Big Data has led to a discussion of predictive analytics in supply chain management. I'm not sure we have a good understanding in the field of how predictive analytics differs from forecasting.
Analyst Insight: Key to driving performance and achieving your business strategy is choosing KPIs that clearly align with that strategy. This usually involves identifying three or four areas where the company needs to excel, and then defining a "balanced scorecard" of metrics that shows progress toward the business goals, as well as the trade-offs necessary to achieve those goals. - Rodger Howell, Principal, PwC's Strategy&; Derrick Austring, Director, PwC's Strategy&
Analyst Insight: In 2015, I predicted that the healthcare industry was finally sharpening its focus on profitability and efficiency. While I was writing this Walgreens moved on Rite-Aid and further consolidated the retail pharmacy market, but more importantly strengthened their negotiating leverage on price breaks. If the cost of the supply chain from sourcing to production to distribution was not a priority, it just became critical to profit margins and customer service. - Brian Hudock, Partner, Tompkins International
Analyst Insight: It is important to recognize that a consumer packaged goods company's network determines its supply chain efficiency and customer satisfaction. Designing an optimal supply chain network means the network must be able to meet the long-term strategic objectives of the company. Most business units or functional areas within a company are impacted by network design efforts; therefore, the involvement of key stakeholders is imperative. - Bruce Tompkins, Partner, Tompkins International
As pharmaceutical companies have expanded target markets and outsourced production over the last decade, the supply chain has become increasingly global, virtual and vulnerable. As a result, counterfeit activity is thriving - and patients have suffered and died from counterfeit and contaminated drugs.
Analyst Insight: Not only is the supply chain market in the cloud growing, but a growing element in the portfolio is the supply chain network. Today, supply chain processes that call for collaboration such as transportation management, track and trace and procurement rely on the cloud to get the job done. But the supply chain network is a unique approach that facilitates complex multi-party supply chain processes and transactions. - Ann Grackin, CEO, ChainLink Research
Analyst Insight: Not too long ago, many supply chain professionals were skeptical of adopting a SaaS delivery model for their solutions. There was a hesitancy to move their solutions off premise, into the cloud and pay a subscription. How times have changed. Supply chain solution providers are all moving to the model or designing native solutions that are cloud-based. - Guy F. Courtin, Vice President & Principal Analyst, Constellation Research
In today's business world, technology has opened the door to reaching and attaining a whole new customer base. The development of e-commerce has presented distributors with the opportunity to target not only businesses but also the individual consumer, converging the B2B and B2C markets.
The good news it that about half of U.S. companies say they now have some form of big data initiative in place, according to a recent study. The bad news: Few have managed to reach their data-related goals.
