Here’s a brief use case that demonstrates the value of real-time data in improving decision-making in the supply chain:
A large retail company was struggling with a significant increase in demand for a particular product line.
Despite efforts to keep up with demand by increasing production and stocking up inventory, they were still experiencing stockouts and lost sales.
The company decided to invest in a analytics system that would allow them to monitor the supply chain in real-time, including inventory levels, transportation schedules, and demand patterns.
As a result, they were able to:
👉 Reroute shipments to avoid delays,
👉 Prioritize production to ensure that the most in-demand products are produced first.
👉 Adjust pricing and promotions in real time based on demand patterns.
These decisions would have been difficult to make before analytic capabilities.
Tools like Smart sensors, transport management systems (TMS), artificial intelligence (AI), and the internet of things (IoT) give you the ability to detect supply chain flaws pronto.
Are you taking full advantage of real-time data in your decision-making process?
As a management and technology consulting firm, Synvance provides guidance to businesses on their core transformational activities regarding their supply chain, from identification through business-as-usual.
