Liwaiwai Liwaiwai
  • /
  • Artificial Intelligence
  • Machine Learning
  • Robotics
  • Engineering
    • Architecture
    • Design
    • Software
    • Hybrid Cloud
    • Data
  • Learning
  • About
  • /
  • Artificial Intelligence
  • Machine Learning
  • Robotics
  • Engineering
    • Architecture
    • Design
    • Software
    • Hybrid Cloud
    • Data
  • Learning
  • About
Liwaiwai Liwaiwai
  • /
  • Artificial Intelligence
  • Machine Learning
  • Robotics
  • Engineering
    • Architecture
    • Design
    • Software
    • Hybrid Cloud
    • Data
  • Learning
  • About
  • Artificial Intelligence
  • Data

Using AI to Solve Complex Global Supply Chain Management Challenges

  • December 24, 2018
  • admin

Companies are starting to apply artificial intelligence across global supply chain management to improve efficiency, speed and decision-making in areas such as supply chain planning, warehouse automation, and logistics.

The SCM World 2016 Future of Supply Chain Survey found that the importance of artificial intelligence has grown rapidly, with 47 percent of supply chain leaders believing the technology is disruptive to global supply chain management strategies. Market-research firm IDC predicts that by 2020, 50 percent of mature supply chains will use AI and advanced analytics for planning, and to eliminate sole reliance on short-term demand forecasts.


Partner with liwaiwai.com
for your next big idea.
Let us know here.



From our partners:

CITI.IO :: Business. Institutions. Society. Global Political Economy.
CYBERPOGO.COM :: For the Arts, Sciences, and Technology.
DADAHACKS.COM :: Parenting For The Rest Of Us.
ZEDISTA.COM :: Entertainment. Sports. Culture. Escape.
TAKUMAKU.COM :: For The Hearth And Home.
ASTER.CLOUD :: From The Cloud And Beyond.
LIWAIWAI.COM :: Intelligence, Inside and Outside.
GLOBALCLOUDPLATFORMS.COM :: For The World's Computing Needs.
FIREGULAMAN.COM :: For The Fire In The Belly Of The Coder.
ASTERCASTER.COM :: Supra Astra. Beyond The Stars.
BARTDAY.COM :: Prosperity For Everyone.

AI for Global Supply Chain Management Planning

Supply chain planning and optimization, including demand forecasting, are among the key areas where AI is already beginning to be deployed. Experts say that global supply chains have become so complex, and are affected by so many variables, that AI may be essential to help identify and predict problems and potential solutions.

“Supply chain managers must take into account more data than any person can possibly process,” Nucleus Research analyst Seth Lippincott told EBN. As IDC analyst Simon Ellis (writing on an IBM blog) put it: “Most companies simply do not understand the full depth and breadth of their supply chain risks, and are therefore not prepared to respond efficiently or effectively to the many potential disruptions.” The inherent complexity of global supply chains, along with the dramatically increased volume of data, make it almost impossible to extract all the necessary insights and make informed business decisions. And the volume of data continues to increase, in part due to the trend to connect supply chain management devices to the Internet, according to DHL’s 2016 Logistics Trends Radar report.

Read More  10 Years Of Artificial Intelligence And Machine Learning

Accordingly, companies are already applying AI-based machine learning to automatically analyze vast amounts of supply-chain management data, identify trends, and generate predictive analytics — the ability to predict problems and outcomes. Lippincott says that the benefits in global supply chain management include reductions in forecasting errors. “Software solutions are beginning to apply machine learning capabilities that can automatically detect errors and make course corrections, while processing real-time data streams,” he says. “With companies collecting mountains of data that can be used to train algorithms to learn where things went wrong, we’re at the tip of the iceberg of how much companies will leverage these capabilities.”

For example, some supply chain management solutions use AI to gather and correlate external data from many sources, including social media, newsfeeds, weather forecasts and historical data.

One major food manufacturer used an AI-based demand forecasting solution to tackle a common problem: meeting customer demand while minimizing inventory. The challenge was complex, involving around 10,000 different products, each subject to variation in demand. By applying predictive analytics, the company was able to more accurately anticipate customer behavior by integrating the impact of promotions and other special offers into its statistical models.9

In a 2016 survey of 1,100 supply chain and manufacturing companies by Deloitte and MHI, only 17 percent of companies were using predictive analytics; but that number is expected to jump to 79 percent over the next three to five years.

Anticipating Orders Before they are Placed

Predictive algorithms may also enable “anticipatory logistics” — the ability to shorten delivery times and improve efficiency by predicting demand before a request or order is even placed, as global logistics provider DHL described in Logistics Trends Radar. For example, global supply chain managers could use AI systems to detect risks in trade shipping lanes and, using shock-detecting sensors, potential damages to cargo; they could then take corrective action and minimize operational delays.

Read More  Are There ‘Male’ And ‘Female’ Brains? Computers Can See A Distinction

Supply chain managers who have analyzed their customers’ purchasing behaviors might move goods to distribution centers that are closer to the customer, allowing faster delivery. Within warehouses, machine learning systems may be able to recognize common scenarios and trends, and link these to specific customers and orders; anticipating the content of an order, these systems would then pre-pick-and-pack without first waiting for orders to be placed, according to the DHL report.

Robots and Self-Driving Vehicles

Autonomous vehicles, which rely on AI to sense their surroundings and make decisions, have already made inroads into logistics, although large-scale adoption may be several years away, according to DHL. Self-driving vehicles have been gradually adopted in controlled environments such as warehouses and yards; DHL predicts that warehouses of the future will deploy the next generation of self-driving vehicles, such as autonomous forklifts, carts and pallet movers, which will be able to navigate without the aid of magnetic strips or other guides. The use of goods-delivery drones and other vehicles in public spaces is farther from mainstream adoption, the company notes. Robots are also being used by big online retailers and logistics companies to quickly help pick and stack goods.

The Takeaway

Artificial intelligence is starting to be used in global supply chain management to help companies analyze and act on global supply chains’ vast data. However, while experts consider machine learning and other AI technologies important and disruptive, they note challenges such as the technology skills required, the need to integrate multiple data sources, and regulatory hurdles that may need to be overcome to enable widespread adoption.

Read More  The Datasets That Enable AI Advances

 

This feature is written by Mike Fadden & originally appeared in American Express.

 


Namecheap
Namecheap


For enquiries, product placements, sponsorships, and collaborations, connect with us at [email protected]. We'd love to hear from you!

Our humans need coffee too! Your support is highly appreciated, thank you!

admin

Related Topics
  • Data
  • Logistics
  • Supply Chain
You May Also Like
View Post
  • Artificial Intelligence
  • Technology

NASA’s Mars Rovers Could Inspire A More Ethical Future For AI

  • September 26, 2023
View Post
  • Artificial Intelligence
  • Platforms

Oracle CloudWorld 2023: 6 Key Takeaways From The Big Annual Event

  • September 25, 2023
View Post
  • Artificial Intelligence

3 Ways AI Can Help Communities Adapt To Climate Change In Africa

  • September 25, 2023
Robotic Hand | Lights
View Post
  • Artificial Intelligence
  • Technology

Nvidia H100 Tensor Core GPUs Come To Oracle Cloud

  • September 24, 2023
View Post
  • Artificial Intelligence
  • Engineering
  • Technology

AI-Driven Tool Makes It Easy To Personalize 3D-Printable Models

  • September 22, 2023
View Post
  • Artificial Intelligence
  • Data

Applying Generative AI To Product Design With BigQuery DataFrames

  • September 21, 2023
View Post
  • Artificial Intelligence
  • Platforms

Combining AI With A Trusted Data Approach On IBM Power To Fuel Business Outcomes

  • September 21, 2023
Microsoft and Adobe
View Post
  • Artificial Intelligence
  • Machine Learning
  • Platforms

Microsoft And Adobe Partner To Deliver Cost Savings And Business Benefits

  • September 21, 2023
A Field Guide To A.I.
Navigate the complexities of Artificial Intelligence and unlock new perspectives in this must-have guide.
Now available in print and ebook.

charity-water



Stay Connected!
LATEST
  • 1
    NASA’s Mars Rovers Could Inspire A More Ethical Future For AI
    • September 26, 2023
  • 2
    Oracle CloudWorld 2023: 6 Key Takeaways From The Big Annual Event
    • September 25, 2023
  • 3
    3 Ways AI Can Help Communities Adapt To Climate Change In Africa
    • September 25, 2023
  • Robotic Hand | Lights 4
    Nvidia H100 Tensor Core GPUs Come To Oracle Cloud
    • September 24, 2023
  • 5
    AI-Driven Tool Makes It Easy To Personalize 3D-Printable Models
    • September 22, 2023
  • 6
    Applying Generative AI To Product Design With BigQuery DataFrames
    • September 21, 2023
  • 7
    Combining AI With A Trusted Data Approach On IBM Power To Fuel Business Outcomes
    • September 21, 2023
  • Microsoft and Adobe 8
    Microsoft And Adobe Partner To Deliver Cost Savings And Business Benefits
    • September 21, 2023
  • Coffee | Laptop | Notebook | Work 9
    First HP Work Relationship Index Shows Majority of People Worldwide Have an Unhealthy Relationship with Work
    • September 20, 2023
  • 10
    Huawei Connect 2023: Accelerating Intelligence For Shared Success
    • September 20, 2023

about
About
Hello World!

We are liwaiwai.com. Created by programmers for programmers.

Our site aims to provide materials, guides, programming how-tos, and resources relating to artificial intelligence, machine learning and the likes.

We would like to hear from you.

If you have any questions, enquiries or would like to sponsor content, kindly reach out to us at:

[email protected]

Live long & prosper!
Most Popular
  • Intel Innovation 1
    Intel Innovation 2023
    • September 15, 2023
  • 2
    Microsoft And Oracle Expand Partnership To Deliver Oracle Database Services On Oracle Cloud Infrastructure In Microsoft Azure
    • September 14, 2023
  • 3
    Real-Time Ubuntu Is Now Available In AWS Marketplace
    • September 12, 2023
  • 4
    IBM Brings Watsonx To ESPN Fantasy Football With New Waiver Grades And Trade Grades
    • September 13, 2023
  • 5
    Document AI Workbench Is Now Powered By Generative AI To Structure Document Data Faster
    • September 15, 2023
  • /
  • Artificial Intelligence
  • Explore
  • About
  • Contact Us

Input your search keywords and press Enter.