Supply chain software for real-time insights

Supply chain management is the backbone that keeps businesses running smoothly and efficiently. It includes all the activities involved in the flow of goods, services, information and finances, from the initial procurement of raw materials to the final delivery of products to the end customer. It is about managing the entire journey of a product, from its creation to its consumption. Effective supply chain management ensures all the different parts of the supply chain work together seamlessly, optimising performance, minimising costs and ultimately delivering value to customers. This includes sourcing materials, manufacturing, transportation, warehousing and distribution.

There are various types of supply chain management (SCM) software available on the market. The choice of software depends on the specific needs and requirements of a business. Many solutions include demand planning, inventory management, procurement and warehouse management. 

Some offerings include global, cloud-based SCM software that helps businesses optimise their end-to-end supply chain design, planning and manufacturing. Many offer features such as inventory management, demand planning and transportation management. Some SCM software provides real-time visibility into inventory, demand and supply, allowing companies to make more informed decisions.

Other solutions use artificial intelligence (AI) and machine learning (ML) to enable better demand forecasting, inventory optimisation and delivery route planning. Choosing SCM software that enhances visibility, collaboration and efficiency across the supply chain is essential.

Sage offers Sage X3, which helps you keep up with demand and ensure optimal efficiency through real-time monitoring of inventory status.

Supply chain management (SCM) is not a type of enterprise resource planning (ERP). However, ERP systems often include modules for supply chain management. ERP software is an integrated suite of applications that allows businesses to manage and automate various operations, including supply chain management. It provides functionality for managing financials, inventory, procurement, manufacturing and other business processes. SCM is a subset of ERP and focuses specifically on the management of the supply chain, including logistics, procurement, inventory and demand planning. Sage X3 is an example of ERP software that includes supply chain management features.

The supply chain and logistics are closely related, but they have distinct differences in focus and scope. The supply chain encompasses the overall process of sourcing, processing and delivering goods to the end customer, while logistics specifically deals with the movement and storage of goods between different organisations within the supply chain.

AI's ability to work with sparse data, integrate disparate sources, continual learning and accessibility through cloud services makes it a powerful tool to drive supply chain efficiencies and insights for small to mid-sized companies who may not have large data volumes initially. 

AI can help integrate data from multiple sources – even sparse datasets from suppliers, logistics providers and sales. By consolidating and analysing this distributed data intelligently, AI can extract valuable insights for predictions and prescriptive recommendations that may not be apparent through traditional methods such as business intelligence.