Experimental Models In Supply Chain Management

Experimental Models In Supply Chain Management

AUTHOR

Shyam Soni

TIME TO READ

minutes 

UPDATED ON

May 12, 2021

Digital supply chain twin and Augmented reality (AR) are the current experimental models that are under development for aiding the supply chain management using artificial intelligence.

Technological and social trends

Technological and social trends are colliding to create a perfect storm for development of AI in supply chains. COVID-19 has made remote work a norm. With it comes a widespread adoption of remote management capability and IoT. 

On the technology front - automation, AI and IoT aid each other and create a flywheel effect helping adoption of each of them simultaneously. 

Sure, companies will struggle for a period of time with sub-par applications - but if they make measured investments and keep experimenting, eventually they will gain a upper hand on the technology, and on their rivals. That is the secret to Amazon's current success after all. 

AI models used in the business environment

Advanced analytics, IoT and Robotic process automation (RPA) are the most mature applications in supply chain AI.

Advanced analytics is the autonomous examination of data or content using advanced techniques and tools to attain more drilled down insights, forecast or generate solutions. Advanced analytics are employed in real-time areas of supply chain management to make real-time pricing, quality assurance and updated replenishment possible.


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Notes:

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Shyam Soni

Our Quick Notes On Five Flows Of Supply Chain Management

Part of our new “Quick Notes” series – this report answers your most pertinent questions of the topic.

  • What are the five flows of SCM?
  • Why are they important TO YOU?
  • How can you map, track, and optimise these flows to serve YOU?
  • What is the importance of difference between "Supply Chain" and "Value Chain"?
  • What are the stellar case studies of each of the five flows?

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