oboloo Glossary

Data Analytics In Supply Chain Management

oboloo Glossary

Data Analytics In Supply Chain Management

Data analytics in supply chain management is the process of collecting, organizing, and analyzing data from various sources within the supply chain to make informed decisions. It helps identify patterns and trends, predict future developments, answer pressing questions, and capitalize on new opportunities. By using data analytics, organizations can uncover insights into customer preferences and behaviors, inventory levels, productivity, cost savings, and more – all of which are essential to running a successful business. Data analytics also provides valuable insights into potential risks and threats that might otherwise go unnoticed. With a comprehensive understanding of the supply chain dynamics through data analysis, businesses can make strategic decisions to increase efficiency and reduce costs, while also promoting innovation and growth.