AI the next big thing in SCM some of its plants which can go unprecedented for weeks .
Student Ar cles
AI fills in the gap by automatically processing the information and giving it meaning . The plethora of data , without the abilities of AI , is chaotic whereas incorporating AI into Big Data analytics , makes the combination a powerful tool to successfully drive a business into the future . It is no wonder then why businesses are quickly moving from a hypothesis-based research approach to a more focused “ data first ” strategy .
The data generated by the supply chains due to the digitization is analyzed by AI for better understanding of the variables in the supply chain and helping them anticipate future scenarios . It helps the companies to foresee the uncertainties and rapidly innovate ways to reach the market . AI is building an interactive ecosystem of supply chains which supports end to end information exchange and uninterrupted flow of products .
Changing face of supply chain “ As the complexity of supply chains only increases , the ability to analyse and derive meaningful and mely insights will become central to organisa ons . Organisa ons that fail to do so will quickly become irrelevant . For supply chain leaders of today , iden fying the required capabili es of tomorrow is of vital importance to equip the supply chain organisa on in readiness for this emerging mega trend .” Simon Rowe , Associate Director , Advisory , KPMG AustraliaCompanies are leveraging AI to reinvent themselves and scale their businesses quickly . AI is helping them manage complexity of the constant digital change .
AI the next big thing in SCM some of its plants which can go unprecedented for weeks .
Integrated supply chain : AI is working towards an integrated supply chain where v a r i o u s f u n c t i o n s l i k e o r d e r management , inventory management , shipping , warehouse management , e- c o m m e r c e , a n d t r a n s p o r t a t i o n management will be in sync , creating a clearer picture to plan their inventory requirements and prevent stock out
Supplier management and customer service : Companies are leveraging AI for enhanced customer service and supplier relations . Using predictive analytics to harness supply chain network data , retailers will develop more sophisticated relationships with customers as well as suppliers . IPsoft ' s AI platform can speak to the customers in more than 20 languages and handles invoicing queries from its suppliers .
Logistics & warehousing : AI has dramatically changed how the domestic goods move . Amazon uses Kiva robots that automate the whole picking and packing process at large warehouses .
New product development : AI made rapid product development possible with use of 3D printing . Being able to learn and predict future buying patterns will radically transform the way products are conceived , designed , created , sourced , and sold through today ' s retailers .
Let us see some areas of supply chain where AI is causing disruption :
Manufacturing and supply chain automation : AI helps demand and order information automatically get converted into work orders and be incorporated into the production process . This streamlines manufacturing of highly customized products . Siemens has implemented AI to automate
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