Join Wayne Winston for an in-depth discussion in this video On supply chain analytics, part of Wayne Winston on Analytics.
Well, first, we should probably talk about what a supply chain is.…So a supply chain is basically how the stuff…gets from where it's made to where it's going.…So you think about diapers sold at a Walmart.…They are made by P&G somewhere in the United States, I don't know where.…But how do they most efficiently get from where they're made to where they're going?…So how you can make that process more efficient is the supply chain.…So supply chain analytics is using data. To make that process more efficient.…So, let's look at some examples.…So, let's consider the supply chain in the automobile industry.…
So, our car companies have places where they make cars in the United States.…They also have plants where they make components that go…into the cars, like in a radio, an air conditioner compressor.…And basically, if one of those component plants goes down.…And causes the plants that make the cars to go down.…It might cost the auto companies more than $1 million a day.…So you really don't want to see…an unplanned machine failure to component plan.…
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