Complex Event Processing (CEP) and IoT in Supply Chain
Complex Event Processing (CEP) is a way to analyze a series of events which in isolation may appear unrelated but given the larger picture they may paint a pattern. There are many interesting application of the concept in world of finance like in Stock Trading, Monitoring frauds and even in the field of operations and Supply Chain.
In the world of Supply Chain with the advent of Inter of Things (IoT) many event signals are generated. However co-relating those events and generating useful inference for decision making is a big challenge. For example GPS tracking of trucks may point to the fact that trucks are moving slowly when passing through a particular region. On the other hand demand data may point out that sales have suddenly dropped in the same region. These two may seem unrelated when looked in isolation. However they could point to a common pattern of that particular region being affected by a natural calamity like flood. A Supply Chain manager needs to quickly respond to that event by changing his distribution plan.
Building data products - transforming FSI
9 年Beauty of CEP multiplies when combined with AI and it moves from just identifying to predicting ! Interestingly a Sri Lankan founded company WSO2 owns one of the leading open source solution.
Sr Enterprise Architect at HCL Technologies
9 年Amazing stuff Anand and Chetan..
Driving business success through innovative tech solutions. GCC competence setup expertise.
9 年We are utilizing Tibco CEP/ EAI - to respond in near real time, data points from devices/sensors along railroad tracks trigger complex events for a tier 1 North America railroad. Business decisions are triggered from these events, scheduling, loading, emergency maintenance, routing decisions taken. Multiple parameters are monitored from IoT sensors and intelligent devices along the rail tracks. Interesting stuff .. happening. Next phase - predictive analytics and cognitive recommendations .. exciting times.
Assistant Vice President at Genpact
9 年Large trucking companies, which may have hundreds of trucks plying across the nation for several days, may keep a constant tab on the gas prices, and time the gas filling till it reaches the lowest point (can go other way also), and ask the drivers to fill at lowest price to make a big savings (several trucks, large distances, annual basis .....)
Supply Chain & Logistics Ops | Optimise Network | Ex-GSK | Ex-RIL | Ex-Wipro | CSCP | Harvard
9 年Any tools or platforms available for pharma .