Business

Logistic and Statistical analysis for Large Corporations

Every single organization, be it big or small, deals with a massive amount of data. They accumulate this database and file it in a formal procedure so that they have access to it when they need it. The smarter they deal with the information the more revenue it will yield. A firm has multiple supply chains set in motion to keep up with production and distribution. Each of these systems is as vital as the end result itself. So, skilled people with experience are appointed in higher posts so that they can manage the situation and workforce at a place to keep the system running smoothly. So, it is so very crucial to analyse the system so that it can run perfectly. 

Let us discuss the steps to maintain the Supply chain: 

  1. Workflow Management: At different tiers, there are different men involved. When it is about an automotive supply chain, we have to ensure that the core materials are being produced and moulded into different shapes and sizes. Some other employees will ensure the installation of the structure. Some might make sure that workers are in working in a humane condition and are paid proper wages. So, there are different areas that need to be taken into consideration. The automotive designers and those who come up with the selling perspective of the finished products all come under the same category driving workforce for a company or a product. 
  2. Shipment of Products: When a product is finished it goes through several aspects of scrutiny and finally delivered to the consumers. Here also, if we pay close attention we’ll see that a chain of workers is involved. The products go from one person to another until it is finally delivered. 
  3. Cost-Efficiency: Supply chains are cost-efficient. When we have a system installed in a place it is way more convenient than to build a whole new flow for production. The workers and the services can make products in bulk when the cycle is intact. That is why cost-efficiency and time management is important for any business module.  

2020: A year of broken supply chain

This year due to pandemic, the situation has come to a halt. Let us discuss the condition at hand with a simple farm illustration. A plantation produces different types of potatoes and vegetables. These fresh products go to big companies that clean them and sell them in the store where you buy the potatoes. The companies also sell them to restaurants and diners where you go and have your favourite dishes and French fries. The potatoes get sold to further companies to turn them into chips and other eatables. So, we can see how from a farmer the potatoes go through various stages to come to a consumer. 

Now due to COVID-19, the supply chains have been disrupted. The eateries are closed and no one is allowed to eat and visit restaurants. So, the demand came at a standstill completely, therefore the store owner or the company that used to provide them do not need any potatoes anymore. This, in turn, this is making the farmers face a huge loss. They are compelled to throw out tons of fresh produce on the open ground. This is causing them a great deal of hardship. So, we have a clear idea now why the supply chain is fundamental.

Let’s hope that the workflow will witness positive changes soon and new technological advancement will make our life easier by improving the supply chain in a direct way. 

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