Definition: Goods Flow Analysis and Simulations is an IT concept that involves the use of technology to analyze, model, and simulate the movement of goods in a supply chain. It helps in optimizing the logistics and operations, reducing costs, and improving efficiency. Source: Investopedia Source reference: https://www.investopedia.com/terms/s/supplychain.asp Additional information: Goods Flow Analysis and Simulations is a critical aspect of supply chain management. It involves the use of various IT tools and software to track and analyze the flow of goods from the point of origin to the point of consumption. The analysis can include various factors such as transportation methods, storage facilities, and handling procedures. The simulations are then used to predict the outcomes of different scenarios and strategies, allowing businesses to make informed decisions and improve their operations. This concept is particularly useful in industries such as manufacturing, retail, and logistics where the efficient movement of goods is crucial. Example: Examples of application include a manufacturing company using Goods Flow Analysis and Simulations to optimize its production line and reduce waste. A retail business might use it to manage its inventory and ensure that products are always available when customers need them. In the logistics industry, it can be used to plan routes and schedules to minimize transportation costs and delivery times. LOST view: OV-Customs Functional Architecture Principles Identifier: http://data.europa.eu/dr8/egovera/GoodsFlowAnalysisAndSimulationsBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:GoodsFlowAnalysisAndSimulationsBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-08-08 dct:identifier: http://data.europa.eu/dr8/egovera/GoodsFlowAnalysisAndSimulationsBusinessService dct:title: Goods flow analysis and simulations Digital Public Service