Do you have your supply chain under control, or do you sometimes rely more on luck? It only takes one disruption, and everything can fall apart. But data can help—offering insights into suppliers, improving planning, and addressing issues before they arise. Read our article to learn how!
Data are the foundation of a well-functioning supply chain. They play a key role in every modern supply chain. With the help of technologies such as the Internet of Things (IoT), machine learning, and blockchain, you can track, store, and analyze vast amounts of information in real time. With effective data management in the supply chain, you can easily:
- track the movement of goods,
- monitor inventory,
- and identify potential issues before they become major problems.
And why rely on data? According to a McKinsey analysis, companies that fully leverage data in their supply chains can increase their operating margins by up to 3-5%. This clearly shows that a well-established supply chain database is not just a bonus but a crucial tool for any company that doesn’t want to fall behind the competition.
Tip: Read the article https://www.benzinga.com/content/42407325/semantic-visions-wins-2024-top-software-technology-solutions-award-for-multi-tier-supply-chain-mappi, where you can learn how the company innovated multi-tier supply chain mapping and earned the prestigious award for it.
What Is a Supply Chain Database Used For?
Do you know all your suppliers, their reliability, or delivery times? If not, your job is probably harder than it needs to be. A supply chain database is a tool that allows you to have all the information in one place—from supplier contacts and delivery deadlines to the quality of deliveries.
The COVID-19 pandemic demonstrated this well. Companies that had carefully mapped their suppliers were able to quickly switch to alternative solutions when disruptions occurred. Those who didn’t maintain such records often faced delays, dissatisfied customers, and financial losses. Therefore, a supply chain database is not just a nice addition—it’s an essential tool that keeps you informed, even in crisis situations.
Data Analysis: What It Reveals About Your Supply Chain
The data from your supply chain holds far more information than it may seem at first glance. Supply chain data analysis allows you to uncover weaknesses and problems that you might otherwise overlook. For example, you may discover that one of your suppliers is consistently delaying deliveries or that seasonal demand fluctuations are overwhelming your warehouse capacity.
And what’s more—the numbers speak for themselves. According to a survey by PwC, as many as 72% of managers reported significantly reducing logistics costs thanks to better supply chain data analysis. This only confirms that working with data is not just a passing trend but a real way to improve your business and save money. Do you want to have your supply chain under control? Data is the way!
How to Manage Supply Chain Risks with Data?
Supply chain disruptions can happen at any time—a natural disaster, political conflict, or cyberattack can quickly disrupt the entire system. This is where supply chain risk data comes in, allowing you to anticipate problems.
For example, during the energy crisis in 2023, many companies in Europe and Asia faced significant supply disruptions. However, those companies that had a detailed overview of their suppliers and transport routes were able to adapt more quickly and minimize the impact. In contrast, companies that did not analyze risk data often lost time and money looking for last-minute solutions.
Interesting fact: A Deloitte study shows that businesses that regularly work with supply chain risk data are up to 30% more resilient to unexpected events. Therefore, data acts as your insurance against crises.
What Does the Future Hold?
The future of supply chains will revolve around new technologies. Artificial intelligence, blockchain, and the Internet of Things (IoT) will soon allow you to track every item in real time, share data with suppliers quickly and securely, and predict problems that you might not even anticipate now.
Imagine that your supply chain operates almost on its own—without unnecessary delays, errors, or costs. According to Gartner, up to 60% of companies plan to implement fully autonomous systems combining artificial intelligence and advanced data analytics by 2026. The result? Processes will be faster, more transparent, and cheaper—logistics costs could be reduced by up to 25%.
The future is not far off; it is within reach. Want to be prepared? Start modernizing your supply chains today.
