How can organizations leverage data as a strategic asset? Data comes at a high price. Businesses must pay for data collection and cleansing, hosting and maintenance, salaries of data engineers, data scientists and analysts, risk of breach and so on.
We are proud to announce that ERIKS has selected Tradecloud to potentially process all the purchase orders of the ERIKS group.
Soon we will publish more on this big milestone for our company.
Using geoanalytics based on big data to merge and optimize delivery networks. The Boston Consulting Group provides insights into how big data is being put to use in supply chain management in the article Making Big Data Work: Supply Chain Management (free, opt-in). One of the examples provided is how the merger of two delivery networks was orchestrated and optimized using geoanalytics. The following graphic is from the article. Combining geoanalytics and big data sets could drastically reduce cable TV tech wait times and driving up service accuracy, fixing one of the most well-known service challenges of companies in that business.
Big data and advanced analytics are being integrated into optimization tools, demand forecasting, integrated business planning and supplier collaboration & risk analytics at a quickening pace. These are the top four supply chain capabilities that Delotte found are currently in use form their recent study, Supply Chain Talent of the Future Findings from the 3rd Annual Supply Chain Survey (free, no opt-in). Control tower analytics and visualization are also on the roadmaps of supply chain teams currently running big data pilots.
Enabling more complex supplier networks that focus on knowledge sharing and collaboration as the value-add over just completing transactions. Big data is revolutionizing how supplier networks form, grow, proliferate into new markets and mature over time. Transactions aren’t the only goal, creating knowledge-sharing networks is, based on the insights gained from big data analytics. The following graphic from Business Ecosystems Come Of Age (Deloitte University Press) (free, no opt-in) illustrates the progression of supply chains from networks or webs, where knowledge sharing becomes a priority.
The scale, scope and depth of data supply chains are generating today is accelerating, providing ample data sets to drive contextual intelligence. The following graphic provides an overview of 52 different sources of big data that are generated in supply chains Plotting the data sources by variety, volume and velocity by the relative level of structured/unstructured data, it’s clear that the majority of supply chain data is generated outside an enterprise. Forward-thinking manufacturers are looking at big data as a catalyst for greater collaboration.
In the next release Tradecloud will introduce real-time supplier performance. This functionality makes it possible for buyers and seller to have direct insight in the delivery performance.
Supply chain integration, automation, and analytics are among the top action items for 2017 identified by manufacturers, reported IQMS, a leading manufacturing ERP software and manufacturing execution system (MES) authority. For IQMS, the focus in 2017 will be helping its customers to address these priorities through the practical application of Industry 4.0 and smart manufacturing concepts, which have established new benchmarks for manufacturers in North America and beyond.
To make rapid decisions in today’s fast-acting environment, we need smart, time-saving, easy to interpret and most importantly decision-supporting key performance indicators (or even better Actionable Insights).
We have collected the most important for you.
As usual at the start of each year I make a summary of my supply chain predictions for the coming year. I also include some of the Gartner predictions for chief supply chain officers, though as always these predictions are more future-oriented than just what is going to happen in 2017.