Data has many uses in the World today, from increasing the insights that companies have on their customers to helping co-ordinate relief efforts in disaster relief situations.
It is also having a huge impact on the way that supply chains and inventory are optimized.
Technology, powered by data, has allowed supply chains to contain some of the most advanced and complex tech in the world. There has been excitement in the media surrounding the use of drones in Amazon deliveries, but there are arguably more impressive technologies already being used across the globe.
Potential Driver Routing
Through the use of historical data, drivers are being shown the best possible routes to take in order to save money and minimize potential wear on vehicles.
There is also live data elements included like traffic on particular routes or hazards that the weather could have created. This means that deliveries can be made cheaper, faster and more reliably.
Preventing Machinery Breakdown
Sensors throughout the machinery of supply chains can have a huge effect on the upkeep of machinery, improving efficiency and lowering maintenance costs. It means that people have the opportunity to identify a potential problem before it occurs to make sure that it doesn’t have a larger impact on operations.
Knowing where something is at any point in time is vital to knowing how efficiently your supply chain is working and keeping customers updated about when they will be receiving products.
Data can allow deliveries to be live tracked in order to make sure that they are on schedule and delivered in good time for the customer or depot. It can also mean that difficulties arise, it is known about well before the package is late, allowing companies to take action to reduce the disruption that delays can cause.
Stock levels have always been a fairly easy thing to work out in one small location, this being simply a case of counting it all. In multiple large location, this is not as easy. Especially with products constantly being replenished and sent out.
Therefore, having a centralized system that pulls data from every location to give global stock levels, yet still allowing for localized levels to be identified is essential to being able to have an effective global supply chain. If an order comes from the opposite side of the world, the company needs to know if a local distribution centre has an item in stock, and if not, how quickly they can get it.