Data analytics

Investment in specific technologies could be the key to future-proofing an organisation’s supply chain. For example, data analytics is widely used by leading supply chain managers to predict future demand, as well as to predict potential future disruptions in the supply chain. If you can see a disruption event coming, your business can be prepared for it.

Too much of construction supply chain management is reactive and based on “what happened last time”. Predictive analytics can allow businesses to make informed decisions about their supply chain risk management on what is likely to happen next time. Depending upon the predictive modelling, a buyer can decide when is the right time to place an order, and from where – the analysis of whether the risk of sourcing a material from a particular jurisdiction is worth the potential cost saving, if the manufacturer might not be able to deliver on time.

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