Supply Chains, Advanced Analytics and Tada’s Digital Duplicate.
By Rob Johannsen
If your organization is at all connected within a supply chain, you need to run fast to catch the data analytics train, as it’s left the station and is picking up speed. Not many years ago, supply chains were relatively simple. If you were in the business of manufacturing a product, chances are you were more vertically integrated and your markets were more regionally focused. Products were less sophisticated (and unconnected) and product life cycles were longer. And certainly, customer requirements were less specific, delivery expectations more forgiving and after sale support required a lower level of skills and expertise.
Data was important, but it could reside in functional and organizational silos, and it didn’t need to be widely shared, nor shared in real-time.
Today’s supply chains are much more complex as manufacturers generally rely on a greater level of purchased finished components from a globally diverse supply base, produce products in plants that are more globally distributed and in turn, sell into a global marketplace. Time to market and market understanding is extremely important to not only stay ahead of traditional competitors, but to remain relevant against a whole new breed of competition. Customer needs have accelerated as they strive to stay competitive and profitable.
Data has taken on a new importance as organizations and in turn, the entire supply chain strives to meet exponentially increasing complexities of the business. Even though initiatives like IoT are increasing the amount of data available, its widely accepted that the challenge is generally not a lack of data, but rather how to distill it into what’s relevant, how to share it and with whom, and how to apply advance analytics and put the data to work in support of the decision making process.
Generating, Displaying and Sharing KPIs
The supply chain is affected by business decisions that span a number of stakeholders: from supplier collaboration and purchasing to forecasting, demand planning, inventory management and fulfillment. KPIs that once were focused on a functional area in an organization can be established to optimize performance across the enterprise, and ultimately, across the entire supply chain.
Many organizations have adopted applications to enhance their ability to improve the access to data and how they visualize it. Through interactive, immersive apps and the ability to filter information at the user level, this has resulted in improved efforts to identify trends and present recommended paths of action. Advanced algorithms take the decision making process to the next level via predictive models and supports machine learning to automate the manual processes to bring relevant outcomes to the business.
A Digital Duplicate of the Business
As the complexity of the supply chain and the organizations within it increase, the speed at which KPIs are managed and shared, and the speed at which decisions need to be made becomes more critical, the need arises for a new means to view the entire business ecosystem. Tada’s Digital Duplicate connects, combines and associates data from all the relevant sources to create a digital replication of the business. It’s a new way of organizing data that starts with a framework based on how you think about your business, rather than a framework dictated by the rigid constraints of your data sources.
Learn more about Tada’s Digital Duplicate and technology platform here.