In this final episode of PorterLogic's "What Happens When You Click Buy" series, we will discuss the importance of reporting and analytics in managing supply chains efficiently.
The main question for this episode is: how can you monitor and optimize operations to have measurable metrics for improvement?
One critical aspect of any operation is its ability to improve, which requires measuring success or failure through key performance indicators (KPIs). For instance, reducing food waste or optimizing space utilization can save money but require actionable data insights.
Consider using business intelligence tools like Power BI or Tableau to access valuable insights from various systems, such as warehouse management, order management and shipping systems. However, reaching that stage can be challenging due to system integrations and consolidating data from multiple sources.
Investing in reporting early on helps track KPIs effectively. A crucial component of reporting and analytics involves integrating data from different processes into a single format for analysis. This could include inventory information from multiple third-party logistics providers (3PLs) who might use different file formats.