5 KEY SUPPLY CHAIN MODELS AND METHODS THAT ARE USED TO ANALYZE SUPPLY CHAINS
5 KEY SUPPLY CHAIN MODELS AND METHODS 1. DESCRIPTIVE ANALYTICS This is the best type of supply chain management analysis that you can use to check out the past performance of the supply chain. It will tell you what has happened, so you can check if the results are matching with your plans and objectives. This method uses data mining to gather raw information from the supply chain. Summarizing it and presenting it in a compact form will allow you to get a clear image of the desired period in the past. 2. PREDICTIVE ANALYTICS If you want to see what might happen in the future, this is the method you should use. As the name suggests, predictive analytics will form potential scenarios that may take place in a month, two, a year from now. Although it is never guaranteed that they will happen exactly as predictive by this method. Even so, you will know what to expect, in a significant proportion, so you can adjust your plans accordingly. 3. PRESCRIPTIVE ANALYTICS In case you want to se...