Claims:We claim:
1) The system and method for supply chain risk management by using big data technology is comprising of the contents such as;
a. Backend server – supply chain risk management application is installed;
b. Any open-source framework like Hadoop for data analysis which stored data on big data; and
c. An application for supply chain risk management.
2) The system claimed in claim 1 wherein, track the delays in supply chain.
3) The system claimed in claim 1 wherein, track disruptions in supply chain.
4) The system claimed in claim1 wherein, manufacturer can make fact-based decision related to strategic risk management.
, Description:FIELD OF INVENTION
The present invention discloses the system and method for supply chain risk management by using big data technology. The invention is related to manufacturing sector, which are now well developed due to upcoming technologies. Big data is one of the best technologies which can be effectively used for manufacturing.
BACKGROUND OF INVENTION
Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
In a manufacturing process consideration needs to be given to the potential risks associated with ongoing day to day activities. Depending on individual perspective the focus of a risk management program can be to minimize injury to staff, to customer, or the local community.
Before a manufacturing organization can take steps to address its vulnerabilities and exposure, it has to understand the nature and severity of the risks facing the company. To assess risk, those threats have to be placed into context, which includes factors like vulnerability and potential consequences.
The present invention gives the solution to risk management in supply chain.
The present invention discloses the system and method for supply chain risk management by using big data technology.
The analysis of big data in any manufacturing company can help in monitoring the supply levels, thus guaranteeing production continuity. You can achieve this by using sensor technology for continuous and reliable analysis which protect your business from the risk of halting operations due to low supplies.
Big Data Technology can be defined as a Software-Utility that is designed to Analyse, Process and Extract the information from an extremely complex and large data sets which the Traditional Data Processing Software could never deal with.
OBJECTS OF THE INVENTION
The main object of the invention is that, the system and method for supply chain risk management by using big data technology.
Another object of the invention is that, supplier share their production data with partner.
Another object of the invention is that, supplier share their production data with customer.
Other object of the invention is that, allow the manufacturer to make fact-based decisions when it comes to strategic risk management.
SUMMARY OF THE INVENTION
The present invention discloses the system and method for supply chain risk management by using big data technology. Supply chain risk management application is installed at backend server. Production team member start the application. With the help of big data technology and invention application, the production team member gets various information related to risks which affect supply chain such as delays and disruptions. And it also gives the possible solution to production team member to face the possible risk.
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 risk management by using big data technology.
Big data is the vast volume of structured or unstructured data that is readily available at our 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 daily production.
The system and method for supply chain risk management by using big data technology is comprising of the contents such as;
Backend server –Supply chain risk management application is installed
Any open-source framework like Hadoop for data analysis which stored data on big data.
An application for Supply chain risk management
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 of supply chain risk management by using big data technology is comprising of the following steps such as;
Step 1) An application for supply chain risk management is installed on backend server
Step 2) Data for the invention application is provided by big data
Step 3) User/production team member start the application
Step 4) User/production team member get data of supplier production and quality information on daily basis
Step 5) User/production team member can make fact-based decisions related to strategic risk management
For an organization to operate efficiently, they need to monitor their everyday activities and monitor how useful are their production capabilities and how their day-to-day business is performing financially.
Here, the role of big data technology is as of;
Big data provides manufacturers the ability to check the exact location of their products. This ability to track is one of the primary features that have been available for the manufacturers. Traceability is essential as often several products that have been released by manufacturers are lost and are difficult to trace. The coordinates of a parcel can be set up by using barcode scanners and radio frequency transmission devices. These devices transmit the location of the product, pinpointing where it is at a given point in time.
Determining what the customers need is one of the pain points when organizations want to forecast the current market trends. Big data helps here as it predicts the demands of the customers and also assists in providing the timings of when they want the product delivered. This forecasting can be done when they want the product delivered. This forecasting can be done when companies refer to their supply chain and can help an organization in improving the profitability and workforce.
Big data have some advantages for the invented system, such as;
It offers invaluable insight for supply chain mangers, mainly to improve network planning, optimize delivery, enhance risk management and implement demand-based management. Big data can significantly improve supply chain operations.
Cost-saving – Supplier dependencies are quantifiable and allow the manufacturer to make fact-based decisions when it comes to strategic risk management, it saves money.