Planning and forecasting are the key words in logistics!
Indeed, anticipating the requests and needs of its customers, but also logistical hazards, means avoiding superfluous expenses.
In short, this allows for better optimization of the supply chain.
Supply chain management
Supply chain management is the set of physical and information flows from the acquisition of raw materials to the distribution of finished products to the customer.
The process can be complex, especially if the company owns numerous factories and transports. This is why companies are constantly looking to make their supply chain more efficient in order to reduce their logistical, production and storage costs.
Thanks to specific tools, Supply Chain professionals will be able to analyze historical data in order to make forecasts and optimize their Supply Chain as best as possible.
What is predictive analytics in logistics?
Predictive analytics in logistics is the analysis of historical and real-time data to anticipate the behaviors and trends of individuals in order to propose solutions to optimize logistics management.
Predictive analysis consists in making assumptions about future events. Thanks to this foresight, businesses will be able to reduce their risks, optimize their operations and potentially increase their revenues.
Some examples of the benefits of predictive analytics in the Supply Chain
- Demand analysis. By analyzing the orders placed, the company will be able to estimate demand in the most accurate way.
- Inventory management. An inventory estimate will allow the company to avoid stockouts or surpluses.
- Detection of anomalies and fraud. Predictive analytics will predict the probability of future events. While traditional reporting can detect fraud once it has occurred, predictive analysis tools will be able to detect it when it occurs. For example, if one of your assets breaks down, you will receive a real-time alert in order to plan an alternative as quickly as possible.
- Customer support. Responses to your customers will be more accurate and detailed.
What are the tools on the market for the predictive analysis of your Supply Chain?
Many software programs exist but the TMS remains the most well known tool in logistics. Indeed, the TMS is constantly evolving. Numerous algorithms are integrated into this software to add predictive functions for planning and optimizing the supply chain.
The TVMS Everysens
Everysens offers a TVMS (Transport Visibility Management System): the solution to optimize and manage its transport from end to end.
Thanks to its expertise in AI and IoT, Everysens has been able to enrich the classic functionalities of a TMS in order to offer the first collaborative, predictive and real-time TMS.
Discover our platform through a demo.
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