The Impact of Data Analytics on High Efficiency Supply Chain Management

Abstract

Change is inevitable, so when supply chain (SC) managers strategize for future years, they must deal with challenges of the global supply chain management (SCM) issues. Leading trends over the last couple of years tend to be the increasing value of big data and analyzing the information through analytics. The information has tremendous value; businesses must capitalize on the assortment of information by proper and in-depth evaluation with the usage of big data analytics (BDA). This article seeks to spotlight the changing dynamics of the SC managing atmosphere, to recognize the way the two leading trends will influence SCM in future, to demonstrate the advantages which may be derived, and to generate suggestions for providing SC managers if BDA is adopted. The process of deriving value from the large quantities of information within the SCM is defined. It is demonstrated, through examples, the way SCM location might be influenced by these brand-new developments and trends. Within the examples, BDA have been adopted, utilized and applied effectively. Big data and analytics to draw out value coming from the information can create a big influence. It is clearly suggested that chain administrators pay attention to these two trends, since better usage of BDA can ensure they keep abreast with innovations modifications, which could help improve company competitiveness.

Keywords

• supply chain management
• big data analytics