Supply chains are moving faster and faster and the complexity of data needed to manage them is growing exponentially. To quickly turn tremendous volumes of data into actionable insight, an increasing number of organizations are now turning to innovative digital supply chain planning platforms that are powered by artificial intelligence (AI) and machine learning (ML).
On its own, supply chain planning (SCP) provides the critical set of business processes that companies rely on for optimizing the delivery of goods, services, and information to their customers. Focused on balancing supply with demand, SCP manages real-time demand commitments, “what-if” scenario analysis, inventory optimization, and sales and operations planning (S&OP), among other functions, according to Gartner.
With increased speed in the supply chain, skilled labor is more difficult to find and retain, and customers are harder to please. Add in trade wars, economic uncertainty, and the risk of supply disruption to the equation, and you wind up with a perfect storm of supply chain challenges that—when combined with other hurdles—require the right mix of software and advanced technology to solve.
When companies incorporate artificial intelligence and machine learning into their supply chain planning activities, everyone wins. Layering advanced technologies like AI and ML into supply chain planning creates new capabilities and propels companies that want to stay ahead of the rapidly changing business landscape. Innovative digital supply chain platforms that are powered by AI and ML, combined with SCP can uncover hidden opportunities, identify potential risks and accelerate decision making – from product concept to customer availability, and all points in between.
In this Making the Case guide, we explore the opportunities that these advanced technologies offer and show how you can get the most out of the potential they offer. AI and machine learning are powerful tools that will continue to propel the supply chain, and in partnership with valuable supply chain practitioners.