This blog is a two-part collaboration with SAS – read the other installment from Richard Widdowson on SAS Voices.
The holiday season is fast approaching, and with it comes the challenge of managing supply chain disruptions which have become a new normal for businesses, especially in retail and consumer goods sectors. Factors such as changing consumer behavior, materials shortages, or unforeseen events have shown their potential to wreak havoc on supply chains. But businesses are not defenseless against these challenges. A resilient, agile supply chain that spans from the source to the customer is key to dealing with disruption.
This is why we’re excited to announce our partnership with SAS, a partnership that integrates real-time data collection with advanced analytics to provide businesses with the resiliency and agility needed to manage and mitigate supply chain risks effectively.
There are many ways a strong digital strategy leveraging SAS and project44 can empower supply chains during the holidays and beyond, including:
- Harnessing Real-Time Data: Today’s supply chain complexities cannot be managed with outdated, reactive approaches. Forward-looking strategies require real-time data and advanced predictive analytics, to better understand and respond to potential disruptions. The alliance between SAS and project44 brings this capability to the forefront, offering access to a global network that collects and updates data at every stage and level, from various carriers and modes of transport to individual orders and SKUs.
- Analyzing Data for Actionable Insights: Having a wealth of data is a start, but making sense of this data is crucial. SAS provides the predictive analytical tools necessary to process and interpret the data collected by project44. This allows for more accurate forecasting, from inventory levels to potential stockouts, enabling companies to make informed decisions quickly.
- Demand Planning Precision: Combining extensive data with sophisticated analytics leads to a deep understanding of both supply chain operations and consumer demand. This combination is vital for effective demand planning, allowing organizations to not only track and optimize inventory but also to anticipate demand spikes and drops with greater accuracy. Such precision is essential for maintaining the right stock levels, reducing costs, ensuring product availability, and keeping the customer happy!
- Operational Efficiency and Customer Satisfaction: With the holiday season rush, it’s critical to meet customer expectations for timely delivery. Digital strategies prevent the disappointment of out-of-stock scenarios, ensuring that customers can be promptly informed about the availability and delivery of their desired products. This not only reduces performance related penalties, it maintains customer satisfaction and loyalty and drives the overall efficiency of the supply chain which results in reduced expense.
A data-driven supply chain strategy has tangible benefits for the internal workings of a company. It reduces manual tasks and optimizes employee efforts to focus on more strategic, value-added activities, which can also lead to increased job satisfaction and lower turnover.
There has been significant growth in real-time data and analytics capabilities. With the advent of Artificial Intelligence and Machine Learning (AI/ML), these capabilities will become increasingly sophisticated, uncovering deeper insights into supply chain management and optimization. By adopting a digital strategy now, companies can better prepare for further developments and build greater resilience and agility in their supply chains.
Learn more about how the partnership between SAS and project44 can transform your supply chain by downloading our e-book.