Supply Chain Analytics
IoT Analytics
Transforming Supply Chain Management IoT is a game-changer, enabling data collection throughout the product lifecycle and fostering improved consumer-company communication. This presents opportunities to translate data into value for both consumers and businesses. Connected products enabled by IoT can significantly impact the consumer- brand relationship by offering opportunities for precision marketing, targeted innovation, and shared values and unlocking the end-to-end value chain in manufacturing.
Key Deliverables of Supply Chain Analytics
IIoT
Industry 4.0.
Objective
Demand planning, sales and operations planning, inventory management, and logistics management are examples of supply chain analytics and IoT. Each of these activities can improve the overall efficiency of business operations, leading to significant cost savings and revenue generation.
What Challenge(s) do Our Clients Face?
Supply Chain Analytics creates value.
- S&OP utilizes real-time data for inventory management and data-driven forecasting.
- Enhances sourcing through real-time supplier evaluation and the creation of packaging cost models.
- Manufacturing benefits from scheduling and defect analysis.
- Warehousing gains by logistics cost reduction through technology investment.
- Transportation companies use analytics for efficiency and cost savings.
- Point of sale tracking involves optimizing shelf space, markdown pricing, and product placement.
IoT Analytics Creates Value.
Fundamentally, IoT enables data collection across the product lifecycle and enables companies to stay more connected, leading to two-way and honest time communication with consumers. Importantly, this brings an opportunity to translate data to create value for consumers and businesses – a win-win. Connected products profoundly change the relationship between consumers, the product, and the brand. For brands, there are five critical areas of value to be gained from successfully connected offerings:
- Influencing at the point of purchase – IoT technologies will likely enable companies to strengthen engagement and retention across the shopper journey.
- Precision Marketing – IoT-enabled connected products are likely to allow companies to tailor the interactions offered to different audiences and provide rewards and offers on an individual basis (for example, receiving offers while walking near the product in the supermarket aisle). By leveraging real-time data, brands can drive precision marketing designed for their consumers and informed by their behavior.
- Targeted innovation – The advent of IoT within everyday products is likely to allow for an unprecedented wealth of granular usage data to be collected. Brands will be able to collect information about how consumers are using their products and expand the traditional view of consumers from the point of purchase through to the end of consumption. This data can then be transformed into insights, delivered when and where needed to make better strategic and operational decisions, drive strategic innovation, and, in many cases, gain a competitive advantage.
- Reconnecting on shared values – Brands have a significant opportunity to authentically reposition and align with shifting consumer values of wellness and sustainability.
- Unlocking the end-to-end value chain – This is the Holy Grail when all parties along the value chain share data and connect. IoT devices and sensors create a digital identity, enabling physical products to be identified, communicated with, and tracked—giving insights into parts of their physical operations that haven’t been measurable. Think big, start small, and scale fast.
Smart factory investments often start with IoT development. Brands should utilize connected devices to create service- driven consumer relationships, deliver personalized engagement, and provide comprehensive product information. Brand benefits include restored trust, increased loyalty, and the ability to gather insights for precise marketing and informed product improvements.
How Do We Help?
Real-time analytics will help drive innovation and create a competitive advantage, ensuring you always stay ahead of the curve. Demand planning, sales and operations planning, inventory management, and logistics management are examples of supply chain analytics and IoT. Each of these activities can improve the overall efficiency of business operations, leading to significant cost savings and revenue generation.
Supply chain analytics have progressed significantly and are delivering substantial benefits. IoT analytics is still in its infancy and will require a little more time to mature. Any model must establish a business model that generates revenue and stability for the value proposition and resource adjustments. Considering the transition level of these analytics, we are referring to the use case as ‘how do we help.’ Sales and customer analytics, as well as finance analytics, have already transitioned towards maturity.
Supply Chain Analytics Use Case:
- Focusing on Operational Excellence, Supply chain responsiveness, On-Time Delivery analysis, and lead time.
- Product and Inventory measurement can be achieved through Capacity utilization, Inventory aging, and Manufacturing cost.
- Procurement and spending analysis are crucial in supplier scorecards, vendor selection, and potential savings opportunities.
IoT Analytics Use Case:
- IoT Analytics: A Gateway to New Revenue Streams IoT Analytics is not just about improving operations; it's about creating new revenue streams. Predictive maintenance, for instance, reduces repair needs and downtime, thereby increasing productivity. By exploring opportunities with IoT for predictive maintenance, businesses can tap into new revenue sources and enhance their bottom line.
- Enhanced Customer Service: Proactive measures to enhance customer satisfaction, increase retention, and maximize lifetime value. IoT Analytics is not just about data; it's about improving the customer experience and building stronger relationships.
- Cost Savings: Sensor-based data collection improves oversight, reduces costs, enhances equipment performance insights, enables the ability to make cost-effective decisions, and improves your bottom line.
What are the Benefits of Supply Chain Analytics?
Key Benefits of Analytics
- Increased visibility of inventory levels, demand, and capacity for accurate production and distribution.
- Real-time analysis to identify inventory levels, delivery mismatches, and incoming deliveries.
- Accessing sales data, market trends, and economic factors for accurate demand estimation.
- Monitoring delivery routes, traffic data, and weather for real-time rerouting if necessary.
- Transparency at SKU levels, automated replenishment systems, and demand forecast data to optimize inventory.
- Real-time optimization of distribution hubs, plants, and warehouses based on material flow data.
What are the Benefits of IoT?
- Revenue Generation:- Reduced repair needs and shorter machinery downtime can increase productivity. Business leaders should explore opportunities with IoT, such as using data for predictive maintenance to create new revenue streams.
- Greater uptime for value-producing assets
- Net-new products and services from collected data
- Enhanced High:- Value Customer Ownership and Service. Sensor feedback in IoT analytics ensures proactive measures to improve customer satisfaction, increase customer retention, and maximize lifetime value. This allows for identifying and tracking potential issues before they reach the customer, maximizing the benefits of IoT.
- Cost Savings:- Transitioning to sensor-based data collection improves oversight, reduces costs, and enhances equipment performance insights. Proactive maintenance reduces downtime and informs warranty policy improvements.
- Elimination of manual data collection processes
- Greater production capacity planning and prescriptive maintenance
- More efficient service and warranty processes
- Data Capital:- “The convergence of machines, the internet, and technological innovations has created a new capital called “Data,” generating large volumes of accurate data inexpensively.
- IoT in Finance:-
- Instant inventory control and automation of inventory reporting via IoT data feeds.
- IoT enables predictive maintenance models, enhances product value, and facilitates fair assessment.
- IoT simplifies complex accounting calculations and provides interconnected devices for asset tracking.
- IoT improves Working Capital Management by using sensors for inventory tracking and reducing logistics costs.
- Optimization: IoT reduces costs by efficient product usage and increased asset utilization across business processes.
- Innovation: IoT applications drive innovation, leading to better products and services and enhanced customer service.
- Transformation: IoT is blurring industry boundaries by enabling disruptive business models, such as telematics, which involves the automotive and insurance industries.
- IoT refers to the digital transformation of processes and systems in the manufacturing sector, perhaps the most crucial element of Industry 4.0.
Coaching and Competence Focus
We have developed a module that considers business needs and executive working styles.
- During the assignment, we encourage your team to take some initiatives and projects under our supervision. That will be an excellent chance to showcase and apply their recently enhanced competence to the company's requirements. We review their performance and guide them toward continuous improvement.
- We wish to take key personnel mentoring. We hope what we deliver to clients will be sustainable in the medium to long term. Many times, mentoring key personnel helps keep that momentum. We identify them as super users. Super users are responsible for mastering specific skill sets and internally training others. This is the benchmark method where the company can internalize the competence building without frequently hiring an external advisor.
How Do We Serve Our Clients?
Frequently Asked Questions
Supply Chain Analytics helps
- S&OP utilizes real-time data for inventory management and data-driven forecasting.
- Enhances sourcing through real-time supplier evaluation and the creation of packaging cost models.
- Manufacturing benefits from scheduling and defect analysis.
- Warehousing gains by logistics cost reduction through technology investment.
- Transportation companies use analytics for efficiency and cost savings.
- Point of sale tracking involves optimizing shelf space, markdown pricing, and product placement.
- Optimization: IoT reduces costs by efficient product usage and increased asset utilization across business processes.
- Innovation: IoT applications drive innovation, leading to better products and services and enhanced customer service.
- Transformation: IoT is blurring industry boundaries by enabling disruptive business models, such as telematics, which involves the automotive and insurance industries.
- IoT refers to the digital transformation of processes and systems in the manufacturing sector, perhaps the most crucial element of Industry 4.0.
Supply Chain Analytics Use Case:
- Focusing on Operational Excellence, Supply chain responsiveness, On-Time Delivery analysis, and lead time.
- Product and Inventory measurement can be achieved through Capacity utilization, Inventory aging, and Manufacturing cost.
- Procurement and spending analysis are crucial in supplier scorecards, vendor selection, and potential savings opportunities.
IoT Analytics Use Case:
- Revenue Generation: Predictive maintenance reduces repair needs, and downtime increases productivity. Explore opportunities with IoT for predictive maintenance to create new revenue streams.
- Enhanced Customer Service: Proactive measures to enhance customer satisfaction, increase retention, and maximize lifetime value. IoT Analytics is not just about data; it’s about improving the customer experience and building stronger relationships.
- Cost Savings: Sensor-based data collection improves oversight, reduces costs, enhances equipment performance insights, enables the ability to make cost-effective decisions, and improves your bottom line.
