Big Data is Driving a Supply Chain Management Revolution
Big data is revolutionizing supply chain management in many ways, and one of the most useful advantages is its ability to help manufacturers move beyond legacy enterprise resource planning and supply chain management systems.
Supply chains are generating unprecedented levels of data, the scope and depth of which continue to grow. Most supply chain data is actually generated outside of the enterprise, and big data can serve as useful tool for increasing collaboration.
Big data is also being integrated into tools for optimization, risk analytics, and demand forecasting. It can allow for more complex networks of suppliers that concentrate on sharing knowledge and collaborating rather than simply completing transactions. It is changing the way in which supplier networks develop, proliferate into new markets, grow and mature.
According to the most recent Chief Supply Chain Officer Report from SCM World, 64 percent of supply chain executives believe that big data analytics is an important and disruptive technology that will spur long-term change management. Senior supply chain execs are largely prioritizing big data analytics over other disruptive supply chain technologies like Internet of Things, advanced robotics, drones, 3D printing, and the sharing economy.
Improved Optimization and Traceability
Big data is also driving geoanalytics to help optimize and merge delivery networks. The combination of geoanalytics and big data sets can help reduce the wait times for cable TV tech help, for example, and give service accuracy a boost.
According to Accenture, embedding big data analytics into operations can accelerate supply chain processes by 1.3 times or more over simply using big data on an ad-hoc basis. It can also help to improve traceability performance and decrease the number of hours that are normally wasted accessing, integrating and managing product databases related to where products are in the field that need to be retrofitted or recalled.
The effects of big data on the supply chain are far-reaching, and even the most cutting-edge firms can still find new ways to use it to their advantage.
This blog post was based off of an article from Cloud Tech. View the original here.