Managing and monitoring a complete supply chain has become exceedingly difficult due to an overwhelming amount of data and siloed systems, according to a April 2018 white paper from the Global Supply Chain Institute.
These challenges have resulted in “unnecessary risk exposure, disruptions, and delays, as well as increased costs.”
The authors note that even though conventional supply chain best practices are still valid, how those concepts are executed are evolving.
Businesses looking to transform themselves will pay attention to emerging technologies and how advanced business intelligence moves the needle.
The Technologies That Advanced BI Uses
Forward-thinking businesses will use artificial intelligence, machine learning, and cloud computing for their supply chains.
“This will help them to take better stand in the uncertain events in future,” writes CIOReview.
Using these technologies will help businesses better understand their intelligent supply chains so that they can, among other things:
There’s a reason these technologies are trending: they have the potential to revolutionize business intelligence for supply chains.
How Advanced BI Addresses Challenges
With emerging technologies powering business intelligence, stakeholders have the ability to smash silos in order to gain better supply chain visibility.
After all, the GSCI white paper notes that 84 percent of chief supply chain officers cite a lack of visibility as their biggest challenge.
“Dashboards, reporting, end-user self-service, advanced visualization, and data warehousing are the top five most important technologies and initiatives strategic to BI in 2018,” says an analysis of the 2018 Wisdom of Crowds Business Intelligence Market Study. “The results indicate the core aspect of excelling at using BI to drive better business decisions and more revenue still dominate the priorities of most businesses today.”
Each of these generates insights that ultimately lead to increased visibility.
- Dashboards help managers understand the volume and scope of services in supply chains of all sizes. Breaking down complex supply chains into digestible dashboards is a key goal.
- Self-service analytics and reporting help to improve ROI. By being able to access data, companies have the potential to see a massive return on investment.
- Data warehouses and other solutions have the ability to increase quality, accuracy, design, performance, speed, and cost of data storage and processing.
The GSCI survey found that 87 percent of chief supply chain officers said it is difficult to predict and proactively manage disruptions.
With advanced business intelligence, these emerging technologies for business intelligence are set to transform your company’s supply chain.