BUILDING SUPPLY CHAIN AGILITY
BIG DATA & ANALYTICS
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BUILDING SUPPLY CHAIN AGILITY
Until now , the lack of capabilities and the absence of usable , manageable data hindered better informed value-based decision making and proactive risk management efforts . But no longer must this be the case .
Organisations today have a host of new technology and powerful allies to leverage in their fight against the Amazonian giants and retail powerhouses . Procurement , supply chain risk management , and S & Op planning can all be fueled by big data , data analytics , data science , or whatever you choose to call it .
Big data analytics can provide tools such as probabilistic and predictive modelling that can be leveraged for supply chain risk management methods such as scenario building , what-if and risk / reward analysis .
IBM is an excellent example of a company leveraging these powerful tools for improved risk management and increased supply chain agility . Watson , IBMs cognitive computing engine , monitors and evaluates IBM ’ s global supply chain around the clock to identify potential disruptions , evaluates possible impacts and provides possible risk
FEBRUARY 2021