When these events are analyzed, it’s not unusual to discover that companies were caught off guard because of poor supply chain visibility. In some instances, companies didn’t know where suppliers and sub-suppliers were located, while in others they were unaware of critical dependencies in their extended supply chains. These same
In recent years, S&OP has shifted as management has begun redefining the objectives of S&OP to focus on maximizing the value generation for shareholders while appropriately balancing strategic objectives and risk.
But before buying analytics software, it’s best to take a step back and determine what’s right for your organization. There are numerous vendors selling different types of supply chain analytics software, but unless you’re ready for what they offer, you may be wasting your money.
Using this information, supply chain leaders can address supply chain challenges, reduce costs and at the same time improve service levels. Predictive analytics techniques allow organizations to identify patterns and trends hidden in their data to understand market trends, identify demand and establish appropriate pricing strategies.
While the term algorithm implies complexity, this isn’t necessarily the case, as an algorithm is simply a set of rules used to solve a problem.
To illustrate the point, a recent paper from Ventana Research on supply chain planning revealed issues that companies using spreadsheet planning have experienced, including:
