Visibility across the supply chain is very critical to improving performance as well as democratizing and optimizing the supply chain by making data freely accessible to all process participants and stakeholders, including customers. The use of supply chain visibility tools allows different supply chain units of a firm to obtain real-time and accurate data. Advanced technology solutions, such as Business Intelligence (BI), help to gain in-depth access into the supply chain, their data and allow them to make data-informed decisions.
Impact
Business intelligence has played a significant role in the supply chain and logistics domain. It has aided supply chain management companies in remaining competitive by allowing them to identify possible weaknesses and develop strategies to solve them.
Supply chain analytics and business intelligence are examples of modern solutions that assist in identifying potential supply chain risks and taking prompt action. They offer superior insights based on real-time actionable data, deliver automated recommendations, and aid in evaluating the manufacturing process through transactions. So whether it is inventory management, organizing shipments, or issuing orders, BI keeps all of the data just a few clicks away.
Transparency at a Glance
The amount of data that moves across the supply chain is limitless, and BI turns a sea of data into information that can be applied to real-world problems. Business Intelligence is highly involved in managing data such as repair costs, transportation costs, KPIs (key performance indicators) on carriers and suppliers, strategic planning, and trend research. The final figures show how the organization should respond in light of its performance and commercial goals.
Dashboards and scoreboards, for example, are BI features that give a complete summary of a company’s performance (daily, weekly, and monthly) to help keep track of development. Moreover, it provides actionable insights and not just data.
Gain Pace and Quality
Speed is crucial in supply chain analytics as well as manufacturing analytics, both for physical processes and for information. Also, it’s not enough to collect data about supply chains and issue a few notifications. Business Intelligence proves to be a blessing here by quickly delivering powerful reports.
Business intelligence aids in both daily operational and strategic decisions. Powerful BI tools send vital reports in a uniform format to all engaged teams as part of visibility solutions. They use intelligent visualization to compile and display data, making it simple to comprehend.
Analytics in Manufacturing
Manufacturing is known for producing a large amount of diverse data that is difficult to manage and analyze, particularly with the proliferation of the Internet of Things (IoT) devices. Analytics and BI can combine and present relevant data, managing the overall manufacturing process better and eliminating data silos. Machine performance, shift performance, throughput, quality, and scrap rates are just a few of the critical production issues that analytics and BI can help with.
Using business intelligence in manufacturing to filter through and analyze data will help a company become more competitive, leaner, and productive. BI provides access to the right kind of data in the proper format and depicts the inefficiencies in the manufacturing processes. BI helps in supply chain management, inventory control, and operational efficiency improvement.
Leveraging Business Intelligence in Different Supply Chain Applications
Gaining the ability to visualize supply chains intensely and consequently strengthen them requires integrating BI. It provides a comprehensive strategy to enhance supply chain operations, business performance, and customer satisfaction. Having a top analytics partner on board would pave the way for not only adapting BI but also embracing new BI breakthroughs as the supply chain grows.
Time to gain end-to-end supply chain visibility with leaders in analytics – contact us!