Chances are, your company has a lot of useful supply chain data that’s not being effectively utilized. On the surface, much of this information may appear irrelevant, but when pieced together with other key stats, it could be used to improve your transportation and logistics processes.
“Effectively Managing Big Data in Your Supply Chain,” a 2017 whitepaper by SaaS logistics TMS platform Keubix, examined the role of big data in the supply chain. Defined in a variety of ways, big data essentially refers to the large quantity of data managed by businesses. When properly utilized, this information can have a positive short-and-long-term impact on your organization.
Diving into this data and making sense of it is a challenge many companies are currently tackling, because the potential rewards are significant. When you think about it, not taking advantage of valuable information at your fingertips really doesn’t make sense. If you want to keep up with your competitors, you’ll need to get onboard, because this trend is here to stay.
5 Ways to Use Big Data in the Supply Chain
Think again if you assume your supply chain is too small to for big data to be useful. Businesses of all sizes can benefit from the insights offered by this information. This can allow you to seamlessly connect all transportation and logistics data and use it to your advantage.
In the whitepaper, Dan Clark, Keubix founder and president, highlights five ways shippers are using big data to streamline operations:
- Connecting all business partners on one platform.
- Improving global logistics planning.
- Gaining real-time visibility of data and sharing it with stakeholders.
- Conducting regular audits to improve company processes.
- Eliminating bad habits by making their impact known.
If you aren’t currently using big data to improve your supply chain, the idea might seem a bit daunting, but it’s more than worth the effort. Stay tuned for part two of this series, which will discuss the benefits companies are realizing by investing in big data efforts.
Searching for top engineering, maintenance, or operations management professionals? Contact MAC Incorporated. Our niche-based recruiting and staffing firm is here to help you build a winning team!