Here is our answer:
👉 Demand forecasting.
Businesses can improve their inventory levels and estimate demand more precisely by looking at sales data and customer behavior trends.
👉 Supplier performance management.
Big data allows businesses to monitor supplier performance and pinpoint problem areas, like slow delivery and poor quality control.
👉 Transportation optimization.
Companies can use data to determine the most efficient routes for delivery trucks and select carriers based on their performance history, which can help reduce costs and fuel consumption.
👉 Risk management.
Big data can help companies identify and mitigate supply chain risks, such as supplier financial health and potential disruptions (like natural disasters).
Overall, big data can help companies make better decisions and optimize their supply chain operations.
Do you have questions about big data applications in supply chain management?
Let us know in the comments!
Synvance as a management and technology consulting company is advising companies regarding their key transformation activities from identification to business-as-usual.