THE IMPACT OF BIG DATA ANALYTICS ON SUPPLY CHAIN MANAGEMENT PRACTICES IN FAST MOVING CONSUMER GOODS INDUSTRY: EVIDENCE FROM DEVELOPING COUNTRIES
Leading trends over the last couple of years tend to be the increasing value of big data and analyzing the information through analytics. The information has tremendous value; fast moving consumer goods (FMCG) businesses must capitalize on the assortment of information by proper and in-depth eval...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Hailey College of Banking and Finance, University of the Punjab Lahore
2022-06-01
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| Series: | International Journal of Business Reflections |
| Subjects: | |
| Online Access: | http://journals.pu.edu.pk/journals/index.php/ijbr/article/view/5395 |
| Summary: | Leading trends over the last couple of years tend to be the increasing value of big data and
analyzing the information through analytics. The information has tremendous value; fast
moving consumer goods (FMCG) businesses must capitalize on the assortment of
information by proper and in-depth evaluation with the usage of big data analytics (BDA).
Objective: This article seeks to spotlight the changing dynamics of the SC managing
atmosphere, to recognize the way the two leading trends will influence supply chain
management (SCM) in future, to demonstrate the advantages which may be derived, and to
generate suggestions to provide SC managers if BDA is adopted. Method: A survey was done
amongst workers of multinational FMCG businesses across the world: the Americas, Asia
etc. Systemic situation modeling is used in the quantitative evaluation to analyze the
information gathered from surveys. The process of deriving value from the large quantities of
information within the SCM is defined. Results: The adoption of BDA technologies can
develop extensive value-added as well as a financial gain for companies and can quickly be a
regular during the entire market. It is demonstrated, through examples, the way SCM location
might be influenced by these brand-new developments and trends. Within the examples,
BDA have been adopted, utilized, and applied effectively. Big data and analytics to draw out
value coming from the information can create a big influence. Conclusion: It is clearly
suggested chain administrators pay attention to these 2 trends, since better usage of BDA can
ensure they hold abreast with innovations modifications, which could help improve company
competitiveness.
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| ISSN: | 2708-9290 2708-9304 |