Data analytics in supply chain process improvement and risk management
Supply chain process improvement and risk management
The time has come for supply chains to benefit from the many advantages of varied high velocity, high volume sources of data to enhance supply chain agility, data integrity, and improve consumer experiences.
Supply chains have started looking for innovative and agile technologies with more effective use of data sources, at lower costs, in a more repeatable manner. One of the pivotal advantages of big data is its ability to enable supply chains to become increasingly demand-driven with increased responsiveness to customer demand and better customer experience. Big data solutions will enable supply chains of the future in multiple ways.
Some examples include the ability to:
- create a responsive and demand-driven supply chain
- evaluate total supply costs
- reduce the risk of supply chain financing
- adopt a greener focus, and
- develop a proactive tax strategy.
In this third paper of our four part series, we investigate supply chains of the future and how we believe they will utilise the power of data to become more agile, responsive, demand driven and customer centric. Furthermore, we discuss supply chain risk management and resilience enhancement practices and illustrate how these practices are being used to benefit from big data solutions to deliver more effective operational results.
