Artificial intelligence (AI) is no longer the province of science fiction: it’s here, and it can be leveraged by your supply chain to transform the way your company sources materials and delivers finished products.
For many companies, AI and cognitive computing are becoming necessities in their supply chain operations, as these capabilities can help them overcome significant barriers to success.
First, we collect a plethora of data in our supply chains, but often, we miss important opportunities for cost savings and efficiency because we aren’t using that data effectively.
Additionally, artificial intelligence and cognitive capabilities in the supply chain become even more important as Baby Boomers—with their wealth of supply chain knowledge
retire. The new Millennial workforce is packed with tech-savvy workers, but they often do not have the supply chain experience of their senior counterparts, nor do they tend to stay in one position for decades, as previous generations did.
Globalization also presents new challenges to the supply chain. As companies continue to grow, they generate and collect even more data, implement more policies and processes, and add many new employees, suppliers, customers, and locations. Consequently, they struggle with analyzing all of this data, bringing new supply chain employees up to speed on policies and best practices, deciding what actions to take when issues arise, and getting relevant insights into the right hands at the right time.
While AI and cognitive capabilities can help companies overcome these challenges and many others, they can also help companies improve—even transform—their supply chains. Let's explore how.