In today’s business environment, supply chains have become even more complex with the involvement of various stakeholders spanning across the globe. The customer has also become more demanding. Businesses need efficient responses to these market dynamics.
Thankfully, the solutions lie within the companies themselves. Companies have access to massive structured and unstructured data streaming emanating from supply chain. Companies can leverage this data for supply chain innovation. Big Data tools and technologies can help companies reduce inventory, respond to customers efficiently, develop new products, maximize profits and increase agility.
Forward looking companies provide an enabling infrastructure to reap benefits out of Big Data. You need facilities for capturing, processing, analyzing and distributing data. Through Big Data, you can manage your inventories in real-time and leverage analytics to take better decisions.
Big Data helps supply chain management in the following ways:
- Demand forecasting – Big Data can deliver demand signals in real-time helping you put in place dynamic demand and supply chains. It helps you maximize profits and reduce losses.
- Real-time tracking – Through real-time data analytics, you can keep a track of shipments which can help reduce losses. You can optimize delivery schedules, tackle unforeseen circumstances and inform customers about delivery updates. You can also discover new routes, if needed.
- Warehousing – Analytics on product inventory, demand and the warehouse layout can help you optimize warehouse operations.
- Pricing strategies – Through data from internal and external sources, you can develop pricing models that can increase profits. You can also employ demand forecasting for products at different prices. You can then use these insights to generate accurate pricing strategies.
Implementing Big Data places new demands on businesses right from technological support to a cultural change. Why not leave that to us? e-Zest, with its wide experience of helping companies hop on to the Big Data bandwagon, ensures a smooth ride for your business as well. We make sure that Business Intelligence is built in every part of the supply chain. Our Big Data team delivers clean, consistent data models along with superior data governance which can make a huge impact on your supply chain.
To learn more about our big data solutions for supply chain management, write to us at email@example.com.