1 Foundations of Supply Chain Analytics Free Online FlashCards

What is supply chain analytics?

Supply chain analytics uses data, mathematics, statistics, and software to understand supply chain performance and support better decisions.

What question does descriptive analytics answer?

Descriptive analytics answers what happened, such as how many orders arrived late last month.

What question does diagnostic analytics answer?

Diagnostic analytics investigates why an outcome happened, such as whether delays were concentrated on a particular route or supplier.

What question does predictive analytics answer?

Predictive analytics estimates what is likely to happen, such as future demand or late deliveries.

What question does prescriptive analytics answer?

Prescriptive analytics recommends what to do, such as choosing an inventory or routing change to meet service and cost goals.

What do transactional data record?

Transactional data records business events and quantities, including orders, receipts, production records, shipments, and invoices.

What role do master and reference data play?

Master and reference data provide context for transactions, such as product identifiers, supplier records, locations, units of measure, and agreed lead times.

What distinguishes time-series and event data?

Time-series and event data capture measurements or events over time, such as daily sales, shipment scans, or machine readings.

What do inventory and capacity data describe?

Inventory and capacity data describe resources and constraints, including stock on hand or in transit, production time, warehouse space, and labor availability.

What should you check before combining data sources?

Before combining sources, check definitions, units, time periods, and missing values; also distinguish actual outcomes from plans.

What makes a measure a well-defined KPI?

A KPI is a measure selected to assess progress toward an objective. Define its formula, units, time window, data source, and scope.

Why should supply chain performance include trade-offs?

Supply chain objectives can conflict: faster delivery, lower inventory, greater flexibility, and lower cost may not all improve at once.