Reimagining Supply Chains with an AI-First Mindset
Welcome back to the ‘AI-First Supply Chain Effect’ – a newsletter all about reimagining your end-to-end supply chain management.
Last month, when we featured a blog from our Chief Technology Officer, Kevin McInturff , we were asked, ‘What is the fastest, most effective way to get started with AI in supply chains?’ In our experience working with leading supply chains around the world, adopting an AI-first mindset, the shift from implementing bolted-on to built-in AI solutions, is the fastest way for organizations to for organizations to see benefits like cost savings, reduction in weekly planning time, and improved profitability opportunities.
Keep reading to learn from Scott Tillman , SVP of Innovation at Logility, how AI is fundamentally changing supply chain planning. In addition, Piet Buyck , SVP Solution Principle, one of our top native-AI experts shares his insights on collaborative demand forecasting.
An AI-First Mindset
According to Scott Tillman, SVP of Innovation, “Artificial intelligence serves as a foundational basis of how you solve a business challenge”. Instead of incorporating AI as an addition to one set of existing solutions, the AI-first mindset indicates a more deliberate approach:
Traditionally, AI has been layered onto forecasts, providing insights too late in the cycle. With an AI-first approach, organizations can build a comprehensive and dynamic foundation for generating actionable insights and driving informed decision-making. Supply chain teams spend less time building outdated forecasts and more time understanding the health of their product lines and making a positive impact on the company’s profitability.
Soak up more insights from Scott by reading How an AI-First Mindset is Reinventing Supply Chain Operations.
AI-First Demand Planning
In an era marked by rapid market shifts and evolving business landscapes, precision and speed in demand planning have transcended from being mere advantages to absolute imperatives.
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In his Reshaping Supply Chain Management Through AI-First Demand Planning blog, Piet Buyck explains how AI-first demand planning marks a significant departure from traditional planning cycles, which often struggle to adapt to rapid changes in consumer behavior and market trends. With the implementation of AI-first forecasting, organizations can predict shifts in demand more accurately, leading to improved inventory management, optimized resource allocation, and increased customer satisfaction. Supply chain teams also become more effective, reporting substantial reduction of weekly planning time by up to 70% and a 15-30% decrease in forecast error rates.
Read Piet's full blog for a deeper look at AI-first demand planning: Reshaping Supply Chain Management Through AI-First Demand Planning.
Innovation News
Check out other AI-first solutions and news from Logility:
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