The term ‘Big Data’ is constantly in the headlines, and for good reason. Harnessing all of the data that your business generates on a daily basis can be very helpful when finding ways to improve productivity and control costs. However, it is only truly helpful when you have the technology to collect meaningful, accurate data that can then be analyzed and acted upon.
In terms of the supply chain, your business likely generates a significant volume of information about your vendors and suppliers, the products you take in, and the products you ship to customers, as well as their preferences. Using disparate, specialty software programs, such as those to manage your supply chain, another for inventory, and others for financials, may offer accurate data, but it’s stuck in a silo and out of your reach. Getting your procurement team, sales representatives, and manufacturing team to send you reports takes time, then it takes more time to match up the data you get. By the time you make sense of the data you have, it’s already old. In addition, it can be difficult to observe trends and notice relationships when comparing one set of data to another. Using old, inaccurate data can quickly send you in the wrong direction.
Collecting all of your critical business data is much easier and far more efficient when you use a single, integrated solution, such as Microsoft Dynamics® AX with the appropriate warehouse management, transportation management, and business intelligence add-ons. Consolidating all of your supply chain data in a single solution will provide greater insight into your operations, as well as make it easier and quicker to access meaningful, accurate big data. You can spot trends in customer buying habits, the success of product lines, and inventory data that you can then leverage to improve productivity and profit margins. Not only will you be able to act faster to take advantage of new opportunities, you will be able to keep an eye on productivity levels and profit margins.
The volume of data generated by your supply chain can be confusing and too burdensome to manage without the right technology. Harness your big data and use it to drive growth with solutions like Microsoft Dynamics AX. Contact Blue Horseshoe for more information about using your big data instead of letting it get in the way of your supply chain operations.
By Blue Horseshoe, a Microsoft Dynamics Supply Chain ISV (http://bhsolutions.com/)