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The past year has seen a multitude of industries around the globe suffering supply chain disruptions, with little sign of that letting up in 2022. To navigate these supply chain issues, organizations are increasingly turning to analytics to gain better insight into their supply chains and operations.
Supply chain analytics draw data from procurement, inventory management, order management, warehouse management and fulfillment, transportation management, and other operations applications to provide the organization with insight into every step of its supply chain. These insights can be used to quick adjustments in the moment but can also be used to support long-term strategic decision-making.
Here are three examples of how organizations are using supply chain analytics effectively today.
Predictive analytics gives UPS insight into its logistics network
On average, UPS delivers roughly 21 million packages on any given day. That number gets far bigger in December. In the past, the shipping multinational has relied on historical data and know-how from expert planners to track package status. Today, it uses the Harmonized Enterprise Analytics Tool (HEAT), a business intelligence platform, to capture and analyze customer data, operational data, and planning data to track the real-time status of every package as it moves across the company’s shipping network.
“HEAT helps us make better decisions...