The role of the supply chain analyst in inventory policy and

forecasting
By the end of this video, you will be able to identify tools and
techniques to analyze supply chain data and drive improvements and
define the role of a supply chain analyst in demand forecasting.
Inventory optimization, and performance measurement.
Let's get started.
Supply chain analysts are the savvy data detectives of the supply chain world.
They unlock the hidden secrets using statistical analysis,
forecasting techniques, and mathematical modeling.
Analysts discover patterns, identify trends and uncover anomalies and
add the necessary context that holds the key to optimizing demand,
inventory, transportation, and supplier performance.
With their analytical prowess and deep domain knowledge, these data inviterers
make informed decisions that unlock the path to supply chain greatness.
Like skilled detectives, supply chain analysts use their analytical abilities to
solve the complex problems of demand forecasting and planning.
This enables organizations to predict future demand, optimize inventory levels,
production schedules, and procurement strategies.
Accurate forecasting helps avoid stockouts and
enhance customer satisfaction while minimizing excess inventory.
In cases where the demand process is handled by another department,
supply chain analysts serve as valuable contributors, providing input and
validating the demand forecast
to ensure alignment with supply chain capabilities.
Supply chain analysts analyze inventory data to adjust and
optimize inventory levels and improve inventory management practices.
Using a toolkit of analytical techniques such as ABC analysis, safety,
stock calculations, and economic order quantity EOQ models,
they navigate the intricate maze of inventory management.
ABC analysis is a technique used to categorize inventory
items into different groups based on their importance and usage.
Typically as A, B, or C items.
Typically, high value items with higher sales volume and
critical importance fall under category A, while moderately important items with
moderate sales volume fall under category B.
Low value items with relatively lower sales volume and
less significance are classified under category C.
Safety stock calculations involve determining the additional inventory
held to safeguard against unexpected fluctuations in demand or
supply disruptions.
Economic order quantity EOQ models are a mathematical formula used to find
the optimal order quantity for inventory items, balancing holding costs,
storage handling and the cost of ordering
too frequently, administrative transportation.
By optimizing inventory organizations can achieve cost savings and
improve operational efficiency.
Supply chain analysts collaborate with stakeholders
across the organization to ensure effective communication and coordination.
Fostering a more efficient and responsive inventory management process that is
constantly under review and continuously meeting the agreed upon standards.
Using data analysis, supply chain analysts monitor a collection of key
performance indicators KPIs to assess the health of the supply chain.
They keep a sharp eye on the timing of on-time deliveries,
the rate of fulfilled orders, the speed of cycle times,
the level of customer satisfaction, and the careful balance of cost metrics.
Through their astute detective work, these analysts identify areas for
improvement and track progress.
Timely and effective communication ensures that the right actions are taken to
address any performance gaps and drive overall supply chain excellence.
And ensures that the systems remain responsive and
adaptable to meet new requirements.
Play video starting at :3:57 and follow transcript3:57
In conclusion the role of a supply chain analyst is vital in driving
operational efficiency, optimizing processes, and
making informed decisions across the supply chain.
Like a skilled detective, supply chain analysts utilize their analytical skills,
data expertise and domain knowledge.
To analyze and interpret data, generate insights, alerts and
provide recommendations that enhance the overall performance of the department.
Their contributions extend beyond data analysis and optimization.
They play a vital role in creating an environment that fosters continuous
improvement throughout the network.
Encouraging teams to challenge existing practices, seek opportunities for
improvement, and implement innovative solutions.