Analytics technology massively under-used in supply chain operations, says Advanced Thursday 21 January 2016 PDF Print 21 January 2016 – Only 7% of operations functions are using fully implemented analytics software despite 80% of executives believing they should be doing more with the technology. These are the findings of research carried out by Source for Consulting in partnership with leading business applications and service provider, Advanced Business Solutions (Advanced). The report is based on a survey of executives in a variety of roles from 297 UK mid and small-sized organisations. The results also revealed that 34% of operations functions have yet to even consider using analytics, 20% are discussing doing so, 9% have plans in place to start using it and 30% have partly implemented the technology. Compared to other functions’ implementation of analytics, supply chain operations (at 37%) was behind all but HR (17%). Marketing topped the list (48%), followed by strategic decision making (42%), finance (38%), and customer-facing relations (37%). This is despite operations topping the list of functions who think they understand analytics. Analytics technology supports greater understanding of trends and predicting of demand, enabling businesses to manage inventories intelligently and lower the risk of holding unnecessary excess stock levels. With improved insight, potential risks further down the supply chain can also be identified and mitigated quickly. Simon Fowler, Managing Director, Advanced Business Solutions (Commercial), says, “Analytics technology gathers information at every stage of the supply chain, providing a comprehensive picture and enabling businesses to accurately forecast trends and predict demand, improving inventory management. “Greater insight further down the chain supports operations departments to be more efficient and easily identify the potential impact of events on future requirements.” The research showed that the top three barriers to implementing an analytics solution were; having no clear owner or champion for analytics, the inability to step back from day-to-day operations, and lack of awareness about what is possible. Respondents also identified the key benefits of using the technology. Enhanced decision-making ability was cited as the primary benefit (86%), followed by improved understanding of why things have happened and improved operational efficiency (both 69%), and the ability to predict future trends (64%). Other advantages included financial benefits, quick access to information, and reduced time spent on producing report. Fowler adds, “The world is increasingly digitised and businesses cannot afford to be left behind. Analytics solutions do not just belong in the strategy and marketing departments any more. Other business functions are increasingly recognising the benefits this technology can bring and the necessity of implementing this software to remain competitive.” To read the report, ‘Advanced Analytics’, click here. -ENDS- Notes to Editors About Advanced Business Solutions Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs. Advanced’s software systems comprise core accounting/financial management, procurement, supply chain management, human resource, payroll and customer relationship management systems. These systems are integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of front and back office departments. Management information systems for school and academies are provided through Advanced’s subsidiaries, Advanced Learning and Compass Computer Consultants. Advanced also provides specialist vertical solutions for the not-for-profit, sports, arts, live events and legal markets. All solutions can be delivered as a managed or bureau service. Customers are from both the public and private sectors and include Companies House, Newcastle City Council, NHSScotland, Norfolk Constabulary, Edge Hill University, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, Liverpool FC, Goodwood, CIPD and RSPB. Advanced Business Solutions is a division of Advanced Computer Software Group Limited, a leading supplier of software and IT services to the health, care and business services sectors. In 2014, the Group won Tech Company of the Year in PwC’s UK Tech Awards. Advanced was also ranked in the Deloitte UK Fast 50, which recognises the 50 fastest growing technology companies in the UK and ranked in the top 300 technology companies in Deloitte’s EMEA rankings. http://www.advancedcomputersoftware.com/abs/ Press Contacts: Angela Mycock and Kathryn Howard, Advanced Computer Software Group firstname.lastname@example.org +44(0)1625 856 513 This press release was distributed by ResponseSource Press Release Wire on behalf of Advanced in the following categories: Computing & Telecoms, Transport & Logistics, for more information visit http://pressreleasewire.responsesource.com/about.