Embracing the Art of the Possible
Let me start by thanking the Linkedin Community for continuing to fill out my surveys. My philosophy is, "You give to us and we give to you." In this spirit, today we are releasing the report on analytics and seizing first-mover advantage by embracing the Art of the Possible.
Why is this important? Today, only one in two business leaders are satisfied with their organization's ability to use analytics. Getting the correct data in a usable form to make decisions at the speed of business is a barrier for 76% of respondents surveyed. Available data and insights are critical to making the proper supply chain decisions.
While digital means different things to different companies. In this report, we find that companies deploying descriptive analytics performed significantly better in the first year of the pandemic than laggard companies.
Despite the promise of new forms of analytics, companies are moving slowly. In this study, we find only 4% of manufacturers are “the first to try.” The market became more conservative over the last decade. Over sixty percent of manufacturers consider themselves laggards. As will be seen in this report, talent development and structuring test and learn pilots are opportunities.
We find most leaders intuitively understand that there must be value in new forms of analytics but struggle internally to test and learn to drive new levels of value. The reasons are many, but an overarching issue is the inability to build a guiding coalition to actualize the Art of the Possible. The barriers are IT standardization, organizational knowledge, and the requirement for a fixed ROI. To capture the promise of new forms of analytics, teams must abandon the conventional project-based implementation mindset.
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Definition: Art of the Possible makes things forever considered impossible into provably?and?usefully?possible. Teams use analytics to unleash the art of the potential understanding of what is possible and work to actualize answers to problems that seem impossible at the time.
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Again, thanks for helping us to bring open content research to market. If you have any questions about this report, just reach out. I answer all emails.
And, don't forget to put this year's Supply Chain Insights Global Summit on your calendar. The event is designed for extreme networking and will be held at the Westin at Washington, Dulles Airport on September 6th-8th, 2022. For the event, I handpick all the speakers and facilitate the discussion. The event is designed for business and technology leaders to be equals in ideating the future of the supply chain and crafting the possibilities. We hope to see you there!
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Co-Founder & CEO @ AlphaAI | Operations Research, Engineering
3 年Brilliant work Lora Cecere! Thank you for your continuous efforts in bringing to the population Insightful newsletters, that constantly seeks to inform, educate and equip individuals with all the knowledge and skill they need.? Thank you! It's great to see that January Newsletter is based on releasing the new reports on analytics and embracing the Art of Possible. It sure is going to be such an insight-filled newsletter, just like the rest! Thank you for sharing!
Experienced supply chain generalist ?? Enthusiastic about turning supply chains into value-adding assets
3 年Very true to mention that teams need to abandon conventional project-based implementation mindset. Have seen too often that SC analytics is treated as just another IT project driven by IT.
Supply Chain Manager na WEG Equipamentos Elétricos S/A
3 年Thiago Nicolau Fortunato