Wednesday, April 24, 2013
A recent report from Bloomberg Businessweek Research Services titled Supply Chain Innovation Driving Operational Improvements illustrates how crucial innovative supply chain tools are for corporations that want to meet performance expectations and complete complex processes. The survey polled 318 vice presidents, directors, and C-level executives who represent companies in several sectors for the report. They indicated that the next two years will see an increase in the adoption of supply chain tools to better manage business processes. While 75 percent of decision-makers said forecasting and planning tools help achieve certain goals, supply chain visibility technology that optimizes real-time data is becoming more important.
To achieve an integrated, real-time supply chain, advanced management solutions are needed as well as data analytics technology that can translate real-time reports into actionable insight to support changes or strategies moving forward. Real-time information supports decision making and enables a more flexible environment in which supply chains can respond quickly to market dynamics and consumer demand.
Seventy-three percent of survey participants said supply chain analytics tools are important to their companies' goals, and 71 percent said analytics tools need to be more predictive. To enhance the ability to forecast supply chain performance, 73 percent of respondents said that by 2014 they plan to upgrade their software with supply chain analytics tools, and 71 percent said they will install supply chain traceability tools.
Other key findings in the report are:
Click here to view the complete report.