The Innovative Solution Strategy to a True Real-Time, Predictive Digital Supply Chain
In parts 1 and 2 of this blog series, you learned about the role collaborative partnerships play in supply chain planning and execution with real-time visibility and predictive analytics and the benefits of the JDA and TransVoyant partnership. The last part of this blog series will discuss how JDA is delivering an innovative solution strategy to enable a true real-time, predictive digital supply chain.
Real-Time Transportation Data Leads to More Efficient Decision Making
In the first part of this blog series, we discussed the partnership between JDA and TransVoyant and how it delivers value-driven visibility. Through the partnership, which started off with transportation management (TMS), JDA is able to provide value to many different supply chain scenarios through the predictive analytics provided by TransVoyant. These predictive analytics, which are gathered through Big Data sources, allow customers to take immediate action within JDA’s TMS. For example, if a truck in route is expected to experience heavy traffic congestion, an alert generated by TransVoyant’s monitoring a variety of data points will be generated in real-time so that action can be taken to address the issue. Based on this information, the truck may be notified to skip a stop, or alter their route.
Moving from Traditional Demand Management to Demand Sensing Activities
JDA customers have the ability to leverage real-time visibility into social media trends, weather, local events and traffic conditions influencing consumer purchase behaviors, directly within JDA solutions, in order to increase forecast accuracy based on demand sensing signals. For example, a new product could be trending on social media and Google searches in a specific location. Using this insight, the forecast to meet that new product demand is increased in those specific markets. This particular indicator provides more information with real time insights to allow companies to respond to more than just static data, so that forecasting can now be adjusted more accurately based on this information.
Meeting Production Requirements and Promised Orders
Information from digital sources can also be leveraged to meet production requirements and promised orders. For example, if material that’s in transit experiences arrival delays because of severe weather, users are able to monitor digital signals and learn about these issues before it becomes problematic, directly within JDA solutions. However, an arrival delay can create delays in production, which will affect orders that were previously promised. With these insights, the planner can review the network for other suppliers, which while they may have higher costs, will have shorter lead times. This allows production to continue as scheduled, meeting customer demand.
Insights are great, but if you’re not doing anything with them or making educated and prescriptive decisions with the information, then you are missing valuable opportunities. With JDA solutions, you have access to real-time insights, which enable you to take immediate action and make more efficient and effective decisions within your supply chain. Learn more about how JDA can help by contacting us today.