Leveraging New Technologies to Shape the Digital Supply Chain
FREMONT, CA – The rapid growth of artificial intelligence (AI), machine learning (ML), big data analytics, internet of things (IoT), and blockchain has prompted organizations to incorporate the new technologies to enhance their operations. In the case of the supply chain, the integration of modern technology requires assessing the different processes involved and matching specific adoptions according to requirements of the process.
The prospect of digitalizing supply chain involves the incorporation of new technologies to specific processes to transform the supply chain management. When digitalizing the processes, it is imperative that organizations evaluate their weakest points and address them with the required enhancements. The challenges faced by supply chains include lack of focused resources, scarcity of labor, including warehouse personnel and truck drivers. To fill this gap, many supply chain organizations are turning toward AI and robotics.
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Integrating autonomous mobile robotics (AMR) with AI technology can enable the devices to navigate and transport objects within the warehouses without human intervention. The AMR technology has provided the organizations with a more cost-effective option instead of spending millions of dollars on wall-to-wall automation.
The scarcity of operational labor in supply chain management has prompted organizations to leverage predictive analytics in forecasting, planning, and scheduling labor resources. Organizations are also utilizing AI and ML technology, and predictive analytics technologies for supply and demand tracking. ML has facilitated the development of an efficient supply chain and forecasting software to streamline the demand management process and assist the organizations in assessing the sales and shipments in comparison to the forecasts.
Several AMR and software providers also embed ML into their offerings. Organizations can leverage big data and analytics platform-as-a-service (PaaS) to realize their objectives. The PaaS is a cloud-based platform with ML libraries which can adapt to various applications. Some PaaS providers also provide business intelligence tools to uncover relevant information and analyze it. The ML also enables the organizations to enhance inventory levels over the distribution network or demand forecasting. AI can assist the organization in making supply chain decisions, including replenishment orders, buy-or-make choices, and transportation options. All things considered, the digitalization of the supply chain can be achieved by the effective interplay of modern technologies such as AI, ML, IoT, and blockchain.