Supply Chain Analytics
A complex world, with follow-the-sun supply chains, hyper-connected partners and expectation of an exceptionally responsive service has pushed organizations to redefine how they run and measure their Supply Chains. With top line growth plateauing, there is more scope for organizations to increase profitability by optimizing their Supply Chains and Analytics is fast emerging as a key enabler to do so. The use of business analytics in Supply Chain processes has become more prevalent over the years. Organizations want to get insights into their Supply Chains and make data-driven decisions, instead of working on best-guess operations.
How Locus IT Helps
Locus IT's Supply Chain Analytics offering helps organizations optimize their Supply Chains to:
- Monitor and predict vendor risk and performance: With an increased reliance on vendors for success, manufacturers are using internal and external data to continuously measure vendor performance
- Optimize logistics and route operations: Consumer electronics manufacturers want to minimize inventory levels and push availability across a large swathe of markets
- Sense demand patterns: Retailers are using analytical models to ensure that problems like stock-outs and overstocking are avoided
- Match supply chain capabilities: Pharmaceutical & Medical Device manufacturers are using segmentation to match capabilities with the requirements of different products, markets and customers
Our Supply Chain Analytics offerings have enabled global organizations to utilize business analytics to glean information from ever-growing collections of data.
From a Supply Chain perspective, here is how we help:
- Vendor Performance & Risk Assessment: As Supply Chains become more complex, the dependency on external suppliers/vendors becomes extremely critical. Moreover, there are several other external factors and sources of information that can affect the future performance of vendors. We offer a risk model based on external data and ongoing performance to efficiently evaluate and monitor vendor performance to mitigate future risk
- Demand Forecasting: With customers expecting immediate responses irrespective of location or time, you need to meet these needs rapidly, and cost effectively. We use predictive algorithms to better forecast demand based on various internal/external factors and ensure that your Supply Chain is well oiled to cater to these dynamic needs
- Spend Analytics: We leverage machine data analytics to help identify anomalies in direct/indirect spend. This solution uses analytical models on spend data to find anomalies that indicate potential savings, such as contract non-compliance, rate mismatches, duplicate invoices, and incorrect demand specifications
- Inventory Optimization: Our solution aids the monitoring of key indicators like stock churn, inventory costs and obsolescence across the supply chain, which is critical to optimize inventory levels while meeting customer demands and service levels
- Logistics & Routing Analytics: We help you optimize routing of both the components and finished goods across various nodal points in a global supply chain, which has a dependency on vendors and partners across the globe. Our customers in the transportation industry are specifically using analytical models to optimize vehicle/airline allocations across various sectors and routes