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Implementation of Big data analytics to increase efficiency in supply chain management

Big data analytics plays an important role in supply chain management. 97% of supply chain executives have reported how big data analytics helped them to grow their business and only 17% of any particular industry have implemented this process. This process generates higher visibility and deeper insight to the customer behaviour and demand supply scenario. It also helps to discover and manage supplier relationships more effectively. Big data help to understand customer needs and make a 360 degree analysis regarding marketing channel, segmentation and acceptability. Predictability helps to create more efficient supply chain progress (increased ~10%). It identifies supply chain risk by considering the previous demand, supply scenario almost accurately. Supply Chain Traceability and recalls are data-intensive and highly correlated to supply chain risk. The ability to quickly meet customer fulfilment is an important driver. It helps in competitive advantage across all industries which can be achieved by big data analysis.

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Tuesday, 28 January 2020
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