Wednesday, October 17, 2012

Analyze This:

Use the power of analytics to measure and improve your business results.

Successful companies are building analytics strategies, taking advantage of the wealth of data available to gain a competitive advantage in the marketplace. A paper from Michael Watson, Ph.D. of IBM lays out three categories of analytics, each with a specific application to your supply chain.

Descriptive analytics seeks greater visibility into the supply chain. Using business intelligence tools, it allows managers to drill down to extract important data points, and respond in timely fashion.

Predictive analytics uses data to open a window into the future. Forecasting future demand patterns, using internal and external data to estimate transportation rates, and analyzing customer order patterns allow you to develop smarter strategies.

Prescriptive analytics puts those strategies into action. Finding least-cost routing is a simple example of using computing power to instantly evaluate between a myriad of possibilities, but with the right data set, and the right filters, similar exercises can uncover significant untapped possibilities for savings and increased efficiency across your supply chain.

Generating that data, and providing the filters to extract the significant from the noise, is what TOTALogistix does every day. Got a weak link in your supply chain? We can help you analyze that.

Kirk Shearer
President
TOTALogistix
www.totalogistix.com
800-989-0054 x103
         

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