An in-depth exploration into the world of big data and the significant opportunities it provides for supply chains to increase agility and efficiency.
Big data and opportunities for supply chains to increase agility and efficiency.
More than ever before organisations are faced with streams of data flooding in from various channels at an accelerating rate. Data overwhelm can hamper an organisation's ability to keep up with data inflows and derive valuable insights. The problem can be exacerbated by interactions between internal and external parties up and down the supply chain which, in turn affect business operations.
It is becoming increasingly apparent that supply chains that learn to harness the power of the data sources benefit significantly; leveraging the advantages of advanced analytics, supply chains can become more responsive, demand-driven and customer centric.
Decision makers in supply chains are seeking ways to effectively manage big data sources. Big data solutions that support integrated business planning are currently helping organisations orchestrate more responsive supply chains as they better understand market trends and customer preferences.
Applications of big data at a global level are enabling supply chains to adopt a proactive rather than a reactive response to supply chain risks.
Advantages derived from the analysis of big data sources to increase supply chain agility and cost optimisation are numerous. While it is a relatively new approach, it is being embraced by supply chains globally.