Utilizing Big Data to Boost Supply Chain Dynamics
Innovations that incorporate big data into supply chain management, processes and technology have catalyzed sustainable initiatives. Operational excellence in big data management is key to progress in green technology and process growth.
Fremont, CA: A wide variety of manufacturers have started to integrate big data into their supply chains and processes, from pharmaceutical and car manufacturers to defense contractors and building suppliers. The use of big data in design and operating processes, in particular its application to supply chain management, has become the best predictor of competitive advantage.Many main aspects of product design, including market research, design development, prototype testing and initial product launch, are affected by big data.
From a management perspective, big data analytics can streamline procurement by combining vast amounts of diverse data from suppliers and their partners. Logging inventories and estimating asset productivity will result in lower costs and higher performance. Collection and review of customer feedback and interaction allows personalized, positive user experience to be provided.Big data enables end-to-end optimization in product design, development, production, marketing and support to allow faster decision-making and overall operational performance.
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Using Big Data
Innovations that incorporate big data into supply chain management, processes and technology have catalyzed sustainable initiatives. Operational excellence in big data management is key to progress in green technology and process growth. Specifically, management-level attitudes towards innovation and employee development will decide the success of innovative green products, which will contribute to sustainable supply chain results.Without successful management and use of big data analytics, new green products are far more likely to fail and opportunities for improvement in the supply chain could be missed.
Although several businesses have concentrated on creating greener goods, few have made full use of big data by applying research to their supply chain sustainability. If a product has been released, big data will suggest marketing strategies, guide business decisions and predict supply and demand. These metrics provide predictability of supply chain requirements, allowing sustainable supply and transport to be proactive.
