Impact of Big Data and Analytics in supply chain execution

NAME : JOVANKA HASLIM 林梵鈴 D0726903

TITLE : Impact of Big Data and Analytics in supply chain execution

 LINK : https://www.supplychaindigital.com/logistics/impact-big-data-and-analytics-supply-chain-execution

Companies wanting to increase efficiency and profitability in supply chain execution should take note of big data. According to Ramesh Sethuraman and Satya Krishna Kunadharaju, the information provided by big data can:
  • Build efficiencies into the supply chain.
  • Improve relationships with supply chain stakeholders.
  • Be agile and proactive.
A Practical Application
Efficiency and expediency is the lifeblood of FedEx, which handles nine million shipments a day and all the accompanying data. But FedEx isn’t just familiar with big data, it recognizes the potential behind it. The company recently decided to apply that data to physical items by creating next generation, first-of-its-kind information service that combines a GPS sensor device and a web-based collaboration platform. Originally used by the healthcare and life sciences industries as a means to track high value and/or extremely time sensitive shipments (and now available to all industries). 
Analyzing Big Data
“Supply chain analysis is an untapped opportunity for many organizations that have data at their disposal but lack either the tools or the knowledge to exploit it,” notes Agarwal. “Our experience shows that manufacturing companies can realize a margin improvement of 2 to 4 percent by applying more analysis to the data they already have.”  Big data, properly analyzed, says Agarwal, can help companies to employ parametric pricing, predict commodities volatility, and mediate any issues that arise from merger and acquisition integration. It can improve forecasts, demand planning, sourcing, production and distribution, though it’s best used when looking at the big picture.

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