The current state of the supply chain, faced with troubles such as fluctuating prices, layoffs, productivity declines, and lack of goods, has had widespread effects on countless industries and the global economy. To ease its instability, AI has been introduced to better the supply chain through improving logistics.
This article from VentureBeat breaks down ‘How AI can mitigate supply chain issues’ – https://venturebeat.com/ai/how-ai-can-mitigate-supply-chain-issues/
AI is being implemented to aid in numerous supply chain management functions such as optimizing inventory management, supporting transport, warehousing, and storage, automating processes, and making key business decisions. The article states that those already using AI for supply chain management have tracked a 15 percent decrease in logistics costs, 35 percent increase in inventory levels, and 65 percent boost in service levels.
These numbers prove that AI technologies are showing to be greatly beneficial across all phases in supply chain management. AI’s role in supporting the supply chain will over time lead to steady increases in efficiency and productivity, prevention of human error, and overall protection of the future of the supply chain.