LONDON--(BUSINESS WIRE)--One of the biggest assets that a company can possess is a strong supply chain. At present, organizations have come a long way in terms of improving supply chain competence and enhancing the speed of operations. But, pricing pressures, global operating systems, and the ever-increasing customer expectations are putting pressure on supply chain operations. This compels organizations to move out of their traditional supply chain implementation systems and change over to techniques that can better accommodate the dynamic market conditions and customer demands.
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According to the analytics experts at Quantzig, “Supply chain analytics assesses supply chain performance and identifies the shortcomings and inefficiencies in supply chain configurations.”
Importance of supply chain analytics
- Accelerate sales: The main focus of any business is to make products/offer services that will ultimately attract customers and result in a sale. To boost returns, organizations need to find whether they own the right inventories, raw materials, and supply chain network. Supply chain analytics helps companies to identify a slow-moving stock that has happened due to wrong predictions and inaccurate estimates. It can also help find instances where there was a possibility to sell more products and to meet the demand that was there but left unmet. Request a demo to know more about our portfolio of analytics solutions.
- Speed-up material movement: When the supply chain moves rapidly, it enables the reduction of inventory levels and frees-up cash. But the catch here is to know how to make it move rapidly. This is where supply chain analytics comes in handy. By using this technique, it becomes easier to find factors such as the influence of order size rules and policies, or stock-keeping rules and policies, and demand inconsistencies. For example, the effect of production batch sizes on finished goods, raw material levels, and work-in-progress. Get in touch to know more about the importance of supply chain analytics.
- Improve standards: It's not just the internal decisions and factors that have an impact on the supply chain, but several external factors as well. Take a look at the case of poor performing suppliers for example. This can influence other supply chain factors such as on-time delivery performance, customer service levels, and inventory holding. Supply chain analytics can help by taking an ERP system’s raw data and alter it into thorough performance metrics - supplier by supplier. With this, organizations can easily find gaps in supplier performance and quickly act to correct it.
- Visit our page, to view the comprehensive list supply chain analytics benefits.
Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.
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View the complete list of the importance of supply chain analytics:
https://www.quantzig.com/blog/supply-chain-analytics-importance
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
