Value Based Supply Chain Analytics Through Solution Integration
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Key Takeaways
⇨ Supply chain analytics initiatives need to be value based, agnostic of analytics tools and technologies.
⇨ What this means is that organizations need to first evaluate how the value will be created before looking for the solution that can generate that value.
⇨ Linking or integrating multiple solutions to create value is important as well.
In our life, everything is defined by value. And that holds for the world of supply chain management as well. The concept of value stream mapping is to understand which activities within certain processes or a specific process are not adding value to the final deliverable. When we think about analytics or how we need to leverage analytics. Implement analytics. Or simply need to train our workforce in analytics approaches and methodologies. We need to explore how exactly that specific approach will deliver value. And the critical aspect to understand or keep in mind here is that value doesn't always mean profitability or cost reduction.
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