Snowflake For Data-Driven Supply Chain Optimization
Data drives today’s world.
For those who haven’t tapped into the power of data, it’s high time to act, especially retailers.
The pandemic has made us realize many things for the first time and forced us to reinvent, remodel, and renovate businesses to meet the demands.
In the post-pandemic world, retailers and manufacturers must adapt to the new framework that mainly focuses on a resilient supply chain, and a more personalized experience while managing market unpredictability.
Among these, supply chain management has become more critical than ever as retailers have realized how a high-performing supply chain helps them operate efficiently and maximize profits.
You would be surprised to know that E-commerce revenues are forecast to shrink for the first time ever according to the latest forecast from Statista Digital Market Outlook.
One of the eye-opening reasons behind this is supply chain issues. The report shows that the supply chain is the largest weakening factor accompanied by inflation.
In such a turbulent market environment, supply chain optimization becomes the need of the hour.
Here, in this post, we are talking about supply chain optimization using Snowflake.
Supply Chain Optimization: How Snowflake Plays A Key Role In Optimizing the Supply Chain?
Before we answer this, let’s first know what Snowflake is.
What Is Snowflake?
Snowflake is a data cloud that enables organizations to build data-intensive applications and offers a single platform for data warehousing, data science, data lakes, and data engineering needs.
Created in 2012, it quickly grew in popularity due to its ease of use and out-of-the-box features such as data sharing, data cloning, concurrency & workload separation, semi-structured data, security, and on-the-fly compute.
Snowflake’s offerings include various solutions that meet all the demands of various domains. For retail, the Snowflake data platform helps unify all data points into a single source, helping eCommerce organizations deliver personalized experiences, optimize the supply chain, and establish data-driven decision-making.
Supply Chain Optimization Using Snowflake: Optimize, Scale, And Gain A Competitive Edge
Supply chain optimization is required to improve efficiency, performance, and decision-making. In the retail business, the supply chain generates many data points that can be leveraged to build a more resilient supply chain and deliver a seamless experience.
If we realize the potential of data, then data can transform our world.
Let’s see how Snowflake’s powerful features and deep insights help optimize each segment of your supply chain.
- Easy Integration
Data come from various external and internal sources and all the data must be integrated into a centralized repository “for better visibility. Snowflake’s streaming data feature allows supply chain managers to capture real-time data points of point-of-sale(POS), inventory, warehouse, supply chain, and production environment to create a real-time view of the key factors that affect business performance. This end-to-end visibility helps identify trends and misalignment in supply. Snowflake supports structured, and semi-structured data from internal and external sources.
- Powerful Supply Chain Analytics
Making use of data analytics helps retail companies in many ways. Supply chain analytics not only streamline processes by offering real-time insights but can be used to predict demands, know worker productivity, plan routes, optimize sales, measure quality, and also proactively plan to achieve goals. By implementing supply chain analytics, retail giants can enhance customer experience, plan more accurately, understand risks, and increase profitability.
- Real-Time Data Sharing
For advanced data analytics, there must be a comprehensive, single source of data – collected from various sources, analyzed, and presented as a whole. Snowflake’s Snowpipe helps organizations seamlessly load data into Snowflake continuously. It is an automated service and makes real-time data sharing easier, faster, and more efficient.
- Faster Data Processing
Snowflake is built to meet data needs with robust and advanced underlying architecture. It quickly processes and analyzes data to uncover insights that can be leveraged for time-sensitive business decisions.
- Robust Security & Governance
Snowflake offers many robust security features such as dynamic data masking, end-to-end encryption of data, and advanced user access control that ensure your data is secured and accessed correctly.
- Easy Scalability
If you need to add more computing and storage resources, Snowflake provides you with a scalable architecture that can be managed as per growing demands.
Optimize Supply Chain By Infusing Analytics Everywhere
Snowflake is a data platform that meets every data need of today’s organizations. It enables organizations across industries to streamline supply chain analytics.
Powerful supply chain analytics drives significant ROI and helps organizations better know their customers, improve planning, optimize performance, and increase efficiency.
With the help of insights, retailers can accurately identify which products are successful in particular areas, predict demands, spot areas for improvement, and strategies to increase sales.
Many times retailers face quality issues while manufacturing products. Using data analytics at the manufacturing stage helps companies with consistent quality and ensures each product meets quality assurance standards. This saves costs, and time, and saves retailers from costly product returns.
Warehouse management is as important as supply chain management to increase efficiency, reduce storage costs, and increase time-to-market. Data analytics at the warehouse help manage inventory effectively and offer valuable insights into productivity and efficiency.
Supply chain analytics at the transportation level helps logistic companies to effectively plan routes, operate efficiently, and increase the speed of delivery.
Snowflake platform offers a range of services and solutions to manage data, and execute advanced analytics to drive performance.
Why Supply Chain Optimization With Snowflake?
Here are several benefits of supply chain optimization using Snowflake that help retailers and manufacturers gain a competitive edge:
- Adapt to the changes with ease
- Satisfy ever-increasing customer demands
- Increased visibility
- Proactive practices to attain sustainability goals
- Better and faster decision-making
- A governed, centralized data repository
- Easy and powerful analytics
Data-Driven Approach To Optimize Supply Chain With Snowflake
Supply chain management has become one of the top priorities for today’s organizations. By tapping into the power of data, retailers can streamline processes, effectively manage resources, predict trends, understand customers, and identify opportunities to improve.
Snowflake helps this become reality with cloud-based data storage and analytics, a fully-managed SaaS data platform.
Have you tried Snowflake?
Connect with us to how to optimize Supply Chain Management with Snowflake.