BUSINESS INTELLIGENCE – PLATFORM FOR MANAGEMENT STRATEGY
IN CRUISE SUPPLY CHAIN
Ante Luetić M.Sc.Econ.
E-mail: ante.luetic@st.htnet.hr
Tel. 021-536-293
Neven Šerić, Ph.d.
University of Split,
Faculty of Economics Split, Croatia
nevseric@inet.hr
Key words: business intelligence, supply chain management, cruising company
ABSTRACT
Dynamics and unpredictability of business changes, pressure on demands for lower prices
and increased service levels, as well as global relationships, determine modern cruise
sector business. Market competition present in this area assumes features of exceptional
complexity irrespective of whether the causes have been the results of safety, political,
natural, social or economic factors. The complexity of these relations is additionally
intensified by the fact that a highly competitive sector is in question. Supply business has
become more important day by day and this has resulted in a conceptual shift from an
internal activity as a business support towards a strategic process that results in the
addition of a new value. To that extent the cruise supply chain should be considered as a
certain form of a superorganisational set consisting of a cruise company with its business
partners, participants in the supply chain. In addition to available resources and economic
potential, timely and accurate information and the resulting insight become a dominant
resource for the management decision making on all cruise company business levels –
this is actually enabled by the application of business intelligence. Contrary to the
traditional approach to value chain model that treats information as a stimulating element,
business intelligence proceeds from the presumption that the information is a resource
that creates new, additional value. Considering that business efficiency of a modern
enterprise depends on its interaction with suppliers and customers, competitiveness and
efficiency should be considered in a broad view. Management in cruise supply chain
becomes more and more the management of information, especially when it is viewed
thru the prism of full orientation towards the meeting of customer’s needs. The
application of the business intelligence concept in the management in the supply chain
enables the cruise company to efficiently measure, supervise, forecast and control all the
processes that make its chain. Considering that the aim is to make better business
decisions more quickly, it is necessary to shorten total decision-making time, but also
increase, within that time, the time necessary for consideration and selection of decisions
with the decrease of time necessary for the collection and analysis of information – all
these business intelligence actually enables. This paper is aimed at presenting a model for
more efficient decision making in the cruising company supply chains on the basis of
business intelligence concept.
1. INTRODUCTORY NOTES
Today cruising companies find themselves at the specific crossroads that will determine
their business and future. All the elements that affect their sustainability, whether being
defined by safety, political, natural, social or economic influences, share one
characteristic – a large amount of data and information. Recent assessments (Merv, 2010)
indicate that large data warehouses are tripled every two years. According to the research
made by Gartner (Mearian, 2010) 47% persons questioned consider the data growth one
of three biggest challenges the management face. These few examples indicate that the
business has reached the point where the information becomes statistically the most
important focus of business making (The Economist, 2010). Its usage offers to cruising
companies better possibilities in managing supply chains requesting, at the same time,
deep and thorough changes in business principles and functioning considering the
importance of information, its quantity, flow and its interconnection and dependence.
Exponential increase of data that a cruising company collects and stores can be studied
from two points of view: how to solve the problems of large database management, and
how to start managing this resource, namely how to quickly and efficiently convert data
into information, intelligence and finally into – profit. It is of importance that the need for
relevant information can be evaluated in quantitative and qualitative terms as the time
requested to make decisions is constantly reduced.
In order to successfully optimize the process of analyzing useful data in managing
cruising company supply chains, convert them into information, reduce the time
necessary for their processing and their distribution to end users, it is necessary to have
available an adequate management model for this segment at the company level.
2. BUSINESS INTELLIGENCE
The term business intelligence has been in use for some ten years and there is still no
consensus on its generic definition and interpretation. Different authors approach to BI
from various perspectives interpreting it as a process, a concept, a strategy, architecture, a
value added product, a mode of business devising, manager’s philosophy, a discipline or
a system. Moss and Atre (2003) point out that the intelligence of business making is
specific for each company as well as for the policy and business rules based on which
those companies are managed. Business intelligence appeared when modern management
were not able to make decisions based on intuition any more, but the whole decision
making process should be based on facts (Javorović and Bilandžić, 2007). Dedijer (1999)
offered a simplified explanation by which BI represents that entire one should know in
order to take efficient actions. Liautaud and Hammond (2006) consider that data initiate
business deals, business deals are speeded up by information, while an Olympic record is
achieved by intelligence.The main point is that business intelligence is a concept that
enables legal and ethical collection, processing and use of data, their conversion into
information and knowledge, which should be used as a platform for efficient
measurement, supervision, prediction and managing of business processes, i.e. as a
support for business decision making. In this respect it is characterized by three
perspectives (Vitt et al., 2002):
- Conversion of data into information,
- Faster business decision making, and
- Use of a rational approach to management.
From the informatics point of view business intelligence means a complex informatics
system that collects data by automated procedures from versatile internal and external
sources, processes, transforms and consolidates them enabling the management to
approach to qualitative information in an intuitive and easy way.
2.1 Reasons for Business Intelligence Application in Cruising Sector
Considering decision making process in cruising company supply chain context it can be
concluded that an adequate, i.e. optimal business decision is the one that provides the
realization of a defined strategy and associated business goals. However, it should be also
noted that a timely made decision is in question. The speed in taking actions can often be
of a crucial importance since as less time is elapsed from the moment when a problem,
threat, risk was perceived or indicated to the moment of reaction, it is more probable that
the decision made will be relevant and timely in relation to the terms set for response
(Šerić and Luetić, 2008).
Cruising companies should avoid the situation in which they are rich in data but poor in
information. In practice the problem is even more emphasized when the company cannot
rely on information it has at its disposal, that is when it has available several versions of
“truth”. This situation is figuratively explained by former CEO of Hewlett Packard Lewis
Platt when he says: “If only HP knew what HP knows, we would probably be three times
more productive” (Benbya and Van Alstyne, 2011). In order that data could make a good
basis for decision-making, decisions should meet certain terms: easy usage, adaptability,
efficiency, computer platform independability and cost-effectiveness (Panian and Klepac,
2003).
Global economy assumes the model of informatics economy and knowledge economy.
Contrary to material assets, services and associated intangible assets now constitute the
major part of GDP in most developed economies, while services are more and more
based on knowledge and not on material assets (Fleischer and Bensoussan, 2003). In this
context the following globalization effects should be considered:
- Speed – each aspect of business and organization acts and is adapted in a real time
as an answer to market conditions that undergo constant changes, while lifetime
of most products decreases, as well as the time for their development;
- Interconnection – everything is linked to each other (products, people, companies,
countries) since time, geographical, political or social barriers disappear, that is,
they do not represent unbridgeable obstacles any more;
- Added value – in any product or service the share and importance of so-called
intangible added value (image, emotion, information, safety) increases (Srića and
Spremić, 2000);
- Risk – understanding, prediction and crisis management become critical factors in
sustainability.
The application of business intelligence in cruising sector allows all necessary
information to all business levels within their scope of responsibility in decision making
process so that the management level can deal with causes and not consequences.
Research results (Liautaud and Hammond, 2006) show that business entities use only 10
% of data collected while the application of the business intelligence concept enables the
utilization of the remaining 90 %.
The usage of data and their conversion into information, and in the end into knowledge,
represent the platform for proactive activities that enable the improvement of efficiency
of business decisions made. More information will certainly initiate better decisions, and
in turn they will achieve better results (Stiglitz, 2004).
3. CRUISING SECTOR
The building of cruisers is a specific niche in shipbuilding industry characterized by
building of ships with high added value. This segment is characterized by high degree of
competitive concentration. The first five companies share 55 % capacities, and the first
10 respectable 74 %. When compared to other maritime affairs, cruising is characterized
by largest ownership concentration, which leads to conclusion that the size should render
commercial advantages in comparison to other maritime segments (Stopford, 2009).
Three leading groups of companies: Carnival Group, the Royal Caribbean and Norwegian
Cruise / Star Cruise share total of 77 % of all capacities, while Carnival alone has 46%.
Cruising industry has become one of the fastest growing segments of transport service.
Since mid 80’s of the last century cruising fleet has been growing by average rate ranging
between 8 and 9 % (Di Vaio et al., 2010):
- 2000 – 9.7 million passengers,
- 2005 – 14.4 million passengers,
- 2015 – 25 million passengers predicted.
The main market for cruising voyages is North American continent with about 9.4
million passengers in 2005, i.e. 65 % of total demand in the cruising market, while
second by size was European market with 22% share of total world demand (Horak et al.,
2007). The European market growth is seen in the fact that this market increased its share
in the year 2010 to approximately one third of total world market (BRS, 2011).
It is characteristic that in the last decades there have occurred horizontal and vertical
integrations thru acquisitions and mergers in order to increase efficiency and revenues,
and gain advantages over competition. When companies own or control business at the
same level of the supply chain then horizontal integrations are in question. Contrary to
horizontal integration, vertical integration occurs when a company owns or controls a few
levels of the supply chain. When an offer includes also airline companies, as mentioned
above, then fly/cruise offer is in question. If the companies invest, that is, carry out
integration with certain land destinations then they offer all-inclusive packages to their
clients. Considering occurrence of new destinations and markets, offers are characterized
by an emphasized dynamics. Since the cruising industry started to develop, the
investments into new ships have been increasing and they have become bigger, more
luxurious, better equipped, offering higher level of services and broad range of offer in
order to meet the needs and expectations of clients. Investments into those ships mean
also the increase of business risk since larger capital amounts assume/require increased
capacity rate.
The above shows that there is no market competition between single cruising companies
but between supply chains of those companies. The major factor of success is the client’s
satisfaction. Competitiveness is recognized in vertical (in quality terms) as well as in
horizontal differentiation (in terms of offer variety). In this context four competitiveness
dimensions should be considered: ship, duration of cruising, cruising itinerary and
process of booking (Vaggelas and Lagoudis, 2010 vs. Papatheodorou, 2006).
Dynamics and unpredictability of business changes as well as global relationships
determine today, more than ever before, cruising company businesses considering the
effects of crediting crisis. This crisis is the sixth global crisis in the last half century and
its effects have impact on this sector, too (Stopford, 2011). Real indicators (BRS, 2010
and 2011) of the influence of this crisis are seen in the number of new cruiser contracts in
the last few years:
- 2006 – 13 ships with 27,400 berths contracted,
- 2007 – 16 ships with 35,800 berths contracted,
- 2008 – 3 ships contracted,
- 2009 – only 1 ship contracted,
- 2010 – 7 ships contracted.
Cruising companies were forced to reduce prices of their offers in order to halt decline in
the sale of their package travels, while only in 2010 there begins slow resumption of
levels reached prior to crisis. Medium-term forecast suggests that full recovery will also
depend on potential new markets primarily South American, Australian and New Zeland
markets (Stopford, 2011).
3.1 Challenges of Modern Cruise Supply Chain
Many members of cruise supply chain (tour operators, travel agencies, cruising
companies, airline companies, hotels, terminals, etc.) are highly specialized and some of
them are also the members of a number of different supply chains at different partnership
levels. To make certain supply chain competent each its element should be distinguished
by flexibility, readiness to cooperate, exchange information, readiness to co-ordination,
and constant improvements. The chain will be successful in the end if all its elements
contribute to a new – added value for clients.
Clients of today have become more demanding, well informed, they want higher service
level, broad range of tourist programs which require cruise supply chain management to
find answers to some questions:
- Who are our clients?
- How to recognize needs and expectations of clients?
- How to find out and keep the most profitable clients?
- How to offer higher added value to clients?
- Which destinations are most profitable?
In order to find answers to the questions asked you need data and their processing into
useful information, which will offer necessary knowledge to the management. By
processing data collected awareness on the client’s profile will be gained, but also on
changes and hidden trends in those profiles, their behavior, preferences, requests,
expectations and finally perception of the value of services rendered. In view of above
mentioned higher level of information available to guests, increase in last minute
reservation share is present.
Specific features of cruise supply chain can be considered based on three levels
(Veronneau and Roy, 2008):
strategic – cruising planning (itinerary) considerably affects the supply chain
design, demand forecast and product-mix;
- tactical – this level is covered by master embarkation plan constituting main
tool which will provide adequate embarkation and goods and passengers
flows;
- operative – continuous control and replenishment of stocks against the
embarkation schedule and samples of previous consumption.
The above elements point to the necessity for information management in order to deal
with specific features based on Just in Time principle.
-
4. STRATEGY OF SUPPLY CHAIN MANAGEMENT
Characteristics of modern business where 60 to 70 % company costs are controlled by
expanded supply chain (Ditman et al., 2010) have resulted in a new approach to supply
chain management development, which represents a dominant business concept which
performance is based on co-operation and co-ordination. Considering supply chain
management as a managing philosophy Mentzer et al. (2001) indicate the following
points:
- systematic approach in order to consider supply chain as a whole and
consequently manage its complete course,
- strategic orientation towards cooperative efforts in achieving the
synchronization of internal and external operations and towards strategic
opportunities, and
- orientation towards a buyer in order to create a unique and individualized
value for the buyer that would result in his satisfaction.
Bowersox (2007) points out six imperatives that frame the model of modern supply
chain: customer centricity, operative excellence, integrative management, real-time
responsiveness, network leveraging and collaboration. Four main principles (Jacoby,
2009) for the improvement of supply chain management include: productivity, reliability,
flexibility and innovativeness based on which four basic strategies are developed:
rationalization, synchronization, adaptation and innovation (innovativeness). Elementary
techniques applied to implement these strategies include:
- designing of supply chain network to enable faster and more efficient
responses at lower costs,
- capacity planning to have enough capacity in time,
- risk management to balance risk and success in order to achieve top
performances, and
- monitoring and measurement to monitor the implementation of given strategy.
Porter (1998) defined three general strategies: focusing, differentiation and low cost.
Research on correlation between business strategies and supply chain strategies
conducted by
Boston Strategies International (Jacoby, 2009) showed that 54 %
enterprises carry out “low-cost” strategy, 28 % are focused on a certain market, while 18
% carry out product differentiation as shown in Table 1.
Table1. Correlation between business strategies and supply chain strategies
Business strategy
rationalisation
Synchronisation
customization
innovation
Differentation
negative
Negative
positive
positive
Focus / specialisation
negative
Negative
positive
negative
Low cost
positive
Positive
negative
negative
Source: Jacoby, D.: Guide to Supply Chain Management, The Economist Newspaper Ltd.,
London, 2009., p. 54.
5. MODEL PROPOSAL FOR BUSINESS INTELLIGENCE CONCEPT
APPLICATION AS A PLATFORM FOR CRUISE SUPPLY CHAIN
Data and information management becomes a challenging platform to supply chain
management as based on its analysis the management should come closer to their clients
and early detection of threats or possibilities and opportunities before they come in sight
of other participants in market competition. Consequently, it may be well concluded that
the cruise supply chain management becomes information management where business
intelligence should play a pivotal role. Based on this a conceptual model shown in Fig. 1
could be proposed.
Fig.1. Model of business intelligence concept application in cruise supply chain management
BUSINESS
INTELLIGENCE
INFORMATION
MANAGEMENT
MANAGEMENT
STRATEGY IN CRUISE
SUPPLY CHAIN
Source: Authors
If Table 1 were analyzed thru the prism of cruise supply chain characteristics, specific
features and requirements then it could be concluded that the most adequate strategy
combinations would be:
- differentiation and adaptation,
- focusing and adaptation, and
- differentiation and innovation.
It is just the above strategies, being either business or those of supply chain, which need
business intelligence as the platform for their efficient implementation.
In order to make decisions of cruise supply chain management efficient, they should be
based on the knowledge of:
- itself as an element of cruise supply chain,
- other elements of that chain,
- clients, and
- market.
By processing raw data the management will get useful information. However, only when
the management becomes aware of what that information means for cruise supply chain
managing, it acquires knowledge to take efficient activities. Raw data and information
collecting is not enough in and of itself. In addition to this, data delay directly affects
delay in decision-making, which in turn consists of three components (Hackathorn,
2004):
- delay in data reception – time from the moment a business deal actually
happens to the moment when the data are available,
- delay in data analysis – time necessary to process, analyze and disseminate
data,
- delay in decision-making – time necessary to make business decisions.
If any delay of these three phases is reduced, it directly reduces time to action. Efficiency
will be achieved by information management, and the value of information equals the
value of risk reduction (Hubbard, 2010).
Business intelligence is a basis of management performance, a constant and continuous
cycle consisting of a number of phases:
- planning and managing, i.e. goal setting which implies that there should be a
clear idea about requests, priorities and indicators that should be collected.
Meyer (1999) points out that this activity is a key phase in which the company
intelligence profile is actually defined;
- data collecting – is a second phase in accordance with the needs defined in the
foregoing phase. Data sources could be within the company itself, within the
members of its supply chain, or external:
- analysis – this phase is aimed at the evaluation of data obtained in terms of
reliability and accuracy, and their processing and conversion into significant
information, i.e. knowledge;
- distribution – is the final phase in which knowledge available is distributed to
users, that is decision makers.
This continuous activity cycle confirms that the business intelligence concept application
provides information management both at internal and external levels. It follows from
above that the model shown in Fig. 1 can be developed in such a way that the information
management can form an adequate basis for internal and external integration as presented
in Fig. 2.
Fig. 2. Expanded model of business intelligence concept application in cruise supply chain
management
INTERNAL
INTEGRATION
MANAGEMENT
STRATEGY IN CRUISE
SUPPLY CHAIN
BUSINESS
INTELLIGENCE
EXTERNAL
INTEGRATION
Source: Authors
True integration is achieved when all chain members mutually exchange data and
information in order to achieve common goal. By contribution of each chain element
synergy effects are achieved, i.e. chain members should pursue the mutual “win-win”
relationship. The integration in this context can be considered in two ways: as strategy
integration and process integration. It is important to point out that the one of major
postulates for successful integration is mutual confidence between the members. The
above offers following benefits to cruise supply chain management:
- Visibility – to provide efficient SCM, the management should be aware of its
visibility, which means that data and information from any chain level are
available to a decision maker in any critical moment of need. When
undisturbed flow of information thru supply chain is provided, this will give it
both strength and flexibility not adversely affecting efficiency (Pereira, 2009).
- Elasticity, flexibility – when information as a basis for management decisions
is used in real time, then it is made possible for the chain to become flexible,
i.e. it is made possible for the chain to resume its former or desirable status
after the disturbances occurred. In this case reengineering process, cooperation, agility and development of manager’s risk culture are requested.
- Excellence – efficient information management, achievement of integration,
visibility, communication and flexibility enable supply chain to get essential
precondition for operational and innovative excellence.
One of the methods that can be applied in this consideration is data mining by which
seemingly invisible relations and causes between the variables monitored and analyzed
can be found out thus revealing knowledge hidden before. Since cruising companies get
major information on their clients from their passports, visas and filled-in forms when
negotiating package tours, the application of data mining can contribute to the
segmentation of buyers and consequently find out characteristics of a single segment.
Such information represents valuable knowledge which cruising companies can use for a
continuous improvement and adjustment to specific groups of clients. Based on
knowledge “found” it is possible to increase, by targeted marketing, their satisfaction and
rationalize the costs at the same time.
By predictive analytics cruising companies are enabled to predict future events and make
a few scenarios for possible actions. The companies should be aware of what is
happening, what will probably happen, and which best actions should be taken to get
optimum results (Lavalle et al., 2011) in other words the company may get a 360° view
on processes and environment in real time. When the company controls its data and
information, it is in position to exchange them with other participants within supply chain
complex process, which represents a precondition for efficient measurement and
supervision of those processes; in fact it can increase its efficiency and effectiveness.
Predictive analytics simply represents a logic succession to OLAP tools and data mining.
An important characteristic of advanced analytics is the option of visualization and
application of control panels. It is the visualization and making simulation that make the
best opportunities for business improvement.
The application of business intelligence concept that will enable the improvement in
prediction does not bring business value by itself unless those predictions and analyses
are incorporated into the processes themselves to finally result in stock reduction, cost
reduction, improved business efficiency and profit increase. The implementation of this
concept will enable cruising companies to make two improvements (Williams and
Williams, 2007) of:
-
management processes (planning, measuring, controlling, monitoring, etc.),
and
operational processes (implementation of sales campaigns, fraud detection,
optimization of goods and services flows, payments, etc.).
6. CONCLUDING OBSERVATIONS
In order to get actual effects of the application of business intelligence concept as a
platform to cruise supply chain management, decision made on its implementation and
application should be a strategic one. Three basic cruise SCM goals include active cost
management, value increase for clients by higher satisfaction level and creation of
competitive advantages, and they are achieved by application of this concept.
The time of response under existing business terms has become extremely important.
However, business decisions should be made based on relevant information. By BI
application cruising companies switch from global industrial economy to the economy of
knowledge defined by the following elements:
- information becomes a dominant resource in business making,
- information-communication technology becomes a basic infrastructure at
business level,
- knowledge based on information is not spent but its value increases.
Although one can say that the application of business intelligence tends to the
accumulation of data and information, the truth is complete opposite. Namely, the basis
of this concept is generating of better and more qualitative information necessary for
decision making process, in fact rendering to the users only the information needed but
timely, and presented in a way most suitable to the decision maker (Panian and Klepac,
2003).
BI is business radar that should provide the management with a reliable picture of reality,
as much complete and consistent as possible, and relevant for decision-making area.
Introduction of this concept into cruising companies is the result of strategic devising and
strong management tool enabling accurate, real and timely identification of opportunities
and threats, real market position and recognition of trends, thus making possible adequate
business orientation based on knowledge gained. In this way assumptions for a
sustainable development and company prosperity are established. J.M. Keynes claimed in
1936 that difficulty was not in new ideas but in reluctant giving up of old ones.
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