Decisions are only as good as the information they are based on, a principle that applies from the operational decisions right through to strategic direction. Poor quality data leads inevitably to either poor decisions or indecision, which can be even worse. Timely and accurate data gives you the power to plan, monitor and control effectively.
On one level supply chain systems are simply very big calculators. They have the ability to process large amounts of data rapidly and accurately. But if the data being processed, be it static or dynamic is low quality, then the outputs will be of equally low quality. Effective data management dramatically improves the performance of supply chain planning and control, allowing people to make effective decisions based on data they can trust.
Often, it can still be difficult to make a decision, simply because of the sheer volume of information available. Much of it may appear contradictory, resulting in confusion and delay. What’s needed is the ability to analyse and interpret data at a higher level without losing the underlying meaning and to report it in a way that facilitates easy interrogation and understanding.
3Peaks implement data management processes and reporting tools that ensure accurate data and support the decision making process.