Only 26% of supply chain companies use data, algorithms, and organizational input to make business decisions, ICRON survey reveals
Amsterdam, 11 December 2018 – Only 26% of supply chain companies utilize data, algorithms, and organizational input to make business decisions, according to the results of a survey released today by ICRON, a leading provider of Optimized Decision Making and Supply Chain Optimization software solutions.
The survey – which was completed by 100 supply chain executives during a recent ICRON- Gurobi webinar on the topic of “How supply chain companies can achieve decision-centric optimization” – also revealed that:
- Only 24% of companies have an optimization-based sales and operations planning (S&OP) process in place.
- 34% of companies do not have the technological tools they need to optimize their supply chains.
- 74% of companies do not have the technological tools they need to conduct real-time scenario analysis.
ICRON’s Chief Technology Officer Z. Caner Taşkın, who presented the ICRON-Gurobi webinar, commented: “ The results of our survey confirm what we have observed in our interactions with supply chain executives around the globe and across various industries. More and more companies are realizing that optimized decisions (rather than optimized plans) are the ultimate goal of implementing supply chain optimization software solutions. However, these companies lack the technological tools and organizational capabilities that they need to achieve decision-centric optimization.”
“ To make optimized strategic, tactical, or operational decisions, you need three key ingredients: the right data, the right algorithms, and the right organizational structure. As the results of our survey show, most supply chain companies do not have the necessary maturity in these three areas to make optimized decisions. We are, however, seeing a growing number of supply chain companies that are looking to make the shift from a planning-centric to a decision-centric approach, and are investing in decision-centric optimization solutions like ICRON. With these solutions, they can make optimized decisions that boost efficiency, customer satisfaction, and bottom-line results,” Taşkın added.
Click here to watch a video recording of the “How supply chain companies can achieve decision-centric optimization” webinar.
ICRON is a leading provider of Optimized Decision Making and Supply Chain Optimization software solutions.
Founded in 1992, ICRON has a single mission: to help our customers visualize, synchronize, and optimize their end-to-end supply chain operations and enable them to make optimized decisions that improve their productivity and profitability.
ICRON’s software platform – developed over the past 25 years by our team of academics and supply chain professionals and proven through over 500 successful implementations in some of the world’s largest corporations across various industries including manufacturing, automotive, high-tech and electronics, aviation, and maintenance, repair, and overhaul (MRO) – empowers supply chain companies to achieve decision-centric optimization.
With ICRON, each company’s planners and other key stakeholders can not only generate and execute integrated, optimized plans, but also can make optimized strategic, tactical, and operational decisions that drive improved efficiency, delivery performance, and bottom-line results.
ICRON’s algorithm-based, data-driven, decision-centric software platform supports multiple users, multiple decision processes, multiple scenarios, and multiple problem-solving techniques including optimization, heuristics, routing, scheduling, pegging, machine learning, and artificial intelligence algorithms and others.
ICRON possesses the power and flexibility to provide a complete, customized supply chain planning and decision-making optimization solution for any company. No matter how complex and challenging your company’s supply chain problems are, ICRON will serve as the single solution – delivering total decision-centric optimization across your end-to-end supply chain operations.
For more information about this press release and/or ICRON, please contact:
Alfred den Besten
VP Global Marketing