions to yield the visibility they need into their entire operation.

Quantzig’s analytics solutions have helped many leading companies to make smart and data-driven decisions and boost growth. Below, we have summarized some of Quantzig’s recent success stories for this week and have also highlighted ways in which supply chain analytics can help companies to analyze market demand, the impact of indirect supply chain cost and boost ROI.

Analytics-driven control metrics enable companies to gauge critical events in the supply chain in real-time. Want to know how? Request a FREE proposal now.

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#1. Supply chain analytics reduced distribution cost by about $8M: Identifying supply chain risks and opportunities by combining real-time datasets is a daunting task for businesses. But supply chain analytics solutions can make this task easier by precisely monitoring the performance data of suppliers through analytics dashboards. Also, supply chain analytics solutions can offer detailed insights into inventory and market demand. Furthermore, this can facilitate supply chain optimization and enhance supply chain flexibility.

Leading Sports Brand Leverages Supply Chain Analytics, Identifies Potential Savings Worth Around $8m

#2. What are the benefits of supply chain analytics?  Supply chain analytics can help organizations to achieve operational excellence in multiple activities ranging from procurement of raw material to order fulfilment. Also, by leveraging analytics solutions in supply chain companies can enhance their category management practices and consolidate the supplier base to minimize operational costs and improve contract compliance.

Unveiling the True Potential of Supply Chain Analytics

#3. Supply chain analytics minimized inefficiencies in supply chain management: Are obsolete inventory management systems leading to poor business outcomes? No more, as supply chain analytics is here to help you out. Supply chain analytics has the potential to help companies solve several complicated decisions by leveraging millions of decision variables, trade-offs, and restrictions. It can help in identifying the key opportunities to bring about improvements in profit margins. Furthermore, this can assist in optimizing supply chain operations by combining descriptive and prescriptive data sets.

Supply Chain Analytics Solutions for Food and Beverage Companies – A Quantzig Case Study

Customized analytics dashboards can offer a 360-degree view of the supply chain operations. Request a FREE demo below to know more.

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#4. Supply chain analytics eased the interpretation of market trends and enhanced operational efficiency: Catering to the growing demands while focusing on affordability is one of the major concerns for companies across industries. One of Quantzig’s clients faced a similar issue and approached Quantzig to leverage its expertise in offering supply chain analytics to bring about significant improvements in markdown percentages. Quantzig’s supply chain analytics solutions offered unparalleled visibility into the supply chain risks and demand uncertainty by interpreting the market trends in real-time.

Supply Chain Analytics for a Power and Energy Market Client – A Quantzig Case Study

#5. What’s new in supply chain analytics in 2019? Technological progress is becoming very important for companies in every sector. Supply chain management is also witnessing new trends and technologies every day. This makes it important for companies to understand the latest and existing trends to assess the benefits of evolving technologies and prioritize organizational goals. The advent of technologies like IoT and data unification in supply chain analytics has resulted in an accurate forecast of possible complications and better supply chain visibility.

What’s New in Supply Chain Analytics This Year?

#6. Supply chain analytics transformed the existing supply chain strategies and increased savings: Developing efficient supply chain strategies can be a cause of concern for businesses but you need not fear if you have a proper supply chain analytics solutions in place. A leading skincare products manufacturer was facing the same issue but experienced a great change in operations and savings by leveraging Quantzig’s supply chain analytics solutions. These solutions helped them to anticipate customer demand and accordingly regulate their inventory levels. Additionally, it assisted them in identifying top suppliers and in fine-tuning their existing strategies that resulted in increased savings.

Supply Chain Analytics for A Leading Skin Care Products Manufacturer Helps Fine-tune Existing Supply Chain Strategies and Improve Efficiencies

Are you finding it difficult to analyze supply chain data in real-time? Get in touch with our experts.

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#7. What is the importance of supply chain analytics in today’s business environment?  With the increasing pricing pressures and aggravating customer demands, companies across industries are facing predicaments in enhancing supply chain efficiency and operational speed. Companies need to evolve their supply chain execution systems and tweak their marketing techniques to accommodate the growing customer demands and dynamic market conditions. Supply chain analytics holds the solutions to all of these issues. It allows companies to analyze their supply chain data and identify the efficiency gaps. This, in turn, accelerates sales, speeds-up material movement, and improves supply chain standards.

Supply Chain Analytics: A Game-changer in Boosting Your Supply Chain Efficiency

#8. Supply chain analytics improved demand forecasting capabilities significantly: Do you really think devising an effective demand forecasting model to improve end-to-end supply chain visibility is a myth? If yes, then you must go take a look at Quantzig’s latest success story where one of its clients faced a similar predicament but realized a major improvement in their capabilities to forecast demand through the use of a suitable demand forecasting model. Furthermore, supply chain analytics solutions proved to be extremely helpful in providing end-to-end visibility on supply journey of each product.

Supply Chain Analytics: A Game-changer in Boosting Your Supply Chain Efficiency

#9. What are the key supply chain challenges? The growing complexity of business environment has forced companies to re-shape their business models. Due to such complexities, companies are facing multiple supply chain challenges increasingly complex patterns of consumer expectations and customer demand. Therefore, supply chain analytics has become the need of the hour for companies if they really want to stay ahead in the competition. It can aid companies to identify specific processes and analyze the potential areas of waste or inefficiency.

How Supply Chain Analytics Can Help Solve the Biggest Supply Chain Challenges

#10. Supply chain analytics solutions minimized inventory levels and checked vendor risks: Measuring the supply chain and vendor performance to increase profitability has become one of the major roadblocks for many companies. Are you facing the same problem? Supply chain analytics may hold the key to success. By leveraging analytics solutions in supply chain, companies can optimize their existing route and logistics operations to minimize inventory levels. Additionally, these solutions can help in measuring key vendors’ performance that can further help in mitigating future risks.

Supply Chain Analytics Helps a Leading Processed Foods Retailer Minimize Inventory Levels and Monitor Vendor Risks

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Unveiling the True Potential of Supply Chain Analytics

Supply chains are lucrative platforms for gaining a competitive advantage. This is because of two reasons which include their complexity and their role in defining the cost structure of a company.  With the growing data complexity, most companies are finding it difficult to model their trade-offs of growth and supply chain cycles such as the procurement process. This is where supply chain analytics can help.

By leveraging supply chain analytics solutions, companies can fine-tune their entire supply chain network in ways that was probably not possible in the past. Supply chain analytics can help in effective supply chain management and identification of inefficiencies in supply chain configurations. It has the potential to improve the end-to-end performance of the supply chain in terms of financial, operational as well as managerial aspects. Therefore, it is high time that companies realize the potential of supply chain analytics in a real sense.

The growing complexity and globalization have put supply chains into the limelight like never before.

At Quantzig, we understand the difference that supply chain analytics can create in the supply chain operations of a company. And to help companies deal with the logistics and transportation challenges as well as improve the supply chain strategy, our team of experts has highlighted a few major benefits of supply chain analytics that can act as a guide for companies to understand market volatility, the impact of indirect supply chain cost and improve ROI.

Looking to improve efficiency across the supply chain but wondering where to start? Get in touch with our experts.

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Benefits of Supply Chain Analytics

Gain a significant ROI

Supply chain analytics has the ability to analyze the structured as well as unstructured data. The insights gained from such data can help companies to respond quickly to customers’ demand maintaining integrity and accuracy.

Understand the risks better

Supply chain analytics can help in identifying the known and unknown risks. Also, it can assist in predicting future risks by identifying trends and patterns across the supply chain.

Improve accuracy in planning

By analyzing customer data thoroughly, supply chain analytics can help businesses to precisely predict future demand. Also, it guides an organization in decision-making regarding production by analyzing customer demand and market trends.

Achieve the lean supply chain

Supply chain analytics can be used by companies to monitor the responses of stakeholders, warehouse, and customer needs for data-driven decisions.

Our supply chain analytics solutions help businesses to tackle challenges such as reduced visibility and inefficient operations across the supply chain and also offer them actionable insights to facilitate quicker decisions for global supply chain management. Request a FREE proposal to know more about our portfolio of services.

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Prepare for the future

Companies are leveraging advanced analytics for supply chain management. Advanced analytics has the potential to process both unstructured and structured data to offer organizations a competitive edge. Also, it sends timely alerts that facilitates better decision making. Furthermore, supply chain analytics can establish a correlation among different sources and minimize risks.

5 C’s of Supply Chain Analytics

Connected

Supply chain analytics makes unstructured data from various social media platform and structured data from the Internet of Things (IoT) accessible.

Collaborative

Supply chain analytics enhances collaboration with suppliers across the entire supply chain through cloud-based commerce networks.

To know how our analytics solutions can help you in quick and accurate decision making, request a free demo below.

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Cyber-aware

Using analytics in the supply chain also ensures the security of the supply chain from cyber hacks and intrusions.

Cognitively enabled

Using analytics in the supply chain improves the capability of the supply chain through automation. It helps in coordinating, collating, and conducting decisions across the entire supply chain.

Comprehensive

Supply chain analytics offers comprehensive and fast insights in real-time as latency is something that is not acceptable in the future supply chain.

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predictive analytics

Five Undeniable Reasons Why You Need to Take Supply Chain Visibility Seriously

What is supply chain visibility? 

Supply chain visibility refers to the ability of businesses to track their goods and products that are in-transit from the manufacturing stage to the final destination and gives a comprehensive view of the inventory levels. One of the key goals of supply chain visibility is to improve and strengthen the supply chain by ensuring that tGet More Infohe data is readily available to all stakeholders, including customers. As more number of companies are outsourcing their supply chain, they tend to lose control and visibility in the supply chain.

Importance of having visibility in supply chain operations 

Rising competition, globalization, and growing complexities in the marketplace are the major roadblocks for companies in effectively managing their ever-expanding supplier networks.  Clear visibility in the supply chain is challenging but also more vital to businesses today than ever before. Here’s why:

Bigger and complex supply chains

Most companies today operate on a global scale, as a result, their supply chain is much more complex and bigger, making them extremely difficult to manage. Consequently, if companies do not have good supply chain visibility, it can hamper their ability to communicate effectively and make quick, informed decisions. In such situations, companies must invest in a cloud technology that is capable of managing big data or work with a logistics company that specializes in transportation management.

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What’s New in Supply Chain Analytics This Year?

With each passing day, technological progress is becoming more and more important as it affects every part of the company. In the case of supply chain management, new technologies and trends appear frequently. This is one of the main reasons why it is vital for companies to understand which trends exist, assess the potential benefits of evolving technologies, and prioritize implementation of goals. With the advent of advanced analytics and technology, the supply chain is evolving perhaps more rapidly than ever before. Industries like retail are increasingly relying on advancements such as supply chain analytics to ensure smooth flow of operations. The fact that you might hardly ever see an empty shelf in a retail store is proof enough. The insights gained from supply chain analytics go right to the heart of how a business performs. With time, supply chain analytics has been progressing and iRequest Solution Demos now becoming more sophisticated. Here are some recent developments you need to know about:

Internet of Things (IoT) 

Internet-connected sensors and devices have immense potential in supply chain analytics. Supply chain management works on the philosophy of getting the right products to the right customers at the right place and time. Earlier, organizations relied heavily on historical data in order to forecast their manufacturing schedule and quantity based on the customer demand. Often, this method can prove to be inaccurate and expensive. With the advent of IoT in supply chain analytics, companies can use data collected in real time from products equipped with IoT devices to predict failures more accurately.

Data unification

Recently, there has been a major evolution in supply chain management across organizations. These advancements have resulted in better supply chain visibility, efficiency, and profitability. In the coming years, the industry will continue moving to the end-to-end supply chain management model foundational to Industry 4.0. This will further ensure that entities at every level of the supply chain will have equal access to actionable, accurate data. Consequently, more number of organizations will be encouraged to adopt supply chain analytics to increase their profitability and promote improved decision-making.

Big data in the supply chain

Supply chain management generates a large amount of data on a daily basis. Interestingly, in most cases, companies are unsure of what to do with this data. But as the industry moves toward seamless integration of advanced supply chain analytics, it will be crucial to put all that data to work. By relying on big data solutions, companies will be able to make better use of the data in-hand and convert this big data into ‘smart data’. Smart data will help identify the business problem, determine the source of data to solve the problem, and then finally use it for gaining the desired solution.

Hybrid supply chain strategy

Though initially, organizations started moving to a lean supply chain approach, the increasing complexity of the supply chain has prompted companies to gradually move to an agile approach. However, smart players are now adopting a hybrid supply chain management strategy. This will further facilitate better supply chain analytics as companies can now not only predict possible complications more accurately but also react to the unexpected more effectively.  

To know more about the opportunities and challenges and supply chain analytics and tips to ensure better supply chain management

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data warehousing and data mining

Secret Tips to Boost Your Supply Chain Visibility

Ignorance is not bliss! Being unaware of parts, components, and products in transit within a supply chain can be devastating. Organizations should use supply chain visibility to improve and strengthen the supply chain by making the necessary data available to all stakeholders and customers. Supply chain visibility also promotes quick response to sudden changes by allowing the privileged users to take corrective actions and reshape demand or redirect supply. Providing an accurate and real-time picture of supplier inventory levels and demand signals, helps the company to meet compliance goals. Although the need for supply chain visibility has been established, few companies stillRequest Solution Demo struggle to properly implement it. Here are some supply chain visibility tips to help you optimize your supply chain:

Reduce stocking point

Having multiple stocking points within the distribution channel can diminish supply chain visibility. What happens is instead of having a look at one figure for one SKU, companies with multiple stocking points suffer from multiple data of the same SKU. A quick fix to tackle such a problem would be to reduce stocking points and avoid information overload.

Shorten pipeline

Outsourcing and global sourcing is a common modern business practice. However, as the number of members in the supply chain increase, so does the time taken for information to flow from one end to the other. As a result, it hampers supply chain visibility. Companies can use intermediaries such as trading companies, 4PL providers, and international procurement office to shorten the pipeline. Supplier rationalization can help in reducing the supply base and contribute towards increasing visibility.

Find the bottlenecks

Why is it not possible to see anything and everything that is happening in the supply chain? It is because bottlenecks exist in the certain process, which can result in quality issues or high downtime. Finding the bottlenecks in the production facilities can save you time and resources.

Smooth ordering

A bullwhip effect is the most challenging phenomena to deal with in a supply chain. Small changes in the inception of a supply chain can create huge gaps at the end. Order batching or excessive promotions at the end of the quarter can create a ‘peak and valley’ demand pattern that is arduous for supply chain managers to handle. In such a case, using annual contracts or blanket orders will help manage demand with much flexibility.

Avoid safety lead times

In a classic material planning setting, safety lead times are often used to compensate variability in lead-time. For every step of the order cycle, extra lead time is added. For instance, for safety purpose, companies usually add 2-3 days of possible delay time in customs clearance. It creates conflicts in the lead-time information system and supply chain managers cannot claim an accurate lead time with certainty.

Apart from these tips, companies should invest in the multi-skilled workforce and empower employees to make decisions by simplifying rules and business processes. Investing in agility can greatly contribute towards supply chain visibility.

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Answers to the questions

4 Reasons Why Supply Chain Visibility is More Important Than You Think

What does supply chain visibility mean for your business? Going by the definition, supply chain visibility is all about knowing where inventory is at any given time, and how well parts, components or products in transit can be tracked as they move from the manufacturer to their final destination. The ultimate goal of supply chain visibility is to improve and strengthen the supply chain by making information readily available to all stakeholders. This would enable a quick response to any errors or changes in the SCM. It means that the demand can be reshaped, and supply redirected whenever, and however, it is necessary to do so. Gone are the days when a handful of specialists and a proper enterprise resource planning (ERP) system could make sure that products are manufactured and delivered efficiently to customers. Globalization, rising competition, and the growing market complexities have broadened the difficulty for companies to keeps tabs on their ever-expanding supplier networks. Gaining supply chain visibility is a challenging task, but also more critical today than ever before.

Importance of Supply Chain Visibility

Rising complexity of SCMRequest Proposal

Several companies today operate on a global scale and use various mode of logistics and shipping to serve their customers. In this case, having a good supply chain visibility is essential to track the supplier network activity accurately and manage SCM efficiently.  But even if your company may not have to deal with the global demand and supply, there is a good chance for your supply chain to become extensive and complex. Proper communication and the ability to make quick and informed decisions could be a challenge. In this case, the best solution to boost supply chain visibility may be to invest in a cloud technology that is capable of managing big data or to work with a logistics company that specializes in transportation management.

Meeting customer demand

Today, customers have more options than ever before. This puts them at the liberty to demand more. Modern customers expect shorter cycle times and will be less tolerant of late deliveries or mistakes. To meet such high demands, companies need a transparent, more efficient supply chain, and a better flow of data and information. A system that provides a comprehensive supply chain visibility will help create better consistency in identifying SKUs, measuring units, and enforcing timelines.

Compliance with regulatory demandsDemo

Supply chain visibility tools help companies track the constantly changing landscape of government regulations and compliance. This is especially useful for companies who operate on a global scale in managing the complexity of trade agreements and government tariffs. Furthermore, companies can better anticipate and respond to new regulations in the industry and in terms of transportation used.

Facilitates Forecasting

To make the most out of supply chain visibility, proper information-sharing, analysis, collaboration, and decision-making are vital. Companies must have a team that can dissect information, communicate with suppliers and business partners, and model different outcomes. This analytical approach to data will not only improve your supply chain performance today; it will help companies to anticipate the future.

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