A recent survey of businesses containing 250 UK and 250 US respondents firms found that only 61% of UK firms recognised the importance of connecting disparate supply chain data and 20% said they were not using supply chain data at all. Data disparity can come on a variety of forms where this is disparate systems, inconsistent data or differing data terminology.
Why is connecting disparate supply chain data important?
Connecting disparate supply chain data is important because this will enable businesses to see the full picture of their supply chain analytics to make better strategic decisions about how to make their supply chain more efficient.
Are UK firms planning to invest in their digitised supply chain?
The survey conducted by FourKites and YouGov also found that 30% of UK firms planned to invest in technology to ‘de-risk’ their supply chain within the next 12 months. Furthermore, 62% of UK respondents said their supply chain digitalisation is currently sub-par. Fully digitalised supply chains tend to have a single source for all data which makes data gathering much easier and more efficient to manage. Therefore, this can reduce the risk of running out of stock and prevent orders from being cut which will ultimately lead to a better customer experience.
To summarise, over half of UK companies have the potential to unlock a fully digitalised supply chain and have access to more data from a singular source to help them make better decisions regarding their supply chain.
How can we help?
Hawsons has a dedicated team of specialist transport and logistics accountants in Sheffield, Doncaster, and Northampton.
We act for a large number of clients in this sector across our three offices, ranging from hauliers to international couriers, and understand the challenges this dynamic sector faces.
Nearly every other commercial sector is reliant on the services transport and logistic businesses provide and, in many ways, this specialist sector is the linchpin for our country’s economy.
With our experience in the transport and logistics sector we are able to develop a close understanding of your business and, through active year round involvement, we can help you anticipate and deal with challenges quickly and effectively.
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