Vritaanta Volume 3 Issue 1 August 2016

20 12
Pedagogy
Ground Zero
Empowering Supply Chain
80 years of RBI operations...
through Big Data Analytics
The boot on the other foot
An article by Shekhar Prasad MBA II Operations
Taken from professor Manasi Phadke’s blog, which can be found at www.manasiecon.wordpress.com
S T
oday, organizations are flooded with data. three opportunities, which offer high potential in near
There has been a tremendous amount of term. Organizations that implement them can generate
o
data
there
creation
was this
over
lady,
the
who
last
needed
few years,
to be
in
wanted
higher revenues
to create
and
this
profits,
grand
effectively
growth math;
reduce
the
costs
right was
and
fitted
fact it
with
is estimated
new shoes.
that
We’ll
90%
be
of
the
the
left,
data
just
increase
correcting
agility in
the
their
inflationary
operations.
aftermath. The left created
deficits; on the anvil of the right were the tools of
that we currently
said the newly
have
formed
has been
Government
created in
in
the
1947
last
and we’ll give you the right one (pun intended
absolutely, in every which way) in a couple of
CRR
1. Visualizing
and SLR.
Delivery Routes: By using the conventional
vehicle routing software, logistic companies
couple of years. That speaks about the amount of
data that is actually being generated on a daily/ And
years time. But the right one exists already. From 1935
are
in 1978….the
able to show
lady
drivers
looked
when,
a bit north
where
east
and
and
how
saw
to
weekly/monthly basis. In any global organization, the these
itself. Yeah, sure, said the left indignantly, but it
drive
HUGE
in order
Chinese
to maximize
boots left
efficiency
behind by
and
Mao.
reduce
Around
fuel
supply chain is an incredible source of data; data those
needs to belong now to the rightful (I mean…leftful)
costs.
shoes
But
were
with
equitable
the recent
and
advances
negligible
in geo-analytical
small footprints
belonging to the populace of one of the most
about the customers, business and operations. Companies
that collate and capitalize on all that data gain populated country in the world. It doesn’t matter that
Government! Let’s nationalize it…hmm..all shares in
mapping techniques, along with huge amounts of
the capital of the right were transferred to the left
location data and cheaper, faster, cloud computing
a huge competitive advantage. But the problem is, one is hungry; so long as all are hungry. Surely these are
and the right was created so that it would walk the
power, organizations are now to able to scrutinize
most of that data goes unused, it’s either stored in not the equitable footprints I wanted, she thought. And
same way as the left. The left would reverse its
millions of data points and build thousands of potential
vehicle route options.
corporate silos or companies don’t know how to put it then she looked to the South East…and saw those laces
stance; the right was to reserve judgment. The left
to work. According to an Accenture survey, 97 percent were coming undone. The original Russian shoes were in
would
of executives
sometimes
believe
be
big
undependable;
data analytics
the
can benefit
right
tatters.
2. Pinpointing
The left shoe
Future
realized
Demand:
that the time
In
has
this
come
VUCA
to
was
their
bank-able.
supply chain,
The left
however
was left,
only
and
17
the
percent
right..well,
have already
implemented analytics in their supply chain and
change
(Volatile,
the step.
Uncertain,
And, in
Complex
1991, even
&
as
Ambiguous)
the lady groaned
world,
right.
forecasting
moaned taking
demand
only
has
3 steps
been
at
cumbersome
a time, the
and
left
Right, functions. so we Most go on… companies haven’t yet invested in changed
time
sides
consuming.
and became
With help
the right.
of Big
The
Data
original
Analytics,
right
their systems or the people to make it happen. By layering
the right analytic techniques and tools over ex-
together
was
organizations
delighted; now
can
they
now
could
look
walk
at large
together!
quantities
Walking
of
So they walked their lady, her Achilles Heel being the
fast moving
did change
data
things;
from both
they were
suppliers
now
and
averaging
customers.
This
7,
left one. The lefty was the one with lofty ideas. Lets
isting information architecture, organizations can begin
collecting and analyzing their supply chain data. It factors like competitive behaviour, weather fore-
sometimes 8
information
steps at a time…
can be combined with external
adopt a socialistic pattern of society and create equitable,
Russian kinda footprints on the sands of time. 2008..Only housing rubble as far as the eye goes. Every
can help organizations create a radar, which identifies casts, pricing positions, and determine which factors
So the lady swerved left and for the next 30 years step the lady took, there was a resounding gravelly liboth
issues and opportunities in advance. Instead of
walked into huge capital intensive steel mills and a
being reactive, organizations can migrate to being
fiercely protected industrial structure in front of her.
proactive and eventually predictive approach.
She socked trade and tied her laces more securely
against As per those BCG’s dainty recent western study with ideas. supply The right chain lagged operations
across dragged variety into of the industries, dance of they have left. The found left behind, out
August
August
2016
2016