Most companies are sitting on a goldmine of supply chain data that could give them a competitive edge if they made use of it, according to a new report from DHL.
It says that this data already runs the day-to-day flow of goods around the world, but a small group of trailblazing companies are using this data as a predictive tool for accurate forecasting.
The report, The predictive enterprise: Where data science meets supply chain, was written by Lisa Harrington, president of the Harrington Group.
It suggests that data mining, pattern recognition, business analytics, business intelligence and other tools are coalescing into an emerging field of supply chain data science.
These intelligent analytic capabilities are changing supply chains from reactive operations, to proactive and ultimately predictive operating models, it says, predicting that this is a blueprint for the next-generation global company – the insight-driven enterprise.
“The old ways of doing business are changing as a result of data analytics. No longer can companies run their businesses by looking through the rear-view mirror – they must now look ahead and use the supply chain data available to them to predict the future if they are to keep up with the competition,” says Harrington.
“In any global company, the supply chain is one of the largest sources of big data. It carries and produces information that affects almost every other area of the business. However, most businesses do not tap into this potential treasure-trove of information effectively, despite the fact that they recognise the potential value of doing so.”
