Data Analytics for Logistics and Supply Chain Management

Course Outline

    1.What are Data Analytics in our daily work and play life about?

• The Critical role of data analytics in Today’s Logistics, Freight, Inventory, Network Optimisation and Supply Chain’s Digital Transformation & Change Management (DTCM)

2. How is Data Analytics used in Logistics and SCM?

Data and Data Analytics are critical success factors and are essential for AI/ML (Artificial Intelligence) (Machine Learning).

AI and ML Initiatives:

• AI/ML requires vast volumes of data to train models
• Ensuring unbiased results requires diverse data sets.
• Models must be continuously trained with latest information to maintain predictive performance, particularly in dynamic business environments.

By taking advantage of consolidated data architecture, successful AI disrupters have been able to exploit the power of different data types and the associated ecosystem to drive your companies’ innovation and transformation.

3. How do data analytics help to identify trends in data?

Data analytics tools and solutions acts a digital platform for manufacturing, logistics, shipping, & supply chain service providers companies

• Enables them to enhance demand-supply matching and handle asset underutilization better.
• Analytics solutions improve the overall companies’ operational clarity and offer better connectivity across networks in the supply chain
• Data Analytics in Logistics and Operations Management provide data driven solutions the know how in data analytics will improve logistics and supply chain planning
• Example of data mining, analytics and solution found in..

How do you freight, shipping data analysis?

 - Understand Your Shipping Data (And How to Use It)

• Total orders. Keeping track of how many orders are processed and shipped may seem obvious, but this data can offer valuable insights into your logistical operations. ...
• Picking accuracy.
• Shipping rates.
• Parcel tracking.
• Delivery performance (OTD On Time Delivery metrics)

4. How do data analytics tools help to improve Logistics?

 Benefits of Data Analytics

Cost reduction / Bottom Line - Ultimate result of all these activities enabled by data analytics is often visible in the bottom line of the organization. Business leaders say that data analytics helps them:

• Reduce costs by streamlining business operations, rightsizing technology spending, improve inventory management and better negotiate with suppliers
• Speed time-to-market by quickly identifying new product opportunities, enhancing development processes, enabling faster testing, and improving overall quality.
• Improve customer satisfaction by better meeting customer needs and giving customer service agents the tools, training and support they need.
• Increase sales by improving product offerings, enhancing marketing efforts, and empowering salespeople.
• Increase margins by reducing costs and optimizing prices.

Improve the accuracy of forecasts by analysing historical data and using machine learning to enable predictive and prescriptive analytics.