Last updated on April 25th, 2022 at 04:52 am
It is not hidden from anyone that today's world is very competitive and the marketplace too. In the world of globalization, Higher customer expectations, and constant development of activities in the marketplace, you need to always be a step forward from your competitors. That's what the whole point of logistics and supply chain management courses and big data is.
What is big data?
Big data is explained as a huge set of data that can capitulate or encompass more than an exabyte of data. it makes the traditional systems and applications useless in handling, overseeing, visualizing, and capitulating data in a structured and statistical format. That is why people take up SCM professional certifications so that they can get a better understanding of big data and its relation to the supply chain. How is big data connected with supply chain planning and management is a key feature to understand before you take up any certification for supply chain professionals?
What is the relationship between big data and supply chain planning?
Many organizations try to make changes and upgrade their Big Data Analysis (BDA) capabilities for its obvious benefits. The certification for supply chain professionals gives you that upper hand so that you can be the person the organization needs when they want to manage and handle their data effectively and efficiently.
Currently, the '5V' type of big data is being used by most organizations as it contains 5 key features of big data. These key features can be categorized as:
- Variety
- Veracity or verification
- Velocity
- Volume
- Value
The understanding of these 5 V's is very important whenever you are thinking of taking up any logistics and supply chain management courses. as it has been told already that big data has a very important role to play in the management of the supply chain.
6 major applications of big data in supply chain management
The applications of big data in supply chain management can be learned by certification for supply chain professionals. Big data performs major applications in supply chain management which can be stated as follows:
- Prediction of inventory: it is considered to be one of the most important applications of big data in supply chain management. Big data helps organizations to calculate and credit the inventory required for the upcoming period.
- Control of product quality and temperature: industries like food, agriculture, pharmaceuticals, and chemical processing need to sincerely monitor and observe a few distinct features of their supply chain, among which is product quality and temperature, in which they need to be kept. Big data helps organizations to have an idea of the same.
- Real-time tracking and fulfillment of order: nowadays free sign your order and effective order full payment is a key feature of any supply chain. The inclusion of big data helps organizations to see the traceability of their orders and the fulfillment of each of them.
- Maintenance of machines: machines are a very integral part of industries and supply chains in today's time. Big data has its role here as well. It helps the industrialist to maintain their machines and know the depreciation, the value of the machines, or when to repair them as per the calculation of machine life.
- Keep moving the supply chain: big data has an important role in circulating the movement of the supply chain and that's what makes it unique for the management of the same.
Conclusion
Although investing in big data can be a tricky option for organizations, the outcomes and the benefits of big data Bend on the heavier side. Therefore, if you are looking for logistics and supply chain management courses, then the course of professional certification in supply chain management and analytics by Imarticus in collaboration with IIT Roorkee is the one for you.
