To be successful, operations requires integrated business management methodologies and systems that assist in making better, faster decisions and provide visibility into key performance drivers, such as employee productivity, asset utilization, and project profitability. In most small and medium companies, however, there is no common storehouse of business information. This lack of data access limits operations’ functions in several key ways:
The ability to track business performance is made difficult by outdated, disjointed, disparate systems (data silos) that do not provide an accurate 360-degree view of the business.
The ability to respond in a timely and profitable manner to market conditions, competitors, suppliers, customers, standards groups, and regulatory agencies can be compromised. Effective response includes the ability to alert management of key operational events that require immediate attention.
The ability to quickly and accurately track and contain costs can also be compromised. With hidden costs in the delivery of products and services, companies cannot properly account for (and charge for) value-added services.
To address these problems, operations needs a system that places at its fingertips the complete range of real-time data necessary to fulfill its mission.
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