Manufacturing Data Boosts Decisions Across Supply Chain

Back in 2006, a British mathematician and entrepreneur made a bold statement, heralding data as the contemporary "new oil".

This analogy highlighted the raw, unrefined state of crude oil, likening it to the untapped potential of data.

Sateesh Seetharamiah, CEO of Edge Platforms at Infosys subsidiary EdgeVerve, mirrors this sentiment.

He argues that in the realm of consumer packaged goods (CPG) and manufacturing sectors, data should be viewed as a precious resource awaiting refinement.

"We've moved past the state where we didn’t have the oil and were busy mining for it," he says, indicating that the era of data scarcity has ended.

However, the challenge now lies in the sheer scale of data that companies amass, which often ending up fragmented, outdated, or siloed.

Accessing these data reserves can offer immense insights into consumer behaviours, significantly beyond mere sales figures.

Refining digital data into actionable intelligence

Historically, supply chain transparency was restricted to immediate customers, leaving companies in the dark regarding deeper supply chain activities. This limited visibility rendered businesses vulnerable to unforeseen challenges.

However, Sateesh notes improvements in supply chain collaboration, especially in the wake of the pandemic.

Ecosystems have started valuing data sharing, with leading companies opening their repositories.

For instance, Walmart has deployed a sophisticated data suite, Luminate, to empower its suppliers with actionable data.

Despite these advances, suppliers still face hurdles in effectively utilising this influx of data.

From raw data to strategic decisions

So, how can suppliers surmount these obstacles to harness data's full potential?

Real-time insights are crucial. They enable suppliers to stay competitive by identifying trending products, optimising logistics and preventing material shortages.

To convert vast data volumes into strategic assets, suppliers need an intelligent supply chain platform.

Such platforms must deliver accurate, real-time data, facilitating a comprehensive view across the supply chain.

Enhanced with AI-ML and automation technologies, these platforms ensure seamless integration and interpretation of data, laying the groundwork for informed decision-making.

Intelligent platforms also streamline supply chain management, identifying bottlenecks, optimising routes, and improving planning processes.

Sateesh highlights a success story of a Fortune 500 company that, by embracing a cloud-based data exchange platform, enhanced its market reach and operational efficiency.

Mastering data for manufacturing excellence

In today’s fiercely competitive landscape, agility in decision-making and execution is paramount for CPG and manufacturing companies.

Mastery of data-driven strategies is the key to navigating market complexities successfully.

"Ultimately, companies leveraging advanced analytics will consistently outperform their competitors by delivering optimally priced products at the right time," Sateesh concludes. 

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