The importance of data for small and medium-sized enterprises (SMEs) is a topic that has quickly gained greater presence in the sector, as it plays a fundamental role in the efficient management of the supply chain and in risk mitigation. This is because data provides a detailed view of various aspects inside and outside a company, allowing SMEs to carry out multiple preventive, maintenance and rapid response tasks, which were previously beyond their reach.
For example, in the case of supply chain
operations, it allows you to identify areas for improvement, anticipate potential problems and make informed decisions to optimize workflow and meet market demands effectively.
On the other hand, in a context where business regulation is constantly intensifying, proper data management becomes a fundamental pillar to ensure compliance with current regulations. Accurate and up-to-date data not only allows companies to monitor their compliance status , but also provides them with greater transparency and traceability in their operations. This reduces the risk of america cell phone number list regulatory sanctions and their economic impact, while preserving the company’s reputation and credibility with its customers, business partners and regulatory authorities.
Furthermore, in a globalized world
where supply chains extend across multiple countries and regions, data provides SMEs with an invaluable tool to operate with a global view of their business. The ability to access real-time information about suppliers, market conditions, and changes in demand for goods and services gives companies a significant competitive advantage. This information allows them to anticipate and proactively how credit leaders can prepare for a recession respond to disruptive events, such as natural disasters or variations in material prices. The use of data allows small and medium-sized businesses to adapt quickly to changing market conditions and ensure the continuity of their operations.
In this sense, we identified
that data is a highly valuable element in all supply chain challenges, such as dating data delays, interruptions, regulatory requirements, and risk mitigation. Since data works as a catalyst in each step of the supply chain, including planning, sourcing, production, inventory, and logistics. It is key to obtaining accurate and reliable information and making important business decisions.
However, to obtain its
maximum value, data must be managed correctly. It must be aligned with each organization’s objectives, systems and processes; collected, prepared and stored to maximize its usefulness; and, most importantly, it must be visible to all interested parties. This is the key to making the large volume of data and information generated by SMEs actionable to better operate their supply chains.
Obstacles to effective data management
Organizations are collecting vast amounts of data today, but quantity doesn’t translate into quality. Much of the data generated within companies loses its potential because it falls into at least one of these categories: This data takes up valuable database space and slows down processing speed. Different formats make it difficult to identify, clean and remove duplicates. This term refers to the presence of fragmented and unintegrated data sets within an organization. In other words, it means that data is spread across different systems or departments within the company and is not organized in a coherent manner. This makes it difficult to access and analyze information efficiently, as there is no centralized source of data that provides a complete view of the situation.