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The Strategic Use of Data
From:
Lisa Anderson M.B.A. - Manufacturing and Supply Chain Lisa Anderson M.B.A. - Manufacturing and Supply Chain
For Immediate Release:
Dateline: Claremont, CA
Friday, December 13, 2019

 

Have you thought about the strategic use of data? If not, you are missing a HUGE opportunity. Even in the most fundamental of businesses, having the ‘right’ data at the ‘right’ time in the ‘right’ place can not only enable quicker, more effective decision making but it can transform your business model.

Listen to David Libatique, Deputy Executive Director of Stakeholder Engagement of the Port of Los Angeles talk about the strategic value of data in the video below (thanks to APICS Inland Empire Chapter for the footage from the Executive Panel and Networking Symposium).

This topic is not just related to the vast amount of data the ports could capture (although that could be pure gold to those stakeholders), but data in general. Every client has a system of some sort. Small clients might still be on QuickBooks or are looking for the best “starter ERP” for their situation whereas others require complex ERP for process manufacturing or configure-to-order environments. That system contains vast data that can “collect dust” in the ‘data warehouse’ or be put to good use to drive business value. Which are you doing?

Do not get overwhelmed by data overload! There is no doubt that 80% of clients have voluminous amounts of data that can employ multiple people in creating reports on a daily, weekly and monthly basis. We are definitely not advocating for this end result. In our experience, whether a $5 million dollar family-owned business or a multi-billion dollar enterprise, the strategic use of data is typically not on the radar. Oddly, the big companies might not be the report mavens whereas the small might not be as nimble as we’d think! Almost every client can improve when it comes to the strategic use of data.

Instead of getting lost in the data maze, perhaps we should consider a few questions:

  1. Where do you want your company to go?
  2. Are you assessing the ‘right’ data to know if your strategy holds water?
  3. Are you going in the right direction? How can you tell?
  4. Have you thought about your data source(s)?
  5. Do your sales people have “data at their fingertips” to ensure profitable growth?

Data isn’t going to lose its power. It has been several years since I heard the CEO of SAP, Bill McDermott speak about the value of data especially as it relates to customers. Nothing has changed. In fact, most ERP systems tout the critical importance of data and several have hired what they call “data scientists” to gain a competitive advantage in the marketplace. Will you evaluate your strategic use of data? Then go beyond your internal borders and expand to your customers, suppliers, transportation partners and you might just see a vastly expanded value in the strategic use of data. If you’d like assistance navigating this process, please contact us.

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About ASCM
The Association for Supply Chain Management (ASCM) is the global leader in end-to-end supply chain organizational transformation, innovation and leadership.  As the largest non-profit association for supply chain, we are an unbiased partner connecting people around the world to the newest insights and solutions on all aspects of supply chain. ASCM transforms enterprises and empowers people with industry-recognized, global standards - like APICS and SCOR - to optimize their supply chains, secure their competitive advantage and positively impact the world.About APICS – Inland Empire
The APICS Inland Empire Chapter (APICS-IE) covers the Inland Empire region of Southern California, which spans the easternmost portion of Los Angeles county and includes San Bernardino and Riverside counties.  The chapter offers educational classes, programs and special events in the hotbeds of manufacturing, distribution and transportation activity including Ontario, Riverside and Temecula.  APICS-IE partners with other organizations supporting manufacturing and distribution such as the DMA (Distribution Management Association), neighboring APICS chapters, industry leaders and government officials in support of furthering the region’s workforce development and growth.

 About APICS – Inland Empire
The APICS Inland Empire Chapter (APICS-IE) covers the Inland Empire region of Southern California, which spans the easternmost portion of Los Angeles county and includes San Bernardino and Riverside counties.  The chapter offers educational classes, programs and special events in the hotbeds of manufacturing, distribution and transportation activity including Ontario, Riverside and Temecula.  APICS-IE partners with other organizations supporting manufacturing and distribution such as the DMA (Distribution Management Association), neighboring APICS chapters, industry leaders and government officials in support of furthering the region’s workforce development and growth.
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Media Contact                                                            
Kathleen McEntee | Kathleen McEntee & Associates, Ltd. | p. (760) 262 - 4080 | KMcEntee@KMcEnteeAssoc.com                                                 

                                                      
News Media Interview Contact
Name: Lisa Anderson
Title: President
Group: LMA Consulting Group, Inc.
Dateline: Claremont, CA United States
Direct Phone: 909-630-3943
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