Point of View
Riding the wave of supply chain complexity
What data driven decision-making means for logistics
The increasing need to be able to react fast and with an unforeseen level of precision to disruptive events in today’s global economy is also making logistics turn more and more to a more data-driven way of doing things. Using real-world data as an integral part of steering an organization provides the necessary agility, while still managing to optimize underlying processes. Dynamic routing, inventory optimization or running warehousing processes efficiently are just a few examples that utilize the power of data. The respective technology stack which transforms data into actionable insights comprises in essence big data, AI-powered analytics, Internet of Things (IoT), sensor technology, as well as blockchain, albeit currently still on a proof-of-concept level. Big data, for example, is more than just a buzzword. It has become essential in managing the dynamic nature of today’s logistics function. According to a study conducted with third party logistic providers (3PLs), 98% of providers regard data-driven decision making as a key success factor for future supply chain activities and processes, and 80% see big data as a core competency of their supply chain organizations.
