Impact of Business Analytics on Supply Chain

Abstract

This paper addresses the challenge of optimizing supply chain management to increase efficiency and decrease costs in today's dynamic business environment. The contribution of business analytics is analyzed in optimizing inventory classification, lead time assessment, logistic performance, and technology deployment. The key research problem emphasizes the need to utilize data-driven insights and innovative techniques to maintain competitive advantage.

Our methodology integrates tools such as Tableau and MS Excel for data visualization and analysis, along with secondary data sources and literature reviews. The objectives encompass conducting ABC inventory analysis, assessing lead times and analyzing techniques to optimize costs in inbound logistics. The analysis classifies inventory items, assesses variances in lead times, and identifies potential cost reduction opportunities through technology innovations and investments.

The outcomes provide useful insights for improving the efficiency of supply chain. Lead time analysis with effective inventory categorization can streamline operations and reduce costs. To achieve long-term success, this report stresses the significance of cutting-edge technologies and dynamic methods. Future studies might look into how AI and IOT may perform together or analyze how supply chain strategies influence the environment.