Supply Chain Analytics produced by way of Cloud-based CRM solutions have obvious applications in Supply Chain Management. This is because Supply chains are driven solely by quantifiable indicators and statistics regarding overall performance.
Data analytics for supply chain refers to the science of investigating raw data, and thus, forming conclusions about the performance and other necessary information. This is done to foster better decision making in business, and also to check the worth of the existing theories and model of business.
According to an article on EBN online, “Some industry experts claim that the day for real-time supply chain practices has come -- and is on the verge of being more mainstream, thanks to a multitude of cloud data management tools and increased corporate adoption of new supply chain software platforms coming to market. However, there's also an acknowledgment that a necessary foundation for moving efficiently at real-time speed -- supply chain analytics -- is still very much at the beginning stages of development at many companies, and will take the time to build out.”
There is an increasing need for supply chain analytics for CRM because coping with the traditional system of supply chain management is becoming increasingly difficult as a result of a steep increase in the expectations of customers,
pressures for better pricing, and the influence of the global system of operating. In addition to this, there are other economic impacts such as suppliers being moved off-shore, increased competition from outsourcers, and the global recession, and rising costs of fuel. All these situations, when combined, result in wastage of your supply chain, and thus, the importance of supply chain analytics increases.
Businesses that make use of supply chain management devote a considerable amount of time on the process to make sure it carves out a worth for itself, but with the introduction of Supply chain analytics, it becomes possible to deeply investigate the data for supply chain in search of efficiencies and savings.
Supply chain analytics for CRM are undertaken especially to meet the needs of those customers who expect instant responses, both cost effectively and rapidly.
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