Manufacturers and retailers need data about customer preferences in order to design better products and packaging. In a retail store it is extremely difficult to collect this data, but online it is easy. Advertisers and content providers can collect all sorts of data about what customers like and what they don't, and use this to make changes to their products, their packaging, their supply chain, and the information that they share with customers. Understanding how to get this data, how to translate the data into information and insights, and then using those insights to make changes to your supply chain can provide a competitive advantage.
- Now let's look at five important…information technology capabilities…that are super charging supply chains,…the Internet of Things, customer profiling,…big data, cloud computing and analytics.…When the internet was created,…it was just a way for computers to talk with one another…but these days we've managed to turn all sorts…of things into computers…and we connected them to the internet.…For example, in the old days,…a watch was a mechanical device.…
Today most watches are computers…and many of them can send data over the internet.…In other words, watches are now Internet of Things devices…or IoT for short.…This same trend is occurring throughout the supply chain…where common equipment like conveyors,…pallet and semi-trailers…are being outfitted with devices…that connect them to the internet.…Connecting these things to the internet…gives us more control over what's happening…in our supply chain.…
At the same time, we can capture information…about things, we're also able to learn a lot…about our customers.…We do this by using the internet to collect data…
- Explore the fundamentals of source inputs within a supply chain.
- Examine the role of returning products in a supply chain.
- Determine how to calculate total costs.
- Explore the role of investing in flexibility when managing a supply chain.
- Discover how to increase visibility with a control tower.
- Identify the role innovation plays in supply chain management.
- Examine how artificial intelligence and machine learning help to monitor supply chain trends.
- Break down the fundamentals of selecting the right technology when implementing a supply chain agenda.
- Determine the best ways to collaborate externally when implementing a supply chain agenda.