According to a recent Forbes’ overview on supply chain management (SCM), the execution of this process is more than just a one-dimensional approach to “delivering order, shipment and transactional data.”
Clearly, that’s what a manufacturer’s legacy programs provide, which is a simple point-to-point transfer of information throughout the product cycle without a strategy of analysis to draw meaningful insights.
Instead, business owners to begin embracing the use of Big Data for accurate reports and insights on materials, equipment and parts necessary to move product from the line to the customer’s door.
In some regards, a shroud of mystery hangs over the true meaning of all this data. Where’s it coming from? How do business recognize it. How do they gather it?
Outside of the enterprise, as one example in the Forbes’ article notes, sources of data run the gambit. Some manufacturers are committed to studying both structured and unstructured data to gain a competitive edge in the marketplace.
In fact at an international conference on Operations and Supply Chain management the benefit from such analytics includes more avenues of opportunities, thanks to a culture of collaboration within the organization as well as throughout the supply chain.
When it comes to structured data stakeholders are gleaning data from areas that include Demand Forecasts, Transportational Costs and Origination and Destination Costs, for example.
Unstructured data analysis looks at areas that include Machine-generated data, Email records, Blogs and News, to name a few.
To put the power of ERP systems, such as Microsoft Dynamics software to work in your company, contact us. Discover how Dynamics SL and GP, for example, can move your level of SCM to new levels of efficiency.
Written By J.L (Consulting Team)