The majority of today’s supply chain analytics are “looking in the rear-view mirror” when it comes to evaluating performance, but realise the potential value of adopting advanced analytics.
This is one of the findings from a global study, “Leveraging Supply Chain Data for Competitive Advantage” by visual analytics company Qlik and Supply Chain Digest.
“Despite early stages of maturity, companies see significant potential from improvements in data management and analysis,” says Dan Gilmore, president and editor in chief at SCDigest. “Not surprisingly, improved supply chain decision-making tops that list, while similarly becoming more ‘forward looking’ was the number one opportunity identified by respondents from improved data management and analytics.”
More than 40% of respondents said they are still almost exclusively backward looking when it comes to data analysis. However the vast majority expressed the belief that predictive analytics would bring value to users enabling them to leverage data at the point of decision.
“Additionally, more than 88% of respondents ranked advanced analytic capabilities as an outstanding or good opportunity for their organisation. Respondents also noted that making improvements in data and analytic capabilities was either a high priority or something they were already focused on doing.”
The study revealed that while companies are realising the value and urgency of implementing advanced analytics, few feel that they are where they need to be. When evaluating their own current capabilities generally less than ten percent felt that they had high levels of user system flexibility and empowerment, data visualisation and supply chain risk management capabilities.