[Big Data for Better Decisions] #9: Better Decisions with Big data in Manufacturing

[Ravindra Dastikop]

In today’s world, enterprises can harness data for information to help them make better and faster decisions across all industries in variety of functions. Here is a list of functions in manufacturing domain where Big data can be used to arrive at solutions.

• Demand forecasting: In order to produce required number of units of products- and avoid under  or over productions- manufacturing industries use sophisticated mathematical and statistical models. With the availability data of every kind, big data approaches can help industries to make realistic demand forecasting. This make the more profitable as it avoid unnecessary stocks 

• Inventory management of large number of stock keeping units- this is related to keeping raw material study flow for timely manufacturing. Big data approaches helps inventory managers to connect demand forecasting results to inventory needs and maintain optimal inventory levels

• Supply chain management- This will help in connecting manufactures back and forth to its suppliers and help them manage entire supply chain effectively

• Collaborative planning and design - with global manufacturing trends, big data approaches will business to collaborate with their globally distributed  production units and also help me collaborative with partners in real time

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Posted By Blogger to Big Data for Better Decisions at 11/14/2014 10:15:00 AM