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The Power of Predictive Analytics in the Supply Chain

Enterra Insights

One of the early tools used by soothsayers was the crystal ball. They spend enormous sums on planning and forecasting technologies. One of the most recent tools being adopted by businesses is predictive analytics. Predictive analytics plays an essential role in the digital era. ”[2].

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Predictive Analytics and Future Supply Chains

Enterra Insights

That’s why spending on supply chain advanced analytics is on the rise. Analysts from River Logic write, “The importance of supply chain analytics is demonstrated by predictions that the market will grow at a CAGR of 17.3% Cognitive technologies and predictive analytics.

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Seeing the Future with Predictive Analytics

Enterra Insights

Today, in addition to those activities, new analytical tools are available to help business leaders predict what could happen in the future. Those tools became possible with the creation of large datasets (aka big data) and the maturation of artificial intelligence (AI). ” Types of analytics. 2] They are: 1.

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Supply Chain Analytics: What It Is and Why It Matters

QAD

What is Supply Chain Analytics and Why is it Important? Supply chain analytics allows businesses to examine their operations and view data in real-time. What is Supply Chain Analytics? In the early 2000s, companies began embracing ERP systems to analyze supply chain performance.

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Technology Support in Integrated Business Planning: Automation, Augmentation and Human Centricity

Supply Chain Trend

Preview In his 2019 Foresight article, Niels van Hove examined eight technological hurdles that must be overcome to enable autonomous or ‘lights out’ supply-chain planning. He reasoned that to support such planning we need to implement a third wave of integrated supply-chain planning software. Key Points.

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Digital Supply Chains Require People, Processes, and Technology

Enterra Insights

It took years of wandering for the supply chain to end up in the morass in which it currently finds itself. Although portions of the supply chain are functioning well, many consultants believe a true transformation is needed in order to make the global supply chain more resilient.

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Predictive Analytics: Supply Chain’s Cloudy Crystal Ball

Enterra Insights

Not surprisingly, companies that employ advanced analytics to improve decision making and execution have the results to show for it.”. One of the new tools available to decision makers is predictive analytics. Leveraging predictive analytics is as close as business leaders will come to having a crystal ball.