Logility surveyed more than 1,000 supply chain leaders to uncover the priorities and challenges companies face as they have embraced advance analytics, big data and machine learning.
The survey found that 30 percent of people identified the need to respond to customer mandates for faster, more accurate and unique fulfillment as a top business priority moving forward. This requires access to the right supply chain information when and where you need it and the ability to derive quick insights from big data. Yet, many companies still rely on spreadsheets and legacy systems, inhibiting visibility and hide both the opportunities as well as the potential risks.
Other notable findings include:
- 36 percent identify the opportunity to optimize their inventory to balance supply and demand as a top driver for their analytics initiative
- 30 percent highlighted the need to respond to customer mandates for faster, more accurate and unique fulfillment as a top business priority moving forward
- 28 percent see the ability to blend data from multiple systems for complete supply chain visibility as a key benefit of an advanced analytics initiative
- 19 percent of respondents say they want to leverage machine learning to improve their company's forecast accuracy
"Organizations can quickly become overwhelmed by the vast amount of data today's enterprise systems, connected devices an social networks create," says Allan Dow, president of Logility. "Leading organizations around the world have turned to Logility's advanced analytics platform to make smarter decisions faster through greater visibility and leveraging predictive and prescriptive analytics to drive their businesses forward. Through the innovative use of artificial intelligence and machine learning we are able to better understand the dynamics that impact business, quickly uncover new opportunities and enhance customer service."
To learn what specific business outcomes your organization can achieve through the application of advanced analytics watch the on-demand webcast: Accelerate Supply Chain Performance Using Advanced Analytics.