Big data analytics is assisting in the improvement of supply chain management. It addresses several issues at the strategic, operational, and tactical levels. Big data is having an impact on all aspects of the supply chain. It includes everything from shortening delivery times to finding ways to bridge the communication gap between manufacturers and suppliers. Analytics reports help decision-makers improve operational efficiency and productivity by monitoring performance. Data-driven decisions are supplemented by supply chain analytics to reduce costs and improve service levels.
How Big Data Is Transforming the Supply Chain
Leading telecommunications companies are actively investing in big data analytics to analyse their customers’ usage patterns and habits. The analytics report information enables businesses to retain subscribers and significantly increase revenue.
Big box retailers and top online stores with a large inventory face a number of challenges. Big data analytics allows operations managers to gain a minute-by-minute overview of operations and identify bottlenecks that stymie supply chain processes. Furthermore, consumer trends allow businesses to promote top-selling products and optimise inventory.
Applications of Big Data in Supply Chain Management
Product traceability is essential for efficient supply chain operations. Using barcode scanners and attaching radio frequency identification devices to specific products, supply chain managers can easily trace a product. Big data analytics allows businesses to collect accurate product information, allowing operators to stay on top of their distribution cycle. For example, F&B managers will be able to predict when food spoilage is likely.
Improved traceability ensures that goods are tracked from production to retail. Improved traceability allows businesses to better coordinate with supply chain stakeholders in order to streamline distribution.
Big data sets are useful when businesses use the information gathered about products to predict customer needs. Businesses can improve profitability, predict customer demands, and reduce supply chain waste by using accurate forecasting. Businesses are now using big data to predict customer preferences while also accounting for external market factors.
According to a September 2014 SCM world report, 64% of supply chain executives believe big data is an important and disruptive technology. Businesses can use big data to improve customer service and relationships across the board. There is a better chance of meeting demands when supply chain managers have access to accurate customer information at every stage. Big data analytics also enables businesses to address distribution-related issues.
In the physical distribution of mobile prepaid cards in our early days more than 20 years ago, there was a massive amount of work and learning on the go.
It was a new and revolutionary mobile service that was rapidly spreading on a global scale in the early 2000s.
To register dealers as prepaid touch points, KAT’s small team had to comb the streets on foot.
To handle the ever-increasing transaction volume, our founder’s entrepreneurial drive to ride the prepaid service growth wave steadily led to positive changes.
KATSys™ is now a full-featured distribution management system with tracking, handling, reporting and data mining capabilities – making it ideal for businesses dealing with high-volume, fast-moving commodities.
KATSys™ is the epitome of the ambition to be the best, where invention is the culture, transparency and management of operations are keys to success and optimising business profitability is communicated like a heartbeat across the supply chain.
The daily distribution operations are all about efficiency, efficacy, quantification and accuracy.
We have a mandate to deliver absolute visibility, openness, and security across the supply chain for all of our clients through digital solutions.
With that in mind, we will continuously strive to become the preferred solutions partner regionally by 2025 and worldwide by 2030.
If you are on the same page with us, get in touch now!