Big Data: the latest rage in supply chain management

© Viorel Dudau

Inevitably we are going to writing more and more about Big Data this year. It is, so the saying goes, gaining traction. And rightly so, because while many supply chain managers – and the boards they report to – might find themselves bemused and befuddled by the pace of change in today’s society, much of it propelled by the super-speed connectivity of today’s society, Big Data represents a chance to make sense of those changes, almost as they are happening. “Advanced algorithms and machine learning can facilitate increased forecast accuracy across a company’s SKUs, which drives greater turns, less waste, less inventory, and fewer stock-outs, which leads to higher EBITDA, lower working capital, and greater competitiveness.”