Track: Supply Chain

Abstract

With the world moving towards the Industry 4.0 Standard, the number of machines, processes, and services generating and collecting large quantities of data will increase greatly in the future. This will give rise to Big Data, which is enormous amounts of data that cannot be processed with conventional computation techniques. To uncover patterns in the huge amounts of data and gain valuable insights on it, Big Data Analytics is devised. Supply Chain is a significant contributor to Big Data wherein the diversity of information is large. The data accumulated by Supply Chain contains information from the key entities such as manufacturing, logistics, and retail. The use of Big Data Analytics on a collection of such copious data sets can cultivate a proactive decision-making approach for predicting key opportunities and risks in Supply Chain. This paper discusses the various applications, benefits and the challenges of Big Data and Big Data Analytics in the Supply Chain.