The supply chain management landscape is undergoing significant transformation, particularly in the realm of big data and advanced analytics. As organizations increasingly recognize the potential of data-driven decision-making, integrating advanced technologies into supply chain processes is becoming a priority. APQC conducted a study involving insights from 310 supply chain professionals across various industries.
Here are some key research highlights about the status of organizational structure, effectiveness, and benefits for adopting advanced analytics in supply chain.
- ORGANIZATIONAL STRUCTURE FOR ADVANCED ANALYTICS- The most common approach for conducting advanced analytics is using an internal centralized team (33% of respondents). Benefits include efficient decision-making, faster implementation, and reduced costs. Additionally, 25% of organizations use a hybrid model, combining a centralized core team with decentralized staff in business units.
- EVALUATING THE EFFECTIVENESS OF ADVANCED ANALYTICS- APQC's research finds positive news: the use of advanced analytics in supply chain is highly valuable to many organizations. A significant percentage of respondents (72 percent) have found advanced analytics to be very or extremely effective in producing supply chain insights for their organizations.
- BENEFITS TO LEVERAGING ADVANCED ANALYTICS IN SUPPLY CHAIN-In addition to generally finding advanced analytics to be effective, supply chain organizations have found a number of specific benefits of adoption, with higher employee productivity and greater forecast accuracy at the top. The top five benefits reported are:
- Improves employee productivity
- Improves forecast accuracy
- Enables analysis of unstructured data
- Reduces analysis and forecasting cycle time
- Provides the ability to model hypothetical scenarios
Learn more in APQC’s Advanced Analytics in Supply Chain: 2024 Current State
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