Data Science and Predictive Analytics †Free Samples to Students

Question: Discuss about the Data Science and Predictive Analytics. Answer: Introduction Companies are formed for different purposes which include the provision of certain products in exchange for revenues. Firms, therefore, need to establish the necessary network that will ensure that the products of the company can reach the target market. Supply chain and logistics management refer to a system established in the organization to ensure that the company can supply the products and services to its customers (Barney, 2012, p.4). The supply chain management involves sourcing for the raw material, processing, transportation, warehousing, packaging and handling and network design which in most cases helps in distribution of the products to the target customers. This report is written to illustrate the integrated supply chain and logistics management in organizations, and Sphinx Australia Company will be used. Sphinx Australia is a company located in Australia and in the clothing industry. The firm was formed in 1984 to design, manufacture and distribute clothing to a wide range of customers which comprise men, women and children. The company specializes in denim, shirts, defense apparel, blouses and emergency clothing (Sphinx, 2013). The company can manufacture clothes locally and even in abroad because it can offer the needed quality clothes. The company's factories are equipped with the state of the art machines that help the firm to manufacture and package the products in time to meet the ever-changing demands of the target market. The company sources for the quality raw materials or even materials that will lead to the production of quality products that satisfy the tastes and preferences of the customers. Supply chain and logistics in the organization. Supply chain and logistics management in organizations is divided into several divisions which are headed by experts or managers with the needed qualifications. The areas include; Sphinx Australia purchases raw materials from various suppliers in the country. The company chooses the required supplier who will supply the right quality materials according to the specifications of the customers. The selection of the supplier also depends on the reliability of the supplier, the resources of the supplier and even the costs associated with the supplier (Georghiou et al.2014, p.7). If the company will manufacture the needed clothes, the company chooses a different supplier who is different from one needed if the company was to purchase ready-made clothes. After sourcing the needed material from the right supplier, the materials are taken to the factories for processing. The factory manager should ensure that the company manufactures the desired quality of clothes that will satisfy the needs of the customers and position the brand of the company in a position that will enable it to compete effectively with the competitors (Acin et al.2012, p.1349). The company ensures that the equipment in the factory are working efficiently to minimize wastage of raw materials. This will help in minimizing production costs. The company also ensures the factories produce the needed quantity of products to avoid the shortage of products which leads losses and loss of goodwill and reputation of the company. The packaging of the products is done after they have been manufactured by the factories. The packaging and handling of the products is done manually because the company has the required manpower to perform the tasks effectively. The clothes are packed in branded bags that enable the customers to distinguish the products from those of competitors (Wikstrm et al.2014, p.105). Products being exported abroad are packaged differently because they need extra care when handling them so that they can reach the required destination in good condition. Handling of the products when loading them into vehicles is also done manually with the help of machines that make the process easy. Warehousing involves storing the clothes in stores in anticipation of future demand. The clothes after being packed are taken to the warehouses for storage. The warehouses are located in different cities and towns in Australia to make distribution much easier. Warehousing helps the company not to incur losses that are associated with running out of stock (Garca et al.2014, p.65). In the warehouse, stock taking is done before the products are stored. This helps to minimize theft of the products and also to track slow moving products. The warehouses have enough security as they are heavily guarded by private security agencies. The company facilitates movement of the raw material from the suppliers to the factories. Some suppliers who offer after sale services relief the company from such transport costs (Ji et al.2014, p.216). Movement of the finished products from the factories to the warehouses is done by the company trucks. The company also ensures that the products move from the warehouses to the retail stores where the customers can access the products easily. The company hires trucks to transport its products to the neighboring countries because outsourcing such services is less costly. The company also offers after sale services by transporting the customers products to their wholesale or retail stores. In case of customized clothing that needs to be transported abroad and trucks cannot be used, the company uses airplanes, but the cost of transportation is incurred by the customers. Network design refers to the operating framework of the company and it guides and helps in the management of the firm. The network design determines how efficient the business will be. The network involves procurement, processing, and manufacturing, warehousing, transportation, marketing and financing of the firm (Farahani et al.2014, p.99). Sphinx Australia has several suppliers who provide supplies whenever needed. The company selects the supplier who will help provide raw material that will lead to the production of products that satisfy the needs of the company. The company procures material locally and abroad depending on the demands of the customers. The network also has efficient manufacturing plants that are well equipped to enable the company produces quality products. Government is also part of the network. The company ensures that it complies with the enacted government regulations such as payment of taxes, renewing operating licenses and environment conservation policies The network framework of the company also has several warehouses that enable the company to store the manufactured products. This enables the company to stock enough stock that will enable them to withstand hard production times due to several factors such as inflation (Colledani et al.2014, p.786). The network also has transport means that enable it to distribute products from the manufacturing plants to the warehouses and from warehouses to the retail stores which are located all over the country. The network design also has marketing section that enables the company's products to be known by customers and potential customers (Jacobs et al.2014, p.534). The marketing involves media advertising, print media advertising, promotions and public relations. These activities enable the company to generate high revenues. The finance section also forms the network design. This enables the company to efficiently manage the resources of the company and also identifying sources of finance. The finance section is the heartbeat of the network as all the sections need to liaise with it. For efficient operations, the components of the system should work together. The section is also responsible for monitoring the costs of the company. Recommendations To improve the performance and competitive advantage of the company, sphinx Australia Company need to start practicing the following recommendations in each of the given areas; Sphinx Australia needs to start ordering materials using economic order quantity (EOQ). This method will help the company to save on costs that are associated with urgent procurement of materials (Chung and Crdenas-Barrn, 2012, p.2153). The system will also help the company avoid costs associated with frequent ordering of raw materials. Such practices will also enable the company to save on storage costs that are incurred due to storing high amounts of raw materials in the warehouses and have freedom of charging low prices which improves the competitive advantage. Sphinx Australia should also practice single sourcing method of procuring raw materials to select the trusted suppliers who will deliver the expected quantity and quality of materials. This will enable the company to maintain the good image of the brand. The company should also develop a network with the suppliers such as extranet that will enable communication and flow of information to be easy (Friedl and Wagner, 2012, p.3079). This will simplify the process of placing orders and ensure in time delivery of the materials. The company should also procure materials from suppliers with good reputation and goodwill who will help the company to maintain the good image. The company should also select suppliers who practice environmental sustainability to conserve the environment and this will improve the competitive advantage of the firm Manufacturing recommendations The company should have an integrated system of operation which will enable the procurement department to work together with other departments. The system will enable the finance to track the level of inventory in the warehouses to determine if the stock will meet the expected demand (Shao et al.2012, p.2409). This will enable the procurement department to order material in time to avoid the shortage of stock which can lead to losses. The company should encourage innovation in the processing plants which will ensure that there is minimal wastage of the raw materials during the manufacturing process. This will help to minimize manufacturing expenses and improve the efficiency of the manufacturing activities. The efficiency will result in improved quality of products, and the image of the brand leading to customer acquisition and customer retention and this will improve the performance of the firm. (Santamara et al.2012, p.151). The manufacturing plants should manufacture the desired quantity of clothing to avoid production of excess clothes which will lead to increased insurance costs and storage. The production of fewer products will not meet the market demand, leading to revenue loss and loss of customers and goodwill. This will be enhanced by encouraging innovation in the manufacturing process. Branding and packaging is a very important aspect of the supply chain management. The branding helps to distinguish the products of the company from those of competitor (Dodson et al.2012, p.935)s. The company should brand the clothes according to the preferences of the target market. This will only be possible by the purchase of machines that will make the branding more efficient. The company should also pack the products in disposable bags that are environmentally friendly to enhance environmental sustainability. This will help to improve the corporate image of the company leading to more sales and revenue. The company should package the products in cartons or bags that are well labeled to avoid confusion during transport and also avoid mix up during the purchase of the products by customers, and this will improve the performance of the firm. The packaging and handling of the products should ensure the protection of the products from different aspects such as mechanical shock and temperature. This will ensure the quality of the products is maintained (Li, 2013, p.172). The packaging should also enhance the security of the products. The package should be well sealed to minimize product swapping and theft. The packages should also be used to pass important information or even create awareness of the importance of using the products, how to dispose off the package or even the product and whether the product can be recycled or not. The packaging should be used as a marketing tool for the company. The company can highlight their products they offer, their store locations and even their contacts. This will lead to customer acquisition. The packaging should add convenience in handling the products, distribution, opening, displaying and even reclosing the package after opening. This will improve the performance of the firm. Warehousing recommendations Sphinx Australia company should adopt daily reconciliation of their stock to minimize theft of the products in the store. The regular stock taking exercises will also play a critical role in ensuring the existence of the recorded stock. The company should also develop an enterprise resource planning (ERP) system that will ensure that other departments involved in the supply chain can track the level of inventory in the store (Shao et al.2012, p.2409). This will help in avoiding overproduction which leads to increased storage and insurance costs. The system will also help the finance section to plan well and avoid the shortage of working capital in the company. The system will also help in tracking slow-moving products and the fast moving products. This will enable the company to stock faster moving products and generate more revenues. The warehouses should be well ventilated to prevent spoilage of the stored products which can lead to losses. The warehouses should be fitted with modern storage equipment that will help to maintain the high quality of the products. The equipment should prevent tearing of the clothes and prevent dust and oxygenated air vapor which can lead to rusting of the zips. The warehouses should have scanning machines that will prevent receiving unordered products (Ballestn et al.2013, p.700). The machines will also help in preventing the distribution of wrong products to customers and retailers and this will improve the performance of the firm. Transportation ensures the products of the organization are easily accessible to the customers and potential customers. The trucks should be branded and this will help in marketing the company and its products (Tavasszy et al.2012, p.215). The company should assign the trucks to transport products to warehouses and retail stores that have more sales to increase the revenues of the company. The company should have ERP system that will ensure that the company can monitor the movement of the clothes in the warehouses and retail stores (Shao et al.2012, p.2409). The company should then transport the merchandise in time to prevent the shortage of products in stores. In case of transportation of products to abroad, the company should make necessary arrangements with reliable transport agencies to avoid delaying the products. The transportation trucks should be fitted with equipment that will help in safeguarding the quality of the products in transit. Network design recommendations For effective and efficient collaboration, the company should establish an extranet which will ensure effective communication with all the networks. This will help in sharing critical information with the partners, suppliers, creditors and the customers. The network will help the customers to share their preferences and tastes and the company to advertise their new products. ERP system should be developed to ensure the departments involved in the supply chain can easily communicate (Barney, 2012, p.5). This will make it easy in placing orders and making payments of the incurred expenses. The network of the company should have effective information and technology department that will help in designing a company website that is user-friendly. The IT department should also help in developing efficient electronic commerce which will lead to more sales. This will ensure that customers can place orders in the comfort of their homes and offices and improve the competitive advantage of the f irm. The network should also comprise of reliable suppliers. The company should establish good relations with the suppliers. This will involve paying the suppliers in time and this will motivate the suppliers and this will enable the company to receive quality manufacturing materials in time (Sarkis, 2012, p.207). The network should also include marketers and advertisement agencies. This will ensure the companys products are well promoted so that to be known by the existing and potential customers. Big data analytics In modern society, companies are faced with big data which makes decision making so hard for most of the managers. To extract information from the large available data, the management of the company needs to invest heavily in technology that will enable it to predict trends in the industry (Chen et al.2012, p.1178). Failure to adjust to the fast-moving technological advancement, the organization, will not be able to compete effectively with the competing firms. For Sphinx Australia to practice big data analytics, methods of capturing, storing and retrieving the data should be available. In implementing the big data analytics, there are four stages; Sphinx Australia need to follow. The first stage is data structuring. In this stage, the company will be required to clean the available data to ensure it is of high quality to make it reliable when using it to predict trends (Gantz and Reinsel, 2012, p.11). The second stage is data availability. The data to be analyzed should be available when needed all the time to make the right decision. The third stage is basic analytics. In this stage, the company should be able to analyze the available data and come up with the basic analysis results such as correlation of the sales and customers income. The fourth stage is advanced analytics. In this stage, predictive analysis is made, and algorithms made to predict the future trends. Sphinx Australia can use big data analytics to improve its operations. The company will use the extracted intelligence to determine the suppliers risk. This will enable the company to choose the supplier who has less risk, and this will help in ensuring procurement of quality material (Waller and Fawcett, 2013, p.82). This will help to enhance the quality of the products. The big data analytics will also predict the product characteristics, and this will enable the firm to choose the right supplier to deliver the materials. The company can use big data analytics during the manufacturing process. This will be useful in ensuring the manufacturing plant has enough skilled workforce to deliver the expected results (Hazen et al.2014, p.76). The analytics will also help in identifying capacity constraints that hinder the production of the desired quality of goods. Inventory optimization will also be enhanced because the big data analytics will help in minimizing wastage in the plant. Big data analytics can be useful for the transportation of the products from the plant to warehouses and retail stores. Transportation alternatives will be provided and also help in routing and scheduling the available trucks of the company to the more profitable retail shops (Wang et al.2016, p.104). The intelligence provided will also enable the company to maintain the vehicles well. The analytics will also help in customer segmentation and the company will be able to track the ever-changing consumer behavior. This will enable the company to provide products that meet the demands of the customers (Cooper and Ellram, 2012, p.22). The analytics will also help the company to package the products in a way that appeals the customers because of the assortment optimization facilitated by the big data analytics. Conclusion The principal target of manufacturing companies is to produce products of high quality that meet the customer expectation. The supply chain management will then ensure that the customers can access the products so that the value of investment in the products can be realized. Without efficient supply chain and logistics management, the company will not be able to acquire customers and retain customers. For efficient supply chain, a company is required to capture, store and retrieve data to practice big data analysis which will result to optimization of the supply chain activities. References Acin, F.G., Fernndez, J.M., Magn, J.J. and Molina, E., 2012. 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