- THE MAGAZINE
With vast amounts of data flowing along extended supply chains, companies that can go the extra mile to integrate business intelligence with the data their supply chains produce can go the extra mile to improve supply chain performance.
A recent study by Grant Thornton LLP and Clear Seas Research examined the state of business intelligence and supply chain decision making. The conclusion was that agile companies that possess data are positioned to compete. But, agile companies that use their data are positioned to win.
- 54% of all respondents indicate that their company’s data is actionable. But, only 19% of respondents say their data is “completely actionable.”
- 59% of respondents say they have all or nearly all the information they need to make process improvements and 54% indicate that they have the tools necessary to implement process improvements.
- 26% of companies can respond to supply chain pressures in just one week, and 49% can respond within three weeks.
- However, 45% of companies take one month or longer to respond to supply chain pressures. Nearly one-quarter (22%) take three months or longer.
Just over half (54%) of all respondents rate their company’s data as mostly or completely actionable, but only 19% say their data is completely actionable. This leaves 81% with room for improvement. At the same time, nearly six in 10 respondents say they have most or all of the information they need to make process improvements, and 54% say they have most or all of the tools necessary to implement these improvements. In summary, the data is available and actionable.
One-quarter (26%) of companies can respond to supply chain pressures* and marketplace changes in just one week, and one-half (49%) can respond within three weeks. More than one quarter (29%), however, indicate that it takes at least two months to make changes. This is particularly common with higher-revenue companies, which tend to move more slowly than lower-revenue companies. Only 26% of lower-revenue companies take two months or longer to respond, compared with 38% of companies with revenues over $100 million.