Big data finds place in supply chain
The supply chain processes of large companies are deeply complicated, with objects and data moving between partners quickly. Organizations can connect across the world, making processes more in-depth and involved than ever. Companies can benefit from turning the mass of data originating from these processes into high-speed insight using big data analytics.
Supply Chain Digest's Dan Gilmore recently listed his choices for the coming year's supply chain trends. He stated that analytics will be a strong factor in the modern procurement landscape, with real-time insights from unstructured data helping companies optimize their processes.
Gilmore conceded that the words "big data" have been used so much in the supply chain business that they have taken on buzzword status. He urged companies not to overlook them, stating that real-time data can improve decision-making.
Visibility is improving in the supply chain, which is leading the way for analytics processes. Companies are better able to track their processes than ever before, with Frost and Sullivan recently reporting that apparel sellers are tracking individual objects rather than cases or large containers. This means they are better able to cope with exact customer demand. Consumer wishes can, themselves, be studied through big data analytics.