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What is AI?

AI is the science of computers mimicking human intelligence to solve problems. This science encompasses many disciplines to improve speed, precision and elegance in decision-making by finding patterns in enormous volumes of data. It can generate recommendations, predict and surface insights, provide speed and scale, and automate processes, all enhancing productivity.

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Artificial intelligence in supply chain management

AI in supply chain management is the application of this science to the various processes involved in the supply chain.

By leveraging AI, companies can improve operational efficiency, reduce costs, increase top-line revenue, and enhance customer satisfaction. AI can be applied in different areas of the supply chain, such as demand forecasting, supply planning, inventory management, transportation optimization, and order management, impacting everything from plan to execution.

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In demand forecasting, AI can enhance historical data with market trends and other external factors to predict future demand accurately. Increased forecast accuracy helps companies optimize inventory levels and avoid stockouts or overstocking.

Keeping supply lead times up to date in a planning system is harder than ever, and the more complicated the bill of materials, the less likely a planner can do more than spread outdated assumptions across parts. Not every adjustment is worth a planner’s time to update. Still, AI can predict lead times based on historical patterns and update changes automatically, flagging for intervention only those changes outside parameters the planner sets herself.

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AI you can understand. AI you can trust

Explainability and democratization build trustworthiness that fosters adoption when delivered on a foundation of responsible AI. These values are a blueprint for creating AI-powered software that prioritizes people, delivers transparency, and safeguards your data and privacy.