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Improve Your Supply Chain Performance with Network Analytics

Supply chains can be daunting and ultimately entirely confusing. It is often difficult for a central company to successfully distribute data to every other member of the supply chain. However, what is difficult is not necessarily impossible. Siddharth Taparia suggests that Network Analytics are the key to improving supply chain performance. In today's fast-changing world, speed and quality of analytics matters more than ever. Significant currency swings due to geo-political crisis: demand forecasts affect by the world economy; and supplier-specific challenges due to currency fluctuations, rising local wages, sudden labor strikes, floods, earthquakes and bankruptcies have affected nearly every organization”¦Business network, at its core, addresses collaboration and connectivity with every partner in the network. This ensures that organizations can easily share information with companies in the lower tier of their network. Taparia highlights the fact that advanced analytics can collect key performance information about your suppliers, compare it to similar data among your peers in the industry, and access the information in a way that would benefit your company. With network analytics, according to Taparia, you can home to benchmark and predict supplier performance, maximize margines, and assess future risks within your supply. Keep in mind, such measures involve newer technology such as cloud computing and reject traditional methods such as supplier scorecards. However, if you are willing to implement a more agile supply chain, your performance will surely increase in this world of constant change.  

About Matthew Kabik

Matthew Kabik is the former Editor of Computer Aid's Accelerating IT Success. He worked at Computer Aid, Inc. from 2008 to 2014 in the Harrisburg offices, where he was a copywriter, swordsman, social media consultant, and trainer before moving into editorial.

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