Impact of data-driven online financial consumption on supply chain services
Industrial Management & Data Systems
ISSN: 0263-5577
Article publication date: 22 June 2020
Issue publication date: 29 March 2021
Abstract
Purpose
Employing big data analysis tools, this study examines the significance of supply chain integration affecting online financial consumption, analyzes the online financial consumption demand of mobile phone consumers, promotes the optimization of supply chain services with consumers as the focus and proposes full integration of a mobile phone supply chain in terms of product, logistics and marketing, in order to improve the supply and demand relationship between consumers and suppliers; the overall objective is to promote further development of online financial consumption.
Design/methodology/approach
In this study, TF-IDF (term frequency–inverse document frequency) and cosine similarity text analysis are used for analyzing online demand for mobile phone products, studying the influence of supply chain services on consumption demand and identifying strategies for promoting overall optimization of the supply chain to meet online financial consumption demands of consumers; the study analyzes online reviews on mobile phone topics from the JingDong (JD) platform and Weibo platform.
Findings
Research results show that online demand for mobile phone products is greatly influenced by supply chain links such as product design, logistics transportation and marketing promotion. The consumption demand for different mobile phone products has different emphases, but the differences are not significant. The overall improvement of the supply chain should focus on product research and development, logistics layout optimization and marketing promotion, in order to meet and guide the online financial demand of consumers and improve the effectiveness of supply chain management.
Research limitations/implications
This study only considered data from China's largest online mobile phone sales platform and Weibo text data owing to the data sensitivity involved.
Originality/value
There are few supply chain optimization studies based on online financial consumption reviews from customers. Therefore, this study integrates online consumption trends into a supply chain analysis framework to explore strategies for promoting supply chain optimization according to customer demands, improving the benign interaction of participants in the supply chain and promoting the development of online financial consumption.
Keywords
Acknowledgements
This work was supported by the National Natural Science Foundation of China (grant number 71874120); the major Projects of Philosophy and Social Sciences of The Ministry of Education of China (grant number17JZD014); the major program for Social Sciences of the Tianjin Education Commission (grant number 2017JWZD02); the Philosophy and Social Sciences Planning Foundation of Tianjin (grant number TJGL16-016); the Postgraduate Research and Innovation Project of Tianjin (grant numbers 2019YJSB186, 2019YJSB185), and the Public Resource Centre of Tianjin University. The authors are grateful for their support. The authors are indebted to the anonymous reviewers and editor.Erratum. It has come to the attention of the publisher that the article, Li, L., Dai, Y. and Sun, Y. (2020), "Impact of data-driven online financial consumption on supply chain services" published in Industrial Management & Data Systems previously omitted the author acknowledgements. These errors were introduced in the production process and have now been corrected in the online version. The publisher sincerely apologises for these errors and for any inconvenience caused.
Citation
Li, L., Dai, Y. and Sun, Y. (2021), "Impact of data-driven online financial consumption on supply chain services", Industrial Management & Data Systems, Vol. 121 No. 4, pp. 856-878. https://doi.org/10.1108/IMDS-01-2020-0025
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited