Poor information flows across supply chain operations are potentially costing UK firms £1.2bn ($1.9bn) every year in lost sales, according to a new report from Oracle.
The report quizzed 100 supply chain executives at firms with over 250 employees and revealed consequences of poor supply chain information flows, including missed sales opportunities, inability to supply peaks in demand and unhappy customers, which can all hinder growth and recovery.
The survey, called The Fragmented Supply Chain, turned up a number of worrying statistics about the state of supply chain management. Each supply chain executive spends an average of 48 percent of their time sifting through spreadsheets, emails and databases to keep on top of the information flow. Worryingly, one in three companies admitted to seeing physical products flow faster than, or as quick as, information across supply chain.
