What do customers want / look for in a product? How do you inspect goods from suppliers? How do you hit the performance targets? How do I innovate my product? How do I visualize my profit margins?
A lot of these questions today are answered by Big Data.
Value for business analytics for solving complex supply chain issues has increased in terms of investing more on ERP systems for planning and execution. Getting information for measuring and diagnosing problems in supply chains to meet targets and benchmarks are crucial for improving customer relations.
Dashboards and reports for optimizing costs, measuring key performance indicators for executives and board room to those working on the shop has brought the company workers closer as well as providing better service to their customers.
Back office functions and in general the normal operations in a company can lead to a lot of data presented but without leading anywhere on how relevant they are for decision making.
Forecasting accuracy, days still outstanding, inventory days of supply all are key performance indicators which an executive should look into. and with business intelligence and data analytics, these are better presented with interactive dashboards.
Having worked in IBM B2B for three years, I can take pride in saying that I worked on predictive analytics for dashboard maintenance for tracking the number of customer defects a company addresses. This taught me a lot about customer demand , understanding causality and predicting trends and evaluating performance.
Analytics as you can see in the above graph increases the supply chain visibility. The operations of the company enhances along with sales and manufacturing by focusing on financial planning, demand planning and supply planning and analytics integrates all of these together. These supply chain metrics can be very insightful in operational level such as functional/departmental issues like procurement.
The huge success of analytics has happened through the transaction systems for ERP, supply chain planning and implementation systems and CRM systems for getting reviews of the customer.