Synopsis on

The Impact of Big Data Analytics on Company Performance in Supply Chain

Management

1. Introduction
Big data analytics can add value and provide a new perspective by improving
predictive analysis and modeling practices. This research is centered on supply-chain
management and how big data analytics can help Romanian supply-chain companies
assess their experience, strategies, and professional capabilities in successfully
implementing big data analytics, as well as assessing the tools needed to achieve these
goals, including the results of implementation and performance achievement based on
them. The research method used in the quantitative study was a sampling survey,
using a questionnaire as a data collection tool. It included closed questions, measured
with nominal and ordinal scales. A total of 205 managers provided complete and
useful answers for this research. The collected data were analyzed with the Statistical
Package for the Social Sciences (SPSS) package using frequency tables, contingency
tables, and main component analysis. The major contributions of this research highlight
the fact that companies are concerned with identifying new statistical methods, tools,
and approaches, such as cloud computing and security technologies, that need to be
rigorously explored.

Massive data has become the most important resource for future company wealth
against the background of the continuous development of information technology and
Industry 4.0. Growing exponentially, this explosion of big data is focused on several
areas of activity, contributing to the intensification of global innovation in science and
technology. Companies across the globe face numerous market expansions and strict
quality standards, and they are overwhelmed by the massive amount of information
coming from different customers and suppliers, and must manage it as efficiently as
possible. Data management and integration becomes critical in addressing the
challenges of linking supply-chain management systems between producers and
suppliers as well as between their partners. Addressing supply-chain management
challenges at each level and activity, data management and integration ensures the
visibility of both producers and suppliers as well as their partners, thus contributing to
improved relationships of trust and long-term collaboration.
The provenance of structured and unstructured data makes it somewhat more difficult to
analyze and generate information, but with supply-chain management systems, they are
transformed and tailored to end user requirements. The supply chain covers all activities
from the development of production to production and logistics to maximize customer value
and achieve sustainable competitive advantages. Many companies still do not understand
how to apply analytical techniques to achieve superior performance within the supply
chain. Through this study, undertaken within Romanian companies, we consider that we are
making an important contribution to clarifying the aforementioned aspects. First, we
identified the companies’ experience in implementing big data analytics (BDA) in
supply-chain management (SCM) and the difficulties encountered in this process,
followed by the adoption of company strategies for implementing BDA in SCM. The
two issues investigated are also related to the existence of professional capacities
needed to develop information through BDA and to identify the supply-chain analysis
tools used by companies and their future intention to implement new tools and
technologies. Second, the paper article provides an in-depth understanding of the
benefits and performance of companies after implementing BDA in SCM. Also, there
have been some challenges,
such as the acceptance and use of new technologies, as well as their regulation.

2. Literature Review

2.1. Big Data and Big Data Analytics

New challenges in capturing, collecting, analyzing, archiving, sharing, transferring, and

processing large datasets in organizations led to the emergence of the BD concept. The
determinant factor behind this concept is digitalization, with increased social and media
popularity among electronic device users. The big data concept has been applied to
datasets that are very large and difficult to handle by traditional database management
systems. In other words, their size exceeds the current capacity of software tools and
storage systems for capturing, storing, managing, and processing data in an acceptable time.
According to specialists, the BD concept has different approaches, such as the “3Vs”:
volume (the volume of current datasets in big data is a significant attribute, since such data
is considered to be excluded from the traditional management techniques of databases);
velocity (the rate at which data is collected); and variety (unstructured data are generated by
sources such as social media, e-mails, and communication).
Based on the 3V concept, other specialists define big data as follows: (1) “High-
volume, high-speed, and/or large-scale computer equipment that requires cost-effective and
innovative forms of information processing to enable improved understanding, decision-
making and process automation”; (2) “big data as volume, high speed and data of great
variety used in decision-making and requiring innovative management techniques”; and
(3) “special type of large-scale data that cannot be stored, manipulated, and analyzed by
means of a conventional system together with an anonymous source, various dimensions
and its relationship cannot be easily measured due to its complexity and dynamic
nature”.
The big data concept is expanded to “5Vs” by adding two more features (veracity,
or reliability of collected data, and the value of datasets involving substantial
investments). BDA is defined as a holistic approach for managing, processing, and
analyzing data sizes (volume, variety, velocity, veracity, and value) that are needed to
create action-oriented information for sustained delivery, performance measurement, and
competitive advantage. The 5Vs can be explained as follows: (1) volume refers to the
magnitude of data that requires increased storage devices; (2) variety is reflected
by generating data from heterogeneous sources Internet of Things (IoT), online social
networks, and structured, semi-structured, and unstructured formats); (3) velocity is given
by the time to access, process, and use data in real time; (4) veracity reflects the importance
of data quality and confidence in the data used ; and (5) value is reflected by revealing
unused data in big data and can support decision-making .
BDA involves the use of advanced analytical techniques for extracting important
information from large volumes of data to facilitate decision-making. Developed from the
field of operational research, advanced analysis has had various classifications, among
which descriptive, predictive, and prescriptive analysis are considered representative.
Descriptive analysis is based on the analysis of data describing past business situations,
trends, patterns, and exceptions. The techniques used for descriptive analysis can be
characterized as standard reports and scoreboards, ad hoc reporting, query drilldown
(OLAP) alerts, and viewing.
Predictive analysis is based on real-time data analysis and historical data to predict the
likelihood of future events. This technology learns from existing data using machine
learning techniques and computational algorithms, including 1. advanced time series
and advanced predictions used in SCM for marketing measures such as stockpiles or
sales forecasts (ARIMA, ARMA); (2) supervised learning including linear and logistic
regressions, statistical algorithms (K-NN, Naive Bayes, Bayes Network, CART,
random vector trees, Neural networks); (3) clustering; and (4) size reduction.
Prescriptive analysis is based on data-based predictions to inform and suggest proposed
action sets that can be advantages or avoid certain results and may include: (1) studies
 addressing the variability of expected outcomes by analyzing the scenario game theory;
and (2) optimization and simulation under conditions of special relevance in the context of
uncertainty based on computational stochastic programming of random variables (Monte
Carlo).

Big Data Analytics in Supply-Chain Management

The SCM concept has been debated by specialists around the world. It has been
defined as “management alongside and within a network of upstream and downstream
organizations, both of which have relationships and flows of material, information and
resources”. The supply chain can be considered to be a combination of four
independent and interconnected entities (marketing, sourcing, inventory management,
and transport). SCM is responsible for creating and maintaining links between the
different entities in a business responsible for purchasing raw materials for final
delivery of the product. New technologies such as big data analytics synchronize SCM
in a separate stream and allow organizations to capture, process, analyze, store, and
exchange data about their operations.
An extended supply chain is a multilayered system that connects organizations
through collaboration and integration, as competition between supply chains is
perceived as higher than between individual firms. Among the computer systems used
for this purpose are Electronic Data Interchange (EDI), Vendor Managed Inventory
(VMI), Efficient Consumer Response (ECR), Collaborative Planning Forecasting and
Replenishment (CPFR), Collaborative Planning System (CPS), Sales Force Automation
(SFA), Point of Sale (POS) data, and Customer Relationship Management (CRM).
Among all SCM information flows, big data analytics focuses on data analysis and
tools are included in the “analytics” domain. Analytics applies mathematics and
statistics to large amounts of data. Big data without analytics is just a lot of data, and
analytics without big data is simply math, statistical tools, and applications.
Thus, a first attempt to define BDA is based on the 3V framework: (1) weekly
generated data volume greater than 300 TB classifies companies in the BDA category; (2)
the velocity of data creation and transmission plays a key role in transferring data from
batch processing to real-time operation; and (3) the variety of data provided to users
can include, in addition to classical SQL or XML formats, digital information such as
video, text, or images [7]. Starting from this attempt to define BDA within the supply
chain, some specialists have presented other approaches: (1) the process of
extracting and presenting supply-chain information to ensure measurement, monitoring,
forecasting, and supply-chain management; (2) a broad and unique view of the entire
supply chain to disclose component or full production, including analyses and key
performance indicators (KPIs); (3) using quantitative methods to obtain prospective
information from data in order to understand in depth what is going upstream and
downstream, in order to assess the operational decision-making impact of the supply chain
(4) the operational leap from data response management models that can help
specialists analyze larger datasets using proven analytical and mathematical techniques ;
and (5) the combination resulting from the application of quantitative and qualitative
methods to SCM theory to solve SCM problems and predict results, taking into account the
quality and availability of data. Studies on the impact of Big Data (BD) on sustainable
investment in a supply chain (SC) have indicated the following aspects: (1) stimulation
of the co-creation of value by reducing risks, with BD helping to shorten SC stages by
extending economic marginalization and facilitating sustainable planning of smart
investments in health care; (2) a positive impact between the number of observations
of market information and increased profit by using the updating information Bayesian
approach of and (3) perfection of SC through investments made by both parties
(suppliers and traders) in the profit generating BD and regulated by revenue distribution
contracts between them. An essential factor in motivating members within a SC to
make sustainable investments in innovative technologies is related to equity concerns.
They can promote and coordinate members of the SC, without the problem of
advantageous inequity in view of the considerable investment in new sustainable
innovative technologies A study was also conducted to explore the application of BDA
in mitigating the social risk of a SC and how it can contribute to achieving ecological,
economic, and social sustainability. The results indicated that companies can predict
various social problems (labor safety, fuel consumption monitoring, health of the
workforce, security, physical condition of vehicles, ethical behavior, theft, speed and
traffic violations through big data analysis) that can be
managed through the information provided, thus contributing to the mitigation of social
risks.
The influence of block-chain technology on the exchange of information between
participants in a SC is highlighted with the help of Mean-Conditional Value at Risk
(CVaR) to characterize the risk-aversion behavior of the traders. The CVaR-based
revenue distribution contract is used to coordinate the SC and profit distribution.
Research carried out by specialists indicated that profits from the SC system are higher
in a centralized than a decentralized decision-making process. Through block-chain
technology, transaction costs between SC members can be reduced, information exchange
can be achieved, and benefits can be improved.
Using game theory, another study dedicated to investigating the risk-aversion
behavior of producers and traders within a closed-loop SC examined making optimal
decisions about wholesale, retail, and recycling prices in centralized and decentralized
decision scenarios. By analyzing some parameters that influence the revenue
distribution contract, a new contract model was proposed to increase the SC members’
profits by identifying the optimal income distribution ratio.
Other equally interesting studies were devoted to the research and development of
a new model based on the Decision-Making Trial and Evaluation Laboratory (DEMATEL)
method called the KTT-GSCM (Knowledge-Technology Transfer–Green Supply-Chain
Management) multicriteria model which demonstrated the mutual influences between
GSCM, KTT, and technological innovation. Based on a relational vision of inter-
organizational competitive advantage, another study focused on empirical research of
drivers and their results in integrating a low-carbon supply chain (logistics service providers
(LSPs) with supply-chain integration (SCI)). The results of the study highlighted the fact
that between the corporate environmental responsibility of the LSP and the environmental
requirements of the clients, there are positive relationships with SCI with the low-carbon
emissions of the LSP, and the latter is positively related to the financial and environmental
performance of the LSP.
To ensure environmentally sustainable logistics, companies must have an
environmentally sustainable logistics performance management (ESLPM) process.
Transposing the integration of processes within the SC to increase performance was
achieved by developing a framework aimed at integrating the ESPLM process and third-
party logistics (3PL). This framework can provide guidance for practitioners in identifying
the degree of integration of logistics performance management processes and decision-
making at the senior level.
Large companies (with more than 250 employees) are already using supply-chain
analytics tools such as KPMG Spectrum Third-Party Intelligence, Deloitte Supply-Chain
Solutions, Halo Supply-Chain Analytics and Business Intelligence Software, Tableau,
and Neubrain Supply-Chain and Logistics Analytics Software. Numerous software
solutions are also in use, such as Relax, FusionOps, Blue Ridge Supply-Chain
Analytics and Inventory Analytics Software, IMI Supply-Chain Analytics, and Qlik
Supply-Chain Analytics. These companies manage large volumes of data of thousands
of Small and medium-sized enterprises (SMEs).

2.2. Importance and Application of BDA in SCM

The technological advances recorded by supply-chain entities, the volume of data

generated, and the speed of distribution have led to significant increases in structured and
unstructured data analysis to get a clearer picture of customer needs and improve cost-
related aspects of supply-chain processes. Big data analytics can make significant
contributions to areas such as product development, market demand prediction, supply
decisions, distribution optimization, and customer feedback. Companies with a disciplined
strategy of using big data analytics have had better results with investments. In other words,
a clear and systematic strategy of big data analytics can provide a better return on investment
(ROI) in certain areas of the supply chain, such as marketing, purchasing, shipping, and
storage.
Other specialists have demonstrated the importance and contribution of BDA to
SCM by:
(1) improving manufacturing performance by linking IoT and BD to manufacturing
systems to minimize bottlenecks by developing forecasting techniques
(2) observing current trends in supply-chain management by using Twitter and
developing a new conceptual framework in this regard
(3) investigating the potential use of TD for the management of product life cycles
(4) measuring the sustainability of supply chains using BD prediction analysis
(5) establishing a relationship between sustainable supply-chain management and
logistics operations in the food industry and developing a methodology for analyzing social
data for supply-chain analysis and logistics operations in the food industry.
From the above approaches we can see that: (1) the information from SCM
analysis should be presented and extracted in a way that will help end users; (2)
enhanced data integration and SCM analysis have helped to increase visibility across the
supply chain; (3) data retrieval methods and their permanent updates have helped to
improve the speed of data processing, with real-time capability for various decision
situations; (4) data analysis has been forward-looking and the impact assessment of
prospective decisions has led to the emergence of a new advanced supply-chain
management using proactive models; and (5) there is a need to include knowledge in the
use and analysis of data. In other words, BDA is the natural evolution of big data in
SCM.

2.3. Benefits and Constraints of BDA for SCM

Due to the upsurge of unstructured data in complex processes across entities, big
data analytics has become the biggest challenge for the supply chain. The competitive
position on the market is maintained under the conditions of proper management of the
entities in the supply chain. Entities are interconnected through material flows,
financial flows, and significant electronic information exchanged simultaneously
among all supply-chain partners. Connections between different parts or elements of
the supply chain may be direct or indirect, and significant interactions between them
determine the complexity of the system.
 To understand this impact, we need to take into account the following key features: (1)
the number of entities in the supply chain; (2) the diversity of entities; (3) the existing
interdependence between items, products, and supply-chain partners; (4) the dynamics of
the system, represented by variety; and (5) the existence of uncertainties. The great interest
of specialists is shown by the empirical studies undertaken, which highlight several
advantages of BDA within EMS, such as reducing operational costs, increasing
customer satisfaction, and increasing SC agility.
In previous studies of specialists, numerous benefits related to SCM information
technology (IT) optimization have been identified, such as
(1) the exchange of information between SC stakeholders
(2) the transformation of intra- and inter-organizational business processes
(cancellation, redesign, automation) operational efficiency and revenue growth, profitability,
and improvement of stakeholder relations
(3) improving relational and contractual governance by effectively mitigating the
opportunism of partners. In addition, BDA could also generate future opportunities for
stakeholders such as obtaining a competitive advantage and reducing exposure to fraud or
other malfunctions.
According to specialist studies, several constraints have been identified in the
adoption/implementation of BDA in SCM: technological barriers, expertise, and investment
barriers, data barriers, organizational barriers, etc. In the category of technological
barriers, the following issues were identified as the basis for BDA implementation in
SCM: (1) a lack of understanding of the implementation of new technologies or a lack
of tools needed to implement BDA in SCM
(2) a lack of infrastructure facilities
(3) low acceptance, routine, and BDA assimilation by SCM organizations and partners
(4) data security.
With regard to expertise and investment barriers, specialist studies have shown
interesting aspects of BDA in SCM: (1) a lack of qualified IT staff and high investment cost
and (2) a lack of funds and facilities for research and development of BDA instruments.
Data barriers have highlighted interesting aspects of the implementation of BDA in SCM,
such as: (1) complexity of data integration and data quality and (2) data security,
confidentiality, performance, and scalability. Organizational barriers have been identified
as negative limits in implementing BDA in SCM: (1) the absence of a data-sharing
policy between organizations and a lack of thinking in terms of large data; and (2) a lack
of training facilities and time constraints.

2.4. Big Data Analytics and Supply-Chain Management in Romania

 Studies in Romania related to the implementation of BD and BDA are scarce. The
most significant studies were in the fields of health and information and communication
technology. BD can help physicians choose treatments more correctly and faster, based
on information collected by health care professionals. Thus, patients can benefit from
appropriate treatment in due time, and will be better informed about health care
providers. In the field of information and communication technology, the themes of
large data management and management and analysis (big data) have been analyzed in
terms of their relevance for the solutions they offer to increase competitiveness in
intelligent specialization at a national level.
On the other hand, the role of Research, Development and Innovation (RDI) in
information and communication technology (ICT) in supporting the development of
the economy and society, focusing on the business environment, identifies among the four
priorities e-commerce, research and development (R&D) and innovation in ICT.
In line with these priorities, in the Digital Agenda for Romania Program, the
electronic services section includes the project “ICT Research and Development and
Innovation: Developing innovative products and services serving the 10 sectors (tourism
and ecotourism, wood and furniture, creative industries, automotive and components,
information and communication technology, food and beverage processing, health and
pharmaceuticals, energy and environmental management, bio-economy,
biopharmaceutics, and biotechnology) identified in smart specialization” (TIC-SI), with the
objective of investigating and implementing this role.
In Romania, the SC concept is widely used, having being given more
meanings, such as:
(1) the variation and nonexistence of a uniform designation between SC and SCM
(2) the use of synonyms for SC (supply network, logistics network, supply-chain
management, supply-chain provision) Supply-chain management involves challenges such
as building trust, sharing information on market needs, developing new products and
services, and meeting customer requirements as efficiently as possible.
The starting point of research regarding the stage of implementation, expansion, and
development of SCM in Romanian companies is the logistics sector. Despite with a
background of poor transport infrastructure and public policy and an economic crisis , this
sector managed to make some progress, justified by the presence of large companies and
international groups in Romania. This can also be noticed by tracking foreign
investments in the economy following the large central areas (Bucharest, Cluj-Napoca,
Arad, Constanta, and Ploiesti) compared to the performance level of logistics platforms
of large companies in developed countries such as the US or European countries.
 Romanian logistics activities are carried out internally with specialized companies, as well
as externally (the tendency is increasing, with outsourcing to specialized suppliers)
During 2008, the stage of development of SCM was low, with only extension and
integration of companies with suppliers and distributors. The implementation of SCM
within Romanian companies is influenced by two major factors:
(1) physical capital (technology not updated) and poor human capital (reduction of wage
costs); and
(2) limited vision of the inter-organizational structure. The directions for improvement
have been investment in new technology and human capital, assimilation of new values
by managers and continuous adaptation, and improvement of employees’ skills and their
adaptation to new technologies.
The implementation of SCM within Romanian companies requires organizational
changes based on the “Eight I’s that Create We’s” approach, which considers the
following characteristics: individual excellence, importance, interdependence,
investment, information, integration, institutionalization, and integrity. Unlike later
research in Romania, our paper aims to explore aspects related to the state of
implementation of BDA for SCM, the adoption of BDA strategies in SCM, the
identification of BDA’s capabilities and tools in SCM, and the measurement of future
intentions of Romanian companies regarding the implementation of other BDA tools for
SCM.

3. Research Methodology

Given the importance of using Industry 4.0’s new tools and technologies, which make a
substantial contribution to improving business performance, we conducted a study of
companies in Romania. Industry 4.0 represents the fourth industrial revolution with a major
impact on the production of the future, which integrates innovative elements and
technologies such as big data analytics, Internet of things and others, and which ensures
constant communication and connection in addressing customer services. Through this
study, we wanted to find out the future intention of companies to implement new tools and
technologies that impact their performance. The quantitative market research had the
following objectives:
Objectives
 Identify the companies’ experience in implementing analytics in supply chain and
the
 difficulties encountered in this process.
 Identify strategy adoption by companies for implementing large data analytics
(including the supply chain) and determine its main development priorities.
  Identify the existence of professional capabilities needed to develop insights through
BDA.
 Identify the supply-chain analytics tools used by companies and the future intended
implementation of new tools and technologies to gain valuable supply-chain insights.
 Highlight the results obtained by companies following the use of BDA in the supply
chain. Measure the influence of experience, strategies, professional capabilities,
annual sales revenues, and industry on the future intention of companies to
implement new tools and technologies to gain valuable supply-chain insights.
Taking into account the objectives of the study, we formulated the following research
hypotheses:
To achieve the above-mentioned objectives, but also to test the model proposal, it was
necessary to collect data from different companies. The study was conducted between
January and March 2019. The relevant population for our study (www.insse.ro) was
identified in the metadata database of the National Institute of Statistics in Romania.
Starting from the information provided, the sampling base was defined and built. The
process ended with a cross-listing of 550 companies. In view of some errors (such as
inactive, noncontact, or already dissolved), the sampling base (list) was reduced to 460
enterprises. After companies were identified, contact with their managers was established to
receive the survey agreement and know which managers were to get the online
questionnaire, included in an e-mail link to be completed later.
The research method used in the quantitative study was a survey by sampling,
using the questionnaire as the data collection tool. It included closed questions,
measured with nominal and ordinal scales. The study was carried out with the support
of six interviewers with experience in the field. Managers who agreed to participate in
the survey received an electronic link via e-mail for the online questionnaire. The
process ended with the conclusion of participation agreements with 226 companies
included in the list. The response rate was 90.7%, i.e., 205 managers provided complete
and useful answers for this research (Appendix A, Table A1). The collected data were
analyzed with the SPSS package, using the frequency and contingency tables, the hi-
square test, the Student’s t-test, factorial correspondence analysis, and the binary
logistic regression model.
In this respect, the binary logistic regression model was used, which indicates the
relation between a nominal variable Y (value 1 = success; 0 = failure) and k factorial
variables. Factorial variables are quantitative or categorical, while Y is a binary variable
that has a Bernoulli type distribution, with the parameter p = P (Y = 1). The general
equation underlying the linear logistic regression model is
 exp(β0 + β1x1 + β2x2 + β3x3 + · · ·
P(y = 1/x , x , x , . . . x ) =
+ βkxk (1)
 1 2 3 k
1 + exp(β0 + β1x1 + β2x2 + β3x3 + · · · + βkxk

where P is the probability of getting a certain behavior or intent (yes answer); x1, x2, x3, . . . ,
xk are independent variables included in the model; and β 0, β1, β2, . . . , βk are the model
coefficients obtained according to the dependence of the values of the variables.

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