Supply chains - from the very first step of a product or service development, through sourcing, manufacture, logistics and sale - are a treasure trove of invaluable information. Centralising your processes via a robust, optimised SCM (Supply Chain Management) system is step one in transforming this data into profitability.
The next step is harnessing the data generated across your supply chain (and beyond) to ensure that your consensus plan reflects true market demand and is able to respond to fluctuations that may occur due to unforeseen events.
End-to-end transparency, analysis and efficiency is widely accepted to be driven by these three best practice pillars:
With these elements of supply chain analysis in place, businesses undoubtedly position themselves to understand their existing supply chain via the information it generates. However, there’s another step in this process that’s often overlooked as many companies don’t know it exists. It can extend an organisation’s visibility beyond what is happening now, to what’s around the corner and how that might impact the flow of products throughout the supply chain.
The world of commerce is undergoing what some describe as a “data-driven revolution”. Online operations, which have been adopted by most businesses through necessity, mean that data is being generated and collected at an unprecedented rate - every day. However, most Demand Planners and Supply Chain Managers are not data scientists, and without the right tools at their fingertips, the secrets and insights of these huge data sets remain hidden.
data is being generated and collected at an unprecedented rate - every day
There is undoubtedly fear surrounding the rise of Artificial Intelligence as people understandably question the threat it poses to their roles in life. But Machine Learning, combined with Big Data and some clever technology design, can empower professionals to do their jobs better. A clear and customisable dashboard that presents insights in an easily-digestible way, while predicting and forecasting demand in real time (not just according to business data, but millions of data points from hundreds of sources across the internet) can be extremely powerful in the right hands.
Technology can drive more informed, accurate decision making capability across a supply chain, which means greater efficiencies to companies - and better value for consumers. A fully-integrated, intelligent digital system can also deal with far greater complexity than a human / spreadsheet combination, freeing people up to focus on more profitable endeavours than data entry and formula application.
Once a business has achieved full supply chain visibility, can perform end-to-end analysis and is able to quickly adapt and respond to anomalies that occur both inside and outside of the chain, it should start working towards integrating its ERM and CRM with its SCM.
Bringing AI and ML to SCM, CRM and ERP Many businesses and platforms are beginning to understand the value of integrated business operations across SCM, CRM and ERP. Some big technology providers are even crawling towards making it happen. But all of them are missing a trick. The real gold lies in being able to […]
Why Optimised SCM matters to literally everyone When it comes to effective Supply Chain Management (SCM), few businesses fully recognise the true competitive edge it can deliver. In the past, the process of micro-managing the flow of goods that turn raw materials into customer-ready products meant slow logistics and increased costs. But today, the reality […]
Spreadsheet, meet AI. AI, meet spreadsheet. It’s no secret that Excel is the tool of choice for most supply and demand management systems. With its easy-to-navigate tabular interface and advanced filtering system, data can be easily selected and collated to make better supply chain and inventory management decisions. Excel is relatively unchallenged in terms of […]
Not all Supply Chain Management tools are created equal These days, if you’re not looking to enhance your business processes with Big Data, Artificial Intelligence (AI) and Machine Learning (ML), you’re not doing your job. While rapid digitisation of almost every business operation has brought various SCM tools to market, not all of them are […]
Big Data. Ignore at your own risk. In the beginning there was the Stone Age, then the Bronze Age and Iron Age. Skip a few millennia and here we are, in the Age of Big Data. As a business tool, the enormous amount of information generated by your business and beyond - along with the […]
To buy-back or not to buy-back, that is the question We’ve said it before, but forecasts are almost always wrong. What this means for many businesses is excess stock taking up valuable shelf or floor space. Whatever methods a business chooses to move this stock, the priority should always be to move it. Buy-back is […]
Is something missing from your SCM model? Not all retail businesses have the same type of supply chain. The path to market for a pair of shoes, for example, differs from that of a chocolate bar. So when it comes to ensuring your operations are running as efficiently as possible to meet the true demand […]
