Data is meant to make life easier, but too much of it can make things much more complicated… Especially when it comes to supply chains and all those moving parts!
With the Fourth Industrial Revolution now in full swing, data has become more readily available than ever before. As was prophesised more than five years ago, data is transforming every aspect of a manufacturer’s operations, from design and testing to production and end-use.
However, the instant benefits haven’t been felt by every business. The huge volumes of data being collected has left many executives and managers drowning in a sea of numbers with no clue as to what to dataset to use, where, how, or even what it represents.
The supply chain is one of the business areas that has become awash with data. From leaving the factory, it is now possible to monitor a wide variety of metrics regarding the product – and it’s critical compoentnents – that you’ve just created.
However, gathering data purely for data’s sake isn’t going to result in better visibiltiy or decision-making. This is where analytics engines play a vital role in mining the data your busienss is collating. Analytics allows your organisation to make sense of raw data.
Supply chain analytics provide transparency and visibiltiy across your supply chain, allowing you to make smarter decisions thanks to a birds-eye view of the entire operation.
A recent research project by FICO has taken an in-depth look in to supply chain analytics and optimisation. FICO will be presenting some of the findings from the report in a webinar hosted by The Manufacturer.
The webinar will take place at 11:00am on May 25, and will discuss:
- Top reasons why supply chain optimisation efforts fail to achieve their full potential
- Leading supply chain optimisation initiatives that are driving business performance, collaboration and innovation and detailed use cases
- What some organisations are currently doing to realise the full benefits of their supply chain optimisation efforts