Artificial Intelligence in the Supply chain

I am Aswith Krishna Asok pursuing MBA in Amrita School of Business,Coimbatore.Recently I came across an article about Artificial Intelligence in the Supply chain and here are some of the insights that I gathered. 

                     Today warehouse logistics and transport operations generate huge volumes of data and to gain full insight from these data analytic tools need to be applied to it. The integration of artificial intelligence and supply chain management application has helped to automate the decision-making process, improve efficiencies, and increase better human resource utilization. AI and machine learning provide huge benefits to the supply chain and logistics operations which include cost saving through reduced redundancies, improved forecasting, faster deliveries with the help of optimized routes, and improved customer service.

                    AI systems are leveraging different forms of cognitive computing to optimize the combined efforts of artificial intelligence and human intelligence. AI in supply chain management has helped to improve supply chain automation through the use of the virtual assistant which is used internally and between supply chain members. The combination of artificial intelligence and Io T in the supply chain increases the efficiency and AI-supported supply chains are becoming 41% more effective during on-time delivery with fewer errors.

                 AI being as one of the technologies that supply chain leaders need to adopt. AI capabilities help to automate different supply chain processes which include demand forecasting, production planning, or predictive maintenance. AI is enhancing risk mitigation by analyzing large data set by continuously identifying patterns and by using potential solutions predicting the disruptive events. AI technology is everywhere from anticipating orders to managing deliveries it helps to increase efficiency drastically in all areas of the supply chain.

               Companies are acquiring good results from their AI investments and particularly within the supply chain, For example, is Rolls Royce which uses AI algorithms on its ship to sense what is around them in water and categories items based on the danger they pose to the ship, UPS uses AI-powered GPS tool to develop most efficient routes for the fleets and Lineage Logistics uses AI for forecasting when the food orders will arrive and leave the warehouse.

                 If AI is implemented and used correctly it can enable exceptional agility and precision in supply chains in any industry . also it can ignite a transformational increase the efficiency and reduce costs where automation of repetitive tasks can be done.