Data is the Core of Distribution
In the post digital-age that we live in, data and information has become the heart of most distributors. Data can be used to identify flaws in the company’s operations as well as reveal opportunities to improve processes. Modern-day distribution processes are well planned and dependent on the data that is fed into the distributor’s ERP system, which processes the data to help the distributor identify patterns and tends that can add value to their business.
With data becoming such a critical piece of the distribution process, it has also presented a few unique challenges that distributors need to overcome.
Distribution networks can easily contain millions of separate data-points. With that many points of data, a company can be completely inundated and overwhelmed, leaving them unsure on how to leverage that data for increased productivity and growth. Here are a few ways to overcome data inundation:
Data is something that every company wants to use to help them improve their processes, but before a business can make any decisions with data, they have to understand what that means. An organization may want to jump in head-first and absorb every bit of data thrown at them, but they should first develop data analytic techniques on a smaller scale. Then, after they are able to show an ROI (return on investment) with their smaller data streams, then they should move into using data on a larger scale to make decisions.
Identifying and Using the Right Data
Many distribution companies don’t want to get behind and invest
While historical data has its own importance, distribution companies need access to real-time data most of all.