In this article, I describe the use of advanced analytics techniques to supply chain management. The applications are categorized with regard to descriptive, predictive, and prescriptive analytics and along the supply chain operations reference (SCOR) model domains plan, source, make, deliver, and return.
Descriptive analytics programs center on the useage of information from global positioning systems (GPSs), radio frequency identification (RFID) chips, and data-visualization tools to equip managers with real-time information related to amounts and place of products in the supply chain.
Predictive analytics centres on demand forecasting at strategic, tactical, and operational levels, all which drive the planning process in supply chains concerning network design, capacity preparation, production preparation, and inventory management. Finally, prescriptive analytics concentrates on using mathematical optimization and simulation techniques to provide decision-support tools built upon predictive and descriptive analytics models.
Supply Chain Analytics case study solution
PUBLICATION DATE: September 15, 2014 PRODUCT #: BH627-HCB-ENG
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