The Power of Consultants in Analytics-Driven Business Success

As companies strive for operational excellence and competitive advantage, leveraging analytics has become a necessity. The complexity and scale of supply chains are driving businesses to increasingly turn to analytics to reduce cost, improve efficiency, and drive strategic decision making. The use of analytics in the supply chain can detect patterns, predict trends, minimize risk, and give invaluable insights to inefficiencies in processes. According to a report by McKinsey & Company, “companies that extensively use customer analytics are more likely to outperform their competitors in terms of profitability and sales growth.” ¹

With all this valuable data available, companies can pinpoint issues in their supply chain. But often those changes aren’t small. Many organizations are facing the challenge of insufficient resources to undertake full-fledged improvement projects that come out of data analytics. Employees and subject matter experts often find themselves consumed by day-to-day operational demands leaving a bandwidth issue for in-depth process optimization. This is where the expertise of consultants can bridge the gap. 

Consultants are trusted advisors that have an advantage of being solely focused on assessing existing processes, identifying pain points, and developing customized solutions. Working with subject matter experts and business leaders, they bring a fresh perspective that is unburdened by internal biases. One of the key advantages of engaging consultants in supply chain analytics is their ability to remove bottlenecks by breaking down organizational silos and ensuring analytics-driven decisions are made. By providing mentorship, coaching and guidance, consultants equip employees with the skills and confidence to navigate analytics to enhance operational efficiencies.  

Regardless of the size or industry of a company, a strategic partnership with a consulting firm  can be a game-changer. Taking on the commitment of project tracking, executive communications, facilitation of meetings, and budget tracking, it allows the employees to engage where necessary while still balancing their daily responsibilities. So, if you are looking to navigate the complexities  of your analytics results, it’s time to consider the innovative and transformative impact of bringing in a consultant. 

When partnering with a consultant, consider looking for a firm with a wide range of expertise across their team, even if you’re only looking to improve in one specific area. This provides you, the client, with access to an array of knowledge and lessons learned. This collaborative approach to consulting ensures your project unlocks its full potential. Projects can also often reveal an array of other process improvement opportunities that are out of scope, so having the ability to tap into the range of experience and expertise  within the consulting firm guarantees long term success for future endeavors. 

¹McKinsey & Company. (2021). Advanced analytics in supply chains: The hunt for value. Retrieved from https://www.mckinsey.com/business-functions/operations/our-insights/advanced-analytics-in-supply-chains-the-hunt-for-value