Big Data Reverberations in Supply Chain Management System
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Big Data Reverberations in Supply Chain Management System

By CIOReview | Wednesday, April 2, 2014

FREMONT, CA: Big Data involves capture, storage, curation, search and analysis of immensely large and complex data that requires dedicated data analysis tools. The legacy data processing systems currently implemented at a low scale seem to be below par in Big Data analysis.

Supply chain companies come across business criteria such as order management, demand planning, warehouse management, price management, product planning, transportation planning, product lifecycle management and Manufacturing Execution Systems. Each of these criterias can sum up to a huge amount of data that couldn't be broken down into meaning insights through legacy ERP software and data processing systems.

The recent market research report says that the overall Big Data has been curated into various sections based on the industry verticals and region at a global level. The accentuating and attenuating factors in leveraging Big Data in supply chain management have been discussed. Joint ventures, collaborations and investment prospects have been looked into with in-depth analysis.

Companies need to incorporate the use of advanced analytics to tackle problems which hampers their growth. Through advanced analytics, companies can learn about ways they could mitigate risks. Big data predictive analysis also plays a key role in analyzing a product and service failures in the market. Text mining and rules-based ontologies are few techniques which can be utilized to build listening capabilities to learn early and mitigate issues quickly.