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How Do Supply Chain Analytics Tools Help Drive Performance?

Posted on July 13, 2020 by Jennifer Kinion

supplier truck

Supply chain analytics tools allow companies to trend all safety and quality data across their operations. By using technology to streamline traditionally resource-intensive processes, food and beverage companies are driving performance, reducing costs, and ultimately, seeing better bottom-line results. Here are just a few key ways analytics tools make these improvements possible:

Monitor Performance in Real-Time

In a 2017 study conducted by SafetyChain and The Acheson Group, only half of respondents were confident that non-conformances and issues are identified at the earliest point possible in their facilities. This is likely due to limited visibility caused by outdated management practices. With analytics, companies can achieve 24/7 access to safety and quality data intelligence, thanks to mobile forms and automated equipment data extraction.

Track KPIs

Key Performance Indicators (KPIs) are invaluable for helping food and beverage companies monitor progress and ensure business outcomes are met. Analytics tools feature dashboards and reports which make it easy to track, measure, and report yield, waste, and operational KPIs. As a result, companies can identify both macro and micro trends based on targets to promote the achievement of objectives.  

Identify Supplier Performance Risks

Supplier performance is notoriously difficult to track with clipboards and binders. Not only do analytics give you real-time visibility as to how your suppliers are performing now, but features like ad-hoc queries, reporting, filtering, and drill-down capabilities make it easy to gain both holistic and detailed insights into ongoing performance. This allows for more effective vendor management and gives companies the information they need to make decisions to support their overall company strategy.

With the capabilities listed above, food and beverage companies are able to drive performance in a number of key areas. Reduced customer complaints, lowered scrap and waste, improved inspections, reduced down time, and tremendous annual savings are among the many ways companies can see lasting improvement by implementing technology.

About SafetyChain Software

SafetyChain is a Quality Management System (QMS) that helps food and beverage companies improve productivity, profitability, and compliance with a flexible, user-friendly software platform that captures, manages, and analyzes real-time operations data. Learn more at https://safetychain.com.

Topics: Analytics, Compliance, Supply Chain, Profitability