In the age of big data, companies are accumulating mountains of it. Data is gathered by every department in an organization on a countless number of parameters. The supply chain function is not different. How are we performing? How many units have we sold? Where are my goods in the supply chain right now? How many units are lost in the supply chain? How much am I spending on packaging? Is my packaging adequate? How many of my goods are damaged in the supply chain? Could I reduce my packaging costs somehow?
The number of questions that we ask ourselves daily is constantly growing. One more question we should ask ourselves is “What are we doing differently as a result of having all this data?” Today more than ever, it is important to take this mountain of data and turn it into information. Actionable information allows you to develop a plan to address challenges in your supply chain.
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