Big Data and Supply Chain Management.. a revolution?
Big data is providing supplier networks with greater data accuracy, clarity, and insights, leading to more contextual intelligence shared across supply chains according to this article by CloudTech computing strategy and technology group. An interesting article referencing recent big data industry research from Deloitte, Accenture and Boston Consulting Group amongst others.
Sources:-
Business Ecosystems Come Of Age (Deloitte University Press)
Supply Chain Talent of the Future Findings from the 3rd Annual Supply Chain Survey
SCM World’s latest Chief Supply Chain Officer Report
Making Big Data Work: Supply Chain Management (The Boston Consulting Group)
Turn Big Data Into Big Visibility.
Forward-thinking manufacturers are orchestrating 80% or more of their supplier network activity outside their four walls, using big data and cloud-based technologies to get beyond the constraints of legacy enterprise resource planning (ERP) and supply chain management (SCM) systems. For manufacturers whose business models are based on rapid product lifecycles and speed, legacy ERP systems are a bottleneck. Designed for delivering order, shipment and transactional data, these systems aren’t capable of scaling to meet the challenges supply chains face today.
6) Greater contextual intelligence of how supply chain tactics, strategies and operations are influencing financial objectives. Supply chain visibility often refers to being able to see multiple supplier layers deep into a supply network. It’s been my experience that being able to track financial outcomes of supply chain decisions back to financial objectives is attainable, and with big data app integration to financial systems, very effective in industries with rapid inventory turns. Source: Turn Big Data Into Big Visibility.
8) Embedding big data analytics in operations leads to a 4.25x improvement in order-to-cycle delivery times, and a 2.6x improvement in supply chain efficiency of 10% or greater. Accenture found that embedding big data into supply chain operations accelerates supply chain processes a minimum of 1.3x over using big data on an ad hoc basis. Source: Big Data Analytics in Supply Chain: Hype or Here to Stay? Accenture Global Operations Megatrends Study
9) Greater contextual intelligence of how supply chain tactics, strategies and operations are influencing financial objectives. Supply chain visibility often refers to being able to see multiple supplier layers deep into a supply network. It’s been my experience that being able to track financial outcomes of supply chain decisions back to financial objectives is attainable, and with big data app integration to financial systems, very effective in industries with rapid inventory turns. Source: Turn Big Data Into Big Visibility.
10) Traceability and recalls are by nature data-intensive, making big data’s contribution potentially significant. Big data has the potential to provide improved traceability performance and reduce the thousands of hours lost just trying to access, integrate and manage product databases that provide data on where products are in the field needing to be recalled or retrofitted. Increasing supplier quality from supplier audit to inbound inspection and final assembly with big data. IBM has developed a quality early-warning system that detects and then defines a prioritisation framework that isolates quality problem faster than more traditional methods, including Statistical Process Control (SPC). The early-warning system is deployed upstream of suppliers and extends out to products in the field.