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.

Predictions on Predictive Analytics in Procurement


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 the NC State Supply Chain curriculum has evolved to reflect the changing nature of the skills necessary to be successful in procurement. What is predictive analytics?

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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.

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?).

Data 173

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.

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.

10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.


However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. Many suppliers and manufacturers may have existing, internal analytics tools, but using these tools for benchmarking processes may be ill-fated. Cluster and Consolidate Shipments to Create More Predictable Demand for Suppliers and Carriers. Take Advantage of Cloud-Based Analytics for Better Warehouse Management and Forecasting.

Real-time Capacity Matching: Making Brokers More Efficient

Talking Logistics

Visibility Enables Faster Procure-to-Pay and Order-to-Cash processes : for example, you can leverage Electronic Proof of Delivery (ePOD) and geofencing to initiate invoicing and payment process. . From a technology standpoint, you also need predictive analytics capabilities to intelligently match forward-looking capacity with available loads, and a framework that respects the confidentiality and data-sharing requirements of the network participants.

COVID-19 Procurement Response: Your Questions Answered


JAGGAER’s Amenallah Reghimi and Mic h ael Roesch recently partnered with Philip Ideson , founder and managing directo r at Art of Procurement , to bring procurement professionals a presentation on response tactics for the current global crisis.

Digitalization in Procurement: Your Questions Answered


Last week JAGGAER hosted a webinar reviewing the findings of our recently released 2019 Digital Procurement Survey Report. We reviewed the key takeaways and provided recommendations for how procurement professionals can begin to take advantage of next-generation technologies. 35% of respondents said it was their main challenge in modernizing their procurement process. Digital transformation in procurement is not just automation. Procurement Resources

Supply Chain Optimization: What does it mean in 2019 and beyond?

River Logic

The value of predictive analytics allows companies to view the history of a seasonal product’s raw materials, for example, and predict how procurement needs to source the upcoming season’s inventory.

What’s Next for Digital Procurement?


Our survey of the global procurement community and the subsequent report, Digital Transformation in Procurement: How Close Are We? revealed heightened awareness of digital technologies and their potential to transform the procurement function, but little progress over the past two years. For this to happen, procurement professionals must make a stronger case to the organization’s leadership to demonstrate the value it can deliver.

Procurement Must Transition into an R&D Based Organization to Exploit Big Data!


In that session, Dan Carrell from IBM shared a number of key perspectives that is driving IBM to diversify into the world of analytics. Reason and provide confidence levels around the reliability of predictions. But they will also learn “what works”, and understand how to employ many of the analytical tools in the context of their own organizational culture, mindset, and desired outcomes.

“Procurement at a Crossroads”: Spot On and Makes You Think


I had a chance to review the new book by Jim Hansen and Kelly Barner, “ Procurement at a Crossroads “, which explores the many changes that the profession is facing, and challenges individuals to do things differently. (I The authors do a great job of exploring what change in procurement consists of, and how it is likely to unfold in the next five years. The authors also go through and explore a number of other procurement issues that are often debated.

How Close Are We to Digital Transformation in Procurement?


Key Findings from the JAGGAER 2019 Digital Procurement Survey. Despite all the talk of digital transformation in procurement, the JAGGAER 2019 Digital Procurement Report reveals little change since 2017. The report identifies the lack of budget and requisite IT skills, and lack of progress with data integration as well as lack of digital knowledge among procurement professionals themselves, as some of the most important obstacles to more rapid progress.

Zooming in on Data Integration in Procurement


Procurement is central to the profitability of organizations in all industry sectors. Given the value that procurement delivers, you would think that the function is ripe for digital transformation. Our 2019 Digital Procurement Survey, Di gital Transformation in Procurement: How Close Are We? In this installment, we focus specifically on data integration in procurement – and the lack of it. Digitization of procurement data is only the first step.

Manufacturing success: how procurement can leverage Industry 4.0 to manage MRO spend


There are innovative ways for manufacturing and procurement teams to gain visibility into MRO spend and collaborate with each other and their supplier base to better predict service needs. They can also help procurement forecast expected MRO costs. Procurement

Why is Supply Chain Such a Great Career Path?

Supply Chain Game Changer

Some people want physical activity, some want something more intellectual or analytical, and still others want some combination of both. supplychainmanagement #humanresources #procurement #logistics #jobs. Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer.

Hackett CPO Agenda: What’s Top of Mind in Procurement?


in 2018) and expectations of cost and efficiency savings growing faster than ever, that is the reality faced by procurement professionals. The Hackett Group’s CPO Agenda is always eagerly awaited, and this year’s edition does not disappoint, offering clear advice based on a detailed survey (the Hackett Group’s Key Issues Study) of the procurement community. Improve analytical capabilities. Relationships between procurement and its suppliers must become much more strategic. ?Procurement

Why Real-Time Visibility Should be Core to Your Supply Chain Strategy

CH Robinson Transportfolio

As technology, predictive analytics, and artificial intelligence rapidly advance, we are leveraging our global network of 1,000 data scientists, engineers, and developers to build solutions that increase our customers’ efficiency, visibility, and reliability.

Supply Chain Predictions!

Supply Chain Game Changer

Check out Procurement Experiences, Trends and the Future! Advanced Analytics will support real-time decision making based on data captured across the supply chain. With analytics, businesses can more effectively predict and fill demand. The post Supply Chain Predictions!

Spend Analytics vs Contract Management Systems: Both Please!

Supply Chain View from the Field

I have been interviewing a number of CPO’s on the subject of procurement analytics and predictive analytics. In this discussion, an issue that frequently comes up is the debate over spend analytics and contract management systems. For organizations in the early stages of procurement transformation, which ones are more critical. “I think obviously you need to figure out what your roadmap is for spend analytics and contract management.

Visibility: If Only I Could See

Supply Chain Shaman

The IT taxonomy for visibility is supply chain analytics. As you implement supply chain analytics and use control theory with well-defined reference data with clear bands for control, process improvement ensues. The team was seeking analytics to monitor process compliance.

Want to Improve Supply Chain Performance and Profitability?


This silo mentality, along with the physical inability to distribute information in real-time, can make it difficult to determine if and how operational decisions will affect an organization, starting with sourcing and procurement and ending with reverse logistics.

What should you look for in AI solutions for procurement?


A Gartner report published in September 2018, entitled “The Impact of Artificial Intelligence on Procurement Software Applications” set out the reasons why many procurement leaders are hesitant about investing in artificial intelligence (AI) solutions. And yet, procurement professionals are yet to be convinced. Procurement people, we know, are especially hard-headed when it comes to new investment, and many are struggling to cope with stagnant or near-stagnant budgets.

Want to Improve Supply Chain Performance and Profitability?


This silo mentality, along with the physical inability to distribute information in real-time, can make it difficult to determine if and how operational decisions will affect an organization, starting with sourcing and procurement and ending with reverse logistics.

AI and All That – Ivalua Now Looks to the Future


Procurement leaders are being given more and more priorities, he said, but there are obstacles in their way that stop them delivering strategic decision making and real value. So, is AI the light at the end of the tunnel for overworked procurement functions?

Will Your Supply Chain Sink or Swim in the Digital Age?


That means materials sourcing, procurement, production, and shipping lead times are even shorter. Technology research firm Gartner, Inc.

Supply Chain Priorities: Seven Things That Matter Most


Less mature companies focus IT investments on manufacturing, procurement and workforce management. More mature companies are targeting analytics and performance management, big data and predictive analytics , mobility technologies, and visibility and event management.

Improve Forecast Quality and Reliability with Value-add Forecasting (Part 1)


procurement, operations, inventory, sales and marketing). Value-add forecasting helps detect the useful length of your ‘prediction window’. The promise of using statistical algorithms, forecasting and predictive analytics is coming to fruition.

Imagining the Supply Chain of the Future!

Supply Chain Game Changer

Artificial Intelligence, Predictive Analytics, and Voice Activated Technology are key enablers that will allow for Intellectual Automation. Planning, Procurement, Manufacturing, Logistics, Inventory Management and more are most often activities assigned to some internal organization.

Ultimate guide to technologies that are transforming supply chains

6 River Systems

Thanks to AI, companies can automate functions such as demand forecasting, capacity and production planning and predictive maintenance. DHL developed a tool based on machine learning that analyzes 58 parameters of technical data to predict air transit time delays up to a week in advance.

Want To Predict Future Healthcare Demand? Analyze These 3 Trends


By 2020, the market for analytics in the healthcare industry is expected to reach nearly $20 billion , with predictive analytics alone accounting for $2.3 The problem is that it’s a completely new virus: there is no historical data to base predictions on.

If you can measure it then you can manage it


Claritum Article - Procurement Blog. An approach to Tail Spend Analytics. Benefits of better Analytics. If you can measure it then you can manage it” This statement is so true in the procurement field. Procurement needs to have real time data on the entire supply chain.

What Is the Impact of Big Data in the Transportation & Supply Chain Industries?


While shipping routes may play a major role in overall efficiency, big data in the transportation industry can impact overall operations, including warehousing , production and procurement of supplies. Predictive Operations. . This is predictive operations or predictive analytics.