Big data applications in operations/supply chain management: A literature review
Harnessing optimum value from industrial data increased in the last two decades.A detailed review of "big data" application in operations/SC management processes.Proposed (Value adding V5) framework for operation/SC management. PurposeBig data is increasingly becoming a major organizational enterprise force to reckon with in this global era for all sizes of industries. It is a trending new enterprise system or platform which seemingly offers more features for acquiring, storing and analysing voluminous generated data from various sources to obtain value additions. However, current research reveals that there is limited agreement regarding the performance of "big data." Therefore, this paper attempts to thoroughly investigate "big data," its application and analysis in operations or supply chain management, as well as the trends and perspectives in this research area. This paper is organized in the form of a literature review, discussing the main issues of "big data" and its extension into "big data II"/IoT value adding perspectives by proposing a value adding framework. Methodology/research approachThe research approach employed is a comprehensive literature review. About 100 or more peer reviewed journal articles/conference proceedings as well as industrial white papers are reviewed. Harzing Publish or Perish software was employed to investigate and critically analyse the trends and perspectives of "big data" applications between 2010 and 2015. Findings/resultsThe four main attributes or factors identified with "big data" include big data development sources (Variety V1) big data acquisition (Velocity V2) big data storage (Volume V3) and finally big data analysis (Veracity V4) However, the study of "big data" has evolved and expanded a lot based on its application and implementation processes in specific industries in order to create value (Value adding V5) "Big Data cloud computing perspective/Internet of Things (IoT)" Hence, the four Vs of "big data" is now expanded into five Vs. Originality/value of researchThis paper presents original literature review research discussing "big data" issues, trends and perspectives in operations/supply chain management in order to propose "Big data II" (IoT Value adding) framework. This proposed framework is supposed or assumed to be an extension of "big data" in a value adding perspective, thus proposing that "big data" be explored thoroughly in order to enable industrial managers and businesses executives to make pre informed strategic operational and management decisions for increased return on investment (ROI) It could also empower organizations with a value adding stream of information to have a competitive edge over their competitors.
Comput. Ind. Eng.