SupplyChainBrain attended our annual Kinexions user conference, and while there, they completed a number of video interviews with customers, analysts, and Kinaxis executives. And, we’d like to share them!
In the age of the Internet of Things, how can companies extract meaningful insights from the mass of data that is available to them today? We get answers from Yogesh Amraotkar of the Innovation and Solutions Group of Cognizant.
There’s a paradigm shift occurring today in the world of supply-chain planning and execution, says Amraotkar. Companies are looking to integrate those functions, supported by rapid development of the Internet of Things. New data sources are becoming available to them, creating processes that are “flexible, not frozen.”
The biggest struggle for Cognizant clients today is identifying risk within their global supply chains. They know how to look at suppliers and conduct financial analyses. For the most part, however, their efforts are confined to strategic planning. Unexpected events on the operational side are much tougher to access and react to.
Just understanding all of the things that can go wrong can be an enormous challenge, Amraotkar says. Most companies today are dealing with production and sales in multiple parts of the world, and drawing on a huge collection of handlers and transportation modes for support. The potential for something going wrong is high.
Again, the Internet of Things can help – using technology to know sooner and act faster. It allows companies to get a better sense of the risk within their supply chains, and identify the key factors before events occur. Not every disaster or glitch can be foreseen, of course, but better access to data is allowing companies to mitigate the impact of many types of disruptions.
Check out the other videos in this supply chain interview series: