To conclude the 10 Reasons to Build a Control Tower Series, this blog we will seek to explore the final key reasons as to why such a device should be built and utilised within organisaitons across the globe. Previously, it was uncovered that the Control Tower is a key player in enabling business to obtain cross-functional views, improve their decision making capabilities and ultimately optimise their supply chain performance. Yet, what else does the Control Tower enable firms to achieve?
8. Leverage the Power of Big Data
What value does big data really hold for businesses?
Today, the scale, scope and depth of data which our supply chains generate is rapidly accelerating. Limited supply chains are now evolving into multifaceted, dynamic and connected value webs, and as a result, we are now bombarded by significant amounts of competitive and conflicting information. But how do we make sense of all this data? And how do we identify discrepancies and obtain useful insights when we are surrounded by a vast, and ever growing, array of information?
To reap the benefits of big data, we need to develop new strategies. We need to build effective tools to analyse the information we acquire, and we need to obtain useful insights buried within it to support our decision making. Because after all, data in itself is really no value at all. Its value comes from being of a process that collects, stores, analyses and transforms insights into business actions that drive forward improvements. Arguably, the Supply Chain Control Tower largely assists firms overcome the challenges faced. The tool strives to consolidate all data obtained within the business into a single place, and therefore enables users obtain valuable understandings and insights to improve their decision making capabilities.
A recent report my Accenture only highlighted the major business value which may obtained from the utilisation of big data. According to the survey, although it was found that 97% of respondents believed that big data analytics would benefit their businesses, only 17% of respondents have already implemented analytics within one or more areas of their supply chains. Clearly, such statistic highlights a major opportunity for firms to cease competitive advantage through the use of big data analytics, obtained through the utilisation of a Control Tower.
9. Empower Your Enterprise with Real Time Decision Making
… Because time is the one asset we cannot replace
External upheavals can occur at any time. But how do we respond to them? How do we act fast, when our supply chains are now increasingly complex networks? In today’s world, timing is a critical success factor. We need to understand what’s happening, when it’s happening.
Through the Control Tower’s real time capabilities, timing is no longer a major issue encountered by firms as the device enables users to monitor their business process in an up to the second fashion. With such device, businesses can react faster to events impacting upon their operations, as soon as they arise. They can uncover trends and patterns in an ad hoc and empowered manner, and as a result potential disasters can be overcome.
For example, with the Control Tower, users are able to track inventory and consistently monitor their shipments. If issues arise, businesses are immediately notified of the issue, and can take steps to solve the problem before it escalates. Now let’s suppose a shipment is lost. With the help of the Control Tower, users are immediately notified of this occurrence. They can identify alternate routes and can transport additional stock from warehouses else where in order to ensure that the product reaches the customer by the set time. By immediately identifying these issues, we can find more effective and cheaper ways to overcome the issues we face, and as a result we are able to deliver consistent, efficient and resilient supply chains.
10. Gain End-To-End Visibility of Your Supply Chain
Imagine if we could know the unknown
In today’s business environment, we need to strive to make strategic decisions that impact not only upon specific business functions, but upon our entire end-to-end supply chains. We need to have a greater understanding into what’s happening faster, and we need to engage more closely with the “bigger picture”. Yet, how can we manage what we cannot see?
In a recent survey it was found that 80% of respondents stated that they have no-full visibility of their supply chain. However, when reflecting on today’s current business environmnet, it seems visibility is a critical strategy for enterprises aiming to reduce costs and improve their operational performance. Imagine if we could know the unknown, if we could track things which we previously could not see. Imagine if we could outsource our logistics more effectively, if we could improve our customer service levels, and if we could lower safety stock levels. Through the utilisation of a Control Tower, businesses are able to achieve all of these capabilities. The device provides users with end-to-end supply chain visibility, and therefore enables users to continiously track their processes, inventory and data at all times.
So What Are You Waiting for?
“Whoever desires constant success must change his conduct with the times”
Ironically, in today’s world the companies who are most determined to improve and further develop themselves are already in the lead within the market place. It is those who are able to manage the challenge of growing complexity. It is those who are able to produce and distribute products to customers on time. It is those who are able to consistently deliver high levels of customer service that ultimately lead their competitors in our current competitive landscape.
Maintaining and sustaining old systems is now a risk. Putting in place short term fixes and doing what ever you can to return to your old ways of operating is no longer a feasible solution. Having entered an era of dramatic transformation, as a result of a combination of accelerating technological advancements and widespread experimentation with new operating models, we must now be innovative and disruptive to be competitive.
So, why be a follower when you can be a leader?
To refer to previous blog posts within this series: