Logistics has never been more complex than it is today. The global nature of the supply chain has created constantly-shifting dynamics that can significantly impact a company’s profitability. This was made obvious by the incredible strain placed on logistics due to the COVID pandemic. In response, data analytics is helping manufacturers, shippers, and retailers gain visibility into their operations and optimise them so they can better deal with the unexpected. As a result, AWL India is helping businesses to increase profit margins and customer satisfaction levels. AWL India tracks and adjusts to fluctuations in demand in near real-time using the plethora of internal and third-party data access.
AWL India uses data analytics to develop more accurate supply and demand forecasts to improve inventory and logistics planning. As a result, AWL India uses data insights to allow businesses to adapt their operations to unforeseen circumstances more efficiently. The unforeseen circumstances can include a product being out of stock or when shoppers are more likely to change their purchasing habits. According to a survey, 37% of buyers who meet an out-of-stock item will purchase from a different brand, and 21% will buy another product. Overstocking also causes issues. Due to expiry, money is lost due to excessive storage expenses, human expenditures, and product loss. To prevent these challenges, AWL India utilises data to compute logistics lead times for each SKU and establish how long it takes things to arrive at the warehouse after placing a buy order. Combining these lead times with sales data AWL India can aid in determining to reorder points for each item to avoid stockouts.
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