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Artificial Intelligence Takes Supply Chain to the Next Level
FREMONT, CA – Artificial Intelligence (AI) has transformed the business world, contributing trillions to the global economy. The adoption of AI has boosted numerous industries over the years, and the supply chain is one of them. Effective deployment of AI offers precision and agility to supply chain management, no matter the sector. The industries that had implemented AI and machine learning (ML) early on reported a booming rise in efficiency and drop in costs, not to mention the reduction in safety risks.
AI in the supply chain can be used to empower drones to manage inventory and guide automated supply carts inside the warehouse. AI can handle vast amounts of data with ease, saving time as well as effort. It can ensure better connectivity from end to end of the supply chain. AI combined with ML can also be used to analyze and track information, resolve errors, and forecast end results. The implementation of AI has delivered proven results of optimization across the industries. Organizations that hesitate to implement the modern AI and ML driven technologies will inevitably lag, surrendering their competitive edge to the tech-savvy industries.
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The natural language processing (NLP) is another significant breakthrough in AI and ML. It enables a computer to comprehend human speech and interact with humans. This technology offers promise in reducing administrative overhead in the supply chain sector. It can also eliminate language barriers and strengthen supplier relations, facilitating seamless communication in a variety of situations.
Supply chain sector can leverage AI for planning and scheduling container transportation routes during unstable weather conditions. AI and ML will enable accurate forecasting and quick rerouting whenever required, reducing the loss of time and assets.
The biggest challenge during the implementation of AI is the training and skill development of the workforce. The employees will require a good knowledge of AI tools and operations to realize the full potential of AI integration. Often, organizations forego the task of training, and hire external talent or buy AI capabilities from large tech firms.
The integration of AI, ML, and automation has helped supply chain organization reap significant benefits. Automation has also enabled the generation of new data that can be leveraged to enhance the existing technology. The data generated through ML will help in closing the gaps in AI technology to push supply chain management to the next level.