From Warehouse to Stores, What does Analytics Do to Your Supply Chain?
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Supply chains typically generate massive amounts of data. Relying on spreadsheets, logbooks, paper reports, and other manual data collection processes is becoming increasingly more difficult. Customer expectations, increased competition and pricing pressures, and other challenges can potentially create waste in your supply chain process.
Analytic tools can present trusted data with visualizations to help you make data-driven decisions.
What analytics can do to your supply chain network:
1. Track your products after departing from warehouses
Tracking products as it moves along the distribution layers can help you to analyze path & elapsed time from the moment the product is produced until bought by the end customer. Analytics provides visibility where companies can respond to external events swifter.
2. Monitor product absorption in the market
From product absorption analytics, you can see the sales month by month for every production batch. These data can determine the appropriate time for increasing production before peak season and organize promotion to push sell out.
Sales Business Intelligence (BI) examines sales performance by each metrics: numbers of stores, shop performance, market demand, etc. By using those analytics, you can start to identify the best practices and analyze what types of sales strategies are working for your market.
Supply chain analytics can help you to make more efficient decisions that gain high ROI, accurate planning, achieve leaner supply chain, and identify risk faster.