Big Data brings together data from different applications, infrastructures, third-party sources and emerging technologies such as location analytics to improve decision making in the strategic, tactical and operational processes that make up supply chain management.
This tool reshapes the supply chain by providing useful and actionable data that can help improve the efficiency of individual companies and the ecosystems in which they operate,helping to synchronize supply chain planning and execution by improving real-time visibility into these processes and their impact on customers and the bottom line. Read the complete article here
Big Data is transforming the way leaders manage supply chains across all touch points, from manufacturing and provisioning to logistics and customer service.
What is Big Data applied to supply chain?
The application of Big Data for supply chain sustainability is the application of high-level intelligence derived from an organization’s data analytics of its operational processes, from procurement and processing to inventory management, distribution, etc., providing a basis for automation efforts and continuous improvement of logistics operations. Read the complete article here
In order for retailers to stay ahead of digital competition, they must overcome cost and flexibility disadvantages; it's necessary to have real-time insight into what is happening inside and outside the point of sale.
Retailers must begin to take immediate action on unforeseen events at their physical points of sale, such as lack of inventory, shelf problems, environmental impacts, local events, loss of merchandise and customers, among many others, as they generate a significant loss for their business.
Unlike historical analytics, predictive supply chain analytics allows you to anticipate and prepare for the future, taking out the conjectures planning processes and improving decision making.
Predictive supply chain analytics use advanced technological tools such as machine learning, geomarketing, data mining that enables organizations to identify hidden patterns, understand market trends, identify demand, establish pricing strategies, achieve a high return on investment, optimize and reduce inventory costs.
The use of big data and predictive models has become one of the greatest successes for the sector, thanks to these, it has been possible to take proactive measures based on real-time data and predict future trends.
Using the right models and calculating historical data, it is possible to predict customer behavior, sales growth, changing consumer behaviors and/or market trends; helping retailers to stay ahead of the curve in order to compete effectively and gain considerable market share. It also enables leaders to set precise goals for their business.
In Nicaragua, retail companies estimate that the damages caused to their facilities and inventory, together with the drop in consumption, have already generated losses of $70 million.
In the same vien as the situation reported by companies in the tourism sector days ago, the Chamber of Commerce and Services of Nicaragua (CCSN) has reported that due to the crisis affecting the country, entrepreneurs engaged in commercial activities have recorded losses of approximately $10 million in their facilities, $26 million in damage to their inventories and $35 million in damages to consumption.
Memorandum on Physical Inventories and payment schedule for obligations in May 2016.
From a Memorandum sent by Tezó and Associates:
Physical inventories: Counting properly
One of the main components of financial statements of company´s with industrial or commercial activities are inventories, which are usually made up of goods available for sale or consumption and inventories of production processes.
The company Management, at the end of the accounting period must ensure that the inventory quantities that may exist in their stores, warehouses or any other collection site correspond to the economic reality by carrying out physical counts in order to ensure that the amounts of inventories are kept in good shape and are valued in accordance with the IFRS.
Private coffee producers accounted for 15.2 million sacks on March 31st, the highest number in the last seven years.
The increase in inventories is the result of the grain harvest collected by farmers after the severe drought that hit the country in recent months, raising concerns about the supply of coffee from the world's largest producer.
"...Private producers in Brazil had 15.2 million bags of coffee in inventories as of March 31, up 9.2% from the 13.9 million bags in the same period last year, the government agency Conab said in a report published online this week. "
These are areas where there are are concentrations of several activities related to the transport operators, storage and distribution of goods, for both domestic and international traffic.
Capital.com.pa reports that the Foreign Trade Deputy Minister, José Pacheco, pointed out that right now an inventory is being made of logistics parks inside the oceanic area, as part of the activities of the Working Council on National Logistics, under the Technical Cooperation Project "Support for Panama's Logistical Plan" implemented by the Ministry of Commerce and Industry (Mici) and the Inter-American Development Bank (IDB) (See Charts: Logistics Parks assets and futures in Oceanic Area).
In Costa Rica there is a proliferation of commercial premises under the generic name of "outlets", enabling companies to get rid of, at discount prices, surplus products.
Elfinancierocr.com reports that "last year, the company Tecnología en Calzado S. A., operator of 50 shoe stores in the country, opened its fourth discount store or outlet in downtown Cartago. "... it has the other premises (about 300 square meters) in San Jose and Santa Ana."
The application for authorization for economic concentration by Grupo Calleja with the Superintendency of Competition in El Salvador has been withdrawn after negotiations were broken off.
A press release from the Superintendency of Competition in El Salvador states:
Lawyers representing Grupo Calleja who filed a request for authorization for economic concentration resulting from Calleja’s purchase of Europa S.A.
The Salvadoran Superintendence of Competition has received a request by Calleja SA, owner of Súper Selectos, to buy Almacenes Europa.
The request, which will be reviewed by the Board of the Superintendency of Competition (SC), was presented on January 2nd and is for the purchase of the five of sales outlets belonging to Europa SA, owner of Almacenes Europa and Hiper Europa.