Best Supply Chain Optimization Software in 2024

Optimizing supply chain operations for better efficiency and cost effectiveness is a key focus of supply chain leaders.

It’s not surprising, therefore, that you are always on the lookout for the best supply chain optimization software that can let you better manage material and cash flow. 

But finding the right technology can be tricky. Not all tools out there deliver what they promise. Sometimes, even the most advanced software can end up creating more problems than it solves, like causing departments to work in silos.

When departments make decisions on their own, without coordinating, it’s easy to miss out on making the most impactful changes. This kind of fragmented approach can really drag down productivity. It leads to inefficiencies, spiraling costs, and lost revenue.

Sound familiar? If it does, you don’t have to keep dealing with these issues. Luckily, it’s 2024, and there are some great tools designed to make your supply chain operations more optimized. These tools not only streamline processes but also improve decision-making across departments, ensuring everyone is aligned.

Let’s take a look at what these tools are.

Best Supply Chain Optimization Software in 2024

1. Spreadsheets?!

Okay, this might be a surprise. But we had to call your attention to spreadsheets. 

Supply chain professionals love spreadsheets. 

And it works as long as your business has limited (very few) product lines and restricted locations. Beyond that, if you are still using spreadsheets, your team is most likely stuck in the comfort zone of a familiar tool – which is fair. But if you are aiming to grow aggressively, we urge you to look at other tools on this list. Spreadsheets have limitations that can become significant barriers as your business expands.

The only other reason why you’d use spreadsheets is because you don’t mind taking the risk of falling behind, especially in the age where Artificial Intelligence and analytics are ruling the world. From limited scalability to erroneous outputs, there are a lot of chances that you are taking by sticking to the familiarity of spreadsheets.

2. ThroughPut AI

Now to some real tools, much different from spreadsheets. ThroughPut AI is a supply chain analytics and decision intelligence tool recognized by Gartner as a “Leading Vendor in the Prestigious 2023 Gartner Market Guide for Analytics and Decision Intelligence Platforms in Supply Chain.”

The tool is used across enterprises in multiple sectors, helping organizations with cost reduction, operational efficiency, and revenue creation. Using advanced AI and machine learning technologies, the tool helps predict demand accurately, optimize inventory, and streamline operations.

As one of the best supply chain optimization software, the following are the key benefits of ThroughPut AI.

Key Benefit #1: Treats supply chain as an integrated, holistic function

The issue with ‘point solutions’ is that these solutions fall short of truly optimizing the entire supply chain. The right supply chain optimization tool should understand and reflect the interdependencies. For example, delayed production can affect logistics and inventory. 

ThroughPut AI treats the supply chain as a whole. It offers end-to-end visibility and facilitates informed and strategic decision-making by understanding the interdependencies within the supply chain. Businesses can optimize operations with a clear understanding of how your decision impacts all functions across the chain.

Consider a European retail company that was facing rising costs due to frequent expedited shipments. Traditional logistics software might focus solely on logistics and inventory challenges to manage these costs. However, ThroughPut AI, with its comprehensive view of the supply chain, enabled the company to prioritize high-value, high-demand products and deprioritize low-value, low-demand items. This strategic approach streamlined their logistics and effectively reduced costs.

Key Benefit #2: Works with existing data

A common misconception among supply chain leaders is the belief that they lack sufficient or high-quality data. However, ThroughPut AI dispels this myth by effectively leveraging the data you already possess. For the tool, the data that you already have is a good place to start. 

This data could be residing in spreadsheets, ERP systems, POS systems, or legacy platforms. The tool’s in-built capabilities seamlessly integrate with all the data sources to extract valuable insights and the right information. This way, not only the existing data is maximized but it also helps reduce the time spent on data preparation and consolidation. As a supply chain leader, that leaves you with enough time to focus on critical operational improvements and strategic decision-making.

Key Benefit #3: Faster ROI

ThroughPut AI delivers a return on investment within 90 days. This accelerated pace is possible because the tool bypasses the lengthy stages of data collection and preparation that typically slow down projects. Instead, integrating ThroughPut AI with your existing systems is straightforward and doesn’t require a massive digital overhaul. You can start on a small scale and expand gradually, focusing on achieving specific outcomes step-by-step. This outcome-driven approach ensures quicker wins and measurable results.

For example, consider a cement manufacturer that was close to investing in new trucks, a significant capital expenditure. By leveraging ThroughPut AI, recognized as a best supply chain optimization software, the company identified bottlenecks and underutilized capacities. This insight allowed them to optimize their existing resources, eliminating the need for new trucks and thus saving on both capital and operational costs.

Key Benefit #4: Identify the area with the fastest and most improvement potential

ThroughPut AI thoroughly evaluates your entire supply chain, pinpointing opportunities for improvement across all functionalities. Improvements are then prioritized based on their potential to make a significant and rapid impact. This strategic focus ensures that your efforts are concentrated on the most promising areas, preventing the dispersion of your time and resources across less impactful initiatives.

This targeted approach not only streamlines your focus but also ensures the delivery of tangible, measurable results without the inefficiency of spreading efforts too thinly.

Key Benefit #5: Get a common operating picture

ThroughPut AI consolidates data from various stakeholders to offer a single, comprehensive view of the entire supply chain. This integrated perspective empowers you to make informed decisions across strategic, operational, and tactical levels, ensuring cohesive and efficient supply chain management.

When to choose ThroughPut AI?

• When you lack the time for large-scale digital transformation that may or may not yield ROI: If your organization cannot afford the extended timelines and uncertainties associated with large-scale digital transformation projects, ThroughPut AI is an ideal choice. It delivers quick, tangible results without requiring lengthy implementation periods, allowing you to see immediate benefits and improvements.
• When you need faster ROI for proof of concept to secure higher budgets: You need to demonstrate tangible results to your leadership team to get more budgets. ThroughPut AI drives faster results. Since it works on an outcome-driven approach, wins are registered promptly making it a compelling case for further investment and expansion.
• When you are in doubt about your data: You may have contacted other vendors and they may have suggested a comprehensive data transformation process as a prerequisite. ThroughPut AI offers a more practical alternative. It uses existing data whether it resides in ERP systems, spreadsheets, POS systems, or legacy platforms for delivering actionable insights from day one minus the need for extensive data overhauls.
• When you are looking for a tool that can be customized for your industry: ThroughPut AI can be tailored to meet the unique needs of your industry. Whether in manufacturing, retail, logistics, or any other sector, ThroughPut AI adapts to your specific requirements, providing customized solutions that address your most pressing supply chain challenges.

3. SAP Integrated Planning

SAP IBP or SAP Integrated Planning is a cloud-based solution created for end-to-end supply chain management and planning processes. It uses real-time data, machine learning, and advanced analytics to seamlessly integrate the different components of your business processes, viz sales, supply, inventory, and demand planning.

Features

• Provides actionable insights with real-time data
• Facilitates what-if analysis to evaluate potential impacts and outcomes
• Enhances cross-functional collaboration

Benefits

• Streamlines planning processes
• Enhances demand forecasting accuracy
• Empowers businesses with data-driven insights

4. Anaplan

This is another cloud-based platform for supply chain optimization software. It facilitates agile and accurate business planning, performance management, and decision-making across multiple functionalities, including finance, sales, HR, and supply chain. 

Features

• Enables seamless collaboration across departments
• Allows users to create and compare multiple scenarios
• Leverages advanced analytics to forecast trends

Benefits

• Empower businesses to respond swiftly to market changes and operational challenges
• Reduces errors and enhances the accuracy of forecasts and plans
• Streamlines planning processes
• Provides a comprehensive view of business performance

5. O9 Solutions

As an AI-driven platform, the software helps integrate various units for smoother business planning and decision-making. It also offers real-time insights and end-to-end visibility with its machine learning and advanced analytics features.

Features

• Utilizes AI and machine learning to predict demand, optimize supply chains, and enhance decision-making
• Offers comprehensive visibility across the entire business
• Enables robust what-if analysis

Benefits

• Streamlines processes and improves operational efficiency
• Increases accuracy in demand forecasting and inventory management
• Empowers strategic decisions

6. GMdH Streamline

A robust software that helps in accurate demand forecasting and inventory optimization. It supports businesses of all kinds and sizes, assisting them in streamlining their supply chain operations. Using machine learning and advanced algorithms, the tool helps optimize inventory levels and accurate forecasts.

Features

• Leverages statistical models and machine learning for precise demand predictions
• Facilitates what-if analysis
• Easily integrates with ERP systems, spreadsheets, and other data sources

Benefits

• Enhances demand planning accuracy
• Optimizes inventory levels
• Streamlines supply chain processes

Optimize Your Supply Chain with ThroughPut AI

If you are looking to optimize your supply chain without getting into the hassles of lengthy digital transformations that take forever to demonstrate ROI, ThroughPut AI is the best tool for you. 

It leverages your existing data, delivers rapid ROI, and offers industry-specific customization. 

Get started on your supply chain optimization today with ThroughPut AI.