Data is only an advantage if
you understand three key things: how to collect it, how to react to it, and how
to transform it into successful strategy.
As former U.S. Secretary of
State Colin Powell once noted, “Experts often possess more data than judgment.”
Certainly, the same holds
true for supply chain data. You can collect mountains of data but what are you
comparing it to? And what payback are you receiving from the time and energy
spent gathering, interpreting and analyzing this information?
I know that you’ve heard of
Business Intelligence. Now, companies have the opportunity to dig deeper into Supply Chain Intelligence SM. Basically, Supply Chain
Intelligence equals analytics plus benchmarking and best practices. It’s
a new way of turning the supply chain inside out to understand company
operations from both an internal and external angle.
It uses scorecards as an
easy way to view how areas of the organization such as supplier relations,
inventory and transportation are performing as compared each other and to
leaders in your industry. Even better: Supply
Chain Intelligence uses a powerful SaaS platform.
So, less time collecting and
analyzing data and more time reacting to it to improve operations – this is the
right way to use “intelligence” and the wave of the future.
Go!Go!Go!
Jim
More Resources
Supply Chain IntelligenceSM: Next-Generation of Benchmarking and Analytics is Powered by SaaS
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Webinar: Next-Generation Supply Chain Intelligence: Analytics + Benchmarking
Photo Credit: Jorge Franganillo