Optimizing logistics is a priority for many procurement and supply chain professionals. However, due to a lack of visibility, it can also be a challenge.
A recent survey by Deloitte revealed that most supply chain professionals feel they do not have the visibility necessary — into their own operations, their shippers, their providers and their customers — to improve pricing and flexibility in their supply chains.
So how can this issue be resolved? According to EBN, cloud-based analytics tools can be the answer.
By continuously collecting real-time, real-world data, these tools enable you to use "what-if" predictive modeling to understand your organization's current state of logistics and to discover different cost savings scenarios. Armed with this intelligence, you can make more strategic and intelligent changes in your supply chain.
Of course, predictive modeling is not without its limitations, and it's important to follow a proven process in order to get the most out of the tools you select and the data you uncover.
If you are interested in learning more about "what-if" predictive modeling, how it works, best practices, and how it can positively impact your supply chain, read the original article written by EBN.