Embracing a data-driven culture by leveraging data and tools that provide contextualization will be the driving force that will allow manufacturers to dramatically improve their profitability over the next few years. To realize the benefits of a data-driven culture, businesses must move quickly and take a strategic approach to supply chain management including investing in the systems and technology necessary to convert data into actionable business intelligence.
According to a survey of supply chain professionals released by Clear Peak’s Supply Chain Advisory Council:
- More than four out of five respondents (81%) said their organizations view a constantly improving supply chain as a strategic asset responsible for generating revenue and providing strategic competitive advantage.
- Only 19% said their organizations view the supply chain merely as a cost center that has to be managed efficiently.
- Nearly three quarters (74%) indicated their organizations lack a strategic plan for end-to-end management of the supply chain.
- 43% cited “inaccurate data or lack of access to data” as factors inhibiting them from gaining strategic advantages from next-generation supply chain technologies.
|Source: Clear Peak Supply Chain Advisory Council. "Data-Driven Visibility and the Next Revolution in Supply Chain Management"|
The survey of 55 senior executives, operational managers and academic experts with hands-on responsibilities across multiple global supply chains, was conducted in December and January. The council has published a white paper on the survey findings, Data-Driven Visibility and the Next Revolution in Supply Chain Management, available for download here.