Supply chain Predictors

 Welcome back Dear Readers, This is Dharunanand R pursuing MBA in Analytics and Operations from Amrita School of Business. In this week's blog on Supply Chain lets explore  "How Supply chain Predictor applications work ?"

Organizations today have to be prepared to handle Global incidents rapidly the volume of data available to organisation that is Greater complexity in understanding what data is necessary to better respond to major disruptions. Some organisations have realised the importance of using data to proactively manage supply chain risk better preparing their networks for external disruptions, durable corporate relationships and the degree of agility instilled with in operating model is what can help organisations to strengthen overall preparedness in the face of any disruptions. 

To mitigate recent crisis like covid pandemic, the systematic and proactive approach designed to allow you to take appropriate action. Supply-chain predictor software which is design to connect supply change with external data sets providing ability to detect major descriptions stemming from a wide range of events, such as financial,geopolitical, environmental and natural disasters 

The solution adapts a data driven supply chain approach that collates data from whole of the organisation and combines it with external data from sources such as data providers, news feeds and social media to provide her digital twin of the supply chain. It helps organisation to filter out the noise of these sources allowing them to focus on  possible issues and risk that are immediate and relevant. This can help to challenges related to operations planning, inventory management, production, and proactive risk management 

This geospatial view is obtained by combining small data sets from the bill of materials, sales and inventory management to provide digital twin of the supply chain network. This creates understanding of different manufacturers suppliers and distributors to illustrate the possible impact of any disruption with each chain of the network. We can use this technology to see the impact all over the world and the financial aspect related to it. 

These supply-chain predictor also offer additional planning capability which utilizes machine learning and past decisions to provide optimal solution for an incident. It is also used to gather news from social media which are filtered by using the data science algorithm sun News which are used to understand the current risk and what is going on in the world 

Finally this system is used to predict the different models that are associated with supply chain and have a holistic approach to plan for future