Technologies like AI and Blockchain are proving to be game changers in order fulfillment and supply chain management; enabling organizations to integrate and provide visibility into their supply chain networks – suppliers, trading partners, distribution partners, and services partners.
Most manufacturers and retailers rely on disparate systems, processes and tools for their operations. However, these systems have made their supply chains longer, slower, and more complex with restricted end-to-end visibility. As a result, valuable data remains unexplored, making it impossible to predict and proactively respond to disruptions. Eventually, manufacturers and retailers face issues, such as higher costs, lost sales and poor customer service.
At the recently concluded AI Inspiration Series: Re-invent your Supply Chain with AI & Blockchain event held in Bengaluru and Mumbai, industry experts got together to discuss the changing supply chain landscape, key supply chain trends, and the inevitable shift towards AI and Blockchain.
Some challenges CIOs/supply chain leaders shared at the event, that kept them up at night:
- Vendor collaboration and on-boarding are challenges that affect IT
- Basic file transfer is still a cause for concern for the CIOs
- Data being in silos and data lakes are pain points CIOs are grappling with
- AI will be an immediate game changer in supply chain
- Inventory management, wrong part has been delivered hence site is down, so no visibility
The event also showcased how IBM Watson Supply Chain, powered by AI and Blockchain, helps drive new value across the business by:
- Uncovering cognitive insights to enable faster decision making
- Identifying opportunities to reduce costs and increase profit margins
- Predicting and mitigating disruptions to ensure timely order fulfillment
Download the presentation here
To learn more about IBM Watson Supply Chain, click here