Key applications of AI for an integrated Supply Chain Process

Supply chain management is not an easy process. In the past few years, the supply chain industry has faced many challenges like changing market patterns, data management, and quality controls. However, with digitization, things have drastically changed. Artificial Intelligence (AI) is now a vital aspect in transforming the supply chain sector. A large number of supply chain companies believe that AI is one of the best technologies to invest in, for resilient supply chains.

According to Gartner, supply chain companies are expecting to double up the level of machine automation in the next five years. Also, by 2024, nearly 50% of supply chain businesses will invest in applications and software that support AI and advanced analytics capabilities.

AI-based supply chain management solutions are expected to be one of the most effective instruments to help organizations tackle challenges. These solutions provide an integrated end-to-end approach to address various constraints and grab business opportunities, from procurement to sales. AI-based solutions help supply chain businesses to analyze large volumes of data, provide greater insights into operations, and support better decision making.

Easy Inventory Management

Collecting and storing information in the supply chain sector can be a challenge. Most supply chain businesses struggle with proper inventory management. However, AI-based solutions like RFID tags, sensors, meters, GPS, and actuators allow supply chain businesses to easily tag containers and detect the information in them, which helps in keeping inventory organized. Workforce can easily locate these containers and detect if they are placed on the wrong shelves.

Better Interconnectivity

For the success of the supply chain business, interconnectivity is an important aspect—interconnectivity not just among customers and suppliers but also among products and smart objects used to monitor the supply chain. Extensive connectivity will ease up the internal operations and help businesses make better decisions.

Smart Business Models

AI helps supply chain industries get actionable insights by analyzing past data to seek better opportunities and make smart decisions. Advanced analytics and business intelligence help supply chain businesses evaluate the complex and dynamic set of risks and constraints and evaluate them for future business prospects. AI helps automate this decision-making process by reducing human intervention, increasing responsiveness, and creating smart technology-driven business models.

Product development, procurement, and manufacturing are the three main areas of the supply chain where deploying AI capabilities can help. PureSoftware is a leading digital products and software company that has helped many top supply-chain businesses integrate and implement smart supply chain management solutions to improve efficiency and productivity. With our decade-long expertise and proficient team of skilled engineers, we help supply chain businesses to digitize their manufacturing and back-end operations leveraging the latest technologies including AI.

If you are also looking for experienced AI solution providers for your business, get in touch with our team today.