The way a company manages its supply chain and logistics is arguably one of the most important decisions they will make. Getting the right quantity of products, at the right time, to the right place at the right price impacts a business in multiple areas. Ultimately, an optimized supply chain can be the difference between a successful and thriving business and one that is barely afloat, or worse.
One way to create a supply chain that works best is by utilizing big data.
Big data can seem overwhelming. Its massive volume, great variety and speed at which it must be processed can make the thought of mining for insights seem almost out of reach. However, mining big data can turn up patterns and reveal great insights, including how to best manage a supply chain.
Read on and discover the four pieces of data that should be collected to create a top-notch supply chain, and what each can reveal if analyzed correctly.