Top 5 Examples of How Supply Chain is Using Analytics to Solve Its Problems
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Top 5 Examples of How Supply Chain is Using Analytics to Solve Its Problems

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Supply Chain is a tricky business. One missing entity or a lack of synchronization can break the entire chain and mean millions in losses for a company. However, the use of analytics in this domain is resolving several pain points in supply chain management at the strategic, operational, and tactical levels. The analytics reports help businesses to scale up through performance monitoring and enhancement. According to Capgemini Analytics, “Supply Chain Analytics brings data-driven intelligence to your business, reducing the overall cost to serve and improving service levels.” For supply chain professionals, it can only mean one thing – to upskill to be able to use advanced analytics to improve operational efficiency and make data-driven decisions. Here are 5 supply chain analytics case studies about the use of analytics in the supply chain that will motivate professionals in this domain to upskill:

  1. Identify the most efficient shipping carriers through advanced analytics – One of the issues that a Fortune 100 CPG company faced was assessing each carrier and choosing the right carrier for shipment across the globe. Since there were various metrics available, the challenge was ranking carrier performance and choosing the right one for shipping. Understanding the carrier selection framework, the solution by Fractal Analysis followed a step-wise approach by identifying correlated attributes, ranking of carriers, and assessing alternate carriers via what-if analysis. Read the complete case study here.pgp business analytics (pgp-babi) great learning
  2. Pierian Digital delivered interface, forecasting, and visibility solution to oil & gas major – A Global EPC Service Provider was facing issues without a common user interface across applications to provide end-to-end visibility, visibility of global supply chain and logistics processes, and forecasting for cost and schedule. Pierian Digital’s solution provided Proactive Supply Chain Performance Management Analytics insights positively impacting the top and bottom-line business growth specifically through improvements across the whole supply chain. Read the full details here.
  3. Gartner Analyzes Market for Supply Chain Management Solution – A Fortune 500 company knew its innovative solution for supply chain management had huge potential, however, management needed the validation of the market, the competitive landscape, and opportunities to secure funding. A Gartner engagement answered all their questions by conducting a full product assessment, sizing the market, and analysing competitive alternatives. Once they were able to use these supply chain advanced analytics report, they could market their solution successfully. Read more.
  4. Improved forecasting and inventory planning for a large retailer – Mu Sigma helped one of UK’s leading fashion retailer to build a customised demand forecasting and inventory planning solution for its online channel involving apparel and home furnishing products. They developed an analytical process to forecast demand and estimate launch quantities for new products during seasonal sales leading to an increase in product availability by 8%. Read the case study here.
  5. Use predictive modelling to control critical process parameters – A Fortune 100 fertiliser manufacturing company produces fertilisers that must meet quality criteria for key natural elements like potassium, nitrogen, and phosphorus to be within a defined range of specification. The results of thorough data understanding and brainstorming determined that for water soluble fertilizers, in 98.4% of instances the prediction accuracy was greater than 95%. For other nutrient products, in 99.9% of instances, the prediction accuracy was greater than 95%. The client saw multi-million-dollar savings through these tools in fine-tuning the manufacturing process. Read fractal analytics’ 4-step approach to know the full solution.

Click here to explore a career in Business Analytics.

Sources: Mu-Sigma, Fractal Analysis, NASSCOM, Gartner.

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