Despite the potential benefits of using supply chain data, it is important to remember that data is only as good as the insights it can provide. Companies should be careful not to get too caught up in the data and instead focus on how to use it to make better decisions. Without the right insights, data can be just as much of a hindrance as it is a help. Additionally, companies should ensure that they are taking the necessary steps to protect their data and ensure it is secure.
Companies are Wasting the Benefits of Supply Chain Data
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According to a survey conducted by FourKites, fewer than half of companies are using the data generated by the digitization trend to inform their strategies, despite the push to de-risk supply chains. The survey, conducted in 2023, revealed that corporate supply chains are awash in data, but few companies are taking advantage of the potential benefits.
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