Finance

What Can Data Analytics Do for Supply Chain Management?

The supply chain used to be more opaque than it is now — each “link” in the chain fulfilled its role and passed the product off to the next. Now, it’s entirely possible to gain a transparent view from product development to delivery and beyond, as well as leverage that transparency into better decision-making. Data analytics can reduce costs, mitigate risk and improve profit margins. How? By providing speedy data insights to decision makers at every step. Armed with this newfound knowledge, employees can troubleshoot inefficiencies and optimize processes for better outcomes. Here are four areas in which data analytics can improve supply chain management.