How Predictive Analytics will Transform Your Logistics
Have you ever heard the phrase: ‘logistical nightmare’?
It exists for a good reason. Logistics management can easily turn into a headache without the system in place. The challenge to have the right products, in the right place, at the right time is always a big focus for airlines.
When it comes to inventory management, many systems will forecast a flight’s needs based on historical data to predict what’s needed onboard.
The truth is, history isn’t always an accurate forecaster for the future. There could be last minute stops that occur, a complete change of aircraft that will require less or more products, or special events around the world that will affect consumption.
If an airline can accurately forecast what’s needed on a flight, it will save money and time. Our SkyLog system, one of three parts of SkySuite along with SkyLoad and SkyTrack, is unique in the way that it uses predictive analytics to accurately forecast by looking at the future, not past patterns.
SkyLog looks at the airline’s flight schedule right up until it departs, so there’s real time integration of the situation. We have an up to date count for passengers and loading (due to SkyLoad integration), so without any given history we know what needs to be loaded onto an aircraft at any given day.
A unique perk of SkyLog is that it uses predictive analytics to calculate what it expects will come back from the flight. It takes into account the use of rotables and disposables, breakages and accidental discarding. It also considers factors such as flight times and likely cultural behaviors, for example, a night time flight would be more likely to consume more wine than daytime.
The upshot is that accurate predictive analytics will avoid airlines having to unnecessarily ship more to catering stations, who then have to hold big buffer stocks, so as not to disappoint passengers.