What is Predictive Analytics and How is it Used in Supply Chain Operations?


You may be familiar with the term predictive analytics – but have you ever stopped to ask yourself what it really means for your supply chain? Analytics help companies streamline process efficiencies and make sure important trends aren’t overlooked.

Artificial Intelligence, Machine Learning, and Predictive Analytics in the Supply Chain


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4 Big Benefits for the Use & Implementation of Predictive Analytics In Manufacturing


The predictive analytics of the past are becoming more apt and intellectual, powering a new age in manufacturing. Additionally, major manufacturers are working to prioritize predictive analytics and use them to improve production. Supply chain models are evolving.

Final Mile Delivery: The Role of TMS and Predictive Analytics

Talking Logistics

How can technology, specifically transportation management systems and predictive analytics, help shippers and third-party logistics providers (3PLs) excel in this area? Karen says, “Predictive analytics can help shippers and transportation companies to analyze past trends, including delivery times, quality and costs, to estimate future needs, to evaluate which couriers to use, and to reroute or change delivery times for better efficiency and service.”.

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. Petro goes on to predict companies failing to grasp the future risk ending up in history’s dustbin. ” Types of analytics. Predictive analytics — the type of analytics to which Petro refers — are one of four types of analytics now available to enterprises. Descriptive analytics.

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. She writes, “Ask someone to draw ‘predictive intelligence’ as if they were playing a game of Pictionary.

Four Ways a TMS Solution Leverages Predictive Analytics

Supply Chain Collaborator

The shrewd operators are leveraging these data to support predictive analyses with the goal of achieving more accurate planning and execution of logistics as product moves through their supply chain. Here are four ways smart TMS users can harness the power of their data for predictive analytics. Predictive capabilities help shippers protect access to necessary support during critical seasonal times. Blog Collaborator Blog analytics big data data predictive analytics

What Is Predictive Analytics and Who Is Winning With It

River Logic

Prescriptive Analytics Predictive Modeling and Analytics Advanced Analytics predictive analytics Business Analytics

Predictive Analytics: Promising or Scary?

Enterra Insights

The post Predictive Analytics: Promising or Scary? “Big Data is both an over-hyped buzzword and a real trend,” writes Gregory Piatetsky (@kdnuggets), President of KDnuggets, “reflecting the … Continued. appeared first on Enterra Solutions.

How VR, 3D Printing & Predictive Analytics in the IOT are Currently Powering the Manufacturing Industry


So, let’s take a look at how our predictions for the first four manufacturing technology trends (Predictive analytics, 3D Printing, and VR) to watch for in 2016 stacked up. Predictive Analytics Became Commonplace to Manufacturing. The use of predictive analytics has the potential to dramatically reduce expenses in the manufacturing sector, particularly with respect to proactive machine maintenance.

Editor’s Pick: 5 Real-Time Visibility Features Required for Predictive Analytics

Talking Logistics

So, too, has real-time visibility with predictive analytics crossed the threshold from nice-to-have to need-to-have. Thanks to the Amazon effect, B2B customers crave the insights predictive analytics offers as much as end-consumers expecting a shipment do. Supply chain leaders worldwide struggle to verify that a visibility vendor can achieve predictive analytics.

The Power of Predictive Analytics


The Power of Predictive Analytics. The use of predictive analytics is rising. In a recent Supply & Demand Chain Executive webinar , we took a deeper dive on how predictive analytics such as demand sensing can help control volatility.

Predictive Analytics: Businesses’ Crystal Ball

Enterra Insights

“What if you could predict what products or services your customers wanted before they did,” asks Dr. James Canton (@futureguru), … Continued. The post Predictive Analytics: Businesses’ Crystal Ball appeared first on Enterra Solutions. Artificial Intelligence Big Data Business Cognitive Computing Supply Chain Technology Enterra Solutions Stephen DeAngelis

Predictive Analytics in Supply Chain Management


Our Business Development Director from APAC, James Hargraves , was one of the speakers at the summit and presented his vision on “Predictive Analytics in Supply Chain Management.” The post Predictive Analytics in Supply Chain Management appeared first on Adjuno.

The Power of Predictive Analytics


The Power of Predictive Analytics. According to KPMG’s 2016 Global Consumer Executive Top of Mind Survey , the use of predictive analytics will double by 2018, with 46% of companies planning to use advanced analytics to sense and shape demand within the next two years. In a recent Supply & Demand Chain Executive webinar , we took a deeper dive on how predictive analytics such as demand sensing can help control volatility.

Prescriptive Analytics: 22 Things the Experts Are Saying About Analytics’ Rising Star

River Logic

Prescriptive Analytics Supply Chain Optimization Integrated Business Planning predictive analytics

[Webinar] Using Predictive Analytics to Drive Sales and Delight Customers


In today’s data-driven world, we’ve become accustomed to companies predicting what we need even before we think we need them. Similarly, Netflix can predict the type of movies that you might enjoy based on your previous TV watching habits. Companies such as Netflix and Amazon take advantage of predictive and prescriptive analytics to increase customer engagement and sales. Events Predictive analytics webinar

The Future of the Digital Supply Chain: IoT, Big Data, Blockchain, Predictive Analytics, and More


We must embrace the possibilities of Big Data, the Internet of things, blockchain technology, predictive analytics, and the growing unrest that these things bring to the industry. The future of the digital supply chain is entirely data-driven and analytics-powered, reports Accenture.

ArcelorMittal Optimizes Supply Chain Logistics with Predictive Analytics

Logistics Viewpoints

Michel Plourde, Systems Director at ArcelorMittal Canada, recently briefed ARC Advisory Group about the supply chain challenges surrounding the company’s decision in 2012 to expand its iron ore pellet production in Canada. These challenges largely involved eliminating logistics bottlenecks created by an inability to adapt quickly to disruptions and changes to plans.

Predictive Analytics & Omnichannel Supply Chain Management

Supply Chain 24/7

Predictive analytics with omnichannel supply chain management make up one of the most in-demand topics in modern supply chain management, but it only functions when a thorough, integrated process for data collection, identification, and analysis exists

Mitigate Seasonality and Other Logistics Disruptions with TMS Supporting Predictive Analytics

Supply Chain Collaborator

More importantly, how does a shipper synthesize the seemingly endless stream of conflicting market analysis into proactive plans that avoid simple, reactive responses to the often confusing and counter-intuitive moves in the market? . – Realize the goal of cutting through the static using analytics as a “knife” in your TMS. You may have some questions about how to realize the goal of cutting through the static using analytics as a “knife”.

Artificial Intelligence & Predictive Analytics – Buzzwords or Business Benefits?


In front of the bustling audience, our product director, Andy Hawkins, presented his vision on ‘AI, Machine Learning & Predictive Analysis: Buzzwords or business benefit?’, The post Artificial Intelligence & Predictive Analytics – Buzzwords or Business Benefits?

How Companies Can Leverage Big Data and Predictive Analytics to Optimize the Supply Chain

Supply Chain Nation

3PL Logistics Supply Chain big data predictive analytics third-party logisticsIt takes a lot of data to make a good decision. And for decision making within the supply chain, big data can provide insights for companies and enable them to make better decisions. Big data is defined as extremely large datasets, structured and unstructured, that reveal patterns, trends and correlations.

Tapping into Big Data to Enable Actionable Supply Chain Visibility and Predictive Analytics

Supply Chain Nation

And while unplanned disruptions will always occur, the emergence of newer technologies provides the ability to predict potential future disruptions and act on them accordingly, moving to a more proactive view of visibility. TransVoyant is at the forefront of the predictive analytics space. Their proprietary machine learning algorithms analyze these massive big data streams in real-time to produce live and predictive insights that help companies achieve competitive advantage.

Final Mile Delivery: How Predictive Analytics Can Drive Improvement

Talking Logistics

Can you give some examples of how predictive analytics can drive improvement in final mile delivery? Podcast version (click to play): The post Final Mile Delivery: How Predictive Analytics Can Drive Improvement appeared first on Talking Logistics with Adrian Gonzalez.

Connect Big Data with Predictive Analytics for Increased Visibility and Control Over Global Supply Chains

Supply Chain Network

Artificial Intelligence (AI) and Predictive Analytics are also now increasingly being applied in order to make sense of, and best utilize all of these data sources, which are now clearly beyond the capability of human operators to manipulate, analyze, determine insights and then take action from in any kind of a timely manner. When it comes to examples of Predictive Analytics firms focused on supply chains Elementum and ClearMetal are just a couple that come to mind.

The Limitations of Predictive Analytics Tools and Why Execs Should Care

River Logic

Most people are familiar with predictive analytics. In short, predictive is there to answer the question “what is the likelihood that x, y, or z will happen based on the data I have?”. While this is a useful — and in many cases essential — question to answer, the main limitation of predictive analytics isn’t the analytics itself…It’s how a business responds when the “likelihood” of a good/bad event occurring reaches a certain threshold that requires action.

Presenting Predictive Analytics and Machine Learning Use Cases in the Planning and Decision Support Process.

River Logic

Are you up to date with how predictive analytics and machine learning could help your business? Advanced Analytics predictive analytics Machine Learning

Predictions on Predictive Analytics in Procurement


What is predictive analytics? 5 predictions on the impact that predictive analytics will have on the future of procurement. What procurement leaders should be thinking about as they consider building greater data and analytic capabilities. I was recently interviewed by Phillip Ideson of the “Art of Procurement” webcast. I met Phillip at the ISM Global Procurement Tech Summit about a month ago, and he invited me to join the show.

How Predictive Analytics and the Gig Economy Can Bridge the Supply Chain Skills Gap

Supply Chain Brain

The automotive manufacturing supply chain has become almost too massive to manage, leaving manufacturers and suppliers with the challenge of finding qualified workers with the skills to identify and prevent quality risks

What is the difference between forecasting and predictive analytics anyway?

Blue Ridge

First, let's look at the origin of the words: forecast is a Germanic word, whereas predict is a Latin word. Predicting is Latin. Predictive Analytics takes a similar, more humanistic approach. Predict the Actor, not the Widget. View From The Ridge: 69.

10 Keywords Logistics Professionals Should Keep an Eye on in 2020


Amazon Effect Autonomous Vehicles Blog Digital Supply Chain TMS customer experience kuebix tms Predictive Analytics sustainability transportation management system Virtual RealityThe start of a new year means that it’s time to realign priorities and set new goals.

Predictive analytics in procurement means using whatever data is available


Predictive analytics is still relatively new in procurement, but it’s increasingly important, particularly in organizations that have already been through the cycle of spend analytics, supplier leveraging, segmentation, and consolidation. Prediction requires a deep understanding of the technical and commercial attributes of the supply chain ecosystem, as well as advanced statistical and modeling capabilities.

Redefining Logistics Management in a Digital World

Talking Logistics

Collecting and analyzing your organization’s historical data can be crucial for improving and streamlining processes, but applying predictive models to generate forward-looking insights can drive even further improvements.

The Data Needed to Transform Supply Chains

Talking Logistics

The Hackett Group provides a useful visual for describing the maturity stages that supply chain is moving through as the industry strives to leverage data and advanced analytics. Supply Chain Analytics Maturity Model (Source: Hackett Group). Descriptive Analytics (What happened?).

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Applying the Laws of Forecasting to Predictive Analytics


We met at the United Club in Chicago, as he was on his way back from a visit with Honda, and met to discuss the upcoming study I will be working on with him on procurement analytics for the Center for Advanced Purchasing Studies later this summer. We had a chance to catch up on a great number of things, but one that sticks in my mind is the discussion on predictive analytics and forecasting.

Visibility in Transportation Management Leads to Supply Chain Excellence

Talking Logistics

Here are some tips on how to enable end-to-end visibility across your enterprise: Sense and respond are critical processes for supply chain visibility and can only be achieved through a collaborative network that is coupled with robust business process orchestration and advanced analytics.