Analytics, a decision support science, has had gradual incremental utility and adoption in recent years. For the organisations embarking on the journey of data enriched decision making, the steps to be followed are:
- Real Time Visualization
- Automated Triggers and Alerts
- Predictive Analytics enabling predictability around a particular decision
- Prescriptive Analytics, a recommendation engine based on AI and other advance technologies
Analytics Advantage (AA) is building a decision support system for Supply-Chain process. Leveraging BCIL’s technology solutions for capturing data at the very edge, AA shall focus its first solution for Apparel Industry, keeping in the mind that Pharma shall be next in line.
Responsible for overall profitability of the apparel line, his foresight about sales needs to be six months out. He needs to react quickly if the reality turns out to be different from projections
A key decision maker to optimize expensive point in any supply chain, dealing with multiple lines, he/she worries about the most optimized use of warehouse space
Another P&L head in the Apparel Supply Chain hierarchy, he keeps worrying about the shelf space, incremental share of wallet of his consumers, customer loyalty and store experience.
Apparel Industry is undergoing tremendous transformation driven by quickly changing customer preferences. For CXOs this means unforgiving decision making. Increased competition and reduced customer loyalty only adds to the madness. To remain on top of their business matrix is the first step to a successful firm.
Business Benefits of AA Solution
Improved Decision Making
- Better Integration of Pre-Season, In-Season, Assortment and Space Planning Activities
- Enhanced Merchandize Planning
- Comprehensive Analytics View
- Interconnecting Merchandising, Warehouse, Store Operations and CXO
- Reduced Markdowns
- Improve Execution Response
- Improve Demand Forecast Accuracy