Data Science Tools of the Trade: Monte Carlo Computer Simulation

Arkieva

Data Science Tools of the Trade: Monte Carlo Computer Simulation was first posted on November 24, 2020 at 7:39 am. ©2017

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Make Better Logistics Sourcing Decisions with Data-Driven Optimization

Talking Logistics

Over the past few years, as supply chains have grown in scale and complexity, so has the logistics sourcing process. Mature sourcing organizations, which have been doing traditional sourcing and category management, are starting to plateau in terms of savings and impact to their organizations, yet each year are faced with increasing savings mandates and pressure to improve performance. How are companies achieving better outcomes by using data-driven optimization?

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Using Satellite Imagery as a Data Source to Improve Supply Chain Management

Logistics Viewpoints

Satellite imagery data represents another data set that may have the potential to improve company’s supply chains. The post Using Satellite Imagery as a Data Source to Improve Supply Chain Management appeared first on Logistics Viewpoints. There are potential uses surrounding procurement, sustainability, and strategic planning. Supply Chain Planning Satellite imagery

Transportation Sourcing in an Omni-channel World

Talking Logistics

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? According to Joe, enVista’s Director of Transportation, “The key to omni-channel sourcing is that it requires you to understand your goals and objectives.

End to End Supply Chain Visibility - Solving The Data Problem

Trends 2021: Big Data

Enterra Insights

There is no denying we live in the Digital Age and that data is driving the economy. Back in 2014, Joris Toonders ( @joristoonders ), the entrepreneur behind Yonego, wrote, “Data in the 21st Century is like Oil in the 18th Century: an immensely, untapped valuable asset. Like oil, for those who see Data’s fundamental value and learn to extract and use it there will be huge rewards. We’re in a digital economy where data is more valuable than ever. Big Data Trends.

Research in Focus: Sourcing Trends and Concerns

Talking Logistics

Below is an excerpt from a report published recently by Amber Road and the American Association of Exporters and Importers (AAEI) titled “ The Trade Trends Report: 2017 Report on Sourcing, Trade, and e-commerce.” Sourcing is the heart of today’s global supply chains, and decisions made on sourcing impact everything from transportation and shipping costs, to both social and regulatory compliance concerns. Sourcing decisions can complicate or simplify this process.

Supply Chain Big Data: Why Supply Chain Leaders Are Using Big Data Analytics

Cerasis

Thanks to data gathering programs, supply chain software , and data entry applications, this represents a mountain of data, which has the potential to provide ground-breaking insight into how to improve business-model efficiency. As a result, business leaders can reap a significant return on investment by thoroughly analyzing this data. What Is Supply Chain Big Data? Supply Chain big data is the ultimate compilation of data gathered in the course of business.

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. In order to achieve maximum efficiency in freight sourcing and procurement, you need a strong team to handle the requirements. These are the must-haves for any effective freight sourcing team. Subscribe Here! Email Address.

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself. Data rules.

Big Data is Gold

Enterra Insights

We live in the Digital Age in which the global economy is fueled by data. As a result, most analysts believe companies need to transform into digital enterprises so they can take advantage of data and the technologies used to leverage that data. Alex Toma ( @alexbreakline ), a digital marketing specialist, writes, “Data has always been fundamental to the success of digital.”[1] The World Economic Forum has declared big data an asset class like gold or oil.

Freight Procurement in a Pandemic: Preparing for the Bid

CHAINalytics

APAC Blog Feature Supply Chain Consulting Transportation bid preparation category sourcing covid19 Data analysis Freight Procurement freight sourcing Transportation Procurement transportation sourcing

How transparency in the supply chain leads to sustainable sourcing

Pivot88

According to McKinsey’s 2019 chief purchasing officer (CPO) survey, sustainable sourcing at scale is the fashion industry’s new must-have. Only by collecting data at all the different steps, can true transparency be unlocked: Who are my suppliers and my suppliers’ suppliers?

Is Supply Chain “The” Source of Greater Economic Stability?

Logistics Viewpoints

I thought about the transition from “push” processes to greater use of demand pull in replenishment; how retailers are sharing downstream POS data with their suppliers to develop a more efficient supply network; how multi-echelon inventory optimization […]. On Saturday I engaged in a rare weekend activity for myself – I actually thought about supply chain.

New Supplier Registration Process – E-Sourcing

TPSynergy

As part of the Supply Chain Management, an important task of the sourcing team is to identify and Onboard new suppliers regularly. In addition to just collecting the vendor data, a vendor portal like TPSynergy Supply Chain Solution can provide more features.

8 Tips to Help Procurement Optimize Supplier Master Data

ivalua

Gartner predicts that by 2023, organizations that don’t optimize supplier master data management (MDM) could have wrong information for half of their suppliers! Accurate supplier master data (SMD) is essential for procure-to-pay (P2P) automation, accuracy and analytics, but connecting data to users and systems sometimes gets bumpy. The advice comes from this report: “ Gartner Supplier Master Data: Gain Control Over Your Supplier Master Data Before It’s Too Late.”

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How Big Data Analytics is Revolutionizing Sourcing Processes for Walter Charles III

Jaggaer

“Big Data” is everywhere. The value of quality data has never been higher, and the power to process that data is more readily available than ever. To better understand the impact of big data analytics on procurement, we turned to industry veteran Walter Charles, CPO at Allergan, who sees big data as a major disruptor. That key, according to Charles, lies in having large and accurate data sets and an efficient way to analyze them. Sourcing with Big Data.

How POS Data Improves Supply Chain!

Supply Chain Game Changer

POS Data article and permission to publish here provided by Aniko A. POS data improve supply chain management by providing a free flow of communication at all levels during the production of products – from manufacturers to end-users. How is POS Data Important?

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2020 The Year To Address The Elephant in Every Room – Data

ivalua

North Carolina State Poole College of Management recently produced this 28 page report entitled “ 2019 Supply Chain Data Quality and Governance Study ”. The report contains some great illustrations of the current state of Data governance across the organizations that were surveyed, with a specific focus on the supply chain. In this blog, I have attempted to extrapolate some of the main points shared by those who are winning, or at least, not losing the war on bad data.

Data 100

Strategic sourcing and ‘big data’

ivalua

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. Big data is about synthesizing and making sense of information — better and quicker than your competition. Within the manufacturing industry, data can now be gathered quickly in amounts that were unfathomable a generation ago. In fact, the products you make now can actually feed you critical data about usage and performance.

How Sourcing has Reemerged in a Covid-19 World

Jaggaer

For the first three months after Covid-19 hit, virtually every sourcing project , in every sector , was put on hold while companies tried to assess the situation and how best to deal with the epidemic. Diversify Your Sourcing Needs. COVID-19 Sourcing

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Sustainability is created at the source of our products, services, and consumption. Sustainability is created from Responsible Sourcing. How can you make Responsible Sourcing a Reality? If you can excite the people around you about sourcing responsibly, chances are you’ll be able to formulate a network of internal champions. in this case, responsible sourcing. Source Smarter. Source: Purina. Source: Nestlé. Here’s the data….

Strategic sourcing enters a new age. Are you keeping up? (Part 1)

ivalua

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions. Done well, strategic sourcing creates measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.

Syndicated Data for CPGs

SupplyPike

Learn about: What syndicated data is How it is compiled and used The difference between brick-and-mortar data and e-commerce data. Syndicated data can provide companies with this insight. Besides providing details on a product’s performance, syndicated data comprises data on assessments, sales, and consumer buying behavior patterns. Syndicated data is compiled by gathering point-of-sales (POS) data, panel data, and product data.

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Master Data Management: the value of one source of truth (vs. multiple sources)

HICX Solutions

To understand what is meant by describing a Master Data Management (MDM) solution as the single source of truth, it’s probably easier to start by looking at the multiple sources of truth that many businesses currently try (and struggle) to manage – namely Supply Chain Management (SCM), Enterprise Resource Planning ( ERP ) and Customer Relationship Management (CRM). Multiple sources of truth creates a lack of clarity. Moving towards Data Nirvana.

Big Data Analytics: A Key to a Successful Supply Chain in the Next 5 Years?

Cerasis

Big data utilization is the wave of the future for all aspects of business including supply chain management. The problem is that not every company has the resources to begin the process of big data management and have yet to see the extent of benefits it can provide to analyze and use such data management. There are several direct and indirect benefits to using big data analytics for your supply chain. Immediate Benefits of Big Data Analytics.

Sourcing – What You Need To Know About Coronavirus Supply Chain Disruption

Gravity Supply Chain

Sourcing: Mitigate risk during periods of supply chain disruption, such as those caused by the Coronavirus outbreak, by using digital technology. . The post Sourcing – What You Need To Know About Coronavirus Supply Chain Disruption appeared first on Gravity Supply Chain.

Improving Supply Chain Collaboration: Connecting Data

Kinaxis

Making informed decisions fast comes down to collaboration – how effectively the data, processes and people who oversee the supply chain can connect, communicate and interact with one another. But, for many organizations, there’s a distinct disconnect between data, processes and people that is preventing collaboration. The book looks at how companies can foster ongoing supply chain collaboration by eliminating the disconnects between data, processes and people.

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Information Overload: Is Too Much Data Crippling Your Supply Chain?

Kinaxis

That’s the question many supply chain practitioners are asking themselves in this world of big data, where a flood of new information is rapidly becoming readily available. But there’s this concept of data paralysis—where you have so much data you don’t know what to do with it all—and it could actually be crippling your supply chain. It’s not about how much data you have, but the quality of that data. Is there a centralized, harmonized, data hub?

Data 159

The cost of bad data: Hidden costs

HICX Solutions

This is the second in our series of articles on ‘What is bad supplier data costing you?’ In our previous article , we looked at some real world examples of how poor supplier data can lead to bad or inconsistent decision making. The cost of bad data is far higher than you would imagine.

Data 52

The cost of bad data: Hidden costs

HICX Solutions

This is the second in our series of articles on ‘What is bad supplier data costing you?’ In our previous article , we looked at some real world examples of how poor supplier data can lead to bad or inconsistent decision making. The cost of bad data is far higher than you would imagine.

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Conquering the Explosion of Supply Chain Planning Data

Logility

Companies across all industries and sizes struggle to make sense of and value from the available mountains of data. Structured and unstructured data including that from social media, Internet of Things (IoT) and Blockchain sources continue to stream in but much is left untouched. However, to capture these benefits requires the right people, process and technology capabilities to extract the insights within the data. Exponential Growth in Supply Chain Data.

Big Data in Logistics

Talking Logistics

There are many buzzwords in the supply chain and logistics industry today, and perhaps there’s none bigger than “Big Data.” Everybody talks about it, but what does Big Data really mean? When it comes to leveraging Big Data effectively in your organization, where do you begin? What is Big Data? Like many buzzwords, Big Data means different things to different people. Big Data is not a Technology. This is true with Big Data too.

Using Data to Improve Supply Chain Operations

Material Handling and Logistics

Learn how to organize your data operations in alignment with supply chain strategy. Complex supply chains generate more data, which companies can use to drive greater efficiency or engage in innovation that disrupts an entire industry—think Amazon. The prospect of using data to operate more efficiently and/or innovate is behind the impetus toward digital transformation that leaders across virtually every industry sector now pursue. More data is coming in than ever before.

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Vizion’s Quality Data Enables Smarter Container Tracking

Gravity Supply Chain

Gravity partners with Vizion to help businesses make data-driven decisions, increase shipping reliability, reduce risks, and supply chain disruptions.