There are mainly three types of analytic approaches to Supply Chain Management, namely, Descriptive Analytics, Predictive Analytics and Prescriptive Analytics. Descriptive Analytics gives us an insight into what has happened earlier in the same or similar business houses for Supply Chain Management. The process is basically acquiring, summarising and rationalising large datasets to project new business insights.
Supply chain management course
The process of predicting the future with the usage of historical data gathered and then using different statistical tools or computer-based complex algorithms is known as Predictive Analysis. Nowadays Supply Chain Management Certification Course teaches Analytic Tools to prospective candidates. This is to forecast what will happen in the future. And the third mode of Analysis is Prescriptive Analysis.
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