You’re committed to rolling out an analytics platform across your supply chain and you have tons of data. So how do you turn that data into actionable information? There is a continuum in terms of the presentation of data that allows for continuous sophistication in understanding and interpreting data. There are many ways to view data, but those that are particularly useful …
How Can Manufacturers Manage Disruption and Improve Productivity?
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4 Reasons Why Good Design Is Essential for Supply Chain Dashboards
Detective Joe Friday had a way with words. Even if you’ve never seen a Dragnet re-run in your life, or you've never heard of Joe Friday, his catchphrase, "Just the facts, ma'am," is a good motto for running your business. The foundation of supply chain analytics is the desire to let objective, relevant information drive action – in other words, to empower and enlighten …
Bring Precision to your Forecasting with Causal Forecasting
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How Does Machine Learning Improve Supply Chain Performance?
When asking the question, "How does machine learning improve supply chain performance?" it’s important to bear in mind that the proper goal of machine learning is not abdication of human responsibility for decision-making. Rather, it’s improving our individual and collective ability to make faster, better decisions by leveraging increased speed, accuracy and absence of bias. …
Kickstart Your Machine Learning Investment with These 3 Initiatives
Among other aspects of a modern-day business, forecasting has become more complex, with many firms striving to incorporate product, pricing, discounts, channel, and other available data to improve accuracy. This increase in forecasting demand complexity and the associated massive increase in data volume requires a machine learning (ML) forecasting solution. In a nutshell, …
Supply Chain Disruptions Need a New Prescription: Introducing Disruption RX Virtual Supply Chain Summits
A global pandemic was impossible to foresee as COVID-19 swept across our increasingly interconnected world. The challenging landscape, from store and factory closures to wild swings in inventory, has proven to be the ultimate test of strength for supply chain teams everywhere. Supply chain is now a household term. Companies are measured on their ability to meet demand, …
Using Procurement Analytics to Simplify Your Supplier Reconciliation
Ask finance managers to name a necessary evil of their responsibilities and many will cite reconciling goods received against invoices not received (“GR-NI”). The GR-NI issue is time-consuming to manage but not exactly mission critical to finding new business. Because of that it often gets demoted to the lowest of priorities. Not dealing with GR-NI, however, creates …
Supply Chain KPIs You’ll Want Every Morning
A quick scan of the Internet will yield a long list of “the biggest-ever supply chain disasters”. A few of the most infamous are listed below. The common thread? Each of these events was completely devastating to the company concerned. Would access to better supply chain and IT performance information have helped avert or mitigate these failures? Maybe, but what is certainly …
Four Steps to Better Demand Forecasting
Forecasting is an “inexact science” that relies on the data available to you, the math you use, and how you implement the forecast. There are libraries full of algorithms that are relatively easy to implement in software, but the math is only as good as the data it’s applied to. And your forecasting success is fundamentally impacted by your understanding of that data, its …
