Industry Leaders Share Tips for Streamlining Logistics
Keeping the books clean requires visibility and awareness of dollars coming and going out. Once again, in the theme of digital solutions, if you want that granular level of transparency, leveraging technology solutions in 2019 is imperative, especially for large-scale businesses. Supply chain management and financing logistics are two of the most important factors when considering logistics planning. Blume Global CEO Pervinder Johar explains why:
“In 2019 the most agile and resilient supply chains are the ones that are going to be the most successful. Natural disasters, economic flux, and rising tariffs are going to remain a concern for the supply chain industry and therefore the C-suite may reconsider its current manufacturing strategies and its global operations. To help inform these decisions, companies should combine external and internal data. Predictive analytics uses historical data and machine learning to identify and anticipate certain outcomes that become increasingly valuable as the volume of data increases. When properly analyzed, this data is helpful for identifying patterns and areas for optimization, to fuel better planning and resource utilization.”
Consider implementing a seamless management system that your business can rely on to eliminate risks such as invoice and vendor fraud, inventory stockpiling and increased inefficiencies. In doing so, companies can track products, customer purchases and deliveries all while monitoring and maintaining their supply chain.
“Predictive analytics will become highly useful to optimize resources within the supply chain in 2019. In late 2018, Gartner identified eight strategic technology trends for the supply chain and how they can provide a competitive advantage. Combined with AI and machine learning, data is the driver for predictive capabilities — with it, future performance can be optimized based on historical results,” Johar said. “This data is powerful and has the potential to positively impact every aspect of the supply chain, from sourcing and compliance to production and quality control. Embracing the value of technologies such as predictive analytics is essential for a strong foundation, upon which to build a digital supply chain.”
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