Software analytics let retailers track usage, monitor changes, determine reorders and calculate when and how much to reorder, and check inventory levels on an item-by-item basis. Control of inventory begins right at the cash register: the point-of-sale (POS). Now, inventory records are always up-to-date. This allows better decisions about ordering and merchandising.
The initial reaction was to turn this data into purchase orders for the suppliers (the Spokes). What about instead passing along the POS data to the suppliers and in fact, let them write their own purchase order. The Spoke knows their own products better than anyone else.
POS data can deliver many benefits
- See how well all the items on your shelves sell, and adjust purchasing levels.
- Sales history can adjust for seasonal purchasing trends.
- Provide audit trails to trace any problems.
- Better control through reporting features.
Vendor Managed Inventory (VMI) can include situations in which the retailer has given their vendor access to their point-of-sale (POS) system data. This can result in lower costs when inventory management is outsourced; minimize stockouts; better forecasting by leaving it to the experts.
CIOs know, you know, I know that organizations need to utilize Cloud-based applications and infrastructure so that they are digitally competitive. Why are perceived budget and security concerns stymying digital initiatives?
The path to cloud computing has turned into a highway. But, many CIOs / senior executives are not riding that highway. A new report from cloud provider Canopy, is based on a survey of 950 CIOs and other key executives.
The survey reported fear that businesses will become uncompetitive, with a large majority (74 percent) believing this will happen as soon as the next 15 months. In fact, these executives estimate that their businesses lost a collective $41 billion in revenues last year due to the lack of ideal cloud solutions. Wait a minute, they know something is very wrong; shouldn’t this be a huge priority?
The reasons for the Cloud are all over the business: in marketing & sales, operations, human resources. While 94 percent recognized the need to embrace cloud-based applications and infrastructure to deliver digital transformation, more than two-thirds (68 percent) admitted that a lack of cloud investment was holding back their company’s vital digital initiatives. The CIO’s no longer control investment and operations like they once did; so their role really becomes the “preacher” of the Cloud who reaches all across the organization.
Read more: http://ec-bp.com/index.php/advisors/ec-bps-bloggers/10795-big-data-applications-cloud-a-heavenly-match#ixzz3JUwXhOGO
Below is a guest editorial from our friend Mike Martz
As a supply chain professional, you’re probably scratching your head about the whole Big Data thing, that is unless you’re an early adopter and have already reaped its benefits or suffered through start-up issues. I bet you’re questioning how and when you should stick your toe into the water.
In a previous article (read it HERE), I referenced ideas GXS’s Mark Morley expressed about leveraging Big Data for visibility, auto-replenishment, and preventive maintenance, but those are high level objectives that could require lots of planning and investment. What you should be asking at this point is whether Big Data is even needed to reach your goals.
With its massive datasets and the need to utilize special tools for analytic purposes, Big Data may well be overkill for much or all of your needs. But one real outcome of all the Big Data hype is the increasing expectation that solid information is the foundation of the best business decisions. The fact that Big Data is being so heavily discussed is in itself focusing attention on what’s required to turn data into usable information. You should think about your business needs and how to identify and obtain the data that can provide them.
Read more about what Mike has to say on Big Data:
Most Supply Chain Management executives are concerned with the risks from extended supply chains, but only a few have real end-to-end visibility into their supply chains. For those without this full visibility, outsourcing and globalization have put a “lot of rocks on their wagon.” They see increased demand/supply variability and increased lead times. They don’t see problems until it is too late and then, they are slow to react. We need to aim for a demand driven Supply Chain Management solution in the Cloud. For discussion purposes, let’s call it “SCM NET WORKS” Let’s start with a real time network. Where ever it is and whoever runs it, the aim is to get as many links in the supply chain on it as possible. It must be a multi-party network that uses the latest technology (Cloud, mobile apps, Big Data, etc). It is like a social network. It is a many-to-many network. It is bigger than a bread basket and it is faster than lightning. It will result in a real time decision-making supply chain operation that allows an unlimited number of trading partners to plan, execute, synchronize and optimize in real time all of the business processes and events that are going on in numerous extended supply chains. It includes everything from raw materials right up to the consumer.
Read more about Supply Chain on Demand
Ever get billed by your bank for car insurance when you don’t own a car? Does your cell phone provider fail to send you a bill, yet keeps asking you for your address? Sounds like they both have a Master Data Management problem. The recent emphasis on regulatory compliance, Service-Oriented Architecture (SOA) and mergers/acquisitions has made the creating and maintaining of accurate and complete master data a business must-do.
Most software systems have lists of data that are shared and used by several of the applications that make up the system. For example, a typical ERP system as a minimum will have a Customer Master, an Item Master, and an Account Master. This master data is often one of the key assets of a company. It’s not unusual for a company to be acquired primarily for access to its Customer Master data.
No! I am not going to play this game. Instead, I am looking to my friend Mike Martz for his take. Not a bad move, his 2013 predictions hit the mark!!!
It’s that time of year. Industry experts, high level consultants, research institutions, and famous pundits make predictions about the upcoming year, while conveniently failing to mention how their predictions from last year turned out. Hey, why can’t I take a shot at that?
I’m not only as well-read on supply chain topics as those other guys, but my predictions from last year (risk management, sustainability, omni-channel retail, and big data) were pretty darn solid, if I do say so myself.
It doesn’t take Nostradamus to clearly see that 2014 will be an interesting year for those of us in the supply chain and electronic commerce worlds. New technologies, consumers driving the retail bus, global opportunities and threats…. It’ll be a wild ride! What will dominate the news that matters to us next year? I’m glad you asked!
Read more: http://www.ec-bp.com/index.php/advisors/ec-bps-bloggers/10277-fearless-predictions-for-2014#ixzz2pMUp0NFA
What is all this additional data that is being collected and transmitted? What is this new term “Big Data” mean? What is HADOOP? How do we move Big Data and process it? How else can we help you?
Let’s Start With What Big Data Is
- Every day, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone.
- Gartner defines Big Data as high volume, velocity and variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.
- According to IBM, 80% of data captured today is unstructured, from sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals, to name a few. All of this unstructured data is Big Data.
What Do We Do With Big Data?We are discovering that we can make sophisticated predictions by sorting and analyzing Big Data. But, if 80% is unstructured, we first must format it before analysis. The way to structure it is HADOOP.
Read more: http://www.ec-bp.com/index.php/articles/industry-updates/10174-all-about-b2b-data-and-big-data#ixzz2p3UrTojf
Control towers are used in many industries for different purposes: airports and railroads use them for traffic control; power plants have control rooms to monitor operations and third party logistics providers use them to track transportation activities. These are places where operations run well. Why not a “SUPPLY CHAIN MANAGEMENT CONTROL TOWER” to monitor and assure supply?
The SCM Control Tower is all about having visibility throughout the supply chain. But if there is total visibility and no ability to make decisions, then it is not a control tower. To be a decision maker, you will need to run “what if” scenarios: forecast and recalculate the entire inventory if “your ship doesn’t come in” (something that literally could happen). To be able to calculate effects of events, it will require a LOT of data. Hence, we need to introduce BIG DATA to our Control Tower.
The Control Tower needs high quality data from both internal and external sources. With a global supply chain, a company is more vulnerable than ever. Suppliers are also vulnerable on the land, sea and air. Issues arise from political events, weather, security and health issues. The possibilities are almost endless. Yes, you can monitor news channels, weather forecasts, police radios; but it could be overwhelming. The answer is to automate the gathering process, then use data analysis to highlight YOUR hot spots. RSS FEEDS are increasingly available, even from local police departments (well, the “police blotter” is now electronic and applications are available to attach grid coordinates to almost anything). Even weather data can get more accurate by folding in the thousands of “backyard” weather stations that have become more popular. These little guys can provide METAR feeds. See how many are in your area at Wunderground. All this increased data (BIG DATA) will overwhelm you without analytic capabilities. Simplified, you have to automatically “sift” through it, pull out what applies (YOUR parameters), and utilize it (maybe “post” to your “trouble map”).