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Category: Analytics

Supply Chain Tech in 2023: Always Moving Forward

Posted on by Imarticus Learning

The supply chain is an intricate and dynamic structure. It is also one of the most crucial aspects of your company, so it pays to keep an eye on how technology is altering it and consider how you may benefit from that information.

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Supply chain technology aims to optimize every supply chain step by utilizing data, analytics, artificial intelligence, blockchain, robots, drones, and other cutting-edge technologies. It involves delivering value to consumers, lowering expenses and risks, boosting productivity and sustainability, and improving communication and transparency.

Additionally, it involves constantly advancing. Because supply chain tech is dynamic, it continually changes and adjusts to new difficulties and chances. It is always trying to innovate and make improvements. And it is constantly prepared for the next disturbance. 

Why is digital transformation important for supply chains in 2023?

The phrase “supply chain tech” is wide and includes all forms of supply chain technology, from production to distribution. Although supply chain technology can increase productivity and cut costs, improper implementation could result in risks. 

Technological developments, shifting customer expectations, and international economic and political trends are anticipated to impact the future of supply chain management significantly.

The analysis projects a compound annual growth rate (CAGR) of 53.2% for the worldwide post-COVID-19 blockchain supply chain industry, from USD 253 million in 2020 to USD 3,272 million in 2026. 

The market’s two main growth drivers are the rising use of blockchain technology in SCM and retail and the expanding need for supply chain transparency. Uncertain regulatory status and standards, however, might limit industry expansion.

Key actions to take in 2023 include:

  • Make supply chain planning capabilities and end-to-end visibility offered by real-time analytics your top technological investments since they may assist you in maintaining operational stability.
  • Improve your teams’ skills and accelerate the development of your data management rules and capabilities to utilize technology for decision-making driven by insights fully.
  • Consider the automation you can use to eliminate redundant manual supply chain tasks, boost productivity, and guard against margin compression and cost hikes. 
  • There is potential to automate laborious tasks, including trade tax computations, FTA compliance, global trade paperwork, reconciliations and settlements, and reporting.

What are the top supply chain trends in 2023?

So what are some of the supply chain predictions for 2023? 

Here are a few examples:

  • Supply Chain as a Service (SCaaS)

Managing every aspect of your supply chain in-house is difficult as value chains get more complicated. Moving from a manual environment to a digital one, utilizing a sizable number of IoT-enabled devices, analyzing data, and maintaining will become vital tasks requiring expert manipulation and upkeep.

Many businesses will outsource these crucial activities because they lack in-house personnel. Better customer service, more productivity, and cheaper expenses are all advantages of SCaaS. Similar services are offered by SCaaS but with added supply chain advantages, including improved asset management.

  • Digital twins

Making judgments based on real-time supply chain data is less appealing when social distance emerges as the new norm. Real-time data from all of the physical fronts of your supply chain is required to combat this to prevent costly interruptions, in addition to tools like prescriptive analytics.

  • Internet of Things (IoT)

The term “Internet of Things” (IoT) for supply chain optimization refers to physical items (or groups of such objects) equipped with sensors, computing power, software, and other technologies that communicate with one another and exchange data through the Internet or other communications networks. The term “Internet of Things” has been criticized because gadgets only need to be individually accessed and connected to a network, not the public Internet.

The discipline has changed due to the confluence of several technologies, including machine learning, ubiquitous computing, inexpensive sensors, and increasingly potent embedded systems. 

  • Blockchain

It makes it logical to respond to the desire for greater supply chain visibility as blockchain usage grows. The blockchain’s end-to-end transparency can benefit supply chains thanks to its database structure. What is blockchain, precisely, before we continue?

Blockchain uses “blocks” of data rather than the tables used by traditional databases to store information. As data comes in, new blocks are created and chained to the older ones as these storage blocks eventually reach their capacities. These blocks provide immutable records with precise time stamps that offer users vital insight into their transactions. 

  • 3D printing

3D printable models may be produced using a CAD program, a 3D scanner, a regular digital camera, and photogrammetry software. Compared to other techniques, CAD-made 3D printed models have comparatively fewer mistakes. Before printing, mistakes in 3D printable models may be found and fixed. Similar to plastic arts like sculpting, the manual modeling technique of creating geometric data for 3D computer graphics. 3D scanning is gathering digital information about an object’s form and appearance to build a digital model based on it.

The Final Words

The environment of supply chain technologies is continually changing. New technologies are created and used daily to help organizations increase production and efficiency. In 2023, several emerging technologies will significantly affect how you do business.

Although digital supply chain transformation has advanced for many years, there is still room for advancement. New technologies will increase over the coming years, enabling your business to reach its objectives more quickly.

With the cutting-edge curriculum from Imarticus Learning, created in partnership with the prestigious CEC at IIT Roorkee, you may improve your knowledge in supply chain management. This innovative training will provide you with crucial analytics abilities to make decisions based on data and use Python to advance your SCM expertise.

In addition to gaining priceless information, you’ll have the chance to distinguish yourself in the crowded job market with an IIT Roorkee-endorsed certification, which will attest to your command of SCM and dedication to career advancement. 

Unlock your potential in the field of supply chain management!

Best Practices For Visualising Data with Python

Posted on by Imarticus Learning

In the era of globalisation, a lot of data is produced daily. However, analysing and extracting information from raw data can be very challenging. Data visualisation with Python is a way to overcome this hurdle. 

become a Data Analyst

Data visualisation is a process that makes it easier to analyse, comprehend and observe the data by providing a better and more representative depiction of the data. It means the process of transforming complex data into easily understandable visual representations. Data visualisation helps in analysing specific trends and patterns for overcoming challenging situations.  

Read along to know the multiple best practices when using Python to visualise data.

7 best practices through which data can be visualised with Python

No matter how necessary it is to create visualisations of complex data, there are some points that one should always keep in mind. Here are some of the best practices one cannot miss out on when visualising data with Python.

Select a suitable tool for data visualisation

Choosing the right tools after establishing the objectives of visualisation is important. There are several code libraries and no-code platforms that help in presenting data in a user-friendly format. 

The most common and popular low-code data visualisation tools are Tableau, and Power BI. Tableau is a popular visual analytics platform that allows the designing of representative charts, graphs and dashboards. Power BI is a business intelligence platform enabling users to create multiple interactive representations. 

If you’re directly working with Python code, ‘Jupyter Notebook’ might be the best tool for you.

Cleanse the data properly

Cleaning and processing the data is an integral step as it frees it from anomalies. However, many things are done to make the data error-free, such as standardising it, removing missing or duplicate figures, deleting unpaired data etc.

Let’s say that you have a table consisting of ‘date’, ‘products’, ‘product_id’, ‘number of units sold’ and the ‘name’ of the person who bought the product. You’re analysing the sales on a particular date. You can go ahead and remove the ‘name’ category, as it does not correlate to the outcome you’re trying to achieve through your analysis.

Choose the right visualisation type

One of the most important aspects of data visualisation is choosing the right chart or graph to represent your data. Python has many libraries like Matplotlib, Seaborn, and Plotly that provide a wide variety of chart types to choose from. Choose the one that best represents the data you are trying to convey.

The most used and easily readable type of data visualisation can be in the form of pie charts, line graphs, bar graphs, heatmaps and so on. The linear regression technique is best suited when you want to represent the data consisting of two continuous variables.

Employ brief titles and labels

The visualisation should have proper titles and labels that make the data easier to understand. Make sure to label your charts and graphs clearly so that your audience can understand what they are looking at. Using titles, axis labels, and legends makes data more accessible.

Try to make the visualisation more interactive

Python visualisation libraries like Plotly allow you to create interactive charts and graphs that can be more engaging for your audience. Consider adding interactive elements like hover-over text or clickable buttons to make your visualisation more engaging.

Consider using other interactive elements like sliders, dropdown menus, or zooming features. These can make your visualisation more dynamic and allow the audience to explore the data in more detail. 

Make use of annotations

Annotations can be a powerful way to draw attention to specific parts of your visualisation. Use them to highlight important data points, provide additional context, or explain unusual or unexpected trends. Using clear and concise language in your annotations is a must, along with placing them in a way that does not clutter the visualisation.

Test your visualisation

In the process of creating data visualisation with Python, it is important to adopt an iterative approach that involves testing the visualisation as you go along. To refine your visualisation, use tools like Jupyter Notebook or Spyder to explore and manipulate the data in minute detail.

Once you have created your visualisation, it is important to thoroughly test it to identify potential issues or errors. This might involve checking the data for outliers, ensuring that the visualisation accurately represents the data, and making sure that any labels or annotations are clear and accurate.

Conclusion

The need for data visualisation can never be overlooked. Python is widely used for data visualisation in data science and machine learning fields. A data science course with job interview guarantee can help you understand the concepts of data visualisation with Python in the best way. 

Python contains numerous data visualisation libraries that you can choose from depending on the requirements of your project. A postgraduate degree in data analytics can arm you with the requisite knowledge. Register for the Postgraduate Program In Data Science And Analytics by Imarticus and enrich your knowledge to lead a successful professional life in this field.

A Guide To Effective Supply Chain Network Design

Posted on by Imarticus Learning

Introduction

Let us start by explaining What Is Supply Chain Management? In simple words, supply chain management overlooks the entire flow of products, data, and finances related to any service or goods. The supply chain management is responsible for the procurement of raw materials up till the delivery of the final product to its destination.

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Supply Chain Network Design as a whole is the strategic planning of the supply chain operations that ensure long-term benefits. It involves measuring cost, time, location, production facilities, logistics, and the best mix of suppliers, for optimum product manufacturing and distribution. Furthermore, Supply Chain Network Design also takes into account the sources to procure raw materials, transportation of finished products, storage, warehousing, and ways for delivering goods to consumers.

Supply Chain Network Design, thus is a complex and ever-evolving process that uses mathematical models, algorithms, linear programming, and other software to create supply networks for any enterprise and ways to optimise them.

Key Benefits of Effective Supply Chain Network Design

An effective supply chain network design helps a company or an enterprise in visualising and planning their supply chains to derive the maximum profit. It plays a key role in reducing overall costs, reducing risk, enhancing service, and delivering speed-to-market. Below is a list of the key benefits:

Identifying parts that are potential cost savers

Reduction in inventories and purchase costs

Reduction in transport costs

Reduction in both fixed costs (equipment, facilities) and variable costs (labour, handling charges)

Discerning routes for reducing fuel costs and transit time

Optimisation of services, delivery dates, and customer satisfaction

Transparency in the overall process and cost across the supply chain network

Providing opportunities for the performance of the overall supply chain network by evaluating the costs incurred against set benchmarks

Factors that ensure an effective Supply Chain Network Design

As an organisation, you must focus on the planning of the following key areas to build a strong and effective network design in the supply chain:

Gather supporting data

To design an effective supply chain network you need fool-proof data to back up the decisions. This is one of the most crucial and time-consuming parts of the design process. However, the good news is that a lot of details and data can be obtained from the company’s ERP or legacy system. Some intricacies of the data include the type and quality of raw material, source of raw material, warehousing cost, transport container type, transport cost, and inventory cost.

Procurement costs and processes

The cost of the entire process needs to be carefully analysed. This includes the source to procure raw materials, time, distance, location, and shipping method. Other typical information like capacity, flexibility, and lead time must be finalised. Furthermore, the number of manufacturers and suppliers also needs to be identified.

Logistics and transportation

One of the key aspects of effective planning includes transporting raw materials and delivering finished goods. The planning must include route scheduling, optimising logistics, and ensuring timely and systematic transportation of products or goods. This operational procedure determines the smooth functioning of the entire supply chain process.

Inventory management and planning

This is one of the trickiest factors in managing an effective Supply Chain Network Design. The ideal inventory level needs to be identified that will be transported and stored. Also, the response time to fulfil the demand for goods needs to be chalked out.

Placement of warehouses and distribution centres

Supply chain nodes must be defined accordingly for accurate locations. This also includes finalising the optimum number of distribution centres and warehouses that will assist a strong supply chain network.

Implement and refine

The design of the supply chain network is an ongoing process. It needs to be implemented, analysed, and adjusted to changes for increased cost savings. Changes like a large and new customer base, new location, increased demand, increased production capacity, or a swing in prices of raw materials must be considered. Thus, like all efficient planning processes, supply chain network design should be revisited regularly.

Carve A Path-breaking Career In Digital Supply Chain Management with Imarticus Learning

Supply chain management (SCM), review, and design are gaining a lot of traction. To effectively cope with the challenges and rapid changes in this sector, enterprises globally are looking for experts and Supply Chain Management professionals. Imarticus Learning brings an innovative digital Supply Chain Management Course that is backed by IIT Guwahati. This course is designed to teach What Is Supply Chain Management, design modules, modern digital SCM, defining the models of the supply chain, and so much more! Not only that, but through this Supply Chain Management Course learners will get hands-on experience and exposure to managing real-world business operations through case studies.

Wrapping Up

The supply chain network design segment is emerging as a tremendous career growth that comes with ample job opportunities to drive professionals to enter big companies. Sign up for Supply Chain Management Course to learn skills of higher management levels and reap monetary benefits as you contribute massively to your organisation.

Why Geeta University’s BBA Course Is A Smart Choice For Aspiring Business Professionals

Posted on by Imarticus Learning

BBA course for business professionals

Geeta University offers a BBA course for business professionals looking to further their education and advance their careers. The course is designed to teach students the fundamentals of business management and equip them with practical skills that they can apply in real-world settings.

The curriculum is focused on business analytics, a fast-growing subject in the digital world. It will enable you to tap into the data results of any industry and gain valuable insights. This way, you can help isolate, brainstorm and solve problems easily.

In addition to classroom lectures, students will also participate in case studies, simulations, and other hands-on learning activities. This helps to ensure that they are well-prepared to face the challenges of the business world.

Furthermore, the BBA course by Geeta University is taught by experienced faculty members who have a proven track record of success in the industry. They bring their practical knowledge and expertise to the classroom, helping students to gain a better understanding of the real-world implications of the concepts they are learning.

Upon completing the BBA course, students will have a solid foundation in business management and be well-prepared for a wide range of career opportunities. They may choose to pursue roles such as marketing manager, financial analyst, operations manager, or human resources specialist.

Features of The BBA Course By Geeta University

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If you want to make it big in the world of business, then you should consider enrolling in BBA Course by Geeta University. This degree programme is designed to prepare you for a career in the business world and to equip you with the skills and knowledge necessary to succeed. In this article, we will explore the reasons why BBA Course by Geeta University is a smart choice for aspiring business professionals.

A Comprehensive Curriculum

The BBA course for business professionals is designed to provide students with a complete understanding of the various business aspects. It covers topics like accounting, finance, marketing, management, operations, and more. This means that you will have a well-rounded education and be prepared to tackle any challenges that come your way.

Wide Range of Job Opportunities

A BBA degree opens up a wide range of job opportunities in the business world. Graduates can work in finance, marketing, management, consulting, and many other fields. This degree will help you climb the corporate ladder quickly.

Practical Experience

The BBA course for business professionals usually includes practical experience in the form of internships or co-op placements. This allows students to apply the skills and knowledge they have learned in the classroom to real-life situations. This practical experience is invaluable and will give you an edge over other candidates regarding getting a job.

Networking Opportunities

BBA Course by Geeta University provides excellent networking opportunities. You will be surrounded by like-minded individuals who are also aspiring business professionals. You can build relationships with your classmates, professors, and alumni, which will help you later in your career.

High Earning Potential

Finally, the BBA Course by Geeta University can lead to a better-earning potential. Business professionals earn some of the highest salaries in any industry, and a BBA degree is a great way to start your career on the right foot.

You can navigate the business world better and make the right moves in your career. Enrol in the BBA course by Geeta University right away! Applications are currently open!

In a Nutshell

The BBA course by Geeta University is in collaboration with Imarticus Learning.

The comprehensive programme prepares students for various management roles in the industry. The course curriculum is designed to provide students with a strong foundation in business and management principles, communication skills, and leadership abilities. The faculty at Geeta University is highly experienced and offers personalised attention to each student’s needs.

If you’re a young professional looking to enhance your skills and knowledge in the field of business management, then you should consider enrolling in this course by Imarticus Learning. Imarticus Learning is a leading platform that offers a wide range of learning programmes for young professionals. With its industry-relevant curriculum, experienced faculty, and cutting-edge technology, Imarticus Learning has established itself as a go-to platform for anyone looking to excel in their career.

So don’t wait any longer, enrol in the BBA programme and take the first step towards a successful career in business management!

What is Risk Analytics? How can Big Data Help?

Posted on by Imarticus Learning

Risk Analytics is the measures used by companies to make accurate risk predictions and manage them accordingly. Governments, nonprofits, and corporations all perform risk analytics to identify potential risks that could affect the organisation negatively. And with the help of Big Data, organisations can make more accurate predictions and increase the security of the company. 

Any functioning organisation has to face various amounts of risks and threats when it comes to its operations. But data-driven risk analytics and management techniques can help them recognise and anticipate these threats beforehand. This way, the company can take precautionary measures to avoid any potential problems. In this article, we will explain why big data is important in risk analytics.

What is Risk Analytics? 

Risk analytics is performed by professionals to assess the risk factors a decision might present in the future. For better understanding, let us assume that an organisation is going to approve a large financial application. This is obviously something that can prove to be risky in the future. With the help of risk analytics and prediction tools, the company can accurately forecast the risks of the project and take adequate steps to minimise the threat. 

The job of a risk analyst is very important and they begin the process by identifying what could go wrong if the company undertakes a certain project. A probability metric is then brought in to see the chances of the event ever taking place. After that, a risk analyst predicts the extent of damage that can be caused by the event and what steps the organisation can take to prevent it from happening, minimising the risk factor. 

There are many types of risk analysis and they all have their uses in organisations. The process of risk analysis starts with identifying the risk factors and ends with implementing the necessary solutions needed to stop it. 

Why is Risk Analytics Important? 

Risk management is one of the most important aspects of any organisation. Even though it is only a probabilistic measure that may never materialise in the future, companies should rather be safe and sorry. That is why large organisations have a team of risk analysts that can identify weak points and fix them before the threat becomes a reality. 

Companies need to make informed decisions before undertaking any new projects and risk analysis can help them do just that. It is crucial for organisations to understand risks so that they can avoid future losses. 

Sometimes if the risk factor appears to be too much, companies might drop the project altogether. Other times, they will take precautionary measures to avoid financial loss. Bad financial choices might prove to be catastrophic for companies. They can avoid such events with the help of risk analytics. 

What is the Role of Big Data in Risk Analytics? 

Now for the important question, what is the role of big data in all of this? Well, the answer is pretty simple, big data analysis can lighten the pressure of decision-making by providing data-driven reports that are more accurate. 

With the rise of cybercrime and other risk factors that can potentially harm a business, it is now more important than ever to assess a situation and make accurate predictions before making a decision. If a company wants to avoid financial harm, it will have to use big data to analyse risks as it minimises the chances of miscalculation. 

Small and large businesses alike need a risk management strategy to keep their business afloat and avoid any losses in the future. If they leverage data from various sources to gain information about potential risk factors, the predictions will become more accurate. Accurate data can help companies be more insightful about their risks so that they can avoid unfortunate situations in the near future. 

But it is also important for organisations to manage and review their data correctly for the predictions to be accurate. Every decision in a business involves some amount of risk. But with the rise of tools like big data, machine learning and artificial intelligence, risk analysts can minimise these potential threats so that a company can make informed decisions that will be profitable for the business. 

If you want to learn more about the role of big data and how to use it in risk management, you can join an online business analytics course. This can help you learn more about risk analysis and how you can make safer decisions for a business. 

Conclusion

Privacy and security breaches have become a big concern for companies in recent years. Not only does it lead to potential loss of finances but can also jeopardise the trust between an organisation and its customers. Risk management is always based on probability, and can produce results that may not prove to be accurate. But it minimises the chances of financial crisis exponentially. This is why most organisations nowadays use big data risk analysis for the security of their company. 

If you want to learn risk analysis and business analysis with the help of a business analytics course, then the Imarticus Learning and Geeta University BBA in Business Analytics course is perfect for you. This full BBA course offers students the chance to learn with the help of world-class faculty and a cutting-edge curriculum. It is a full-time course taking place on campus and can help students build their careers in business analytics with the help of the state-of-the-art program. 

Microsoft Power BI: The Ultimate Tool for Business Analytics and Intelligence

Posted on by Imarticus Learning

Data analytics is growing, and the demand for professionals with expertise is at an all-time high. A career in data analytics is lucrative and provides opportunities to make a real impact on organizations by helping them gain insights from their data. 

One of the key tools used in this field is Microsoft Power BI, which has become the go-to business analytics and intelligence tool. 

In this blog, we’ll explore why Power BI is the ultimate tool for this growing field and how it can help you kickstart or enhance your career in data analytics. 

What Is Power BI?

Microsoft’s Power BI is a service for business analytics that offers interactive visualizations and business intelligence capabilities with a simple interface for users to build their dashboards and reports.

Excel spreadsheets, SQL databases, CSV files, and other data sources can all be integrated with Power BI. 

It also offers APIs for integrating with Python and other programmes and platforms. Thanks to Python integration, users can perform data analysis, transformations, and visualisations using Python scripts within Power BI.

Advantages of Utilising Power BI for Your Business Analytics Needs

Here are some reasons why you might consider using Power BI:

  • Data visualisation: Power BI offers a variety of data visualisation options, such as bar charts, pie charts, line graphs, and more, making it simple to present data.
  • Integration with other data sources: Data from various sources are combinable into a single repository thanks to Power BI’s integration with Excel, CSV files, and databases.
  • User-friendly interface: Power BI is accessible to many users thanks to its user-friendly interface, which enables even non-technical users to create and customise their reports and dashboards.
  • Real-time updates: Real-time data updates from Power BI provide information essential for making wise business decisions.

Common Applications of Power BI in Business and Industry

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Power BI is a business intelligence and data visualisation tool developed by Microsoft. Organisations use it to analyse, visualise and share data insights with stakeholders. 

Some everyday use cases for Power BI are:

Data Visualisation: It offers a variety of interactive visualisations, including charts, graphs, maps, and dashboards, to assist businesses in presenting data.

Data Insights: It offers sophisticated analytics features to assist businesses in deriving value from their data, including data exploration, modelling, and data insights generation.

Report Creation: Power BI is a well-liked tool for report creation and data storytelling because it enables users to create reports based on data from various sources, such as Excel spreadsheets, SQL databases, and cloud-based data sources.

Collaboration: Organisations can collaborate on data analysis projects using Power BI’s cloud-based platform for sharing data insights and reports with stakeholders.

User Base of Power BI in Different Industries

Power BI is used by many organisations, from small businesses to large enterprises. Some of the industries that use Power BI include:

  • Healthcare: Power BI is used by healthcare organisations to analyse patient data, track clinical outcomes, and check the performance of healthcare facilities.
  • Retail: Retailers use Power BI to track sales and customer behaviour, track supply chain performance, and analyse market trends.
  • Manufacturing: Manufacturers use Power BI to track supply chain effectiveness, track production performance, and study market trends.
  • Education: Power BI is used in educational institutions to monitor faculty productivity, track student performance, and test research findings.

Notable Features of Power BI

Power BI is a powerful business intelligence and data visualisation tool that provides a range of features to help organisations analyse, visualise, and share data insights. 

Some key features of Power BI include:

Data Connectivity

Power BI makes it simple to import and analyse data from various sources by allowing you to connect to a wide range of data sources, including cloud-based data sources, on-premises databases, and Excel spreadsheets.

Data Visualisation

Power BI provides a wide range of interactive visualisations, such as charts, graphs, maps, and dashboards, to help you present data meaningfully.

Data Insights

To help you understand your data and make wise decisions, Power BI offers advanced analytics features like data exploration, modeling, and data insights generation.

Report Creation

Power BI allows you to create reports based on data from many sources, including Excel spreadsheets, SQL databases, and cloud-based data sources, making it a popular tool for report creation and data storytelling.

Collaboration 

You can collaborate on data analysis projects using Power BI’s cloud-based platform for sharing data insights and reports with stakeholders. 

Real-time Data

You can build real-time, interactive dashboards with Power BI that give decision-makers access to key performance indicators, data insights, and other crucial pieces of information.

AI Insights

With the help of features like automated insights, natural language queries, and predictive analytics, Power BI enables you to take advantage of machine learning and artificial intelligence to extract insights from your data.

Popular BI Components

Power BI is a business intelligence and data visualisation tool that provides various components to help users turn data into insights and make informed decisions. 

Some of the main components of Power BI include:

Power BI Desktop: A Windows-based desktop application that provides advanced data modelling and visualisation capabilities.

Power BI Report Server: An on-premises report server that enables organisations to share Power BI reports within their organisation.

Power BI Service: A cloud-based service that allows users to access and share Power BI reports and dashboards from anywhere with an internet connection.

Power BI Report: A visual representation of data that can include charts, tables, and graphs.

Conclusion

Power BI is an influential tool organisations use to analyse, visualise, and share data insights. Its wide range of features and ability to connect to many data sources make it a popular choice for organisations looking to gain insights from their data.

If you want to learn more about power BI and Analytics, consider Imarticus Learning’s Postgraduate Program In Data Science And Analytics course.  

This comprehensive data science course with placement offers hands-on experience with real-world data and covers the latest tools and techniques in data analytics. 

The program is designed for professionals looking to develop their skills in data analytics. It provides a data analytics certification course to give you a competitive edge in the job market. 

Whether you’re looking to learn data analytics for personal or professional reasons, Imarticus Learning’s Postgraduate Program In Data Science And Analytics course is a great place to start.

Supply Chain Management 101: Roles, Objectives and Keys to Success

Posted on by Imarticus Learning

Supply Chain Management (SCM) connects the manufacturers to their customers. It ensures the balance of demand and supply, inventory management and streamlining the sales and operation planning process.

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Thus, monitoring and maintaining these processes is essential for the smooth functioning of an economy. Supply chain management is a dynamic field that calls for multifaceted, versatile individuals with a strong knack for logistics. 

Want to learn about the roles and objectives of supply chain management? Read on to find out!

Aims of Supply Chain Management

The main goals of SCM are:

  • Making operations and production systems efficient

Knowledge of supply chain management enables the streamlining of business operations. It involves organising the production end and making effective distribution and supply strategies.

  • Monitoring and fine-tuning quality control

Supply Chain Managers are responsible for ensuring that the quality of the product meets industry standards. They are also responsible for formulating operations protocols. Incorporating sustainable and ethical practices while following safety guidelines is one of the primary objectives of SCM. Real-time tracking of product quality helps detect and remedy manufacturing errors promptly.

  • Improving logistics

Bolstering logistics is critical to improving sales and production. Supply chain management aims to automate repeated processes such as placing orders for raw materials, tracking market rates, estimating demand and business costs, and generating operations reports. Efficient scheduling enables maximum productivity and utilisation of raw materials and human resources. A robust supply chain bridges the gap between manufacturers, wholesalers, retailers and customers.

  • Controlling wastage and costs

Reducing expenses on raw materials and overheads is the primary goal for any company. It calls for a reduction in waste generation and the implementation of best practices. The supply chain should aim to be sustainable and minimise costs to maintain a healthy profit margin. Shortening the holding period of products and materials enables the seamless flow of goods from manufacturer to consumer.

  • Improving customer satisfaction

Pricing and delivery are two things a customer considers while purchasing a product. Applying supply chain management techniques ensures the continued availability of goods and heightens customer satisfaction. Selling products at the lowest possible price while maintaining profit margins aids customer retention.

  • Facilitating proper transport and distribution of goods

Transport and delivery are crucial supply chain components. Streamlining transport cuts down overheads and guarantees swift delivery of goods to clients. Automating inventory and distribution processes enhances the efficiency of supply operations and ensures the timely meeting of delivery deadlines.

  • Aiding sales and operation planning

Understanding demand and supply dynamics helps coordinate sales and production. Adjusting the supply chain operations to adapt to market trends in real-time ensures the company’s longevity in a volatile economy.

What is the Role of a Supply Chain Manager?

Supply Chain Managers lie at the heart of the operations of a business. Their role is often collaborative and requires the cooperation of different departments within an organisation. 

The chief responsibilities of a Supply Chain Manager fall under five headings.

Planning

  • Preparing blueprints for the supply chain structure of a company
  • Forecasting market demand
  • Calculating material and production costs
  • Estimating and managing risks factors

Sourcing and Procurement

  • Scouting vendors for raw materials
  • Purchasing quality materials at fair prices
  • Ensuring proper transport of materials

Storage and Documentation

  • Maintaining inventory logs
  • Implementing effective warehousing procedures
  • Incorporating digital and automated solutions to the documentation of sales and operations data

Production and Operations

  • Setting proper manufacturing and operations protocols
  • Using new-age technology to improve production practices
  • Enforcing best practices and following industry standards
  • Identifying faults in the supply chain and coming up with solutions to fix them
  • Reducing wastage and applying sustainable solutions to the production process
  • Monitoring logistics and productivity

Sales and Supply

  • Working with clients and setting realistic timelines for the delivery of products
  • Ensuring the sale of the products at competitive market prices
  • Tracking shipping and delivery of products
  • Staying up-to-date with market prices to ensure maximum profit generation
  • Improving the quality of products and customer service to ensure customer retention

SCM: Keys to Success

In addition to theoretical knowledge of SCM, several factors influence the success of the supply chain. Learning to use these factors to one’s advantage distinguishes a company from its competitors.

Some of these factors include:

  • Establishing a network with industry professionals
  • Improving the flow of transactional data throughout the supply chain system
  • Applying new-age technologies and data analytics to business operations
  • Knowing when and how to delegate and outsource work
  • Creating strategic backup plans to prepare for unforeseen circumstances

Conclusion

SCM is essential for connecting product manufacturers with customers who need them. Supply Chain Managers are necessary to increase the company’s competitiveness in the ever-changing economy. 

Are you looking for a supply chain analytics course? Start a career in supply chain management with the Professional Certification in Supply Chain Management & Analytics by Imarticus Learning, offered in collaboration with IIT Roorkee. This IIT supply chain management course equips you with analytics know-how and in-demand SCM skills and gets you job-ready.

Digital Supply Chain Management Explained

Posted on by Imarticus Learning

Global supply chains encompass everything from procuring raw materials to delivering goods directly to customers. However, because of their intricate structure, each connection in the supply chain needs to work in tandem for goods to arrive on time. 

Digital supply chains can help with the process. They use data analytics to ensure logistics professionals can access actionable information to effectively organise, and manage supply chains. 

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Digital supply chains use digital technologies to gather large amounts of data each process step produces. 

In this article, we will talk in-depth about everything you need to know to build a successful career in supply chain management.

What is a digital supply chain?

A digital supply chain is a system in which every link in the network has electronic technology applied to it.

The entire process, from manufacturing to transportation to distribution, must be digitised from beginning to end. 

Real-time tracking of the flow of items for proper end-to-end connectivity is made possible by integrating electronic sensors and tracking features. This offers total transparency and visibility in each step of the entire supply chain process.

The most complex supply chains can be optimised, and their processes improved with a digital supply chain.

The digital supply chain aims to provide insights to boost efficiency, eliminate waste, and increase profits. 

With proper demand planning, businesses will be able to anticipate risks in transportation and manufacturing. Businesses with a digital supply chain have a greater capacity to move resources, assets, workers, and goods to the necessary location at any given time. 

A fully operational digital supply chain might result in savings across the board, from labour, funds, and assets to a less environmental impact.

A digital supply chain should ideally have processes that track inventory levels, customer product interactions, carrier locations, and equipment in real time and use this data to assist in planning and executing optimising performance. 

Traditional supply chain vs digital supply chain

The continuous progression of goods and services, from the procurement of materials through manufacturing, distribution, and finally to the point of sale, is the basis of traditional supply chains. 

Unfortunately, delays at one point can lead to expensive delays at another since each stage of the supply chain depends on the one that comes before it. Each phase entails a planning and assessment process that can easily fly off track. 

Digital supply chains employ the data generated at each stage of the supply chain to plan efficiently and provide flexible solutions in the event of unanticipated holdups. 

Digital supply chains are empowered by a stream of big real-time data that enables more efficiently managed logistics and transportation. In contrast, a lack of useful data frequently hogs traditional supply chains. 

Benefits of a digital supply chain 

Thanks to digital supply chains, logistics specialists have more influence over how they plan, direct, and arrange each step of the manufacturing and delivery process. Just a few advantages of a digital supply chain are listed here: 

  • Enhanced personalisation: Logistics providers can now segment customers more precisely courtesy of digital supply chains. Customers can choose delivery alternates that suit them better as a consequence.
  • Greater flexibility: Digital supply networks give logistics experts access to real-time updates to help them plan and reroute more effectively. It eliminates the waiting time reporting delays, which can take hours, days, or weeks to be reported via traditional supply chains.
  • Better planning: Logistics experts can use predictive analytics to build more precise forecasting models. These can be used to do proper demand planning, which helps businesses plan the entire supply chain.
  • More reliable: Digital supply chain management will guarantee real-time, end-to-end transparency across the whole distribution process using precisely accurate data. 

Risks in digital supply chain management 

The Internet of Things (IoT) security issues are one of the first things that come to mind when assessing the possible threats connected to digital supply chains. 

Your supply chain risk management programme should prioritise supply chain security. IoT sensors can monitor things like a machine’s temperature, its geographical location, or how much energy it uses. 

Accurate monitoring enables maintenance crews to address any problems before they become significant because an increase in these elements could result in a malfunction or failure.

Career opportunities in digital supply chain management 

Due to the supply chains’ digital development, experts in the industry now have an array of duties. Among the most popular professions are:  

  • Supply Chain Analyst
  • Supply Chain Engineer 
  • Business Analyst
  • Supply Chain Manager

Conclusion 

Supply chain management successfully uses logistics and supply chain-related procedures when building the operational framework for strategically performing logistics. 

On the contrary, digital supply chain management focuses on utilising technology to estimate demand and optimise inventory allocation using predictive analytics.

If you want to pursue a career in digital supply chain management, Imarticus’s Digital Supply Chain Management course is right programme for you. The course has been designed in association with IIT Guwahati. Taught by experienced professionals, it will help you get a headstart in your career. 

Visit their website to learn more about the course.  

A Comprehensive Guide to Data Analytics Certification

Posted on by Imarticus Learning

Data analytics is becoming increasingly important across industries in today’s data-driven world. With massive amounts of data being generated daily, extracting meaningful insights from this data has become a critical skill for professionals across a wide range of industries.

Data analytics can provide valuable insights into customer behaviour, market trends, and operational efficiency, allowing businesses to make better decisions and increase profits. With businesses moving increasingly online, there is a growing demand for professionals with data analytical skills. Hence enrolling on data analytics courses will be a wise career choice for professionals in the current market.  

become a Data Analyst

This article will walk you through the fundamentals of a data analytics course and help you build a career in data science.

What does a data analytics certification entail?

Data analytics certification courses typically involve learning various tools, techniques, and technologies for analysing large amounts of data. The programme aims to teach participants how to gather, process, and analyse data to gain insights and make data-driven decisions.

The specific content of data analytics courses with certifications may differ depending on the institute offering the course and the level of certification. Any good programme, however, will cover the following topics:

Fundamentals of data analytics: Understanding the fundamentals of data analysis, data visualisation, data management, and statistical concepts are all part of this.

Data processing and manipulation: This includes cleaning, transforming, and manipulating data using tools such as SQL, Python, R, and Excel.

Data visualisation: This includes effectively communicating data insights through visual representations such as charts, graphs, and dashboards.

Machine learning: Learning algorithms and models are used to predict outcomes and identify patterns in data.

Big data technologies: This includes learning tools for processing and analysing large data sets, such as Hadoop and Spark.

Business intelligence and analytics: Understanding how data can be used to drive business decisions and solve business problems is part of this.

The certification programme could include a mix of online and in-person classes, self-paced learning, and hands-on projects. The programme may also include assessments such as quizzes, exams, and project submissions to evaluate the candidate’s skills and knowledge.

Overall, a data analytics certification programme aims to provide individuals with the knowledge and skills required to perform data analysis and make data-driven decisions in various industries.

How to choose the right data analytics certification programme?

Given the numerous options available, selecting the best data analytics certification programme can be daunting. Here are some important factors to consider when selecting the best data analytics courses:

Determine your career objectives: Think about your current job and the skills you’ll need to advance in your career. Choose a certification programme that corresponds to your career objectives and will assist you in developing the necessary skills.

Examine the certification provider: Ensure that the provider has a good reputation and is well-known in the industry. Check the provider’s reviews and ratings and their certification programme to ensure their credibility.

Examine the curriculum: Look for a certification programme that covers topics and skills relevant to your career objectives. Examine the curriculum to ensure it includes the most recent tools and technologies in the field.

Examine the delivery format: Choose a programme that fits your learning style and time constraints. Some programmes can be completed at your own pace, while others require live online or in-person sessions.

Consider the price: Determine your certification programme budget and compare the costs of various providers. Look for programmes that provide good value for money and a good return on investment.

Examine industry recognition: Look for certification programmes approved by industry associations or employers. Having a widely recognised certification can improve your job prospects.

Look for assistance: Select a certification programme that provides assistance both during and after the programme. Look for service providers who provide mentors, support forums, and resources to help you succeed.

Why are data analytics certifications recommended?

Individuals with data analytics skills can significantly improve their career prospects. In addition to being in high demand across industries, data analytics skills can lead to higher salaries, promotions, and increased job security. Data analytics professionals can analyse complex data sets, identify trends and patterns, and communicate their findings to stakeholders, demonstrating their value to their organisation.

Conclusion

The field of data analytics is constantly evolving, with new tools and techniques being introduced on a regular basis. This means that individuals with a strong foundation in data analytics can continue to learn and grow in their careers while staying current on the latest trends and developments in the field.

If you wish to pursue a career in data science, you can check out the Postgraduate Programme in Data Science and Analytics by Imarticus. This advanced certification programme partners with industry toppers and offers guaranteed job opportunities in them. Check out their website for more course-related details today!

Transport, Cross-Docking, Logistics and B2B Integration in Supply Chains

Posted on by Imarticus Learning

A business-to-business (B2B) integration is the software that is used for transferring business data between two or more partner organisations. Nowadays, inventory management in a supply chain is of paramount importance. Cross-docking is an intelligent logistics procedure that eliminates or minimises storage requirements on the part of the manufacturer and channels products directly to the customer ends or retail chains. 

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Logistics is the system of transferring, warehousing, and distribution of products from their point of manufacture to places where they meet their end users. Transportation means moving materials by air, waterways, road, and railway to reach their clients or distribution networks. 

Role of Logistics and Transportation in Supply Chains

The logistics and transportation system is the heart of a supply chain network. The growth of a modern organisation is a function of its supply chain management. Similarly, the efficiency of the supply chain is a function of its robust logistics system and diversified transportation network. Salient roles that the department plays are as follows –

A strong network of transportation and logistics systems makes the supply chain efficient and physically secure from human-created or natural disruptions.

This industry depends on information and communication technology. Thus, cyber-attacks covertly launched by rival organisations or hackers are to be prevented by the logistics team by implementing a robust cyber security system.  

  Information technology helps to share real-time data to quicken the process in the supply chain in terms of time and operational efficiency.

Warehousing planning or inventory management in a supply chain is a logistics function. Besides catering to the normal demand, logistics strategies also respond to special inventory needs like the latest trends, sudden demand surges, seasonality and other factors.

Another important logistics function is to strategise the mode of transport or its combination sequence in order to ensure the fastest and most cost-effective delivery. Choosing the best mode of transport is also a logistics function. 

Importance of Cross-Docking in Supply Chains

Cross-docking is a digital data-based advanced logistics arrangement where products are directly forwarded to the customers or distributors, thereby eliminating the need for storage at the manufacturer’s end. Several advantages of cross-docking have been mentioned below:

Inventory management at the manufacturer’s end is expensive. Keeping inventory results in delayed delivery of products. Cross docking eliminates storing time and improves efficiency in product delivery.  

 Cross docking prevents manual handling of products at the stores and hence restricts damage to the bare minimum.

Cross-docking improves the overall efficiency of the supply chain by reducing delivery time and minimising the cost of inventory management. Products get rolling on wheels faster. End customers get the privilege of getting products faster at reasonable prices. 

Cross-docking facilitates both inbound and outbound sorting of products so that they are directed to their next destination in the most hassle-free manner.

Cross-docking requires lesser capacity warehouses because the products are not generally planned to be retained as inventory. As a result, the labour cost is also reduced.

Manufacturers who have incorporated a cross-docking system in the supply chain may always stay one notch above their competitors, who still maintain the conventional warehousing system.

Cross-docking is a must for those manufacturers who sell products with a limited life. The best examples may be food items, beverages etc. which are perishable in nature. These items must be shipped to the end users or the next business immediately by using this method.

Organisations that depend on many suppliers also take the route of cross-docking to reduce inventory expenses and time.

Nowadays cross-docking is supported by route planner software to maximise the efficiency in the supply chain.

Cross-docking works on automated software. There are no chances of errors that are frequent in manual operations.  

Besides quicker delivery at a reasonable cost, cross-docking allows sellers to offer discounts to their buyers. This helps manufacturers to leverage their competitors.

Cross-docking reduces or eliminates the requirement of purchasing land and developing them into logistics hubs.

The manufacturers may also demand more discounts for volume purchases from their suppliers and ultimately pass on these benefits to their customers.

Cross-docking also helps distribution networks to obtain prior knowledge regarding what the manufacturers or suppliers have shipped to them and when they are expected to reach. All this information is triggered by its automation-based system. 

Role of B2B Integration in Supply Chains

The objectives of the business-to-business integration are to gather useful data from all stakeholder organisations and then share them with all with the purpose of getting timely responses from all of them connected in the business network. The benefits are as follows –

 This software digitises information and helps business houses to integrate their data in a common gateway to improve trading of mutual interest.

Its technical features are remarkable. It has powerful communication adaptors, an application integration system, format translation capabilities, accurate mapping, compression, encryption and data validation. It is capable of message tracking and real-time reporting. 

The system gathers information from different sources and converts data into standard formats before sharing them with all stakeholders.

Integration may be availed through cloud services.

It eliminates the slow and inefficient manual system of inventory management in the supply chain and quickens up product delivery by sharing information faster with all stakeholders and drastically improving turn-around time for all sequences of processes.  

B2B integration primarily serves the interests of the manufacturers who work hard on developing a trust-worthy, responsive and faster supply chain by sharing all real-time with the stakeholders.  

Conclusion     

In today’s world, supply chain and operations management has become the most trendy career-evolving prospect in India and abroad. The Supply Chain and Operations Officer course grooms a prospective candidate in the key topics of business, marketing, finance, logistics and operation.  

The Global Chief Supply Chain and Operations Officer course at Imarticus will enable the prospective candidate to boost their career towards a bright future. The IIM Raipur supply chain management program is very popular amongst students. The duration of the course is 10 months. 

After completing the IIM Raipur supply chain management program, the students become more empowered professionals in the field of supply chain and operations management.

Visit the official website of Imarticus for more course-related details.