Not all Supply Chain Management tools are created equal
These days, if you’re not looking to enhance your business processes with Big Data, Artificial Intelligence (AI) and Machine Learning (ML), you’re not doing your job.
While rapid digitisation of almost every business operation has brought various SCM tools to market, not all of them are fully leveraging the latest innovations in technology. There are plenty of products that are designed to help you manage your SCM process digitally and can even go as far as making rudimentary forecasts, but a tool that can use AI and ML to make accurate predictions based on huge quantities of hard data, is the key to streamlining operations, minimising waste, maximising resources and boosting profits.
Take a look at this SCM tool comparison table for an at-a-glance understanding of what each tool can do.
QU - a tool for the times
QU is an AI-powered SaaS demand forecasting tool developed to measure, analyse and predict product performance in real time. Hosted on and supported by AWS, QU uses the latest AI technology, proprietary ML algorithms, and innovative design; QU draws on millions of data points from hundreds of sources. It presents powerful insights in an easily-digestible and customisable dashboard that predicts buying behavior and adjusts forecasts of future sales to individual product levels (SKU).
QU is a tool that is designed to empower people, giving them the insight and control they need to do better business.
So if your business is ready to start freeing up resource and firing up profitability…
Spreadsheet, meet AI. AI, meet spreadsheet. It’s no secret that Excel is the tool of choice for most supply and demand management systems. With its easy-to-navigate tabular interface and advanced filtering system, data can be easily selected and collated to make better supply chain and inventory management decisions. Excel is relatively unchallenged in terms of […]
Knowledge is power Supply chains - from the very first step of a product or service development, through sourcing, manufacture, logistics and sale - are a treasure trove of invaluable information. Centralising your processes via a robust, optimised SCM (Supply Chain Management) system is step one in transforming this data into profitability. The next step […]
Big Data. Ignore at your own risk. In the beginning there was the Stone Age, then the Bronze Age and Iron Age. Skip a few millennia and here we are, in the Age of Big Data. As a business tool, the enormous amount of information generated by your business and beyond - along with the […]
Why Optimised SCM matters to literally everyone When it comes to effective Supply Chain Management (SCM), few businesses fully recognise the true competitive edge it can deliver. In the past, the process of micro-managing the flow of goods that turn raw materials into customer-ready products meant slow logistics and increased costs. But today, the reality […]
To buy-back or not to buy-back, that is the question We’ve said it before, but forecasts are almost always wrong. What this means for many businesses is excess stock taking up valuable shelf or floor space. Whatever methods a business chooses to move this stock, the priority should always be to move it. Buy-back is […]
Bringing AI and ML to SCM, CRM and ERP Many businesses and platforms are beginning to understand the value of integrated business operations across SCM, CRM and ERP. Some big technology providers are even crawling towards making it happen. But all of them are missing a trick. The real gold lies in being able to […]
Is something missing from your SCM model? Not all retail businesses have the same type of supply chain. The path to market for a pair of shoes, for example, differs from that of a chocolate bar. So when it comes to ensuring your operations are running as efficiently as possible to meet the true demand […]
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