A recent report from the Aberdeen Group demonstrates the benefits of implementing business intelligence solutions into a company's supply chain community management program.
According to research, the so-called best-in-class companies – the top 20 percent in terms of performance – readily utilize a business intelligence supply chain initiative. Overall, 33 percent of companies researched have such solutions in place. Specifically, 20 percent of small- and medium-sized businesses and 50 percent of large enterprises use supply chain BI.
These companies, according to Aberdeen, have an average cash conversion cycle of 39 days, which is nine days shorter than the industry average. They also have an average customer service level of 96 percent and decrease warehouse costs by an average of 2 percent, while the average company experiences 3 percent increases.
Other findings show that reports for best-in-class organizations are accurate 79 percent of the time, while the industry average hovers closer to 65 percent.
Effectively managing the supply chain is important in today's global economy. Last year, the supply chain solutions management market increased 10 percent to reach $6.8 billion in revenue.
BI in the supply chain is the future of a successul strategy: