What is the next big thing for supply chain management? While many people seem to think Big Data will solve many problems, Forbes thinks it will be Big Data used to make timely decisions and not just increase accuracy of forecasts. The big challenge here is communicating that data in a way that humans can understand. Also, there is the small problem of coordinating data between suppliers, retailers, wholesalers, etc.
I agree with Forbes that these are the big challenges facing supply chain managers in 2013. I am not so sure I agree with their hypothesis that because these are the important issues and budgets are constrained we will see solutions to these problems. They are the problems that will be addressed day to day and budget constraints seem to suggest that making the necessary changes/improvements will add to the difficulties. Maybe this time next year I’ll be issuing my retraction but I think not.
Credit to Julie Silverman, a Penn State/Smeal College of Business student, for bringing this article to my attention.