Part 3 of our series ‘Supply chain trends 2022’
Data is everywhere in today’s world. Every single event in your supply chain generates data, and the opportunities to utilize all that data seem endless. At the same time, there are infinitely many tools and technologies out there claiming to solve all your data problems. No wonder many professionals feel overwhelmed by the amount of data they feel they should be using!
Turn your challenge into an opportunity for positive change! Our experts recommend the following considerations to get the most out of your data:
Where can you have the biggest impact?
The key opportunity that you can unlock by using your data better? Reducing latency. Quicker data collection, better dashboards, and suitable tools help you get the right information on the right person’s desk at the right time – dramatically reducing the delay from event to decision, and thereby dramatically increasing the impact of your decisions.
Create a first project where you demonstrate the impact of exploiting data using advanced analytics, and your data journey will be off to a flying start.
Implement and use specialized apps
In the past, companies’ data systems were composed of monolithic systems that executed rigid ERP and APS processes. These days, ever more companies see the benefits of using niche tools to solve specific challenges. Such tools can be implemented quickly: typically they are web-based and require minimal effort from IT. They provide virtual immediate return on investment and help your company go from ‘updated in the weekly batch run’ to ‘the live status’.
Add systems of innovation to your landscape
If you’re ready for the next step, look into systems of innovation. Data science platforms like Dataiku can bring advanced analytics capabilities in-house quickly. Such systems can be added to your software landscape, connecting to the systems that are already in place, like ERPs, APSs, or data lakes. These allow those hard-to-find data scientists to make the most out of their expertise, allow for easy collaboration between them and the business, and enable you to go from prototype to production quickly but robustly.
Start a center of excellence
How can you make your digital transformation sustainable? How do we take a quick once-off improvement project and turn it into a sustained mindset change towards the digital age? In all industries, companies are starting ‘centers of excellence’. A center of excellence brings together a team of data scientists, data analysts, and business experts with the purpose of using their shared knowledge to accelerate innovation initiatives throughout the broader organization.
We are here for you!
EyeOn’s team is specialized in taking your data and turning it into insights and recommendations. We can help you at every step of your data science journey: whether it is an assessment of forecasting or inventory management, forecasting a volatile portfolio using machine learning, or optimizing your inventory across all echelons of your supply chain. Explore our data science offering!
EyeOn Planning Services combines years of industry experience and know-how with cutting edge data science techniques, analyzing your data and converting it into actionable insights, providing you with the tools you need to steer your business. Or ask for our help in kick-starting your center of excellence with one of our experienced data scientists. Learn more about Planning Services!
This is the time to build resilient, agile, and sustainable supply chains, maximizing the benefits of the digitalization and advanced analytics.
Turn challenges into opportunities by clicking through the other 4 key trends: