To cope with the seemingly never-ending supply chain crisis, business leaders are turning to artificial intelligence to make strategic business decisions. A recent survey by PwC found that 48% of business leaders use AI to drive supply chain decisions, and 54% of business leaders plan to use AI-driven simulations to enhance supply chain operations.
AI allows for simulations of vast amounts of data from suppliers, customers, competitors, and external factors like weather or geopolitical events. In the process, leaders can better predict supply chain dynamics and disruptions, and have the most up-to-date integrated business plans in place to navigate the complexities of a rapidly shifting business environment.
Leaders taking a holistic approach to AI can realize three overarching benefits:
Think efficiently, long-term. Seventy-four percent of tech leaders are using AI for decision-making. AI streamlines the process by enabling organizations to analyze more data than any one person could on their own. For business leaders, it can estimate possible outcomes of price changes, customer satisfaction and product availability.
Start with desired outcomes instead of existing data. Then then search for the data and analytics to support it.
Continue reading: https://www.supplychainbrain.com/blogs/1-think-tank/post/34972-why-ai-is-essential-to-supply-chain-transformation
AI allows for simulations of vast amounts of data from suppliers, customers, competitors, and external factors like weather or geopolitical events. In the process, leaders can better predict supply chain dynamics and disruptions, and have the most up-to-date integrated business plans in place to navigate the complexities of a rapidly shifting business environment.
Leaders taking a holistic approach to AI can realize three overarching benefits:
- Supply chain transformation. Companies that approach AI comprehensively across their supply chains are roughly twice as likely to report substantial value from initiatives to improve productivity, decision-making, the employee experience, product and service innovation, the customer experience and more.
- Enhanced decision-making. By bringing together so many observations and insights from inside and outside the organization, a comprehensive AI approach facilitates scaled data processing and cross-functional correlations that foster repeatable, consistent strategic insights and enable business-relevant decisions that deliver valuable outcomes quickly.
- Systems modernization. Thirty-six percent of companies with a comprehensive approach to AI are planning to use it this year to help create a data fabric —a 360-degree view of all data that touches their organizations and drives end-to-end value from critical functions within the supply chain.
Think efficiently, long-term. Seventy-four percent of tech leaders are using AI for decision-making. AI streamlines the process by enabling organizations to analyze more data than any one person could on their own. For business leaders, it can estimate possible outcomes of price changes, customer satisfaction and product availability.
Start with desired outcomes instead of existing data. Then then search for the data and analytics to support it.
Continue reading: https://www.supplychainbrain.com/blogs/1-think-tank/post/34972-why-ai-is-essential-to-supply-chain-transformation
