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Applied Analytics in the Warehouse

Applied analytics in the warehouse can make or break successful omnichannel supply chains, and today’s supply chain leaders have taken note of this trend. As found by a recent survey of more than 3,000 business executives (IBM Big Data and Analytics Hub), industry-leading companies are actively using applied analytics in the warehouse to reduce lead times, improve customer service, and lower overhead expenses. Warehouse Managers need to understand the role analytics play and how to put them to work to reduce expenses and increase profitability.

The Problem: Analytics Lack Value in Disparate Systems

Moreover,  , supply chain experts are clamoring over real-time data and insights, which are only possible through applied analytics in the warehouse. This will inevitably drive lean supply chain practices, but analytics are still out of reach for most supply chains. This issue exists around the globe, and many supply chain leaders are struggling with how to implement analytics. The time is ripe for investment, and supply chain leaders must recognize their limitations of siloed systems and business practices before hoping to use applied analytics in the warehouse.

The Solution: Use Applied Analytics for All Operations      

The value of applied analytics in the warehouse is a result of the impact on inbound and outbound freight management. On the inbound side, analytics can be used to improve reverse logistics and vendor management, and for forward logistics, also known as outbound logistics, analytics can streamline order loading, truck docking, and even yard management. The key to successful use of analytics lies in using analytics and collecting data on all activities within a warehouse. Moreover, analytics can help an organization reduce system implementation costs, reports by half, depending on the exact type of system used.

The Reward: How to Make the Most of Analytics in the Warehouse

Warehouse Managers seeking to improve their use of analytics should follow these best practices.

  • Recognize current limitations in the warehouse, as well as other supply chain partners and processes.
  • Bring disparate systems together, reducing inconsistencies and ensuring a comprehensive view of opportunities and issues.
  • Use cloud-based technologies, like software-as-a-service (SaaS) platforms, to break down geographic and cultural barriers.
  • Take advantage of RFID and AIDC technologies to automatically collect information, which may include active RFID too, eliminating the need for a worker to scan an RFID tag.
  • Use wearables to track even more information, like labor productivity and risk.
  • Set realistic metrics and key performance indicators which can be used for performance management.
  • Consider upgrading existing ERP and legacy warehouse systems to those that are designed to work together.
  • Let an outside entity, like a third-party integrator (3PI), assist with implementing applied analytics in the warehouse.

Get Started with Data Integration for Applied Analytics in the Warehouse Now

Any successful analytics program begins and ends with collaboration and integration between systems. Meanwhile, applied analytics requires Warehouse Managers to use information learned to make continuous improvements in all processes.

Veridian can help you realize your supply chain success. Fill out the contact information below in order to schedule a consultation call with one of our supply chain professionals.