"Manufacturing firms use only a small percentage of the potential value from the information they collect, organize and syndicate," says Bob Ferrari, director of supply chain strategies at Manufacturing Insights and author of this report. "We look at the broader potential for this information to be shared across functional and organizational boundaries and find that improving the return on information employed requires a holistic view of company performance, which we call IT Economics."
In this report, Manufacturing Insights utilizes its IT Economics framework as well as its unique approach to benchmarking supply chain capability to identify best practices from some of the most successful (and profitable) companies in the industry. The report also reveals specific actions for businesses to establish more intelligent decision making models in supply chain processes, including:
-- Achieve top-management and active support to improve overall supply chain decision making
-- Establish an action team of company stakeholders to identify objectives for intelligent decision making
-- Enhance supply chain benchmarking initiatives by studying best-in-class companies
Ferrari adds, "Competitiveness and profitability will reside with those companies demonstrating a more intelligent supply chain strategy that can predict or anticipate customer demands, and leverage all forms of information and quicker decision-making as a substitute for inventory and cost."
Additional recommendations and findings can be found in this report entitled "Intelligent Decision Models: Getting the Most Out of Supply Chain Management" (Document # MI10172), available at http://www.manufacturing-insights.com.
About Manufacturing Insights, An IDC Company
Manufacturing Insights, an IDC Company, provides business and IT decision-makers with fact-based research and analysis to inform and support critical business decisions. The global independent research and advisory firm closely follows processes associated with the design, development and distribution of goods across markets including Discrete Manufacturing, Process Manufacturing, High Tech/Electronics Manufacturing, Consumer Packaged Goods and Retail. Manufacturing Insights' research and analysis is critical for end-users, as well as hardware and software vendors, service providers, and purveyors of IT outsourcing. Founded in January 2005, Manufacturing Insights is headquartered in Framingham, Mass.
Visit http://www.manufacturing-insights.com for more information.
IDC is a subsidiary of IDG, the world's leading IT media, research and exposition company.
Manufacturing Insights, An IDC Company Lori Piscatelli Scanlon, 508-935-4376 (office) 774-217-1330 (mobile) Email Contact or Paul St. John, 508-935-4760 (office) Email Contact