Decision Making Technologies in the Logistics Domain
The logistic companies are currently facing challenges with respect to the globalization and competition. The supply chain and logistics companies are now realizing that they need to move from integrated information to integrated decision support. This will further help the logistics and supply chain companies to be more efficient and effective to direct the people in the desired direction.
The integrated decision-based technologies rely on a lot of human judgment and relationships with respect to different parameters on which the judgment is based on. The companies have wired the hard engineering technology but still, have not understood the concept of soft technologies such as training of the system, concept formation to make sense of the data extracted and strategy development which further help in managing complex networks such as supply chain. Thus, the market of decision-based technologies is huge and have an application in every sector.
The organizations find it difficult to nurture, master and maintain the decision technologies. Furthermore, it is extremely important for the client to understand the decision technologies and its operational behavior to take the desired decision in a much effective manner. This will further help to enable holistic solutions.
The decision-making technologies will help to simulate, optimize and analyze the decision-making structure and solve the problem by taking all the parameters into consideration. This will further help to gain an insight into the complex problem with uncertainties and the decision-making process is facilitated for the individual and the group.
Multinational Corporation and governments are the primary clients for decision-making technologies. The local logistics companies face a huge competition from either a new entrant or the older one which revamps its strategies to achieve desired outcome. Thus, logistics companies need to attain the economies of scale to compete in the current environment. The decision making technology helps the companies to strategize the marketing, logistics, and production and also help to operate a lean and responsive supply chain.