Supply Chain Management: Using Dashboards to Make Better-Informed Business Decisions
With the amount of data available for supply chain management companies to utilize, it is easy to overlook the tiny, yet critical details. The vast amount of information received creates more of a challenge when determining vital information to use for business decisions. To help reduce this complexity, dashboard solutions are using techniques to combine flexibility, transparency and power.
Dashboard technology streamlines processes to identify problems, increase efficiency and improve the clarity of data, making it easier for everyone to understand. A dashboard helps consolidate data sources while executing more detailed results, leading to stronger decision-making capabilities.
What makes dashboards effective?
Successful dashboards are visually appealing. A robust dashboard solution combines several components of critical information all together at once. This adds value by increasing productivity without spending unnecessary time gathering and sorting data. Defining objectives and evaluating milestones are progressing due to decision-makers having quick and efficient access to the data they need.
What are some best practices for selecting and implementing a dashboard solution?
- Metrics and measures system
- Include specific metrics in your dashboard that drive your organization.
- Focus on essential information; a powerful dashboard relies on the information it has access to.
- Personnel and priorities
- Know your audience! Many executives will focus on big-picture metrics, while other professionals would benefit from a more tactical set of information.
- Dashboards have the ability to design portals or categories tailored to specific people and/or departments.
- Presentation and clarity
- Dashboards should be understood with a single glance. The information should be easily accessible to make timely decisions.
- Data should be straightforward with visuals that are clearly comprehensible. Choose charts that best depict your metrics and allow for accurate measurements at-a-glance.
- Flexibility and customization
- Flexible dashboards are essential to customize and distinguish the specific needs of an individual company or department.
- Guarantee the selected dashboard is capable of integrating all data sources.
Implementing dashboard technology makes it easier to see the full scope of your supply chain management organization. By providing enhanced efficiency and a complete breakdown into specific data points, supply chain management dashboards can lead to stronger decision-making capabilities and overall improved business.