Question

Discuss three ways in which supply chain analytics is affecting supply chain management.

Answer 1

Supply Chain Analytics

Supply chain analytics is an essential part of supply chain management. This business can easily predict and make changes in their supply chain system according to the situation and market demand.

Now let us discuss the ways through which supply chain analytics is affecting supply chain management.

• Supply chain analytics predict the future demand of the products and also helps the supply chain management to take necessary actions that need to be made in order to reduce the wastage of the product and its transportation cost.
• Supply chain analytics helps the supply chain management to become more and more smart and responsive towards the market standing and increase and decrease of the demand.
• Supply chain analytics makes the supply chain management more effective and efficient as on the basis of data supply chain management can make appropriate process and strategies which will improve the quality and delivering capability to its customers.
• Supply chain analytics can easily predict the future result of the supply on the basis of current records and helps the supply chain management system to improve those errors so that they will not handle such issues in the near future.