Big Data Analytics (BDA) - Applications of BDA and IoT in GSCM - Business Assignment Help

Assignment Task:

Introduction 

Big data analytics (BDA) can be defined as a process to examine a variety of large sets of data in order to uncover information such as patterns, unknown information and market trends. The purpose of this proposal is to provide an insight into the broad concept of BDA and IoT that influence supply chain management to improve sustainable growth. Apart from this, Big data analytics helps companies to undertake informed decisions. On the other hand, the Internet of Things (IoT) is a network of coordinated devices or things that are installed with the software, network connectivity, sensors and other essential electronics allowing them to gather and exchange information. Besides, the evolution of BDA has been critically evaluated to devise a strategic solution so that potential issues can be minimised. The key issues in implementing BDA within businesses are also enlightened to draw a better conclusion. 

Research background 

In the current business world, companies cannot compete individually but rather it is necessary to be a member of a wider supply chain, which includes a network of relationships and businesses (Panayides, 2017). Due to increasing customer awareness, market competition along rigid governmental regulations, the approach to integrate GSCM, preserve resources and sustain are becoming vital for companies. However, several supply chains stretch over a variety of geographical locations, which also means that such companies handle more demands, customisation and pricing variation. In order to survive in an environment that is so complex by nature, companies take the support of disruptive technologies such as BDA and IoT to be productively agile through mitigating risks. This approach facilitates in remaining flexible for quick response to any changes or challenges. As per the report published by Transparency Market Research, the logistic market and global supply chain are supposed to cross $15 million by the year 2023 (Research, T. 2020). IoT and BDA are playing an important role in supporting companies to become proactive by revealing inefficiencies with respect to supply chains to eliminate any blind spots from the processes. 

Aims and objectives 

Aim: 

The aim is to study the impact of Big data analytics and the Internet of things in Green supply chain management 

Objectives: 

• To understand the evolution of BDA and IoT 
• To evaluate the evolved trend of disruptive technology in GSCM 
• To comprehend the involvement of BDA and IoT in GSCM 
• To analyse the challenges faced by businesses on different levels of disruptive technology application 

Research question 

Question 1: How has the trend of BDA and IoT evolved in the past few years in green business supply chain management? 

Question 2: What are the applications of BDA and IoT in GSCM? 

Question 3: What are the common risks businesses face at different levels of GSCM with the application of disruptive technology? 

Question 4: How BDA and IoT are especially benefitting businesses to continue being sustainable and productive? 

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