There is a rising awareness of the strategic value of data to optimise the supply chain. As enterprises struggle with an abundance of data from multiple channels and markets, data analytics becomes indispensable to drive business insights.
According to Gartner’s recent study, Magic Quadrant for Multienterprise Supply Chain Business Networks, organisations are increasingly focusing on supply chain business networks that include all their trading partners, which require coordination and execution of supply chain processes across multiple enterprises.
While supply chain networks are not new, these multiparty networks are channelling valuable data, which becomes a top priority in the corporate objectives of enterprises and trading partners.
Most companies have already embraced multiparty networking systems to handle big data requirements and cloud environments, moving away from traditional enterprise systems and outdated technologies such as EDI.
The ability to process and analyse big data from a variety of sources, irrespective of their structure, size, type and format, calls for a connected supply chain network, unlike the traditional setup.
Collecting data and sensing signals in real time, and coordinating, executing, and resolving issues as they happen allows companies to operate their supply chains more effectively. The focus on big data management further accelerates the adoption of supply chain networking.
As the Gartner study concludes, the supply chain networks of the future make capturing, analysing, and sharing vast amounts of differentiated data easier and faster, also with the advantage of data-intensive technologies such as IoT, telemetry and machine learning.
Implementing and upgrading supply chain networks capable of handling data does not go without challenges. Organisations have to consider network solutions that are built to manage and coordinate data and workflows across companies while looking at dramatically increasing supply chain efficiency and decision-making derived from new data insights.
Resolve Solution Partners offers its clients the ability to draw business insights from Big Data. Analytics as a Service (AaaS) allows organisations to gain deeper business insights than what is possible for standard off-the-shelf business intelligence tools.