What is the role of big data in enhancing supply chain management?

Introduction

Big data has become a transformative force in supply chain management (SCM), offering new opportunities for operational excellence, cost savings, and enhanced decision-making. This synthesis explores the role of big data in enhancing SCM by examining insights from multiple research papers.

Key Insights

Operational Excellence and Cost Savings:
- Big data analytics improves operational efficiency, cost savings, and customer satisfaction by enhancing demand management, vendor rating, and reducing communication gaps in SCM .
- Adoption of big data technology leads to significant value-added and monetary gains for firms .
Enhanced Decision-Making:
- Big data analytics provides tools for better decision-making and business intelligence, crucial for handling volatile and dynamic supply chains .
- It supports predictive analysis and modeling, improving demand forecasts and supplier performance management .
Supply Chain Visibility and Integration:
- Big data enhances supply chain visibility and integration by connecting digital networks through devices and sensors, revolutionizing data generation, sharing, and communication .
- It enables integrated enterprise business analytics, facilitating more targeted business decisions and lowering costs .
Strategic and Competitive Advantage:
- Companies using big data analytics gain a competitive advantage through applications like optimizing supply chain inventories and enabling supplier risk assessment .
- Big data analytics is seen as a strategic asset that should be integrated across business activities to enhance overall supply chain performance .
Future Trends and Challenges:
- The future of big data in SCM includes increased automation of SC processes and a shift in traditional SCM roles, emphasizing human intuition and strategic decision-making.
- There is a need for continuous exploration of new statistical methods, tools, and approaches, such as cloud computing and security technologies, to fully leverage big data in SCM.

Conclusion

Big data plays a crucial role in enhancing supply chain management by improving operational efficiency, decision-making, and supply chain visibility. It offers significant cost savings and competitive advantages while driving future trends towards increased automation and strategic integration. The adoption of big data analytics is essential for firms aiming to achieve operational excellence and maintain a competitive edge in the dynamic landscape of supply chain management.

What is the role of big data in enhancing supply chain management?

Summary

Introduction

Key Insights

Conclusion

Sources and full results

Impact of big data on supply chain management

Big data technology enhances supply chain management by improving operational excellence, cost savings, customer satisfaction, visibility, and reducing communication gaps between demand and supply chain management.

Big Data in Supply Chain Management

Big data is revolutionizing supply chain management by transforming it into digital networks connected via devices and sensors, enabling new research streams and transforming the way data is generated, shared, and communicated.

How to Use Big Data to Drive Your Supply Chain

Big data analytics can drive supply chain operations by enabling targeted marketing, optimizing inventories, and enabling supplier risk assessment.

Big Data Analytics in Supply Chain Management: A Systematic Literature Review and Research Directions

Big data analytics in supply chain management enhances sustainability and performance, but there are research gaps and future research directions.

Big data analytics in logistics and supply chain management: Certain investigations for research and applications

Big data analytics can provide valuable insights into logistics and supply chain management, enabling strategic asset integration across business activities.

The role of big data for Supply Chain 4.0 in manufacturing organisations of developing countries

Big data analytics plays a crucial role in enhancing Supply Chain 4.0 business performance in Indian manufacturing organizations.

Big data analytics in supply chain management between 2010 and 2016: Insights to industries

Big data analytics has significantly improved supply chain management between 2010 and 2016, offering valuable insights for both academia and practitioners.

Role of Big Data Analytics in supply chain management: current trends and future perspectives

Big Data Analytics (BDA) significantly improves supply chain management by optimizing business operations and analyzing customer behavior.

The Impact of Big Data Analytics on Company Performance in Supply Chain Management

Big data analytics can improve supply-chain management by enhancing predictive analysis and modeling practices, but companies need to explore new statistical methods, tools, and approaches.

The future and social impact of Big Data Analytics in Supply Chain Management: Results from a Delphi study

Big Data Analytics in Supply Chain Management will improve demand forecasts, reduce safety stocks, and manage supplier performance, but will increase the importance of human intuition, trust, and strategic decision-making.

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