Use of Analytical Techniques for Decision Making in Sri Lankan Manufacturing Companies

Abstract

Optimising the use of resources through scientific methods is critical for efficiency and accurate pricing in the logistics industry. Analytical techniques (AT) play a decisive role in providing such analytical solutions. This paper explores the use of Analytical Techniques for decision making in the Sri Lankan manufacturing logistics industry through a survey of practices in leading companies in the manufacturing logistics industry. The questionnaire focused on the familiarity of ATs and their use in the different logistics operations. The research reviewed and classified the different AT's most widely used in solving common logistics problems (LP). Closing the gap between the theory and practice of AT in the logistics industry was aimed at through this research, by offering areas in which the industry could successfully adopt appropriate ATs. In this respect, different ATs in seven selected logistics decisions, regularly made in manufacturing firms, were discussed. The current practice in ATs was captured by interviewing leading practitioners in the logistics industry, bringing together the reasons for these gaps and their suggestions for overcoming them. The findings of the research could open up exciting areas for future research on optimisation using ATs in manufacturing logistics.

Keywords

• analytical techniques (at)
• optimisation
• forecasting
• problem-solving and decision making
• logistics activities