The RILA (Retail Industry Leaders Association) annual Supply Chain Conference is one of the highlights of our year. This year’s conference, held in Phoenix, AZ, was well attended and featured speakers from some of the retail industry’s biggest companies, including Kim Vaccaro, senior manager of global supply chain solutions for Home Depot, Chris Baer, senior vice president of human resources, global supply chain at GAP, Inc., and Caroline Wanga, chief diversity officer at Target.
Forget Big Data, The Right Data is What Matters
In the early days of RateLinx, I often had to make the case for using technology to leverage clean, actionable supply chain data in a strategic logistics management operation. Thankfully, everyone now understands that data is the key to effective supply chain management.
This was evident in the conversations we had at RILA; most of the companies that we talked with were focused on leveraging data. There were a lot of different metaphors used to describe how companies are approaching their data. Some companies have an initiative to build a “Data Lake.” Others are building a “Data Foundation.” Some have simple “Data Feeds.”
The problem with all these metaphors is that they operate on the principle that all you must do is put all your data in one place and you instantly have value. The question that they’re not asking is: “What data do we really need?” Instead of using a fancy metaphor to talk about data, companies should be focused on collecting data to build strategies. This will force you to focus on collecting the right data, with the right context. For a company to become a data-driven company they must do three things: 1) Collect data; 2) Collect the right data; 3) Use the data to make decisions.
The Right Solution for Your Data Needs
The biggest change we’ve seen in our years of attending RILA is how corporations are increasingly using technology to aid them in making decisions. Technology is advancing so quickly that it’s able to provide much more value – especially when it comes to the supply chain.
The RateLinx solution stands out because it starts with the end in mind. We know that the data being collected by the RateLinx solution is being used to make decisions. This basic design means that our software is designed not only to collect data – but the right data. We can then focus on making the data actionable for easy decision making.
Instead of collecting all the data, then spending an exorbitant amount of time sifting through the data to find the pieces you need for a decision, our solution allows you to begin using the data for decision making which will affect the bottom-line much faster.
Tackling Today’s Logistics Challenges – and Tomorrow’s
Managing your logistics has never been more important or more challenging. The consumer is challenging retailers to give them what they want, when they want it, and where they want it – at a speed that is almost instant. This variety and speed can cause a retailer to overspend on strategy without the right data or the proper metrics to measure their performance. With Radar Track & Trace, a retailer can make the most cost-effective decision that will meet the consumer’s need. When a ship date is missed by a day, the retailer doesn’t have to immediately use a next day delivery service if another less costly service can still meet the consumer’s delivery date.
Would you like to talk about how RateLinx can help your company? Send me an email and we’ll get the conversation started.