Get your copy of the 7th Annual State of Smart Manufacturing and hear from 300+ manufacturers in this new survey report!
No matter the size of the company, decisions made by managers, leaders, and other key decision-makers define the success of any enterprise. And few areas are as important as decisions made concerning a company’s supply chain.
Yet the numbers indicate that many of these leaders have limited data where their supply chain is concerned. Studies indicate that as high as 62% of companies have limited visibility on their supply chain. The data goes on to show that an additional 15% has supply chain visibility only in the production area.
To make the best decisions at the highest levels, supply chain reporting should be aligned with financial, operational, and sales strategies to provide leaders with reliable data for their Sales and Operations Planning (S&OP). To do this, it is critical that the supply chain metrics and KPIs leaders access should provide them with actionable knowledge in line with other key areas. “The supply chain reporting should provide a balanced view on customers, demand, and supply as well as on financials”. (Deloitte)
By defining the correct set of supply chain leadership KPIs, the entire organization is then able to work toward a unified goal. Combined with transparent data accessible throughout the operation, planners and line employees can proactively incorporate progress toward these goals into their everyday completion of tasks.
Here are a few key supply chain KPIs and metrics to consider for leaders and decision-makers:
With accurate, relevant metrics, leaders, and decision-makers can set goals, develop strategies, and focus on process improvement that guides the company to higher profitability. But analyzing and formatting this information is time-consuming. It is also beyond what human analysis can accomplish on its own.
Automation software that focuses on supply chains can provide the tools and resources needed to power these metrics and get them into the hands of those who need them quickly. Using advanced algorithms, near-real-time data, and rich visualizations, this software can give leaders the information and insight they need to make good decisions quickly.
Intuitive and best-in-class software platforms by Plex DemandCaster such as Inventory Forecasting and Optimization software, Demand and Supply Planning software, and others can provide you with the analytical tools needed to not only provide these metrics and KPIs to leadership. They also provide actionable data to make changes and adjustments that result from these KPIs – adjustments that will improve and optimize your supply chain moving forward.