Data monetization is critical to different aspects of the business. Supply chain is no exception.
To illustrate, we reviewed the 2019 investor data presentation by Dave Biegger, chief supply chain officer at ConAgra Brands, Inc.1 (We use this information for illustrative purposes only and have had no discussions with the company about this.)
In his presentation, Biegger committed to $1.1B in increased productivity across three categories by the end of FY22:
- Realized productivity: $706MM
- Synergies: $119MM
- Working capital: $300MM
Data management at any organization should be able to plug in potential initiatives within these categories to support supply chain data monetization. For example:
- Realized productivity:
- Support retirement of legacy database infrastructure with cloud migration.
- Support retirement of duplicate databases at acquired company.
- Working capital:
- Accelerate purchase orders due to improved materials data quality.
- Support alignment on most favorable payment terms with consolidated vendor records.