September 12, 2017
PUBLISHED BY Bernard Marr
In retail, supply chain efficiency is essential. Inventory management, picking, packing and shipping are all time and resource-intensive processes which can have dramatic impact on a business’s bottom line.
The problem is these are complex processes, particularly when it comes to large scale operations covering multiple outlets and territories. The fact they are often dependent on outside forces – suppliers, service providers and even weather – make getting it right even more difficult.
This is why retailers – both big and, increasingly, smaller operations too – are keen adopters of Big Data-driven analytics technology. Creating efficiencies in complex systems which involve multiple, often compartmentalized processes is an area where this technology excels. In short, it’s about the ability of machines to make lots of little savings and efficiencies, which together add up to very large ones.