Data. Years ago companies wanted more of it. Now the opposite is true; companies are so inundated with data that they can’t analyze it effectively. Supply chain data, for example, resides in different systems and different formats, and often spreads across various government agencies, multiple customs brokers, and freight forwarders. On a user level, that makes reporting and analysis difficult. On an executive level, that makes strategic decision-making impossible.
Among supply chain managers, advanced analytics are top of mind right now. Most understand the value that data can deliver, but many are not utilizing the tools available. In fact, 97% of supply chain executives report that they understand how big data analytics could benefit their supply chain. And yet only 17% report that they have already implemented analytics in one or more supply chain functions.
Every decision should depend on data. Not just any data either. You need clean data, presented and arranged for analysis, whether that’s snapshot reporting for trends or a more thorough drill-down into details by country or carrier.