Supply Chain Planning 2030: Prescriptive Analytics Takes a Lead Role

Figure 1. Role of Prescriptive Analytics in Next Generation Decision Support

There is a new technology revolution in the making with the explosion of Internet of Things (IoT), machine learning, self-driving cars, etc., which conjures an image of large-scale automation of decisions based on real-time information. It is a vision that applies  to the supply chain planning world as well.

However, one important aspect has to be understood by everyone: the brain behind the success of a self-driving car is really the algorithms behind it that determine the best route to follow and if there are hurdles along the way (accidents, detours, etc.). The ability to recalculate the best route becomes crucial. In other words, algorithms are a key enabler of this utopian vision of high levels of automation.

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How Will The Internet of Things Impact Healthcare?

This post is the second in a series on the Internet of Things (IoT), a topic we've never really focused on in past blog posts. While the first discussed the applications of IoT in supply chain management, this one will focus specifically on its applicability to healthcare. (As many of our readers know, we’re particularly interested in advanced analytics, IoT, Big Data and similar topics as they relate to expanding the healthcare industry and helping to tackle some of the many deeply ingrained problems the industry faces.)

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IoT in Supply Chain: Is the Hype Real?

I think we all know the answer to this one...YES, the hype is real. Over the past decade, the Internet of Things (IoT) has evolved from a concept relevant only to technology enthusiasts to something that is permeating every aspect of our society. According to Gartner, 5.5 million new devices will be connected every day in 2016, and the world will have over 20 billion connected devices by 2020!

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