SPECTRA - SUPPLY CHAIN & INTELLIGENCE REDEFINED
Organizations are facing internal and external supply chain challenges with rising customer expectations. Intense competition combined with insufficient insights on demand, supply, pricing strategy, product mix and the market, may further impact business growth.
In manufacturing or retail, information has replaced real assets as the pivot for decision-making and the insightful action. It is imperative for the organizations to use internal and external data in order to gain in-depth knowledge of the market and evolving customer needs. With the gained knowledge organizations can streamline their operations accordingly.
Challenges in managing efficient supply chain:
- Lack of real time data visibility.
- Lack of synchronization between inventory planning & demand planning.
- Frequent stock-outs or excess inventory.
- Lack of flexibility in network & distribution to prioritize service levels or cost to serve.
Bista | Spectra
Bista’s SPECTRA software is a combination of business rules, machine learning technology, data management, statistical models and visualization techniques to give you powerful insights into your supply chain.
SPECTRA can be categorized into three phases: Strategic Planning, Tactical Planning and Demand Sensing.
- Inventory categorization
- Multivariate clustering
- Determining best-fit algorithm
- Multi-echelon network calculation
- Demand forecast
- Procurement Plan
- Inventory Transfers
- Demand Sensing
- Lost sales modelling
- Price sensititvity
- Inventory levelling
SPECTRA’s platform is built on Apache Hadoop ® which is easy scalable to store millions of records of transactional data.
This data is then aggregated or summarized at specific product attributes on which the statistical methodologies are performed to get advance demand forecast model.
SPECTRA has machine learning and statistical algorithm which are programmed in Scala that leverages in-memory engine of Apache Spark™ to run fast and large scale data processing.