Defined:
Tracking and forecasting management within a supply chain often focuses on very complex operations that monitor all processes including: inventory, packaging, picking, replenishment, put-away, shipping and routing operations. Because there are so many different components that go into the logistics of a supply chain, it is imperative to examine each part separately, as well as the effects of each on one another and the supply chain as a whole.

 

Challenges:
With many different manufacturing facilities, parts and products, routes, transports, and resources that vary in their levels of interaction, it is often difficult to track and manage daily operations, let alone accurately forecast and plan for different scenarios in a complex and changing business environment. It can also be very costly, both in regards to time and money, to analyze the system and plan for improvements. Each component of the supply chain must be examined individually in order to make sensible changes to the supply chain as a whole.

 

Solution:
The key to accurately tracking and forecasting the impact variability has on different business processes will be to identify a solution that maintains the relationship between each entity within the supply chain. Maintaining key components while increasing efficiency and forecasting different constraints will help the supply chain run most efficiently and profitably.

What you will learn from this white paper
This white paper, from CreateASoft, on real-time tracking and forecasting will provide you with an understanding of how the supply chain operation can benefit from a dynamic process simulation solution while providing the questions you should be asking every vendor before deciding on a proposed solution.

 

Evaluating Real-Time Visibility & Proactive Forecasting Solutions
There are many features and capabilities to take into account when evaluating an optimization solution for tracking and forecasting purposes. The following are some key aspects that would be required in a robust solution:

 

What should your Real-time Visibility and Forecasting optimization solution be capable of?

• Identifying bottlenecks, areas of congestion and the contributing factors to these problems.
• Recommending inventory and slotting improvements.
• Determining optimal staffing levels and productivity, including the effects of different machinery and technologies.
• Provide analysis and optimization capabilities.
• Identify possible outcomes and how to proceed proactively.
• Generate optimal routes, including the best modes of transportation and timing.
• Present scenario comparison graphs, charts, and data.

What You Need to Know:
The ROI of dynamic simulators far exceeds their implementation cost as they provide optimization of the current state while providing an efficient analysis path for all future changes to the operation. CreateASoft Inc. is the developer of Simcad Pro^® dynamic simulation software and Digital Twin Studio^® real-time dynamic visibility & predictive analytics tool.

 

Advantages and Benefits of a Dynamic Simulation^® Environment:

• No-code model building.
• Real-time connectivity with external data sources.
• Interactive “on-the-fly” model changes.
• Live updates to the web.

 

Consider a solution that allows for:

• Dynamic, “On-The-Fly” Interaction.
• Integrated Scenario Analysis.
• Connectivity to External Live Data.
• Scalability/Expandability.
• Forecasting Based on Past Data.
• No-Code Model Building.