LiveSource, a multi-enterprise supply chain business network for complex manufacturers, has released the first of three phases of its new product, LiveSource Analytics.
This initial phase focuses on queries and alerts to enable manufacturers greater visibility into their supplier’s health, performance and ability to deliver.
Given the ever-increasing focus on quality, compliance, efficiencies and costs, manufacturers require enhanced visibility and collaboration within their complex supply chains. With constant changes in regulations and last-minute engineering updates buried in emails, spreadsheets and disconnected systems, it’s difficult to know where the next surprise is coming from. LiveSource gives manufacturers greater visibility across their entire supplier network, so they can plan effectively and quickly respond to change, avoid supply chain disruption.
The product utilizes data lake technology, standardizing all data from both LiveSource and third-party systems into a non-relational database. This creates a powerful decision-making tool, with extremely fast data query. Users apply these queries against a library of widgets to present the data visually, grouping appropriate widgets together to create dashboards of key indicators. Additionally, LiveSource Analytics drills down to the sourced document of the analysis, a feature not available with comparable business intelligence tools.
“Leveraging the data lake, LiveSource Analytics collects all of the data from various disconnected systems and standardizes that data to drive more accurate analytics,” said Bo Hagler, CEO of LiveSource. “Ultimately, we are delivering more credible analysis to drive better supplier management decisions.”
Moving forward, LiveSource Analytics will also be key to leveraging the enormous amounts of data captured by IOT devices in manufacturing, such as monitoring tool usage and performance.