Volatility and disruption are ever-present features of the modern supply chain that only a smarter and more collaborative approach to data will overcome.
Increased complexity appears to be inevitable as products and the markets they serve become more sophisticated. Fluctuations in supply and demand, along with interruptions from external events, make it harder than ever to remain resilient in the absence of greater innovation.
Companies in pharmaceuticals or confectionery manufacturing, for example, need to ensure traceability of raw materials, adapt to changing packaging requirements, and respond quickly to changes in product portfolios, for instance. Without a unified view of the data, such responsiveness is difficult.
This demands access to data and high-quality information in near-real-time, which businesses can analyse and act on rapidly to avoid problems or disruptions before they cause any significant impact. This makes it imperative that organisations have a trusted technology partner that can unlock access to unified data from across its entire supply chain ecosystem.
Transforming data architecture
Where supply chains possess plentiful data, the widespread problem of silos prevent businesses from making intelligent decisions about emerging events. Lack of data visibility gives businesses little ability to foresee potential challenges and act insightfully.
Collaboration with a data platform provider like InterSystems can be vital to businesses, helping them leverage a data architecture which can reach individual data silos. InterSystems achieves this through a smart data fabric, enabling supply chains to unify the many expert solutions which they may already employ across the entire ecosystem, seamlessly.
Built on an innovative data platform technology, the smart data fabric creates a connective tissue by accessing, transforming, and harmonising data from multiple sources, on demand. This supplies usable, trustworthy data for faster, more accurate decisions.
The smart data fabric weaves in embedded analytics capabilities, data exploration, business intelligence, and machine learning. These capabilities give supply chain operations the new insights that power intelligent predictive and prescriptive services and applications.
Such tools are a necessity if companies are to develop the agility that enables them to cope with disruptions as well as to optimise actions to respond to emerging opportunities.
Many new capabilities including prediction
By breaking down data silos and providing a unified view of their data, InterSystems empowers organisations to obtain a holistic view so that they can make informed decisions quickly and effectively.
With advanced analytics and AI capabilities, businesses are able to predict and mitigate potential disruptions before they occur. Such predictive capability is vital for maintaining stability and ensuring continuous improvement. Thus, within complex supply chains, businesses can make their operations more efficient and responsive.
They can fully optimise processes such as production planning and fulfilment. For example, in the confectionery sector, businesses possessing a connective tissue which integrates data from disparate sources can track the journey of raw materials from cocoa farms to production facilities. This level of traceability ensures compliance with sustainability standards and helps the company adapt quickly to changes in supply and demand.
The same technology allows for the ability to leverage machine learning to forecast demand more accurately, ensuring optimal inventory levels. This reduces waste and ensures on-shelf availability of popular products, enhancing customer satisfaction while making the entire supply chain more stable.
Restructuring data for long-term success
In today’s dynamic and volatile global supply chains, innovation and stability go hand-in-hand. Advanced data architectures like the smart data fabric allied to the capabilities of modern data platforms deliver the necessary agility, visibility, and resilience.
Collaborating with a technology partner like InterSystems is key to restoring stability and fostering innovation within today’s supply chains.