Claims:We claim:
1) The system and method for supply chain analysis in retail by using big data technology is comprising of the contents such as;
a. Any high definition smart computing device
b. Any open-source framework like Hadoop for data analysis which stored data on big data;
c. The web application of supply chain analysis in retail; and
2) The system claimed in claim 1 wherein, provide retailers the information related to delivery management of supply chain analysis.
3) The system claimed in claim 1 wherein, provide retailers the information related to order picking of supply chain analysis.
4) The system claimed in claim 1 wherein, provide retailers the information related to vendor management of supply chain analysis.
5) The system claimed in claim 1 wherein, provide retailers the information related to product sourcing of supply chain analysis.
6) The system claimed in claim 1 wherein, fast and better decision making related to supply chain analysis.
, Description:FIELD OF INVENTION
The present invention discloses the system and method for supply chain analysis in retail by using big data technology. The invention is related to retail sector, in particular supply chain management. Big data is one of the best technologies which can be effectively used for supply chain management.
BACKGROUND OF INVENTION
Supply chain analysis is a tool for identifying growth opportunities related to a given industry within a region. The industry purchases inputs (raw materials, parts, knowledge) from certain industries, creates an output, and then sells that output on to another industry.
Running any business with a supply chain requires analysing each component to make sure the company is running as efficiently as possible. Whether your business is in home improvement, hi-tech, retail or any other industry that involves costs, you need to reduce waste and maximize productivity.
Currently, supply chain analysis has some system for handling all the data. But supply chain has huge data for analysis and decision making.
The present invention gives the solution for huge data analysis.
The present invention discloses the system and method for supply chain analysis in retail by using big data technology. Big data is helping retailers to manage more responsive supply chains as they can better comprehend customers and market trends, and thus, are able to predict and proactively strategize supply chain related activities.
Big data analysis represents the ability to make data-driven decisions, based on a summary of relevant, trusted data, often using visualization in the form of graphs, charts and other means. Supply chains typically generate massive amounts of data.
As in retail sector, retailer should know, which items should be more in demand in customer. So as per this information retailer can call that items and keep eye on supply chain analysis to avoid any dead stock.
In retail, it all starts with an effective supply chain. When guided by a clear understanding of the strategic priorities, market context, and competitive needs of a company, big data offers significant new opportunities to enhance customer responsiveness, reduce inventory, lower costs, and improve agility.
OBJECTS OF THE INVENTION
The main object of the invention is that, system and method for supply chain analysis in retail by using big data technology.
Another object of the invention is that, retailers can track delivery management of items.
Another object of the invention is that, retailers can track order delivery.
Another object of the invention is that, retailers can track vendor management.
Other object of the invention is that, retailers can track product sourcing.
SUMMARY OF THE INVENTION
The present invention discloses the system and method for supply chain analysis in retail by using big data technology. The web application for supply chain analysis in retail is created. User/retail team member open the invention application. Big data technology analyses information related to supply chain related to retail sector. So, user/retail team member get this information from the big data, and can make decision related to supply chain analysis and product distribution.
BRIEF DESCRIPTION OF DRAWINGS
Fig 1 shows flowchart of the system and method for this invention.
DETAILED DESCRIPTION OF THE INVENTION
The present invention discloses the system and method for supply chain analysis in retail by using big data technology.
Big data is the vast volume of structured or unstructured data that is readily available at collective fingertips. These large data sets are analysed to reveal previously unknown patterns and provide insights into businesses, human behaviour, and more. Big data analysis is used for everything from financial services, to gauging someone’s productivity, to even monitoring the weather.
The key feature of big data is to analyse, understand and interpret it in order to give user a full a picture as possible about the supply chain analysis in retail.
The system and method for supply chain analysis in retail by using big data technology is comprising of the contents such as;
Any high definition smart computing device
The web application of supply chain analysis in retail
Any open-source framework like Hadoop for data analysis which stored data on big data
Big data consists of five stages such as-
Data sources- web and social media, machines, Sensing, IoT
Content format – structured, semi-structured, unstructured data
Data stores – document oriented, column oriented, graph database, key value
Data Staging – cleaning, transform and normalization
Data processing – Batch and real time
The system and method for supply chain analysis in retail by using big data technology is comprising of the following steps such as;
Step 1) The web application for supply chain analysis in retail is created
Step 2) User/retail team member open the web application
Step 3) Big data technology analyses information related to supply chain in retail sector
Step 4) User/retail team member can see the information provided by big data technology
Step 5) User/retail team member analyses the data and can make decision related to supply chain analysis and product distribution
The role of big data technology in invention application is as follows –
Big data technology analyses information related to supply chain related to retail sector. So, user/retail team member get this information from the big data, and can make decision related to supply chain analysis and product distribution.
Use of big data is looking promising in the retail field and it can become a standard in the future.
The invention application has some advantages for the invented system, such as;
Delivery Management – Delivery management is a fundamental part of the supply chain and big data analytics are enhancing real-time delivery management by analysing weather, traffic and truck location feed to determine the exact time of delivery. Technology, such as RFID, is being used to provide environmental information for high-value goods in transit, RFID can even track the exact location of items in case they are separated from the delivery and even let the retailer know if packages have been opened.
Order Picking - Order picking is a labour and time intensive process. Big data analytics along with RFID technology is providing a faster and better order picking process for big and small retailers alike. By incorporating information like orders, product inventory, warehouse layout, and historical picking times, big data analytics is optimizing and simplifying the warehouse according to the needs of the retailer.
Vendor Management
Complex networks of vendors can foster a confusing and inefficient supply chain. Big data analytics allow for real-time vendor management through well-defined key performance indicators (KPIs), be they packaging vendors, transportation, logistics or drop ship vendors. KPIs assess delivery record, profitability, customer feedback and whatever elements the retailer feels relevant to optimizing, adapting or cancelling vendor relationships.
Product Sourcing
Accurate demand and inventory information combined properly puts an end to frequent revenue losses due to out-of-stock situations. Back-ordered items also become a thing of the past with the implementation of big data analytics for product sourcing. Big data enabled product sourcing analyses purchase history, marketing, lead times, and other factors such as promotions and weather, to create accurate demand forecasts. Tying this into supply chain data, retailers can ensure they always have the products their customers demand.