Supply Chain Management (SCM) is the process of managing the entire flow of goods & services from raw materials to the end customer. SCM involves coordinating the activities of suppliers, manufacturers, distributors, and retailers, in real-time, to ensure that products and services are delivered on-time and as efficiently as possible.
Big data is a broadly used term that describes complex datasets that are difficult to process using mainstream data processing techniques. Big data involves large amounts of raw facts and comes from a variety of sources; such as social media, trackers or transactional data, and can be used to gain intel and provide actionable intel.
Big data is a major component of supply chain management that helps organizations improve their operations. One use case would be taking data from the tracking mechanisms and analyzing it so organizations can gain insights into their performance and efficiency in order to improve their supply chain, identify bottlenecks, and optimize operational inefficiencies.
Big data is also an integral part forecasting and demand planning. By analyzing patterns and identifying anomalies, big data analysis can help organizations better anticipate trends in their supply chain, as well as plan production and distribution requirements
Supply Chain Management (SCM) leverages raw data so it can better help organizations improve their operational efficiency and provide actionable insights. By simultaneously analyzing data from numerous sources, organizations can gain better insights into their supply chain, reduce waste, optimize efficiency, and most importantly, increase the customer experience.
