Each company strives to improve its supply chain to get the most value and benefit at the lowest cost. That is the main task of logistics and supply chain management. So that your optimization is based not just on guesswork but on facts and trends that take place in your company, it is worth trusting supply chain analytics.
Supply Chain Analytics Capabilities
Supply chain analytics is a tool that helps you collect and analyze all the data about your deliveries: information about your fleet, orders, logistics, and all costs. Moreover, all this information is processed and conveniently presented to you to see the strengths and weaknesses in your supply chain management and logistics.
Predictive Analytics VS Supply Chain BI Tools
In supply chain management, everyone is used to BI tools, which are sufficient for collecting information in a unified format and analyzing this information. They can answer some specific questions in the present, for example, prepare a financial report, but more global questions, such as "what trends have been observed there in the past?", "Why are other processes taking place in the present?" "What are the trends for the future?" remain unanswered.
Predictive analytics and an efficient logistics management program can help with these issues. Its functionality and capabilities are much broader than those of BI tools and therefore answer many critical business questions.
Why Do You Need Better Supply Chain Management Analytics?
Recently, supply chains have become even more complicated and ramified, making supply chain logistics more complex and challenging to manage. In addition, users expect the highest quality service: fast delivery, cargo tracking, the timing of delivery, and so on. To ensure all this, companies need to improve their processes as much as possible, and for this, spreadsheets are no longer suitable. More and more companies are turning to supply chain analytics and are feeling satisfied: they are improving their processes, improving their service, and making more and more profits.
Benefits From Supply Chain Analytics
By using analytics software to optimize your supply chain, you will directly or discursively reap the following benefits:
- optimization of delivery routes;
- reduction of expenses and delivery costs;
- more optimal use of the vehicle fleet;
- rational distribution of the load on drivers;
- optimized planning of shipments;
- reduction of delivery time;
- optimization of the work of warehouses;
- more productive use of resources;
- increasing customer satisfaction;
- growth of your company's profits.
Suppose you have not yet made a single attempt to optimize your supply chain or have made them but not successfully. In that case, it is time to implement supply chain analytics and make your business productive and profitable.