With supply chain disruption making headlines, it's a sobering reminder of just how much companies now rely on 'just-in-time' delivery – and how we all enjoy the convenience of ordering online whatever we need and having it delivered to our door, often the next day.
Yet more than three-quarters of companies are missing growth opportunities in the supply chain, according to a report from Accenture. The professional services company says only a small number of forward-thinking companies are realising the unique opportunity their supply chains offer to better meet customer needs, fuel competitiveness and uncover growth.
Accenture highlights three areas where supply chain leaders are making smart moves – digital investments, customer centricity and ecosystems. It says this is enabling them to shift their supply chain strategy from driving cost efficiencies to powering growth opportunities and achieving competitive agility.
But the supply chain is so much more than just providing raw materials to meet a manufacturer's production schedule – or fulfilling an online shopping order by delivering a package.
You might like to read: Data-driven innovation in the supply chain
At GeoSpock we take a much wider view to include a whole host of factors that can affect the supply chain – and that can be harnessed to help predict demand, for example, or act as an early-warning system for potential 'last-mile' delivery problems.
If a World Cup tournament is being held on the other side of the world, for instance, analysing data from previous World Cups can reveal valuable insights into likely consumer demand in the run-up and during the event. This could be anything from an increase in demand for widescreen TVs from sports fans keen to follow the action at home – to a spike in online orders for beer and pizza deliveries during the event.
If the weather forecast is predicting rain, meanwhile, this information can be combined with data on areas prone to flooding at certain times of the year to alert delivery drivers to potential road closures and diversions – or to help schedulers plan alternative delivery routes and timetables.
Our state-of-the-art spatial database is uniquely placed to crunch these numbers – fusing datasets and enabling advanced, precise analytics to reveal an accurate picture of the entire supply chain, along with vital predictions of factors likely to affect it.
Armed with this kind of information, companies at every step of the way along the supply chain can be better prepared. They can more accurately predict demand and produce the right products, at the right time – for delivery to customers wherever they are and whenever they want them.