Q1. Answer the following sub-questions.
- (a)) 'Data analytics transforms supply chain management from reactive operations to proactive, data-driven decision-making.' Does every supply chain application necessarily require advanced analytics, or can basic techniques suffice? Explain with examples from the course. (400 words)
- (b)) How do you collect and manage data in supply chains? What precautions must a manager take while handling supply chain data? Provide suitable examples. (400 words)
- Not all SCM applications require advanced analytics; basic techniques suffice for stable, predictable operations.
- Basic analytics (descriptive/diagnostic) use KPIs and historical reports for 'what happened' and 'why it happened'.
- Advanced analytics (predictive/prescriptive) are crucial for complex, volatile SCM, using ML and optimization.
- Supply chain data collection uses ERP, WMS, CRM, along with RFID, IoT sensors, and POS data.
Answer: Data analytics has profoundly transformed supply chain management (SCM) from a traditionally reactive domain into a proactive, data-driven discipline. This transformation leverages insights derived from vast amounts of supply chain data to optimize operations, enhance decision-making, and mitigate risks. The application of analytics spans a spectrum from basic descriptive techniques to highly advanced prescriptive models, each suitable for different organizational needs and complexities. Collec...