Data Analytics enables companies to simplify data and gain deeper insights into their business operations to improve operational efficiency, increase revenue and gain competitive advantages. Increasingly, companies are making use of Data Analytics to make better-informed business decisions. Data Analytics can help your company remain competitive by helping you better understand your business, anticipate untapped opportunities and even suggest actions that best suit your company based on forecasted scenarios.
In Supply Chain Management, there are three different application levels of Data Analytics:
- Descriptive Supply Chain Analytics – describes current business situation based on historical data. This involves basic query, reporting and visualisation of data.
- Predictive Supply Chain Analytics – mining of historical data to indicate patterns of future situations and behaviours.
- Prescriptive Supply Chain Analytics – making use of the results of Predictive Analytics to suggest actions that take best advantage of the predicted scenario.
This Supply Chain Analytics MasterClass equips participants with the knowledge of the latest Supply Chain Analytics technologies and analytics skills via hands-on lessons, with the use of actual business data. The practical sessions will help participating companies better understand their businesses and develop data-driven solutions to improve productivity and customer service satisfaction.
Supply Chain Analytics can be applied in various decision-making areas in a company:
- Planning Optimisation – Product category optimisation, Omni-channel optimisation, Make or Buy decisions
- Sourcing Decision Making – Supplier performance analysis, Supplier risk profile analysis
- Manufacturing Optimisation – Production scheduling prioritisation, Capacity management, Quality optimisation, Production cost analysis
- Distribution and Order Fulfilment – Distribution network optimisation, Cost savings, Customer segmentation
Watch our webinar video held on 2 March 2021
to learn more about this MasterClass.