Advanced Analytics

Service Description

The goal of the digital supply chain is to fully integrate and make visible every aspect of the movement of goods. The key to this critical element of Industry 4.0 is big data analytics. Already, companies have the tools to describe much of the current state of their supply chains — where the goods are, where the demand for specific items is currently coming from, and when items are likely to be delivered. And companies are learning to predict critical elements of the chain. Demand through the chain can be better anticipated thanks to more sophisticated signals from the market, which translates to demand for production capacity, storage and logistics needs, and changes in raw materials requirements. The next stage in the development of supply chain analytics will be the most important: the ability to prescribe how the supply chain should operate. The goal isn’t simply to optimise demand planning; or the supply chain’s distribution facilities, routes, and mobile assets; or the management of inventory and spare parts. Instead, the key lies in the ability to optimise for any number of factors across the entire chain, depending on circumstances, and then be able to actively modify the chain accordingly. Prescriptive analytics systems provide decision support to supply chain managers and can even act autonomously on simple decisions. To improve the quality and efficiency of such decisions, companies will be able to include external information such as economic indicators and employ self-learning algorithms to aid in automating the decision-making process.

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