According to the report, the top business pressures facing companies today include the need to reduce operating costs, increase service levels, enhance supply chain flexibility and improve forecast accuracy. At the same time, the ability to analyze Big Data, automate forecasting and deliver actionable alerts are considered important supply chain capabilities. Advanced analytics powered by artificial intelligence (AI) can leverage the vast amount of data available from both structured and unstructured sources to uncover new opportunities to make faster and smarter business decisions. However, only 22% of companies have implemented an advanced analytics initiative to help them achieve their supply chain and customer service goals.
- 63% identify supply chain planning and forecasting as the priority areas to utilize advanced analytics
- 47% cite a reliance on spreadsheets as a hurdle to adopting advanced analytics
- 44% plan to upgrade or implement an advanced analytics solution within the next two years
“The speed and complexity of business requires companies to quickly turn information from disparate data sources into actionable insights that focus supply chain efforts on high-impact, value added activities,” said Allan Dow, president, Logility. “As evidenced by this research, spreadsheets and legacy solutions can hinder a company’s ability to harness information from multiple data sources to significantly impact and drive the business forward. Advanced analytics such as those in Logility Voyager SolutionsTM help companies make faster and smarter business decisions, better understand customer needs and predict market trends with ease. We are accelerating new supply chain insights with prebuilt predictive analytics that minimize the cost and complexity of custom solutions which often require businesses to hire expensive data scientist talent.”
“Artificial intelligence and machine learning algorithms are quickly emerging as methods to further improve and automate algorithmic planning, and we believe their long-term promise is enormous,” commented Keith Peterson, president, Halo, Logility’s advanced analytics platform. “In particular, the adaptive learning nature of these technologies combined with the ability to handle large volumes of complex data are key factors to reduce costs and increase service levels through automation. Leveraging advanced analytics can help companies transform their supply chain by delivering greater agility to handle dynamic demand, evolving networks and rapidly-changing fulfillment strategies.”
Download the Full Report: The Keys to Creating and Leveraging Actionable Information
With more than 1,300 customers worldwide, Logility is a leading provider of collaborative supply chain optimization and advanced retail planning solutions that help small, medium, large, and Fortune 500 companies realize substantial bottom-line results in record time. Logility Voyager Solutions™ is a complete supply chain management and retail optimization solution that features advanced analytics and provides supply chain visibility; demand, inventory and replenishment planning; Sales and Operations Planning (S&OP); Integrated Business Planning (IBP); supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning and allocation. Logility customers include Big Lots, Fender Musical Instruments, Husqvarna Group, Parker Hannifin, Verizon Wireless, and VF Corporation. Logility is a wholly owned subsidiary of American Software, Inc. (NASDAQ: AMSWA), named one of the 100 Most Trustworthy Companies in America by Forbes. For more information about Logility, call 800-762-5207 USA or visit https://logilityinc.wpengine.com.
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty, the timing and degree of business recovery, unpredictability and the irregular pattern of future revenues, dependence on particular market segments or customers, competitive pressures, delays, product liability and warranty claims and other risks associated with new product development, undetected software errors, market acceptance of Logility’s products, technological complexity, the challenges and risks associated with integration of acquired product lines, companies and services, as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc’s. current Form 10-K and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., (404) 264-5477 or fax: (404) 237-8868.
Logility® is a registered trademark and Logility Voyager Solutions™ is a trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.