The Modern Supply Chain: What It Is and How to Get There
Today’s pressure to digitalize supply chains is greater than ever. Major disruptions, such as global competition, extreme weather and the long-lasting effects of the pandemic, have made it critical to gain visibility and in-the-moment agility at every point of the chain.
Succeeding in this environment requires a particular approach to data. This modern method continuously funnels real-time information from various sources (suppliers, partners, warehouses, and stores) to analytics for instant insights, enabling users to take immediate and informed action.
The modern approach to data
Traditional business intelligence (BI) solutions were never intended for real-time decision-making. Thankfully, the advancement of technology is driving remarkable innovation in both the delivery and consumption of data, making it possible to establish in-the-moment awareness of your supply chain and business, through immediate information that triggers instant actions.
Modern business intelligence solutions, such as Qlik, promise to tap into the pulse of your supply chain at every moment, enabling people to take informed and timely actions as the data changes.
Qlik Cloud is a BI tool that combines data integration and analytics, giving access to real-time information and closing the gap between insights and actions. The platform helps drive growth, profitability, and business resilience, using latest technologies (such as AI and Associative Engine), innovative approach to data (Orchestration, Catalog and Lineage) and advanced security (Governance and Security).
Qlik synchronizes with various enterprise network applications so that more stakeholders can benefit from real-time data analytics.
Benefits of using Qlik Cloud for supply chains
Coordination, flexibility and visibility are the keys in the era of global supply chains. Qlik Cloud helps get a complete picture of all significant processes and data, allowing stakeholders to act at any moment. The powerful business intelligence tool benefits supply chain operations by:
- Identifying and resolving major disruptions;
- Monitoring the performance of suppliers on delivery, price, and service;
- Strengthening partnerships and negotiations;
- Managing inventory better, including costs, cycle counts, stockouts, reorders, etc.;
- Creating new value by generating adjacent revenue streams through products, services, and business models.
How does Qlik Cloud transform the supply chain?
Qlik Cloud combines disparate data sources in real-time for in-depth multisource analysis and AI-powered automation. These functionalities reduce major problems in the supply chain and allow stakeholders to:
Optimize inventory management to match supply and demand better and reduce costs
With greater visibility up and down the supply chain, Qlik minimizes the uncertainties between supply and demand, resulting in reduced stockouts, optimized safety levels, lowered carrying costs, and increased customer satisfaction. The platform allows forecasting inventory trends and needs, through predictive analytics.
This business intelligence tool enables demand-driven inventory management, maximizes efficiency, manages product and process quality, and ensures regulatory compliance.
Democratize forecasting and planning for better results
Qlik Cloud brings together and analyzes data from internal and external sources, permitting real time collaboration between everyone affected by or contribution to supply chains and visibility into the planning and forecasting process, resulting in:
- Increased accuracy;
- Optimized production planning;
- Advanced priorities with executive insights.
Instantly adapt to disruptions
Disruptions along the supply chain have ripple effects. Qlik Cloud generates predictive insights and gives better understanding of the causes behind major problems, visualizes the effects throughout the business, and models automated responses, guaranteeing immediate adaptation of the supply chain.
Paramount outcomes of the instant adaptation to disruptions include increased on-time in-full orders, higher sales revenue, and improved customer experience and loyalty.
Streamline fulfillment and warehousing
Creating an efficient, customer-centric supply chain requires analyzing customer preferences, channel availability, delivery times, and more. Qlik Cloud allows inventory management teams to easily support customer experience from one channel. The platform allows for the establishment of alerts and automation to streamline fulfilment and drive cost efficiency and satisfaction.
As a result, the business intelligence tool enables omnichannel management, creates a lean warehousing and distribution model, and controls transportation and logistics costs.
According to studies by GARTNER, 50% of supply chain organizations will invest in applications that support Artificial Intelligence and Advanced analytics capabilities through 2024.
The Qlik Cloud platform allows the shift from a passive set of tools to an active system that delivers information in real-time and compels swift action. With this business intelligence tool, users have the power to easily find data and publish it for immediate use, getting ahead of events as they unfold.
