Data drives better decisions. That’s the foundation underpinning supply chain analytics, a discipline that allows organizations to mine insights from its procurement, manufacturing, inventory management, warehousing, and distribution activities.
Leveraging these insights, companies gain the opportunity to reduce costs, increase efficiencies, better manage potential risks, plan more effectively, and create a more resilient supply chain that’s capable of flexing in response to today’s challenges.
In this article, we’ll walk you through a complete explanation of supply chain analytics: what it is, why it’s important, what benefits it can offer, and what challenges companies might encounter in this arena. With this understanding, you’ll have a better grasp on this logistics concept—and whether it’s something you want to investigate further.