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.
According to Supply Chain Digital Magazine, many manufacturers are falling behind with more than two-thirds of them being unable to provide data-driven analytical information to support their business decisions.
A lot has changed. Simulation and modeling software allow organizations to create realistic and verifiable supply chain digital twins of their supply chains. Data mining techniques along with inputs from Internet of Things (IoT) sensors allow them to feed real-time data into models. They can monitor and determine what’s happening
These figures show that efforts at inventory optimization aren’t bearing fruit as retailers grapple with the conflicting demands of omni channel retailing and, more recently, the unpredictability posed by trade wars and other global disruptions.
While most agree that adding a financial aspect enhances S&OP, there’s often a completely different understanding about its importance. So, let’s dig a bit deeper to understand the difference between S&OP and IBP. What Is S&OP? The first problem when trying to develop an understanding of S&OP is that the
