Making the most of supply chain AI

The COVID-19 pandemic has highlighted the importance of reshaping traditional supply chain models after exposing the vulnerabilities of many businesses and industries worldwide. While healthcare, consumer goods, and manufacturing supply chains have already been experiencing disruptions since the start of 2020, they have been exacerbated further by the outbreak of the virus. Logistics organizations have also been struggling to analyze data, along with bottlenecks delaying production and shipments. 

This is where artificial intelligence (AI), along with machine learning, comes in. AI will allow for more accurate planning, greater output, safer working conditions, increased productivity and quality, and lowered costs. Moreover, machine learning solutions can also be utilized to perform predictive analysis to help predict business issues relating to the supply chain. Let’s dive into some of the benefits of leveraging AI to manage supply chains: 

Data Analysis and Inventory Management 

Analyzing vast amounts of information to locate inefficiencies and areas of improvement is a must, and this process can be much faster with AI. AI systems can examine many datasets at once to provide supply chain results in a fraction of the usual time.

AI’s ability to handle mass data also comes in handy when providing accurate inventory management. It easily analyzes and interprets large datasets, offering timely guidance on predicting supply and demand. In addition, AI systems can also forecast seasonal demands and shifts in customer habits, allowing businesses and industries to better predict trends and preventing overstocking on unwanted inventory.

Transportation Applications 

Transportation issues occur quite frequently, but AI solutions can solve these challenges by automating data collection from various points in the route and then using anticipatory shipping to predict what the customers may want. The idea behind this process is to keep a product nearby, in case a customer places an order. 

AI also helps transportation by scanning traffic patterns to prevent accidents and injuries and optimizing sailing routes to lessen emissions, making transport more reliable and safe. Overall, leveraging AI in transportation will minimize traffic congestion, increase passenger safety, lower financial expenses, and even reduce carbon emissions, which is a plus for the environment. 

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