According to a recent survey of more than 1,000 supply chain leaders, 30% identified the need to respond to customer mandates for faster, more accurate and unique fulfillment as a top business priority moving forward.
This requires access to the right supply chain information when and where you need it and the ability to derive quick insights from Big Data. However, many companies still rely on spreadsheets and legacy systems which inhibit visibility and hide both the opportunities as well as the potential risks.
Conducted by Logility, a leading provider of collaborative supply chain optimization and advanced retail planning solutions, and APICS, the survey uncovers the priorities and challenges companies face as they embrace advanced analytics, Big Data and machine learning. The results were first published during the live APICS webcast, Accelerate Supply Chain Performance Using Advanced Analytics, now available on-demand.
● 36% identify the opportunity to optimize their inventory to balance supply and demand as a top driver for their analytics initiative
● 30% highlighted the need to respond to customer mandates for faster, more accurate and unique fulfillment as a top business priority moving forward
● 28% see the ability to blend data from multiple systems for complete supply chain visibility as a key benefit of an advanced analytics initiative
● 19% of respondents say they want to leverage machine learning to improve their company’s forecast accuracy
“Organizations can quickly become overwhelmed by the vast amount of data today’s enterprise systems, connected devices and social networks create,” said Allan Dow, president, Logility. “Leading organizations around the world have turned to Logility’s advanced analytics platform to make smarter decisions faster through greater visibility and leveraging predictive and prescriptive analytics to drive their businesses forward. Through the innovative use of artificial intelligence and machine learning we are able to better understand the dynamics that impact business, quickly uncover new opportunities and enhance customer service.”