Supply chains are increasingly complex and competitive, while customers have become ever more demanding and yet fickle. Disruptive events in 2020, like the COVID-19 pandemic, have amplified the need for supply chain organisations to seek tools that can help them rapidly make better and more informed decisions. Leading-edge supply chain organisations are now using more robust and sophisticated AA/AI techniques to scour the mountains of data they generate to help them better understand what is happening in their business now, and more importantly, what is likely to happen in the future.
Advanced analytics are synergistic with AI (and machine learning) tools in their ability to analyse large amounts of cleansed data to identify patterns, themes, and trends, and to shape and plan actionable recommendations either in a predictive or prescriptive manner. Companies’ perceptions of the value of artificial intelligence and advanced analytics capabilities is improving. This is enhanced by the increasingly ubiquitous nature of these technologies and the ways in which they can be applied across multiple use cases and scenarios. Noteworthy implementations include:
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