SUPPLY CHAIN TECHNOLOGY
Arun explains that, instead of applying blanket growth factors across product lines,“ companies can now identify much more granular patterns, enabling more precise demand predictions”. Enhanced accuracy directly translates into reduced waste by preventing overstock situations that have historically plagued supply chains.
The Internet of Things( IoT) further amplifies these capabilities through continuous monitoring systems that track critical factors such as temperature and storage conditions throughout the supply chain. Such systems provide real-time alerts when there is a risk of product spoilage, enabling immediate, corrective action.
“ For manufacturers with complex shelf-life requirements,” Arun goes on,“ big data helps optimise inventory allocation by matching product expiry dates with retailer-specific requirements, ensuring products reach the right channels at the optimal time to minimise waste.”
Returns management represents another frontier where big data analytics can optimise processing times and routing decisions. By accelerating the return of merchandise to shelves, companies prevent waste from items becoming obsolete during lengthy return cycles. supplychaindigital. com 183