HOW TO USE ANALYTICS, METRICS, AND KPIS TO MEET ON-TIME IN-FULL (OTIF) PERFORMANCE GOALS
Seeking better on-time delivery rates, visibility, and inventory management processes, more companies are leveraging analytics, metrics, and KPIs to streamline their supply chains, cut costs, and enhance customer service levels.
Introduction Data-driven decisions that are rooted in relevant, trusted data, supply chain analytics are critical tools that companies across all industries are using to operate smarter, better, and faster. Driven by the proliferation of data—the world will be generating 463 exabytes of data daily by 20251, or roughly the equivalent of 213 billion DVDs—more companies are leveraging the key performance indicators (KPIs) and metrics that help them harness this ever-growing pool of data. “Supply chains are a rich place to look for competitive advantage, partly because of their complexity, and partly because of the significant role they play in a company’s cost structure,” according to a recent Deloitte report2. “And with the power of new analytics, companies can now fine-tune their supply chains in ways that simply weren’t possible in the past.” Good supply chain analytics help organizations utilize historical enterprise data to feed predictive models that support better decision-making; identify hidden inefficiencies and save money; and get a more holistic view of total organizational profitability. Expected to reach $7.1 billion in revenues by 2023 (up from $3.6 billion in 2018)3, the global supply chain analytics market is well positioned to help