Supply chain leaders have come to look upon supply chain Big Data as a state-of-the-art tool for improving processes. But, supply chains using Big Data are not limited to today’s processing capacity. As explained by John Richardson of Inbound Logistics, the use of Big Data and analytics could increasing operating margins by more than 60 percent, and the ways in which Big Data could be used in the future are expanding. Consider these top ways it could be used to continuously improve operations as the technology evolves.

Big Data Analytics Can Be Embedded Into All Systems.

Do you know what would happen if you started selling a particular product with little market research, and what should you inventory levels be for an untested product? These questions represent a few of the real concerns supply chain leaders have. But, Big Data analytics can be embedded within every system, including warehouse management systems (WMS), warehouse execution systems (WMS), transportation management systems (TMS) and everything else. This provides the most accurate, real-time view into your enterprise possible.

Supply Chain Big Data Requires Experienced, IT-Savvy Professionals.

Regardless of your existing workforce, today’s use of Big Data is not something taught in previous educational institutions. As a result, your workers may not understand how to leverage this technology to reap the greatest benefit, but the next generation is already using Big Data in their homes and systems, including social media! So, Big Data can actually be a tool to drawing new, experienced professionals to your organization, increasing efficiency along the way.

It Provides a Fast, Simple Way to Obtain and Analyze Information.

Automatic identification and data capture (AIDC) technologies are essential to the use of Big Data, but AIDC technologies, powered by the Internet of Things (IoT) enables supply chain leaders to capture information on a broad scale. According to a KPMG publication, the application of Big Data promotes the cost-effective collection and analysis of information. Unlike small data capture, this drives supply chains into maturity and boosts processes.

It Simplifies Performance Measurement and Management.

As explained by Adam Robinson via Cerasis, the use of Big Data can be applied to performance measurement and management across a supply chain. This includes performance measurement of employees and processes within an enterprise. In addition, strong performance measurement processes will naturally lead to better accountability and accommodation of changing standards in supply chains by employees. As a result, overall efficiency and productivity will increase.

What Does It Mean?

Deploying Big Data analytics to continuously improve your supply chain should be a priority, but it does require a fine-tuned approach to ensure the technology integrates seamlessly with your existing systems. Unfortunately, some legacy platforms lack this compatibility, so you may consider working with an outside entity, like Veridian Solutions, to help you manage the integration, implementation and testing processes after selecting your Supply Chain Big Data-connected systems.