Knowledge management, business intelligence, and business analytics in firms
The consumer is out to emphasize that ‘he is the king'. Accordingly, his demands for enhanced quality and timely deliveries of the products' order by them has revolutionized the management gurus to evolve new business strategies to enhance the intensity of coordination and communication between the seller and the consumer. Two key business strategies that have evolved from this exercise are business intelligence and knowledge management, which have contributed effectively to the progression of new and competent management strategies. Great benefits have also been achieved in for form of cost reduction, thereby increasing the sales and profitability of the organization.
Information routing is a critical link between the production department up to the client and the optimal course of production steps are directly related to business intelligence and knowledge management. Accurate data systems are imperative properly to link every production steps to customer delivery. Otherwise an optimal and efficient distribution system cannot be envisaged. An efficient distribution strategy will not only track the flow of materials at every stage, but will also contribute to tremendous cuts in logistics costs