In our most recent LinkedIn poll, B2BE asked our social media followers how they would describe their current relationship with big data and analytics, specifically how they were using it to manage their supply chains.
What is big data and analytics?
Big data and supply chain analytics use quantitative approaches to improve decision making at all parts across the supply chain. Big data works by putting together earlier sales with predictive technology to provide inventory managers with instructions on the quantities they should expect. This helps to reduce costs significantly so that the supply chain can order enough supplies to stock shelves without having to order too much and risk wasting stock. Using this technology in your supply chain will lead to better predictions of your customers’ needs and wishes, improvements in your supply chain efficiency, better assessments of supply chain risk, and improve your supply chain traceability.
Big data and analytics: what we found
The responses to our poll can be found below:
- Of these respondents, the highest number, 71%, said that yes, big data and analytics were a key part of their supply chain management strategy.
- The next highest number, 29%, and, in fact, the only other answer to receive responses were those that said not yet but were interested.
- The first of the two responses to receive 0% were for those not yet using big data and analytics but were actively pursuing it.
- Finally, the other answer to receive no votes, putting it also at 0% were those that said no, and they were not planning to.
We can see that 71%, the vast majority, of respondents were already using these tools. As well as this, a combined 100%, showed that they were at least interested in doing so. Despite no respondents actively pursuing big data and analytics, this shows a reassuring appetite among companies for innovation.
B2BE’s experience in the supply chain sector allows our customers to build, expand and adapt successfully, enabling greater effectiveness. To engage with B2BE and offer feedback on what matters most to you and your business, make sure to follow us on LinkedIn and across social media. You can also vote in our latest LinkedIn poll. If you’d like to discuss your supply chain strategy, including big data and analytics get in touch with us.