The best thought leaders in Procurement and Supply Chain Management recognize that Big Data presents significant opportunities and can transform an organization from one that simply manages costs to one that generates profit. Data already collected, often insufficiently analyzed, can be used straightaway to increase the value that sourcing professionals bring to the organization and increase the role professionals will play as business practices evolve. Potential applications for cost avoidance, risk mitigation, brand enhancement and competitiveness include: reducing product recalls and government-mandated remedial actions; increasing business continuity by better managing and planning for weather events, warehouse and logistics operations issues; providing a leading look at suppliers; protecting an organization from harmful public disclosures by properly using Intellectual Property rights; and enhancing sustainability.
Topics in this session included:
- Specific applications of Big Data in Procurement and Supply Chain
- Quick wins using existing data
- How Big Data increases your competitive advantage
- How Big Data uncovers hidden weakness in supply chains
- How Big Data supports sustainability and regulatory reporting
Categories: 2014 Fall - Denver, Summit Presentations
SRC Type: Benchmarking and Analysis, Disruptive Digitization, Procurement Operations