Business Intelligence (Bi) In Supply Chain Management

Companies in the manufacturing and service sectors have realizing that to achieve economies of scale they need to formulate management policies based on modern business strategies. Best way of optimizing their product or service for market at the same time. The use of information technology in almost every type of industrial process has contributed to the development of the strategies and tactics. The strategies that support product development or facilities development have to move at a much faster speed than ever before. Modern business strategies lay stress on using the latest communication tools such as video conferencing and e-mail for improving communication within the organization as well as with clients. Modern characteristics of management techniques are: Systematic, Analytical, Quantitative, Applications of management techniques, Traditional methods of management are primarily based on behavioural sciences, The conventional methods of management, Modern management techniques, Statistical techniques, Mathematical techniques, Simulation study/model System analysis, Linear programming, Inventory control, Precedence and arrow diagramming, Network analysis PERT CPM, Financial techniques, Precedence Evaluation Review Technique (PERT) and Critical Path Method (CPM), Network representation i.e. Activity on Arrow (AOA) system and Activity on Node (AON) system. Management by Objectives (MBO), Identifying the Key Result Areas (KRAs), Total Quality Management (TQM), Error proofing (pokayoke) is the managerial process. All these are under purview of Business Intelligence. Here a briefed note has been prepared citing real-life data.