Advanced technologies like artificial intelligence, machine learning and predictive analytics carry enormous potential in transforming supply chains into more effective and resilient systems.
That potential, however, is hamstrung by an organization's ability to utilize data, which fuels AI and ML engines to better learn, understand and ultimately act.
It's like eating carrots. The more data you eat, the better your visibility. From a supply chain perspective, increased visibility leads to added predictability, efficiency and productivity.
Supply chain managers that advance their data maturity will prevail in the chaotic landscape we find ourselves in. Those that foster a community of data sharing will succeed even more, leading to a more robust, agile, aware, efficient, intelligent and sustainable supply chain.
Sharing data isn't just an idea that will help you down the road. Open sharing of data will help you and your partners immediately. Wharton estimates that the manufacturing sector alone, could realize $100 billion in efficiencies by better sharing data across its stakeholders both up and downstream.
How can we shed legacy silos and embrace a more open frame of mind?
To start, you can think about open data in the same way our enterprise customers think about open technology solutions, which allow organizations to tap into a more diverse ecosystem of vendors and be more strategic about how they tackle complex business challenges.
Swap in data for technology and you begin to see the benefits…