Data analytics and supply chain management
Data trends, statistics and quantifiable indicators had been a part of supply chain management for long. But all is changing now in a very rapid form. The type of real time analysis, which is available, out of large gathered unstructured data is making the difference. The big data analysis can uncover hidden patterns, unknown correlations, market trends, customer preferences and other useful information that can help organizations make more informed business decisions at all levels. Data analysis options are readily available and can be used in areas of inventory management, transportation, logistics and forecasting. In warehouses, digital cameras are used to monitor stock levels. This is taken further for forecasting. The same data from camera can be used through machine learning algorithms to be fed in an intelligent stock management system to predict ordering levels. In other words, the whole setup of warehouses and distribution centers can run on its own with very little hu...