11 Supply Chain Analytics Software You Must Know in 2024

The success of your manufacturing, retail, or distribution business is closely related to how efficiently your supply chain operates. 

This makes finding the right supply chain analytics software critical for your business growth. Choose the wrong one, and you’ll be wasting your time, resources, and money, of course!

In this blog post, we are bringing you a roundup of the top 10 supply chain analytics software of 2023. From reducing out-of-stock events to increasing your ROI, these tools offer features that fit your business needs. 

Whether you aim to cut excess inventory by half or reduce time spent on forecasting, we have software for every goal. If streamlining your supply chain processes and increasing profits is your mission of the year, then continue reading.

What is Supply Chain Analytics Software?

Supply chain analytics software serves as the operational backbone for your business. It takes in data from various stages of your supply chain, from procurement to production and even sales. With advanced algorithms, the analytics software crunches these numbers to give you actionable insights.

With features like AI-based forecasting, real-time monitoring, and inventory optimization, these tools help businesses make informed decisions. You can meet customer demands and reduce operational costs at the same time. 

Minimize stockouts, forecast demand accurately, and look out for more benefits of supply chain analytics in the next section.

Benefits of Supply Chain Analytics Software

Understanding the impact of supply chain analytics software on your business is key to finding the right supply chain analytics software.

• It helps in proactively maintaining equipment to avoid unplanned downtime, saving both time and money.

• Identifies supplier risks early on, allowing for better contract negotiations or finding alternative sources before an issue arises.

• You can use dynamic pricing to maximise profits by adjusting prices based on real-time data.

• The collaboration features facilitate effortless coordination between different departments and streamline the decision-making process.

• The integration of sales and operational data not only helps meet customer demands but also manages stock levels more efficiently, preventing overstock or stockouts.

Types of Supply Chains

Supply chains can be as diverse as the products they help create and deliver. But you're not here to read an encyclopedia on supply chains; you're here for actionable insights. 

So, we'll focus on the types of supply chains most relevant to businesses in 2023. 

1. Continuous flow supply chain

A continuous flow supply chain keeps going 24/7, like a factory that's always on. It’S important to keep things running smoothly because even a tiny hiccup can cause a big delay. Supply chain analytics software with real-time monitoring tells you how everything's going.

It helps you understand your operations at a granular level, so you can take preemptive action, like scheduling maintenance during off-hours to avoid disruptions.

2. Fast chain

If you are dealing with products that have a short shelf life or are in high demand for a limited time, then fast chain can be good supply chain strategy for you. Products like trending sneakers and seasonal fruits can’t afford delays. 

By analyzing sales data, social signals, and even the weather, your supply chain analytics software can help you predict what’s going to sell like hotcakes. With features like dynamic pricing and demand forecasting, you are always one step ahead.

3. Efficient chain

Efficient Chain is all about minimizing costs and maximizing efficiency. The focus is on bulk items or commoditized goods, like grains, chemicals, or even fuel. With minimal margins, any inefficiency can result in losses. Use supply chain software to keep an eye on transportation costs, storage fees, and even currency fluctuations. It helps you trim the costs where possible, letting you operate lean.

4. Agile supply chain

Agile supply chains are built to respond quickly to market changes and customer demands. Think of high-fashion items or tech gadgets that everyone suddenly wants. When demand increases suddenly, software helps you keep up with the supply chain. It can reroute shipments, reallocate resources, and even suggest alternative suppliers. By staying agile you are meeting every high-velocity change.

5. Custom-configured supply chain`

These supply chains are customized for industries like automotive or electronics, where products have many variations. 

So, your supply chain analytics software should be just as flexible. It should help you manage different product configurations, track individual components, and ensure they all come together perfectly in the final product. 

By analyzing data, the software can even predict which custom options will be most in demand, helping you allocate resources more efficiently.

11 Supply Chain Analytics Software to Increase Efficiency

In this section, we'll go through the top 10 supply chain analytics software of 2023 that can turbocharge your business operations. Each software option comes with its own unique features and benefits. Knowing the ins and outs of these software solutions will help you to make better decisions for your business. 

1. Databrain

Databrain is an embedded analytics software focused on helping businesses gain deeper insights into their data. 

It offers the tools you need to integrate powerful analytics into your existing systems seamlessly. Real-time dashboards, visual analysis capabilities, and automated reporting features help you to monitor various aspects of your supply chain closely. This means you can keep an eye on everything from inventory levels and supplier performance to demand forecasting, all in one place. 

Key features of Databrain:

• Uncover Deeper Insights: This tool lets you effortlessly sift through data layers. You could spot trends or issues you never knew existed, making your decision-making sharper than ever.
• Visual Analysis: The software enables interactive decision-making. You can use various visual data forms to understand your supply chain from multiple angles.
• Streamlined Reporting: Get alerts the moment something changes in your data. You set the reports, and Databrain automates them. This means you're always up-to-date without having to dig through spreadsheets.

• Secure Access Control: One size doesn't fit all regarding data access. Databrain lets you set role-based access controls so the right people see the right metrics.
• Seamless Integration: No more juggling multiple platforms. Databrain integrates with your existing databases and warehouses, making it an extension of what you already use.
• Plug-and-Play Integrations: This feature speeds up your software deployment. You get to use what you need faster, saving both time and resources in the process.

By offering a central hub for all your analytics needs, Databrain makes it easier to build a more efficient, responsive, and cost-effective supply chain.

2. Jedox

Jedox is a robust Sales and Operations Planning (S&OP) solution designed to bring unified planning, forecasting, and analysis across your organization. It helps to integrate sales, operations, and finance, effectively streamlining complex processes and improving collaboration. 

Key features of Jedox:

• Unified S&OP: Say goodbye to manual tasks and data silos. Jedox integrates data sources across departments, simplifying your S&OP processes and freeing up your planners for more strategic tasks.
• Sales & Demand Planning: Jedox offers precise and efficient planning tools. It not only aids in accurate sales planning but also links these with other planning processes like procurement and capacity planning.
• Production and Procurement Planning: It enables precise workforce planning and integrates procurement data for a well-rounded strategy. 
• Automate Reporting and Forecasting: With automated reports and regular forecasting features, you can have more time for crucial analysis.

3. IBM Analytics

IBM Planning Analytics is a data-driven business intelligence platform that facilitates real-time planning, forecasting, and reporting. For those in the supply chain analytics sector, this software offers an integrated solution to make data-driven decisions for optimizing supply chain operations. By leveraging a data fabric architecture, the software unifies disparate data sources, providing a single access point for all relevant information.

Key features of IBM Analytics:

• Real-Time Planning: Enables instant updates and planning adjustments to meet ever-changing supply chain demands.
• Business Analytics Tools: Offers a range of tools to assess performance metrics and KPIs in real-time, leading to better decision-making.
• User-Friendly Interface: Allows for drag-and-drop operations, making it accessible for non-technical staff to interact with complex data sets.
• Multi-Platform Integration: Compatible with various ERP, CRM, and HCM systems, offering a wide range of predefined connectors for better interoperability.

4. Bilytica

Bilytica offers a comprehensive solution for supply chain analytics, featuring real-time KPI monitoring, automated alerts, and advanced forecasting methods. Its platform is especially useful for managing complex logistics and integrating multiple data sources.

Key features of Bilytica:

• Unified View of KPIs: Aggregates key performance indicators for comprehensive supply chain monitoring.
• Automated Alerts: Flags potential issues early, ensuring proactive problem-solving.
• Real-Time Information Sharing: Facilitates dynamic interaction between production planners and suppliers for more effective planning and scheduling.
• Advanced Forecasting Algorithms: Offers flexible, custom-built modeling methods like "Aggressive," "Deterministic," or "Cost Optimization."
• Data Integration: Easily integrates with multiple data sources, combining disparate data into a unified dashboard.

5. Microsoft Azure

Microsoft Azure focuses on transforming any scale of data into actionable insights, leveraging Azure analytics and data governance. Its enterprise-level capabilities include advanced analytics, real-time data processing, and machine learning tools, all fortified with top-tier security and governance features.

Key features of Microsoft Azure:

• Enterprise Data Warehouse: Aggregates data from various sources, offering a unified view for analytics.
• Advanced Analytics: Utilizes best-in-class machine learning tools to turn data into actionable insights.
• Real-Time Analytics: Captures and processes live-streaming data, from IoT devices to website logs, almost instantly.
• Security & Governance: Ensures your data's integrity with top-notch security measures and compliance protocols.
• Cost-Effectiveness: Delivers high-performance analytics solutions without breaking the bank.

6. o9 Supply Chain Analytics

o9 Supply Chain Analytics empowers you to make data-driven supply chain decisions with advanced features like scenario analysis for evaluating multiple options and making consensus decisions. 

Key features of o9 Supply Chain Analytics:

• Scenario Analysis: Evaluate multiple "what-if" scenarios for demand prioritization and supply allocation.
• Digital Twin: Utilize the o9 Enterprise Knowledge Graph to understand inventory influencers.
• Multi-Echelon Inventory Optimization: Optimize material planning and procurement, eliminating value leakage.

7. SAS Supply Chain Intelligence

SAS Supply Chain Intelligence elevates your supply chain with data-driven insights for better demand forecasts and inventory management. It integrates with multiple data sources, allowing you to visualize and share information for more efficient planning and higher profits.

Key features of SAS Supply Chain Intelligence:

• Supply & Demand Planning: Generate weighted consensus forecasts and optimize models considering variables like weather and promotions.
• Plan Effectively: Use time-series forecasting and sophisticated algorithms to adjust strategies for the best outcomes.
• Boost Profitability: Avoid under- or over-stocking by gaining near-real-time insights and using state-of-the-art simulation for inventory management.

8. SAP Integrated Business Planning

SAP Integrated Business Planning for Supply Chain is designed to make your supply chain more sustainable and resilient to disruptions. Powered by SAP HANA, it merges forecasting, supply response, and inventory planning into a cloud-based solution.

Key features of SAP:

• Supply Chain Analytics: Use what-if simulations and alerts to adapt to changes swiftly.
• Advanced Machine Learning: Automated planning capabilities streamline supply chain processes.
• Native Integration: Seamlessly integrates with SAP Supply Chain Control Tower and other solutions.

9. Axway Decision Insight

Axway Decision Insight is your go-to platform for boosting service levels and enhancing customer experiences through data-driven insights. A component of the AMPLIFY hybrid integration platform, it's designed to quicken decision-making for both business and IT teams.

Key features of Axway Decision Insight:

• Analytics Technology: Empowers real-time, smart decision-making through operational intelligence.
• Industry Analytics: Customized dashboards designed for sectors like Banking, Retail, and Manufacturing.
• Embedded Analytics: Comes pre-built with analytics for quick deployment and maximum efficiency.
• Mobile Analytics: Offers real-time monitoring and analytics for native mobile apps.

10. Relex Solutions

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With Relex Solutions, you can elevate your supply chain and retail planning. This comprehensive platform is engineered to align and optimize your demand, merchandising, and operations across the value chain.

Key features of Relex Solutions:

• Demand Planning: Leverage machine learning for accurate demand forecasting and improved planning visibility.
• Merchandising: Boost sales and margins with category management and merchandising optimization tools.
• Supply Chain: Maximize availability while minimizing costs through end-to-end supply chain planning.
• Operations: Optimize inventory, capacity, and resources for streamlined operations.

11. Logility

Logility is a digital supply chain platform designed to help businesses manage complex global supply chains more profitably. By using advanced AI technologies, the platform enables companies to adapt to changing market dynamics rapidly and seize new opportunities. 

Key features of Logility:

• Integrated Business Planning: Comprehensive strategy for managing your entire supply chain.
• DemandAI+: AI-driven demand forecasting to help you prepare for market changes.
• Supply Chain Data Management: Stay up-to-date with real-time, accurate data for making quick business decisions.

Conclusion

As we conclude, we've explored the intricacies of supply chain analytics, delved into various types of supply chains, and looked closely at some of the best supply chain analytics software out there. 

Among all of them, DataBrain stands out as a comprehensive embedded analytics tool that is versatile enough for any supply chain model—lean or agile. With automated reports and easy-to-embed capabilities, DataBrain can give you the competitive edge to stand out in your industry. 

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