The survey was completed by 150 automotive executives at the 5th annual World Automotive Conference in Istanbul in October 2018.More October 31, 2018
ICRON survey reveals executives’ biggest supply chain optimization challenges
Amsterdam, 10 July 2018 – “Having access to customer data” is seen by supply chain executives as their biggest supply chain optimization challenge, according to the results of a survey released today by ICRON, a leading provider of Optimized Decision Making and Supply Chain Optimization software solutions. The survey – completed by over 100 supply chain executives at the 20th annual EMEA Supply Chain & Logistics Summit & Expo last month in Amsterdam – revealed that 30% of respondents view “having access to customer data” as their greatest supply chain optimization challenge, followed by “having the right data available at the right times” with 24%, “coping with unexpected events” with 22%, and “predicting market trends” with 20%.
Alfred den Besten, ICRON’s Chief Marketing Officer, commented: “It’s not surprising that – in today’s Industry 4.0 era, when companies produce and process an unprecedented amount of data – the biggest challenges of supply chain companies are data-related. Data is used by supply chain companies to create plans and projections and make vital business decisions, and so having access to customer data and the right data at the right times is absolutely critical.”
Almost 81% of the survey’s respondents said that they know which business decisions are based on which data – while 19% admitted that they don’t know which data is used to make which decisions.
Only 35% of respondents reported that they can measure the cost of their data – which may include costs for data collection, data cleaning, data updating, and data storage and access.
“Knowing that today’s main supply chain optimization challenges are data-related, it is concerning that a significant portion of companies are unable to assess which data is being used to drive which decisions and unable to accurately gauge the true costs of their data,” den Besten added, “In order to truly harness the power of their data and use it to make optimized decisions that create business value, companies must have a firm and complete grasp on their data utilization and costs.”
Every company’s decision making, planning, and supply chain optimization problems are uniquely complex and challenging, but there is a single, simple solution: ICRON. ICRON’s algorithm-based, optimized decision making platform is capable of delivering total integration and optimization throughout any enterprise and driving greater operational efficiency, business agility and profitability. Developed in 1992 and proven through scores of successful implementations in some of the world’s largest corporations across various industries including manufacturing, automotive, high-tech and electronics, aviation, and maintenance, repair, and overhaul (MRO), ICRON possesses the power and flexibility to provide a complete, customized planning optimization solution for any company – regardless of the size or complexity of your organization.
Even if your business is facing numerous planning and supply chain challenges, ICRON has the capacity to handle multiple decision making processes simultaneously and to enable uniform and unified optimization of all of these separate processes – thereby avoiding sub-optimization and eliminating the need for multiple optimization solutions. No matter which stage of any Supply Chain Optimization Maturity Model your business falls into, ICRON’s scalable platform will provide a 100% fit for your company’s needs at its current state of development, and the pricing of the software will be determined accordingly. And as your business grows and matures, ICRON will expand its deployment, gradually offering more features to meet your company’s increasingly sophisticated requirements. This maturity benefits-based pricing model is designed to continuously deliver optimal value and ROI. ICRON’s groundbreaking Optimized Decision Making platform will serve as the single solution for all of your planning and supply chain problems. ICRON will transform your business, empowering you with the capability to visualize, synchronize, and optimize your end-to-end supply chain operations.
For more information about this press release and/or ICRON, please contact:
Alfred den Besten
VP Global Marketing