article thumbnail

Supply Chain Predictive Analytics: Benefits, Use Cases and Growth Potentials

ThroughPut

Thanks to the more advanced forms of supply chain analytics like predictive analytics, supply chains are proactively looking into the future and prepping for “what is to come” rather than only ruminating over “what already happened.” What Is Predictive Analytics for Supply Chain?

article thumbnail

Prescriptive Analytics for Supply Chain Optimization: 6 Powerful Use Cases 

ThroughPut

If there’s any piece of technology or analytics that can help with the most advanced data-driven decision-making in the supply chain right now, that’s prescriptive analytics. It is the most promising form of analytics in the market currently. What Is Prescriptive Analytics in Supply Chain? How should the supplier perform?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Strategy. Strategy. Wherefore Art Thou Strategy?

Supply Chain Shaman

The use of descriptive analytics along with agile planning techniques (what-if analysis, discrete event simulation, and network design) helped. Analytics investments are essential. We find that companies with an analytics center of excellence drove progress faster than those with a supply chain center of excellence. Responsive.

article thumbnail

Lora Cecere on Supply Chain Metrics that Matter

AIMMS

Interview with Lora Cecere, Founder and CEO of Supply Chain Insights and Author of Supply Chain Metrics that Matter ( published December 2014 ). Metrics that Matter became a three year research project. I realized that many organizations are very confused about metrics. So I started this book as a summary of this research.

Metrics 120
article thumbnail

No Time Like the Present

Supply Chain Shaman

On this tour, I heard Jeff Ma, a former member of the MIT blackjack team, speak on the use of analytics to make better decisions in “beating the house.” The outcomes are less predictable or clear. The larger the organization, the more tension with conflicting functional metrics making decisions more difficult. Closed Loop.

article thumbnail

Optimize Demand Planning with AI: Plan Product Mix & Sales Forecasts Effectively

ThroughPut

Food & Beverage giants like Kellog’s reported on the state of breakdown in supply chain management. Delayed delivery of performance metrics and consumer behavior sets off a chain reaction of excess, wastage, and loss of profits. The unavailability of raw materials and changing consumer patterns heavily impacted demand.

article thumbnail

Top 6 Retail Trends & Supply Chain Planning Challenges in 2023

Logistics Viewpoints

And future supply chains will rely on effective data collection, advanced analytics, automation, and control towers augmented with AI/ML technology. Advanced machine learning (ML) technology is needed to reveal hidden patterns and correlations, facilitating accurate predictions and informed decisions. billion a year.