ipl-logo

Big Data Analytics In Supply Chain Analysis

7496 Words30 Pages

INTRODUCTION The success of supply chain planning process depends upon how closely supply is managed, demands are forecasted, inventories are optimized and logistics are planned. Supply chain is the heart of the retail industry vertical, and if managed efficiently, it drives positive business and enables sustainable advantage, Matthew A and Stanley E (2013). If we observe carefully, huge amount of data is getting generated at each and every stages of the supply chain. In today’s digital world we are generating around 200 Exabyte of data each year, Silva R, Bogdan F and Marcin R (2013). Organizations are increasingly questioning their own ability to realize full potential from the huge amount of data they have within their supply chain, Steve …show more content…

Since, it encompasses wide range of activities, which most of time transcend factories or national boundary, complex interdependencies are built into it. As the power base continues to shift from companies towards customers, customer demands have gotten more complex. Companies are looking at Big Data analytics to revamp their supply chain, thereby using Big Data Analytics as a strategic lever. Companies are collecting vast amount of supply chain related data with help of technologies such as sensors, Barcode and GPS, Jacob House (2014). Big Data Analytics offers companies the ability to leverage on the enormous amounts of information driving their global supply chains, Harvard Business review, (2013). Companies are aware that Big Data can be leveraged at various levels of a business. This holds true for supply chain management also. The combination of large, high velocity and varied structure of big data and advanced analytics tools and techniques represents the next frontier of supply chain innovation, Libor K, Christian G, and Michele B …show more content…

They all are eager to take advantages that these solutions may bring. This is true for retail sector as well. Big data analytics has the ability to provide actionable insights retail sector has been looking for long time. These insights can be utilized as a guide for internal decision-making in a wide variety of capacities. Big data analytics’ influence is both growing and expanding into various sectors. We can clearly see this trend for the retail sector also. Few of retail companies are now relying heavily on these

Show More
Related

  • In Praise Of Chain Stores Analysis

    179 Words  | 1 Pages

    In her essay, “In Praise of Chain Stores”, Virginia Postrel hails the progressiveness of chain stores and counters arguments made against them. As a frequent shopper in my city, I have experienced the benefits of chain stores and how they affect the locals that shop in them. I believe that chain stores have not turned Augusta into a boring city because they are familiar even to those new to the area, they have a high standard of quality and service, and provide fair fixed prices. First, Postrel quotes Thomas Friedman in her essay, stating that “…America is mind numbingly monotonous- the most boring country to tour; because ‘everywhere looks like everwhere else…’ the familiarity of a Walmart to someone new to Augusta may be a relief,

    Read More

  • International Business Level 3 Unit 31 Fashion Retailing D1

    1144 Words  | 5 Pages

    This includes ageing population. High numer of women in the worklforce. Increased in a disposable income. Sedntary lifestyles leading to obesity. Higher number of home intern users which is equalling a rise in home shopiing.

    Read More

  • Jp Morgan Chase Essay

    1309 Words  | 6 Pages

    As these businesses gain more profit, banks do as well since there is more cashflow. Additionally, in the expansion stage stocks tend to increase in price. In regards to politics, the firm currently is not majorly involved with the government. It is evident that our economy is doing well through the GDP, amount of production, as well as the average income. The United States GDP has grown by 3.1% and the average income has increased by 4.1%.

    Read More

  • Naics Code: Except Frozen Manufacturing Industry

    703 Words  | 3 Pages

    Industry Life Cycle The industry is increasingly investing in new technologies to upgrade and automate production systems. More efficient and durable machines, as well as improved tracking and monitoring technologies, are reducing the industry's reliance on certain employees. As a result, industry wages, which make up one component of IVA, are projected to increase an annualized 1.5% in the 10 years to 2021. Conversely, profit and depreciation, the remaining components of IVA, are forecast to expand as a share of revenue during this time (McCormack,

    Read More

  • How Does United Parcel Company: Use Of Big Data

    711 Words  | 3 Pages

    United Parcel Company (UPS) which is a logistics company takes many uses of big data. UPS have been tracking package movement and transaction information since 1980s. Currently the company tracks over 16.3 million packages of 8.8 million customers per day. Company takes up about 16 petabytes of data. Big data gets gathered from sources such as UPS transportation trucks that include truck speed, direction, braking, drive train performance, fuel levels etc.

    Read More

  • Marketing Strategy: SWOT Analysis Of Blackberry

    925 Words  | 4 Pages

    Companies are pressured to release new products faster than competitors. Another is increased competition for government contracts, has to compete with Samsung and Apple for contract

    Read More

  • Kmart Supply Chain Analysis

    5718 Words  | 23 Pages

    This paper presents an overview of Kmart retail supply chain in New Zealand. Various IT systems and software used by Kmart are presented in this paper. The new IT systems and business applications are also proposed. In retail sector, IT is involved at every point right from supply chain management to POS terminals for transaction processing. Efficient use of technology and IT systems can bring innovation.

    Read More

  • Advantages And Disadvantages Of Supply Chain Management

    771 Words  | 4 Pages

    These trends logic is that the company is increasingly focusing on those activities in the value chain where it has a distinct advantage, and everything else will be outsourced. This movement is a particular proof logistics

    Read More

  • Coca Cola Unstructured Problem

    994 Words  | 4 Pages

    Tasting Success Article Page 95 Discussion Questions Question 1 Which decisions in this story could be considered unstructured problems? And structured problems? Structured problem Can be defined as a straightforward, familiar and easily defined issue, and it is easily solved by the eight step-by-step process Identify a Problem, Identify Decision Criteria, Allocate Weights to the Criteria, Develop Alternatives, Analyze Alternatives, Select an Alternative, Implement the Alternative and Evaluating Decision Effectiveness. The issue as described in the article is the orange juice production and it is considered as a structured problem, and the way it is produced, its mechanism is responsible for the production as it is based on Coca-Cola’s mixture

    Read More

  • Predictive Analytics Essay

    942 Words  | 4 Pages

    As big data things continue to grow in this modern era, today we can learn how to predict or assume anything that will happen in the future with data from the past. This studies known as Predictive Analytics. Predictive analytics combine methods from machine learning, data mining and statistics to find meaning or pattern from a huge volume of data. Tom H Davenport, a senior advisor at Deloitte Analytics has broken down three primer models on doing predictive analytics: the data, statistics, and assumptions.

    Read More

  • Supply Chain Management In The Boeing Company

    1725 Words  | 7 Pages

    In the early 2000s, The Boeing Company faced many challenges with increasing competition in the commercial aircraft market. To remain competitive, they began the development of their 787 Dreamliner aircraft using an unconventional approach in terms of supply chain management. The historical approach that Boeing used on previous aircraft designs required Boeing to procure raw materials and subassemblies from several different suppliers and manufacture the final assembly in house. Dreamliner sought out to be the first of Boeing 's kind to outsource 70 percent of its major subassemblies under a Partnering for Success initive (5) , leaving Boeing to assemble the final assembly performed in-house. Build airplanes the same way the automobile industry

    Read More

  • Samsung Manufacturing Strategy: Process Strategies

    732 Words  | 3 Pages

    Redesign is less frequent stabilising forecasting. Conclusion This report focused on Samsung Electronics Company Ltd. is a major supplier of cutting edge electronic components and devices. The key product streams of consumer electronics, IT & mobile communications and device solutions were identified.

    Read More

  • Ll Bean Case Study

    1854 Words  | 8 Pages

    If the market is in recession the demand can be expected to be on the lower side whereas in case of boom condition, demand will definitely be much higher. Competitors: The strategies of the competitors over the past periods should be analysed in depth and should be used to fine tune the forecast for next

    Read More

  • Domino's Value Chain Analysis

    1791 Words  | 8 Pages

    The Value Chain 4 4. Operations Strategy Implications (Store level) 5 5. Inventory Management and Demand Forecasting 9 6. Supply Chain Management 9 7. Quality Management 11 8.

    Read More

  • Big Data In Human Resource Management

    975 Words  | 4 Pages

    Abstract Big data is everywhere. Big data revolution is creating paths to collect and analyze information of varying sizes, types and volume. It’s not only used in sectors like marketing, sales and product development. The potential use of big data is also spread to HR and Finance which help in finding new insights and strategic decision making.

    Read More

More about Big Data Analytics In Supply Chain Analysis

Open Document