Using AI to Not Only Optimize Your Supply Chain, But Also Transform Your Entire Value Chain
Chris McNamara, Smart Industry Editor in Chief, hosts Jeff Winter, Industry 4.0 Thought Leader as part of the Insight Webinar Series. Today’s topic is about using artificial intelligence to not only optimize your supply chain, but transform your entire value chain
Questions Jeff answers in this episode:
You say that Your digital transformation should extend beyond the bounds of your enterprise. What do you mean by that?
How does a manufacturer broaden the scope of its digital transformation?
Big picture—how is AI being used to sharpen supply-chain strategies? How is this approach evolving?
What’s the level of adoption for companies looking to expand their digital transformation outside of their internal processes? What is inhibiting adoption?
What is "intelligent planning"? How is that notion changing as digitalization strategies mature?
What’s the opposite of intelligent planning?
Differentiate demand forecasting from demand planning. What is the interplay between these approaches?
What kinds of data are most useful regarding supply-chain forecasting?
Why is accuracy with this data critical to developing predictable production strategies?
Let’s forecast a bit…what does value-chain management look like in one year? Five years?
Sources Referenced:
Baker McKenzie - 2021/2022 Digital Transformation & Cloud Survey: A Wave of Change: https://www.bakermckenzie.com/-/media/files/insight/publications/2021/12/2021-digital-transformation--cloud-survey--a-wave-of-change.pdf
Harvard Business Review - What Kind of Chief Innovation Officer Does Your Company Need? 2019: What Kind of Chief Innovation Officer Does Your Company Need? (hbr.org)
Gartner - Supply Chain Digital Transformation, 2020: https://www.gartner.com.au/en/supply-chain/insights/supply-chain-digital-transformation
Harvard Business Review Analytics Survey, April 2021 (accessed through Consulting.us): https://www.consulting.us/news/6634/digital-maturity-of-supply-chains-still-in-its-infancy
IoT Analytics - Digital Supply Chain Market Report 2022-2027: https://iot-analytics.com/product/digital-supply-chain-market-report-2022-2027/
The Economist & The Association for Supply Chain Management - The Resilient Supply Chain Benchmark - Ready for anything? Turbulence and the resilience imperative, 2021: https://www.ascm.org/globalassets/ascm_website_assets/docs/theresilientsupplychainbenchmarkexecutivesummary2021.pdf
Verusen - 2022 Annual State of Supply Management Report: https://verusen.com/featured/verusen-2022-state-of-supply-management-report/
Institute of Business Forecasting & Planning - Why do Businesses Need Forecasts?, 2017: https://ibf.org/knowledge/posts/why-forecasting-8