AI, Big Data & Advanced Analytics In The Supply Chain
Article written by : Yasaman Kazemi
” Data has become one of the most valuable commodities for modern businesses. However, sometimes with great plenty, comes great responsibility. In addition, more and more businesses are going digital, and the result is that a large amount of data is being produced within their supply chains. “
The sheer quantity of data exceeds the capacity for analyzing that data in many organizations. As a result, many supply chains struggle to collect and make sense of the overwhelming amount of information across their processes, sources, and siloed systems. This leads to lower visibility into the processes and increased exposure to risks and disruption costs. Supply chains that adopt comprehensive advanced analytics, employ cognitive technologies, and enable visibility throughout their organizations will have a competitive advantage over those that do not.
A technological phenomenon like artificial intelligence (AI) is possibly the most transformative and impactful to the companies seeking to employ advanced analytics. Some subsets of AI such as machine learning and deep learning promise to have huge impacts on supply chain decision making.