/* ---- Google Analytics Code Below */

Friday, November 27, 2015

Predictive Analytics in the Supply Chain

Nicely done overview of the topic.  Sounds like an outline of areas I worked in for a long time.   I do have to ask: What has changed since we started work in this area in the 70s?   I saw evidence of similar work being done in the 50s.   So?   The problems areas are the same.  More data, especially in real time, is available now.  Statistical and fundamental math are largely the same.  Computers are now faster and processors can now be used in parallel.  Some new methods exist that allow us to model some problems closer to the way decisions are really made.   Decision makers expect better, real time results.  The last point, increased expectations, always at hand answers, may be the biggest driver of all.   It gets your decision makers tightly involved.

From the article:  Summary:  Predictive analytics are increasingly important to Supply Chain Management making the   process more accurate, reliable, and at reduced cost.  To be at the top of your game as a supply chain   manager you need to understand and utilize advanced predictive analytics. .. "    by William Vorhies   Original post in Data Magnum blog

No comments: