Elemica highlights three keys to empower supply chain execs
Big Data, Analytics and Social Collaboration are the ‘three keys’ to creating a high performance supply chain, according to supply chain integration specialists Elemica.
Utilising these three capabilities provides companies with a real competitive edge, according to a statement released by the company, which highlights the best conditions companies should adopt to allow supply chain executives to make informed decisions to drive positive change in their businesses.
According to Elemica, it is essential to create a collaborative environment of intelligent, cross-enterprise decision-making, and a pervasive data-driven culture to offer the best decision making environment for supply chain execs.
“In the supply chain world, Big Data really means capturing and analysing every piece of information from raw material procurement through manufacturing, through the distribution channels to the end customer,” said John Blyzinskyj, CEO of Elemica. “This wealth of data feeds analytics to create a comprehensive, interconnected picture of business performance and fosters collaboration leading to high operational efficiency. This allows our customers to significantly reduce their working capital.”
Analysing the data gathered from your trading partners’ supply chains dramatically improves the ability to respond faster and more efficiently to shifts in their demand, according to Elemica. Analytics also provides business specific insights in identifying and mitigating issues. It not only provides a means to act in the present based on the past but also provides a future outlook, improving forecasts, trimming inventory, reducing stock-outs, and optimizing logistics costs.
Drilling down into collected data from social networks gives businesses the ability to:
· Connect with business colleagues and external contacts
· Create peer or special interest groups
· Write and post a review of a supplier, customer or business partner
· Rate or “Like” a supplier, customer, or business partner
· Share documents and collaborate
· Create discussion forums of business related questions and topics
· Search for new suppliers using various filters
· Search for new customers using various filters
Elemica provides a supply chain operating network that automates processes across procurement, order fulfillment, and logistics, capturing data along the way, and analyzing trends and information across product, demand, and supply networks. Today, the Elemica QuickLink Network handles over 500,000 documents daily in real-time; reliably and securely.