Data-driven procurement is revolutionising supply chain and logistics operations in today’s fast-paced manufacturing landscape. Through advanced analytics, AI and machine learning, businesses can harness the power of data to optimise procurement processes, make informed decisions, and drive innovation in logistics management. In the world driven by data, the manufacturing industry is leveraging the power of information to transform its supply chain and logistics operations. “In the digital age, data is invaluable for success, especially in procurement. Shubhankar Chatterji, Chief Supply Chain Officer at Cummins India, emphasises the importance of data-driven decision-making. It involves collecting, analysing, and leveraging data to make informed choices, particularly in supply chain and logistics operations. Data-driven procurement allows for comprehensive cost analysis across the supply chain, identifying levers for optimisation. Advanced analytics tools evaluate scenarios, aiding sourcing decisions balancing cost, quality, and lead times. Integration of data sources helps identify risks and develop contingency plans. Real-time analytics detect disruptions for timely action, mitigating impacts on production and costs. Additionally, Total Cost of Ownership (TCO) Analysis uncovers spending patterns and costsaving opportunities.”
Leveraging data analytics in procurement offers multiple benefits, including cost savings through improved negotiation with suppliers and inventory optimisation, as well as enhanced efficiency through process streamlining and automation. Advanced technologies like AI and machine learning further optimise procurement by automating routine tasks and analysing large datasets to predict demand and optimize supplier relationships.
ãã®èšäºã¯ Manufacturing Today ã® May 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Manufacturing Today ã® May 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
UltraTech Cement's â¹800 crore investment
UltraTech's board greenlights capacity expansion at the Parli facility by 1.2 million tonnes
Kia honoured for 'Brand Design Language' at 2024 Car Design Awards
Kia introduced its groundbreaking new design philosophy, 'Opposites United.'
The power of data-driven procurement
An insight into the future of data-driven procurements and how businesses are seeking to adopt data-driven approaches in their procurement practices.
Manufacturing's Digital Leap Forward
Post event report of the webinar on Digital Factory Transformation in Manufacturing: Strategies for Success
Elevating brand equity through rigorous system validation
Exploring how System Validation differs from other types of validation in its scope and depth
India's semiconductor ambitions: How to move up the value chain?
With a strong focus on becoming a global semiconductor hub, India aims to establish a robust presence across the chip value chain.
Dubai's manufacturing story
Dubai is set to become trading and smart manufacturing centre despite global challenges
Machining Evolution
Explore the impact of innovative tooling and machining strategies on efficiency and sustainability in auto parts manufacturing.
5G Smart manufacturing in the age of 5G
A review on the transformative potential of smart manufacturing and 5G, exploring its myriad applications and the paradigm shift it brings to the industry.
FORGING SUSTAINABLE SOLUTIONS in the metals industry
Runaya made waves by unveiling its advanced Calcium Aluminate Plant in Jharsuguda, underscoring its commitment to environmental leadership and technological progress in the industry. In conversation with Annanya Agarwal, CEO & Co-Founder, Runaya.