An area of business that uses data analytics to improve operations is supply chain management. Managers are constantly looking for ways to make their operations more efficient and cost-effective. Which of the following is a way that a light bulb manufacturer could use data analytics to improve its supply chain management?
A) Use the data collected on production wages to determine why the LED division went over budget
B) Use the data collected to create a demand forecast for a new LED bulb
C) Use the data collected to determine what the change in glass costs were year-to-year
D) Use the data collected to determine why the costs of copper from their copper supplier increased

Question

Quizplus · Accepted Answer

This question requires familiarity with data analytics and its impact on supply chain management functions for an organization. Choice B is correct because creating a demand forecast for a specific product or product line is a way that data analytics could improve supply chain management for a light bulb manufacturer. The remaining choices are incorrect because they evaluate past events and do not focus on possible improvements, or they contain analyses that may improve other areas of the organization.

An Area of Business That Uses Data Analytics to Improve