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Supply chain Optimization

Optimization in Supply Chain Analytics

Around the world, supply chain management is one of the fastest-growing fields with a market value of 17.47 billion U.S. dollars in 2021 and is expected to reach 31 billion U.S. dollars by 2026 with an average growth rate of 20%.

Many challenging problems are needed to be addressed by the companies to bring their growth as fast as the growth in the supply chain management field.

To address the challenging problems in inventory, forecasting, and optimization, every business has to apply predictive and prescriptive data analytics and get the insights to make strategic decisions.

It’s high time for companies to focus on supply chain analytics solutions or look around to get such products that give dynamic solutions.

Many companies started developing products that provide descriptive and predictive analytics. But, only a few of them are addressing the pain points of the supply chain businesses.

Trade Promotion Optimization (TPO) is one of the issues they face.

The theory of trade promotion optimization is perhaps the most important component of a trade promotion system that increases supply chain management efficiency. TPO devises development strategies for businesses and proposes the best promotion plans by analyzing the success of previous promotions based on historical data.

The trade promotion system includes a central planning system that is in charge of creating the best sales and operations plans based on the overall optimal promotion plan. To do this, the central planning system must successfully apply the plan in inventories, logistics, manufacturing, and procurement, among other areas.

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