Advanced Analytics: Supply Chain Executives Speak Out
“The Keys to Creating and Leveraging Actionable Information,” published by Peerless Research Group and sponsored by Logility, highlights feedback from top supply chain executives on their supply chain artificial intelligence and advanced analytics needs as well as the current state of their systems. The study is based on a survey of 95 top supply chain executives who are readers of Peerless Media’s Supply Chain Management Review.
Supply chain capabilities in the digital age center on better information management and analytics. Use of transactional systems, disconnected planning tools, and reports summarizing historical trends may have been adequate for the supply chains of the past but are unlikely to meet the insights and optimized planning needed today.
- 86% of respondents state the ability to analyze Big Data is an important supply chain capability.
- However, 52% of supply chain executives surveyed said their current supply chain’s capabilities on visibility, collaboration and KPI measurement were either below average or average.
While companies still need transactional systems for supply chain execution, capabilities in areas such as supply chain analytics are drawing interest from enterprises. Actionable information supported by advanced analytics, algorithmic planning, and software that makes use of supply chain artificial intelligence (AI) promise to move supply chains from being reactive to proactive and predictive. To better understand this progression, it’s useful to know which information management capabilities supply chain professionals see as most important for the future, and the information gaps they are dealing with today. This study’s intent is to quantify the information and analytics needs of supply chain professionals, as well as the current state of their systems.