Big Data Solving Problems For Beer, Wine and Liquor Distributors

Is it true that big data can solve problems for both liquor distributors and manufacturers?

In order for us to really dive into this question, we must first analyze what the biggest problem these distributors and manufactures are facing is. After doing some simple research, the conclusion is that the biggest problem for these companies has to do with their supply chain and inventory management.

What do we mean when we talk about problems with a companies supply chain and inventory management? Typically, the biggest issue here is that the company is physically running out of product on their shelves. Either the distributor can’t get it to them, or it is in such high demand that it’s backordered.

Data scientist, Jessica Speer, believes one solution to this problem revolves around finding the right trends. If you discover what is trending in different marketplaces, and what products are being paired, you quickly become more aware of what to stock and when.

One example of this can be seen with cider. Cider is becoming increasingly popular across the globe, and is known for its sweet taste. However, sometimes the sweetness can be a bit too much and many restaurants and breweries have began to cut the cider with a light beer. Diving into the analytics to see if this is popular enough that the products are being purchased together regularly can help both distributors and manufacturers in their supply chain decisions. These decisions can range anywhere from presenting and carrying both products to offering a price break for large volume purchases.

“That is something we specialize in- marrying those seemingly desperate data sources and bringing those together to identify those trends.” -Jessica Speer

These trends that need to be analyzed go way beyond pairings of products. A data scientist can be given information about the weather, concerts, political events, and functions in the economy and use all of these points to properly predict that people are going to need more beer- and just how much. Big data is all about giving us this information to accurately make better decisions. (The beauty of predictive analytics!)

Now, big data does not just stop at helping supply chain management. Looking at the other side of the business, big data can help pieces of the process such as trucking, staff, pay, theft, breakage, etc. The list truly goes on, and data analytics are becoming stronger each day.

Listen to the full big data podcast here to learn more!