Navigating uncertainty: using data science to achieve supply chain resilience

Supply chains operate in an increasingly uncertain world. We’re using data science and digital twins to help leaders manage uncertainty and ensure value isn’t lost when disruption strikes.

  • By Nourin Zia
  • 5 min read

Today’s supply chain and logistics landscape is increasingly volatile, and even the most strategically designed networks are vulnerable to uncertainty. Resilience remains an industry buzzword, but few supply chain leaders know how to achieve it. Consequently, these networks face the cascade effects of disruption, such as value leakage and customer dissatisfaction.

Our digital twin and data science solutions enable supply chain and logistics leaders to unlock innovation for strategic optimisation initiatives. However, optimisation isn’t just about efficiency: resilient networks are key to future-proofed supply chains. We’re helping our clients make the shift from reactivity to proactivity, enabling probabilistic planning to explore, understand, predict and mitigate disruption damage.

We’re pleased to share that SimPath, our technology for strategic planning, is helping leaders from some of the world’s biggest supply chain and logistics networks to overcome uncertainty.

There is currently no other technology like SimPath on the market that can help supply chain leaders manage uncertainty and combat disruption with real-time actionable insights. Read on to discover some of SimPath’s unique features:

Network structure analysis

Supply chain network structures are made up of interconnected nodes and links. Networks that aren’t optimally designed increase a supply chain’s vulnerability to prediction errors and disruptions.

Using easily accessible supply chain data, SimPath’s interactive visualisation feature delivers highly intuitive insights on vulnerable hubs within the supply chain. These critical points are often the cause of bottlenecks in the network, leading to lost value and poor CX.

SimPath’s structure analysis feature is guiding supply chain leaders on how to optimally design their networks to mitigate disruption impacts, delivering the insights needed for better strategic decision making.

Disruption exploration

The costs of disruption are significant and ever increasing. Uncertainties, like the Red Sea attacks, continue to severely disrupt shipping routes. However, supply chains lose value to smaller, unaccounted for disruptions on a daily basis. Consequently, businesses are seeing their KPIs be damaged and are ultimately losing millions in profit.

Using real-time data, SimPath empowers leaders with the insights needed to manage uncertainty by helping them explore various disruption scenarios within their network structures on a custom, interactive dashboard. The dashboard also reveals potentially serious cascade effects.

With technology enabled probabilistic planning, our clients can introduce network redundancy and reduce their supply chain’s sensitivity to prediction errors. This helps them to deliver exceptional value despite uncertainty.

Uncertainty management

Like resilience, uncertainty management is heavily used within discussions around supply chain optimisation. However, few supply chain leaders know where to start with managing uncertainty, and very few solutions exist on the market.

SimPath’s uncertainty management feature enables interactive exploration of how fill rates and other KPIs are impacted by fluctuations in supply and demand.

This is helping our clients to stop viewing supply and demand as fixed numbers, and enabling probabilistic planning to manage uncertainty. Our strategic planning technology unlocks robust plans that perform well across a range of scenarios, eliminating never-ending plan revisions when new information arises.

The transformative business value of supply chain resilience

Uncertainty is around every corner; supply chain and logistics leaders must be able to make changes fast to stay ahead of the unforeseen. SimPath delivers bespoke, actionable insights that enable strategic decision making to drive quick change - we’re talking days and weeks, rather than months and years.

Technology enabled probabilistic plans ensure KPIs are met across all scenarios and prevent value leakage. By achieving antifragility, you can gain competitive advantage over more fragile supply chains. The ROI of this is significant; previously our solutions have saved our clients over $16 million in just a single application.

Manage uncertainty in your network

Innovative digital twin and data science techniques are critical to managing uncertainty. Supply chains and logistics networks that struggle to deliver on KPIs and CX when the unforeseen occurs are not future-proof.

Interested in how our technology can empower your supply chain with uncertainty management and probabilistic planning? Register your interest in the form below or book a demo to see the transformative value of SimPath for yourself.

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