Big Data in Logistics and Supply Chain Management
The real-time usage and generation of data have been growing exponentially over the years. Managing these huge volumes of data has been a herculean task and deriving valuable business insights from this pool of unprocessed data has been even more difficult.
Supply chain management and big data:
Big Data is a term which has become quite familiar over the years and has also been considered to be an integral part of any business type which requires to process data and obtain insights from them. With respect to the high volume of data, the skill of supply chain managers lies in efficiently managing this data and filtering out what they actually need and what they ought to ignore.
Getting data through big data in logistics:
Logistics is a process and supply chain is the core of logistics. A streamlined set of procedures is the only way to successfully accomplish supply chain management. In such a scenario, how much help we can get from big data in logistics? Well, the talent of the supply chain managers lies in collecting as much as relevant data as they can from several sources. Thorough scrutiny, analyses and finally filtering of this chunk of data is possible through Big Data. Big Data can be defined as a process or rather a strategy to get the required data from the sea of data. Again, ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), WMS (Warehouse Management System) are few effective mediums through which this data hunting can be accomplished productively. These are information processing systems which greatly contribute to collecting, storing and delivering relevant information in the simplest and most comprehensive form possible to the end user.
What next after obtaining the required data?
Big data in logistics helps to breed a matured business. It supports supply chain managers to get a cumulative overview of the happenings in their business space and look for better opportunities. They are able to sense improved business openings and utilize them in the best way possible.
The predictive analysis goes hand-in-hand with Big Data. Implementation of big data in logistics also allows the users to have a hold on the risk factors involved in the business space. They are able to predict bottlenecks and change their approach towards concerns wherever required on a timely basis which reduces damage, delay and the negative impact on the business cycle.
Big data in logistics motivates better networking and collaborative capabilities which is the core for the supply chain management. This way there is a quicker way to communicate within stakeholders which streamline the complete flow of supply chain and eliminate possibilities of hiccups.
Geo-analytics with big data in logistics can redefine order-to-delivery cycles. It has contributed a lot towards faster delivery with reduced damage along with providing decreased shipment expenditure for supply chain managers.
20Cube Logistics is a technology-enabled logistics service provider and we provide superior freight services across the globe. We adhere to technological advancements in logistics and en route to becoming a leading digital logistics company.
There are absolutely no second thoughts that with big data in logistics, supply chain managers and analysts get to have a firmer hold on business-critical data which will give them more control on the supply chain process.