Perfect supply chain execution incorporating Big Data holds the key to business success

big dataSupply chain execution is becoming more complex each time a new technology is brought into the supply chain window. One of the latest innovations is the expanding use of so-called “Big Data” within supply chain methodology.

Big Data in itself is not a brand new innovation. It’s been around for many years, but until the appearance of computing in the cloud, it was only huge corporations who were able to afford it. This is because it is extremely memory consumptive. To store and analyze Big Data, companies had to employ millions of dollars worth of hardware and house it in huge, secure, clean air environments.

But with the development of computing in the cloud, the use of remote, virtual storage and data processing plants has proliferated. Today, the majority of SMEs are now able to take advantage of Big Data by contracting the process out into the cloud.

Big Data when fully integrated into supply chain software can bring about a greater degree of finesse in terms of supply chain execution. However, in order to maximize the benefits of Big Data in terms of successful supply chain execution, it is necessary to adopt certain protocols.

Look upon Big Data as a prized corporate asset 

As with any corporate sources of data, Big Data has to be appreciated as an important asset. Before Big Data came along, data was treated jealousy as being the property of individual departments. But now, the size and scope of Big Data means that it can benefit many departments within a business and must, therefore, be shared freely. It is only by sharing the data freely that every useful aspect can be explored and exploited to maximize supply chain execution.

Developing a corporate culture that embraces the use of Big Data

The greatest use of Big Data is to bring about change. All businesses have to change and adapt in order to survive. It’s why supply chain execution is so important. It facilitates and supports the change process. Any form of new data has the power to influence preconceived notions. That is its real purpose. But the different disciplines within a business’s structure must be prepared to embrace the new data and act on it accordingly.

Exploiting the diversity of Big Data

Big data is not only useful from a sales and marketing perspective, which can then be used to modify supply chain execution. It can also affect the basics of a business, including its infrastructure and even the business philosophy. It contains a whole encyclopedia of information that touches on all aspects of corporate existence. It’s, therefore, important that the IT department remain fully aware of the diversity of information that it contains. Once this is understood, the appropriate programs and software can be designed and written to extract and analyze this information.

The challenge of omni-channel to supply chain execution,

The arrival on the scene of omni-channel selling necessitates the use of Big Data in order have sufficient information about the complete wide range of products that is available through any channel to the consumer. An omni-channel philosophy and methodology brings with it a whole new concept in terms of conducting and managing business protocols. However, these changes must be integrated into the business model if the supply chain software is to remain current, and supply chain execution must be precise.

Embracing the importance and impact of social media

The power of social media must also be recognized by the business world. Social media is in many ways no more than a specific type of Big Data. It’s a type of data which can be used to measure any product’s impact on the public at large, and this is indeed key information for any organization. But it can also be used to measure the customer experience too, and this is another example of how Big Data creates the opportunity to influence how a company operates.

In pursuit of supply chain execution perfection

But with any changes that are picked up on through data analysis, the fundamental importance of modifying supply chain software accordingly cannot be overstated. Without the very best in supply chain execution, these changes will not be reflected in the final analysis.

As businesses aim to become more demand driven supply chain execution perfection is a prerequisite.

What aspects of your employer’s business philosophy would benefit by embracing big data and using it to drive supply chain execution perfection?

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