Yes, Spreadsheets are killing your A&D small parts supply chain. There’s no doubt that the almighty spreadsheet serves a purpose in today’s business. But are its days numbered?
Spreadsheets are commonly viewed as the quintessential business intelligence tool. They provide seamless calculations and help you make sense of your data via charts, graphs, and other features. But it’s not uncommon for growing companies to also outgrow spreadsheet reliability.
Here’s why:
Spreadsheets Aren’t Immune to Human Error
Spreadsheet data is usually at the mercy of human data entry. No one is perfect. If somebody accidentally inputs the wrong data or formula, it can throw off other data in the same document. This can create a domino effect of poor decisions and missed opportunities throughout your business.
Spreadsheets Are Hard to Troubleshoot
If errors do occur, they’re usually not easy to spot. Excel has come a long way in recent years to help identify potential errors or formulas that don’t make sense. But it’s still far from a perfect solution. Pinpointing a single error in a massive spreadsheet can be quite time-consuming. Also, changing one item can upset the entire applecart if certain data points are connected, creating more challenges.
Large Spreadsheets Are Too Cumbersome to Manage
Spreadsheets are excellent tools for simple sets of data and calculations. But as the spreadsheet grows, so do the challenges in managing it. The larger the spreadsheet, the more time it takes to load and utilize. What’s more, spreadsheets usually need to be updated manually to reflect the most recent data, adding yet another layer of complexity to the process.
Spreadsheets Don’t Support Agile Decision-Making
Spreadsheets serve as a safehouse for data, but it’s not easy to make quick decisions just from a spreadsheet. There are very few ways to put your data into context. And since you usually have to update that data manually, you can assume a lot of the data is out of date by the time you need to make a decision.
Spreadsheets Are Too Easily Manipulated
There’s very little security when it comes to spreadsheets. While the cloud has allowed for easier spreadsheet access, there’s still the potential for someone to access and change data without authorization. Even password-protected spreadsheets can be hacked.
A Better Approach to Business Intelligence
When spreadsheets aren’t enough, what can replace them? VirtuTrax is the answer. Our data-driven platform helps A&D companies to centralize their data and turn it into usable insights. You can instantly access dashboards to see important, actionable data at a glance, then dive deeper into details around shipments, suppliers, quality, lead times, pricing, and more.
By having a single source of truth that always displays the most relevant, up-to-date information, business leaders have a data source they can trust. Use it to make quick decisions with confidence and find new opportunities to reduce costs, increase efficiency, and stay ahead of disruption.
To see how VirtuTrax provides a better alternative to spreadsheets for your aerospace small parts supply chain, contact us for a quick demo.