Lecture 9

Role of Data Analytics in Ocean Shipping

In today's digital age, competition is fierce in a variety of industries, including the maritime industry, and companies are constantly investing in solutions that can help them increase productivity while lowering overall costs. Consequently, the demand for advanced solutions such as marine data analysis is growing at an impressive rate among commercial shippers and other end users. In the shipping industry, big data is used to control sensors on a ship and to perform predictive analysis to avoid delays and improve efficiency. Enhanced decision making through big data analytics is being actively implemented to avoid and predict additional costs and can be used throughout the life of a ship. The Port of Hamburg (Germany), the Port of Cartagena (Colombia), the Port of Rotterdam (the Netherlands) and several ports in Southeast Asia are actively using big data analytics solutions for their port and terminal operations.
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Tech-enabled transformations- Three supply chain success stories

Enterprise-wide platform transformations (EPTs) aren’t easy, but a holistic approach is unlocking manufacturing and supply chain efficiencies while driving sustainable growth and customer satisfaction.
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Supply Chain Reset: A Different Reality Demands a Different Approach

As we move into a post-globalization, post-pandemic world, supply chain reinvention has become essential.As executives prepare for a post-globalization, post-pandemic world, many are coming to grips with one of the most painful lessons of the past several years: Having the best product, technology, sales, marketing, and customer service doesn’t matter much if your company doesn’t have a resilient supply chain.
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A Simpler Way to Modernize Your Supply Chain

Most executives believe that digitizing a major corporation’s supply chain costs tens of millions of dollars. The assumption is that it will be a massive three- to five-year transformation effort—requiring major investments in cloud technology, the installation of RFID tags and readers on every product container and in every facility, the deployment of 3D-printing and robotics technologies, and new instruments on machines on the shop floor to monitor their performance and condition. All that is necessary, the thinking goes, to break down the walls between functional areas and create an integrated supply chain that provides a competitive advantage.

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The Hub-and-Spoke IT Operating Model: Increasing Innovation and Continuous Improvement

What will be the role of IT for the organization in the future?

This question has been a constant concern of IT leaders and is more relevant than ever. Cloud transformation, big data, artificial intelligence, machine learning, cybersecurity – the IT universe is in constant flux. According to ISG Research, most companies believe their IT organizations’ performance is critical to the business’s ability to differentiate from competitors.

Top 10: Supply Chain Optimisation Strategies

Supply chain optimisation has never been more critical in today’s global market. A whopping 83% of businesses are now focused on creating customer-centric supply chains to improve service and offer flexible delivery options. The market, worth US$25.74bn in 2022, is set to skyrocket to US$72.1bn by 2032. Lessons from the pandemic have prompted 75% of professionals to rethink their strategies. AI-powered supply chains are 67% more efficient, with 65% expecting automated decision-making, while 40% have embraced cloud technology
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How Analytics fuelled Zara's fast fashion success

The company’s main target audience is women aged 24 to 35. To effectively engage this demographic, the stores are strategically located in town centers and areas with a high concentration of women within this age range. By producing limited quantities of each design, the company creates a sense of scarcity, prompting customers to make purchases before items sell out. This approach helps the company reduce excess inventory and minimizes the need for large markdowns.

The company achieves 12 inventory turns annually, far exceeding the typical 3 to 4 turns of its competitors. Stores place orders twice a week, directly impacting factory scheduling. These frequent, short-term order cycles result in highly accurate forecasts, significantly outperforming competitors who order less frequently, such as every two weeks or monthly.
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Strategies to mitigate supply chain redundancy

Redundancy is another important strategy to address supply chain risk. In the world of supply chain management, redundancy is not a sign of inefficiency. Instead, it’s a strategic move to ensure business continuity in the face of unexpected disruptions. The recent tsunami in Japan, which caused auto and electronics parts shortages, is a stark reminder of the importance of having redundancy in supply chains. The disruptions rippled through the global auto supply chain given Japan's prominent role. It’s also important to mention that redundancy and nearshoring are not mutually exclusive strategies to mitigate supply chain disruption. Many organizations find that employing both helps limit overall supply chain vulnerability. Nearshoring can bring the goods and services closer to the end customer, which can be complimented with a redundancy plan that provides multiple sources for raw materials and helps safeguard against breaks in a company’s supply chain from unforeseen events.
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