Business Analytics within a Simulated Supply Chain System

Description

Business Analytics approaches are used by organisations to generate value from the data available to them. A number of business analytics approaches have been identified and discussed in the literature that directly affect an organisation, still, organisations are not operating in isolation. They form links and connections with other organisations who at the same time aim to create value from the internal and external data available to them and maintain their competitive position in the current market. This material aims to clarify the possible opportunities offered by business analytics in the context of a supply chain system when data generated in one part of the chain within an organisation are being taken into consideration in the decision making process in another part of the chain by another organisation.
A supply chain simulation model has been constructed using a discrete event simulation approach. A number of different simulation scenarios have been investigated, tested and analysed. Large sets of data are being generated at different points in the chain where the opportunity to work with this type of data in a supply chain environment is being explored. Within a simulated scenario, data can be made available in real-time, where the benefits of using this in a practical setting are being examined.
The benefits of this work are twofold. This study will capture the opportunities offered by business analytics within a complex setting such as that of a supply chain system. At the same time, this work brings forward a supply chain simulated model that operates with large sets of data and has the capacity to explore a number of different scenarios. Characteristics of modelling complex supply chain systems using a discrete event simulation approach are also emphasised in this work.

Period	3 Sep 2019
Held at	OR61: Annual Conference
Event type	Conference
Location	Canterbury, United Kingdom
Degree of Recognition	International