Advanced Analytics Requirement in Inventory Management
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Key Takeaways
⇨ Inventory visibility in itself is not sufficient. Leveraging that visibility for optimal inventory planning is critical.
⇨ Advanced analytics plays an important role in translating visibility into actionable insights.
⇨ SAPinsiders in response to our survey on inventory management and planning, have selected advanced analytics as one of the top three requirements to build robust inventory management and planning capabilities.
SAPinsider will publish a benchmark report on Inventory Management and Optimization in November 2022. There could not have been a better time to conduct research focused only on inventory management and optimization. Why so? Well, the first aspect, which is not surprising to any of us, is the immense focus on supply chain and inventory management that we have seen in the last couple of years. As it applies to critical industries, inventory management is even being discussed in the White House. So that provides an excellent opportunity to explore this topic, to get more insights on this topic for executives so that they can leverage that to harness the energy that has built around transforming inventory management, put it to better use for getting funding, through getting business cases approved and, using that energy positive momentum to transform their inventory management process. In this article, we will discuss why SAPinsiders have chosen advanced analytics as one of the top requirements for building robust inventory management and optimization capabilities.
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