Wiser Decision-Making: The Path to Operational Excellence with Data and Artificial Intelligence

Has your company been investing in data management, processing, and integration? This is an essential step to ground decisions based on data.

Additionally, have you implemented BI and Machine Learning solutions, such as visualization dashboards and demand forecasting? This step can facilitate and accelerate data-driven decision-making.

But now, the crucial question: regardless of the technology your company uses, how can you ensure that the decisions being made lead to optimized results?

If you don't have a definitive answer to this question, you might be surprised by the amount of financial resources being wasted. Such wastage might be putting your business at a competitive disadvantage in the market.

Let's take inventory optimization as an example, a challenge shared by nearly all companies in the manufacturing and retail sectors.

ERP systems, when combined with BI solutions, can provide impeccable visibility of historical and real-time inventory levels. And when combined with predictive Machine Learning algorithms, they also offer visibility into future demand.

However, how do you determine when and how much of each product the company needs to order on a daily basis? Most companies tend to stock more than necessary and still frequently face undesirable stockouts. But did you know that there are technologies capable of keeping inventory levels as low as possible, while ensuring that, for example, over 98% of the demand is met without delays?

Similar challenges are also found in sourcing and procurement, production scheduling, and transportation planning, just to name a few.

As data becomes more accessible and technology advances, it is crucial that we dedicate more time to identifying decisions that can be prescribed by algorithms and automated. This practice will allow you to achieve truly optimized results and stay ahead of the competition.