Using existing data to develop a model of future performance—for individual parts to whole supply chain systems—is one of the most powerful analytical tools at a company’s disposal. But, the sheer volume of data generated in warehouses today means putting predictive analytics into practice is another matter altogether.
In the logistics space, the key to success lies in sourcing a technology supplier that can be integrated into existing warehouse management systems. Then, predictive models can be employed throughout daily operations, whether that’s introducing sensors that detect sortation system malfunctions, using customized analytics to forecast future demand for stock, or something entirely else.
The opportunities are endless, but one thing is clear: a future-focused data-driven approach ensures that firms get ahead of the curve—and the competition, too.