Monday, October 15, 2012
INDUSTRY INNOVATION SESSION 1: BECOMING A "DATA EFFICIENT" ORGANIZATION USING MDM TO SPEED DATA-CENTRIC DECISION MAKING
Supply chain-oriented companies such as contract manufacturers rely on efficient, optimized business processes to ensure operational performance. But the other half of the performance equation is data. How effectively an organization fuels its business processes with information that is readily available, accessible and accurate spells the difference between leaders and laggards.
Using an Infographic, the speaker will discuss the three decision making tempos that organizations exhibit and will demonstrate how to calculate the cost of inefficiency across the defined time horizons. The session will culminate in a case study where we will learn how the CIO of a contract manufacturer recognized that its lack of data efficiency throttled business decision making and business performance for the company. Their analysis concluded that the effort to gather, assemble and analyze data for parts, suppliers, and inventory was too time and resource intensive to allow them to respond to certain business opportunities and achieve growth objectives. A decision was made to design and develop an MDM solution that was integrated into their quoting system enhancing the performance of this critical business process. The result was an increased ability to respond to more requests for quotes yielding more contract wins.
The session will discuss:
- Applying proven methods to identify the decision-making cadence of the organization
- Understanding how the time value of data is affected by decision-making tempo
- Increasing operational efficiency through MDM