TECH & AI
MANAGED DATA IS THE CURRENCY OF SUCCESS
With margins so tight any competitive edge is critical , and clean , accessible data is the surest route to success – yet how can businesses best achieve this ?
WRITTEN BY : SEAN ASHCROFT
T he use of data impacts all aspects of supply chain , including inventory management , demand forecasting , logistics optimisation and supplier relations management . But for data to be valuable , it must be clean , accessible and easily updatable . The absolute enemy of effective data management is silos , whereby data is stored in isolated systems or databases that make it difficult to share , access , or use said data effectively . Siloed data is the mother of inefficiency and missed opportunities . If one department within a firm has access to certain data but others don ’ t , this might create a bottleneck in the supply chain – as if we need any more of those .
To learn more about the problems of siloed data and how this can best be overcome , we asked an expert . Gregor Stühler is CEO and Co-Founder of Scoutbee , a global supplier intelligence tech provider . Here Stühler gives us the low-down on how businesses can leverage data to gain competitive advantage – and what they can expect to happen if they neglect the power of data .
132 July 2023