Big data - real time fact-based decision: the next big thing in supply chain

Abstract

Big data has become the life blood of the organisations. Organisations are gaining an understanding that if all the data that streams into businesses are captured and analysed, then they may prove to be a valuable source of information. The thought of data creating value is not new; businesses have always wanted to derive insight from data for making real time, fact-based decisions. In the domain of supply chain, companies are using big data analytics to manage activities like warehousing, transportation, inventory management, delivery, demand forecasting and scheduling. For this they are applying various data analytics tools and techniques. The aim of this paper is to explore all these application in detail and identify the tools and techniques that are used across upstream and downstream supply chain and develop a theoretical framework of application of big data in supply chain management (SCM).