KPMG: data as an asset in the supply chain
For supply chains around the world, data is now considered an essential tool to achieving success. Companies are seeking new ways to unlock the true value of data in order to utilise it and drive growth in the industry.
The leading multinational professional services network, KPMG, has released a report called “Data as an asset” which highlights the effect that data is having on companies’ operations and offered ways in which it can be leveraged successfully. With organisations globally looking to discover how to use data as a tool to extract as much value as possible, it is expected that over the next five years companies will seek to adopt the following four key data principles into their processes.
Clarify data accountabilities across the enterprise.
Embed data fluency across the enterprise as a strategic imperative.
Move data curation into the business as a core competency.
Reimagine a frictionless data supply chain.
“Only 17% of organisations say they are very or extremely effective at maximising the value from the data they hold.” - Harvey Nash, KPMG CIO Survey 2019.
“67% of CEOS believe their organisation could significantly improve its understanding of its customers.” - KPMG CEO Outlook 2019.
“Only 18% of organisations feel they are very or extremely effective at maintaining an enterprise-wide data management strategy.” - Harvey Nash/KPMG CIO Survey 2019.
In order to harness the power of data, KPMG professionals have outlined a few common strategies.
Create a data value proposition grounded in business imperatives.
Clarify functional accountabilities built into the operating model.
Start the organisation's journey toward data literacy.
Manage the cultural shift.
KPMG states that a frictionless and widely accessible data supply chain can be achieved by embracing new approaches such as data virtualisation, microservices, data as a service (DaaS) and Lambda data processing architecture. Through the implementation of these enablers, the data supply chain can be made significantly easier to access, manage and use data.
To read the full report, click here!
For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.