AI and machine learning have had a major impact on how we run our businesses. They have also influenced the way we make decisions in supply chain planning.
According to a Gartner survey, “in two to five years a quarter of companies plan to be doing some autonomous planning. Over the same period, 97% of companies plan to have some form of automation in their supply chain decision making.”
The concept of supply chain digital twin has become very popular in recent years. It is essentially a digital model of your supply chain intended to be the foundation for companies to plan and operate their supply chain digitally and autonomously.
Many if not most supply chain leaders are in search of better visibility. S&OP solutions have become popular to enable such visibility however, they fail to provide the best options. This leads to the need for what-if scenario planning so that the users find their best course of action.
Inventory is just an accumulation of costs, until it gets sold and moved out to a customer. So, the basic issue is how to make inventory move or as they say “turn.” Lack of inventory at the right time means loss of revenue and potentially loss of market share.