BitBytes: Get the data - Use the data
Lessons from the Aberdeen Group
According to the Aberdeen Group, developing a strategy for global supply chain visibility should be a key component of the long-term strategy for the global supply chain.
Although tracking supply chain events is essential, the long-term goal should be to turn the visibility information into a competitive asset by analyzing it to uncover trends, root causes of the problems, understand how the costs accrue along the supply chain, and be able to respond timely to supply chain disruptions.
In doing this, it is critical to ensure that the data used for analysis are accurate and complete, and that the appropriate analytical tools have been put in place.
A critical success factor in making these advanced strategies work is not to overwhelm internal stakeholders with information but to give them the tools to extract the best possible intelligence from the data they have, while keeping the amount of data manageable.
Visibility leaders show better supply chain agility
Best-in-class companies are leveraging their enhanced visibility into supply chain processes to make their supply chains more agile: if the market demands, they are able to change the direction of their shipment not just during the scheduling process, but at later points in the supply chain – after the cargo has been shipped.
Best-in-Class companies maintain their logistics agility by having a holistic view of the global supply chain and related planning and fulfillment activities. The Best-in-Class also measure supply chain performance more often and are more frequent users of the supporting internal dashboards or external scorecards.
When asked how often they used internal dashboards to make global supply chain decisions, 82% of the Best-in-Class said three or more times a week (41% said more than once a day), compared to 60% of Industry Average and 56% of Laggards. For external scorecards, 44% of the Best-in-Class indicated using them three (or more) times a week, compared to 39% of Industry Average and 19% of Laggards.