5 Ways To Accelerate Your Competitive Advantage By Getting Smarter With Supply Chain Data

When you think of advanced data analytics, big tech companies like Google and Facebook inevitably come to mind. You might not realize it, but DHL Supply Chain deserves to be on this list. Advances DHL Supply Chain in the discovery, analysis and use of data are transforming the supply chain, not to mention substantial benefits and return on investment for our customers.

As the supply chain continues to become more sophisticated and digitized, data analytics is emerging as a powerful tool helping companies improve supply chain visibility, flexibility and resilience. .

The challenge many businesses face is to identify, prioritize, and act on data appropriately to deliver measurable and achievable business goals and value… and, ultimately, predictive insights. Most are only scratching the surface when it comes to the business value that can be achieved by establishing data analysis processes.

Whether they’re tracking bad data or lacking enough data or the right expertise to effectively analyze data, many companies are missing out on vital opportunities to harness the power of data to solve their complex business chain problems. ‘supply. A third-party logistics provider (3PL), like DHL Supply Chain, the industry leader in data analytics, can help.

Use data effectively to overcome supply chain challenges

Here are five areas where DHL Supply Chain is using predictive analytics and machine learning to unlock new opportunities and solve key supply chain challenges.

1.) Work

The demand for talent in the supply chain continues to be a daunting challenge, with companies struggling to identify and attract qualified candidates. DHL Supply Chain uses data analytics to help companies improve resource planning to ensure they have the skilled workforce they need.

One of the ways we do this is by focusing on data that can help better understand the attributes associated with turnover. For many of our clients, we estimate the cost of sales per associate to be as high as $ 4,000. We analyze a variety of public and private data points to understand what causes revenue at the micro and macro levels. This understanding allows us to recommend strategic changes at a high level and even run different scenarios to discern which changes might be most effective.

2.) Advanced planning

No matter how hard companies try to proactively predict and prepare for spikes in demand, it is often not enough. As soon as volume is reached, companies inevitably fall back into a reactive state, trying to determine what items are in demand and moving those products from reserve to active areas.

DHL Supply Chain has created a machine learning model that learns from past and current peak seasons to enable customers to make more efficient inventory decisions inside the warehouse. The model integrates a variety of internal and external factors, such as inventory levels, product demands, inbound inventory rate, purchasing patterns, economic forecasts, and consumption trends so that companies can better position inventory to meet customer demands as they change or intensify.

3.) Reduction of errors in the warehouse

There are a number of opportunities to improve operational efficiency in the warehouse through greater visibility and predictive analytics. For example, at DHL Supply Chain, we use machine learning to reduce error rates associated with the number of cycles. This predictive rolling inventory model has been shown to ensure that actual inventories match what is listed in the system.

The model gathers data from the WMS on all historical rolling inventory tasks, combining it with a number of other data points that include product, location and transaction information. It then learns why errors occur and is even able to predict where errors might occur. This information is then used to identify and modify processes that could be causing errors, increasing the accuracy of cycle counting and ensuring products are available when consumers want them.

4.) Greener transport

One of the ways DHL Supply Chain is bringing additional success to supply chain sustainability initiatives is by using the EPA’s SmartWay program to help logistics and supply chain managers prioritize efficiency in their choice of carrier. By rating carriers on their emissions and environmental impact, the program helps companies identify and select more efficient freight carriers, modes of transportation, equipment and operational strategies to improve supply chain sustainability. and reduce costs.

DHL Supply Chain also uses proprietary algorithms that we developed with SmartWay to direct more freight to better performing carriers. We can run predictive scenarios for our customers to show them how much it would cost – and how much CO2 they would save – to switch to a SmartWay rated carrier. We can also track the actual performance of that decision over time.

5.) End-to-end supply chain visibility

DHL Supply Chain’s MySupplyChain portal brings together data from various supply chain platforms to help remove clutter and highlight the data needed to meet goals and gain supply chain visibility. Users no longer need to access and interpret disparate systems to navigate supply chain demands and analyzes.

The platform enables customers to access tracking and traceability data, inventory, operational performance and reporting, business analysis, customer service and more, providing end-to-end visibility of global supply chain operations. With this comprehensive view of network-wide inventory positions and warehouse-level order statuses, customers can leverage up-to-date data to identify insights that drive continuous improvement and competitive advantage. .

To learn more about how DHL Supply Chain can use data to help you break through barriers in your supply chain, visit http://app.supplychain.dhl.com/e/er?s = 1897772577 & lid = 8876.

Previous Sebi: Sebi notifies rules for entities with listed debt securities
Next Limitless Tire Saves Customers 12 Months of Payments with No Credit Check Financing