Enterprises, providers tap into new
technologies, integrated data to better monitor and manage
operations, ISG Provider Lens™ report says
Many companies with complex supply chains are co-developing
specialized analytics systems with providers that allow them to
adapt quickly to dynamic market conditions, according to a new
research report published today by Information Services Group (ISG)
(Nasdaq: III), a leading global technology research and advisory
firm.
The 2024 ISG Provider Lens™ global Specialty Analytics Services
report for the supply chain industry finds that organizations are
investing in technologies to harness enterprise and ecosystem data
for better decision-making. The COVID-19 pandemic exposed the
fragility of global supply chains, so enterprises are exploring how
data and analytics can make systems more resilient and
sustainable.
“Companies can no longer take supply chains for granted,” said
Bob Krohn, partner, manufacturing, for ISG. “By implementing new
technologies with providers, they are achieving the end-to-end
visibility they need to stay ahead of changes.”
Enterprises can solve many supply-chain problems with advanced
analytics based on a solid data foundation, the report says. Once
companies have integrated internal and external data and removed
errors, analytics platforms become powerful decision-support
systems that can generate suggestions for optimizing operations.
They can also help companies calculate risks and plan how to manage
potential disruptions.
AI is often at the center of these solutions, and providers and
enterprises are beginning to apply generative AI (GenAI) to many
use cases, ISG says. In integrated supply chain command centers,
GenAI may improve demand forecasting, capacity planning and order
tracking. Combined with computer vision and IoT, GenAI may allow
companies to introduce automation throughout the supply chain,
making the best use of limited staff.
With more specialized analytics tools, enterprises have found
new use cases, the report says. Integrated data allows them to
evaluate specific suppliers to ensure supply chain continuity.
Digital twins that simulate physical assets and processes are
helping companies predict outcomes and make better decisions.
Improved analytics systems streamline distribution, enabling
on-time order fulfillment. They also support compliance with ESG
reporting rules that require understanding the whole supply
chain.
Companies seeking specialized analytics providers commonly look
for a track record of quickly delivering business value, ISG says.
They often choose providers that employ reusable components, called
accelerators, that reflect expertise in the client’s industry.
Enterprises get the most out of custom analytics platforms when
they own the intellectual property developed in conjunction with
the provider.
“Off-the-shelf analytics platforms can solve some common
problems, but oversight and control of a complex supply chain
requires a custom solution,” said Jan Erik Aase, partner and global
leader, ISG Provider Lens Research. “Leading providers collaborate
with clients to build systems that can evolve and deliver results
over time.”
The report also explores other supply-chain analytics trends,
including rising operational costs and demand for talent-building
within enterprises.
For more insights into supply-chain analytics challenges,
including the lack of visibility into operations and into the level
of sustainability, plus ISG’s advice for addressing these issues,
see the ISG Provider Lens™ Focal Points briefing here.
The 2024 ISG Provider Lens™ global Specialty Analytics Services
report for the supply chain industry evaluates the capabilities of
17 providers across one quadrant: Supply Chain.
The report names Fractal Analytics, HARMAN Digital
Transformation Solutions, LatentView Analytics, MathCo, Sigmoid,
Tiger Analytics and Tredence as Leaders in the quadrant.
In addition, Innover Digital is named as a Rising Star — a
company with a “promising portfolio” and “high future potential” by
ISG’s definition — in the quadrant.
Customized versions of the report are available from LatentView
Analytics, Sigmoid, Tiger Analytics and Tredence.
The 2024 ISG Provider Lens™ global Specialty Analytics Services
report for the supply chain industry is available to subscribers or
for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Mexico,
Brazil, the U.K., France, Benelux, Germany, Switzerland, the
Nordics, Australia and Singapore/Malaysia, with additional markets
to be added in the future. For more information about ISG Provider
Lens research, please visit this webpage.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI and automation, cloud and data analytics; sourcing
advisory; managed governance and risk services; network carrier
services; strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,600
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240905849424/en/
Press:
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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