Successful organizations are defined by their precise and efficient supply chain management. In an increasingly inter-dependent world, the route from manufacturer to a customer is often complex and time-consuming. Our supply chain analytics solutions including demand forecasting, inventory planning, network analytics, and pricing analytics can help you maximize efficiency, minimize costs and optimize your supply chain management.
Supply chain analysis is the use of data in the design, planning and management of the supply chain. The applications are not only in the fields of demand sensing, forecasting and performance measurement but also in the area of monitoring the supply chain ecosystem to detect drivers of potential disruptions to launch pre-emptive measures.
Vendor management is the process that empowers an organization to take appropriate measures for controlling cost, reducing potential risks related to vendors, ensuring excellent service deliverability and deriving value from vendors in the long-run. This includes researching about the best suitable vendors, sourcing and obtaining pricing information, gauging the quality of work, managing relationships in case of multiple vendors, evaluating performance by setting organizational standards, and ensuring that the payments are always made on time.
An organization has to take appropriate measures for controlling cost, reducing potential risks related to vendors, ensuring excellent service deliverability and deriving value from vendors in the long-run. This includes researching about the best suitable vendors, sourcing and obtaining pricing information, gauging the quality of work, managing relationships in case of multiple vendors, evaluating performance by setting organizational standards, and ensuring that the payments are always made on time.
The vendor management system acts as a single node to manage all vendor related activities in any organization or business while ensuring improved efficiency and long-term growth in a cost-effective manner.
Procurement analytics is the process of collecting and analysing procurement data to form meaningful insights and aid effective business decision making. Examples range from simple spend analysis reports to predictive analytics frameworks.
The need for procurement analytics has developed from organizations’ desire to get a consolidated view on procurement spend. From this, the stakeholders would have answers to business questions such as: How to identify savings opportunities? How to measure savings projects impact on the financial bottom-line? What are the supplier or market risks within procurement operations? Where are the new opportunities and how to improve cash flow?
Organizations are enabled to leverage data to more effectively manage supplier relationships, growth and even bring new innovations to life. Insights are provided to create the most effective category plans; analysis of consumption patterns to reduce overall spend; and analysis of preferred supplier compliance, and buying channel distribution to address savings leakage.
Inventory management is a challenge for both manufacturers and distributors. Each supply chain issue that can arise has repercussions. For example, excess inventory can cause a decrease in product turnover and a loss of profits, while stock-outs can cause backorders, unhappy customers and lost sales.
Optimizing inventory can ensure that the right product is available in the right quantities, at the right time and the right locations, to meet supply and demand. Not only that, organizations that optimize their inventory can reduce stock levels and subsequently avoid associated carrying costs and obsolescence write-downs.
The use of performance analytics plays a key role in the inventory management and optimization processes by tracking KPIs like Sales to inventory ratio, Days of inventory, Total inventory and GMROI helping manufacturers and distributors better determine their stocking targets and if there are any upstream or downstream issues that need to be addressed.
Supply chain network planning involves the evaluation of complex trade-offs among various supply chain components such as suppliers and their capacities, purchasing costs, transportation costs, manufacturing capabilities at different facilities and overall demand satisfaction in a global network – while taking long-term business goals into account.
Purchasing, manufacturing, distribution, and transportation decisions should be considered in an integrated manner such that alternative decisions under different demand and supply scenarios can be simulated by a unified global model. These decisions affect how vehicle routings are done, how freight cost is optimized and what is the optimal way of trailer utilization.
Organizations are enabled to visualize and analyse the full breadth and depth of supplier-to-customer network to identify areas of weakness, and then determine an optimal design for supply chain network that minimizes costs and maximizes profits, formulating innovative and strategic network design with the optimal number and placement of warehouses, plants, and distribution facilities.
Returns management, often referred to as reverse logistics is the management of returned items to your company. How returns are managed will influence the overall management of warehousing and storage, inventory, depreciating goods and soiled items. Therefore, the bottom line will be the impact on overall profitability.
Returns management presents both challenges and opportunities for inbound logistics. Waste management regulations and non-compliance penalties are increasing. Rising commodity prices and a growing secondary marketplace, however, create an opportunity to recover value from used and scrapped materials. Stakeholder need to analyse trends in returns by asking the following questions: What insights are uncovered from the products that are returned? Where are the returns coming from and why? What kinds of customers are returning the products?
Returns management or reverse logistics allows organizations to track the returns and find insights from patterns, salvaging optimization and cost recovery analysis by developing a returns management strategy designed to provide customers with multi-channel visibility.