Why is OTIF a Key Metric for Measuring Supply Chain Performance? Download Quantzig’s Free Resource to Find Out
LONDON--(BUSINESS WIRE)--May 24, 2019--
Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of its free resource on the importance of OTIF for modern enterprises. With the rise in competitive pressures, OTIF has turned out to be one among the top metrics to measure supply chain performance. More popularly known as on-time in-full delivery, it is the end result of all supply chain activities bundled into a single view of business performance.
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THREE STEPS TO IMPROVE OTIF PERFORMANCE (Graphic: Business Wire)
Also, it is one of the best ways for businesses to gain insights into customer satisfaction rates with respect to their supply chain performance. To improve OTIF scores it is essential to chalk out a well-planned roadmap for improving supply chain performance. OTIF optimization is crucial from a supply chain perspective, as a critical breakdown at one point in the supply chain can adversely impact revenue and more importantly customer satisfaction.
“OTIF is a key supply chain performance metric that can positively impact profitability and help businesses to meet or exceed end-user expectations,” says a supply chain analytics expert from Quantzig.
Quantzig’s OTIF optimization solutions can help you enhance customer experience and boost profitability. Wonder how? Request a FREE demo right away!
Three steps to improve OTIF performance
Set clear targets for performance improvements
To successfully execute your OTIF plan, it’s crucial to meet internal schedules and ensure the continuous flow of materials between the manufacturing units, regional warehouses, and distribution centers.
Maintain the right inventory and buffer stocks
The main goal here is to avoid inventory stockouts by calculating the buffer inventory levels that have to be maintained at any given point of time. While calculating safety stocks its essential to determine the accurate number of products that have to be retained as safety stocks so that you never lose business.
The proliferation of data sets have not only resulted in the evolution of new business models but have also increased supply chain complexities. Leveraging the use of analytics can help businesses to enhance visibility into core supply chain processes.Get in touchto know more.
Use analytics dashboards to track and monitor performance
Monitor the set KPI’s for OTIF performance using advanced analytics dashboards that help you track and compare the OTIF scores in real-time. Adopting such an approach helps businesses to quickly identify and act on disruptions.
- To read more, download this free resource
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit:https://www.quantzig.com/request-for-proposal
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INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT
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PUB: 05/24/2019 11:15 AM/DISC: 05/24/2019 11:15 AM