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

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. Descriptive analytics. 2] They are: 1.

Insiders

Sign Up for our Newsletter

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

article thumbnail

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. ”[2]. .” ”[2].

article thumbnail

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.

article thumbnail

The Changing Landscape of Retail Supply Chains

Enterra Insights

The past few years of turmoil in the retail sector have challenged many professionals. The so-called “retail apocalypse” was deepened by the pandemic, then came inventory overload and inflation. ”[3] Ihnatchyck suggests five other ways AI can benefit retail supply chains. .”[3]

article thumbnail

Top 6 Retail Trends & Supply Chain Planning Challenges in 2023

Logistics Viewpoints

Retailers know firsthand how quickly the market can change. Continuing Disruptions in Transportation and Sourcing Materials After the pandemic, retailers are faced with new challenges and disruptions due to global conflicts, trade restrictions, and now recessions. The retailers feel the impacts of the recession fast and deeply.

article thumbnail

Artificial Intelligence in the Retail Sector

Enterra Insights

Inflation is starting to impact the retail sector in significant ways. Some experts believe artificial intelligence (AI) capabilities will help retailers find their way through these volatile times. ”[1] According to Kestenbaum, some retailers don’t understand AI’s importance to their success.

Retail 182