Trying to understand and implement artificial intelligence (AI) for your supply chain network during your digital transformation efforts, or let alone finding the right partner in your journey, is like walking in an enchanted forest full of myths, ogres, and lost souls trying to find a way out. Finding the right path in there to an eternal bliss starts with knowing what is not right. Implementing AI is not a small feat and you may get bombarded with vague definitions and stories about how AI makes the world a better place. Let’s look at a few common myths you may come face to face with in your quest to transform your supply chain network by using AI while going digital in your organization.
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Archive for Business Intelligence
Fleet telematics has a robust return on investment. Multitenant platforms can be an elegant way to collect Big Data. Big Data, used right, has great power. Put them all together and what do you get? An interesting logistics technology. The Geotab Telematics Platform Telematics solutions provide truck fleets with the ability to remotely monitor the location, status, health, and activity of vehicles. Geotab is the telematics company that gathers Big Data for analysis in their […]
Read More →Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. It is used to measure performance using a specific indicator or indicators resulting in a metric of performance that is then compared to others to assess how well or how poorly a company is performing. This is sometimes referred to as “best practice benchmarking” or “process benchmarking”. Management uses this process to evaluate various aspects […]
Read More →One area of interest in today’s end-to-end supply chain is machine learning. And this is certainly a topic that we have written about quite often. Over the last few months, Steve Banker, Clint Reiser, and I have written about artificial intelligence and machine learning in a number of contexts and how it impacts the supply chain. These topics have included transportation management, warehouse management, and supply chain planning, among others. This technology continues to be […]
Read More →Organizations must properly execute their e-commerce shipping strategy to survive in today’s market. Business Intelligence is critical to proper execution, providing opportunities to significantly shift, reduce, and manage global transportation costs without sacrificing service.
Read More →The term “big data” has been one of the hottest buzzwords over the last couple of years, and that’s not a big surprise. Statistical science and data analytics can help organizations (of any size and type) obtain historical measurements and generate actionable information that increases supply chain visibility, drives operational efficiency and supports overall growth. But knowing the importance of having access to data is only the first step. Organizations need to have the right […]
Read More →Mike Guilfoyle of ARC has been doing some interesting writing on predictive analytics. One of the terms he uses is the “citizen data scientist.” I like the concept, and will explain Mike’s thinking in this article. But let me provide a little context first. It would be easy for a supply chain executive, or any business manager, to ask what is the difference between “predictive analytics” and “forecasting.” Forecasting is based on traditional mathematical and […]
Read More →Plated is using machine learning and artificial intelligence to improve diverse operations across their value chain. These operations include product development, customer engagement, sales, and forecasting.
Read More →Machine learning engines can take data on forecast accuracy and use that data to automatically improve the forecast model. However, three is a rub. Lost sales is a key piece of data on the accuracy of the forecast, but lost sales is generated with a demand forecast. This is circular reasoning. But that does not mean this analysis is without value.
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Supply Chain Brief
How to Put Data Science to Work for Your Supply Chain
Driving operational growth and increasing supply chain efficiency in today’s ever-changing business world is a top priority for many companies. In order to grow in a rapidly evolving marketplace, organizations must possess the ability to use advanced algorithms and data analytics to generate the next wave of supply chain value. With the abundant data available and the advanced technologies now accessible to help harness it, organizations must establish effective strategies to curate data, produce and […]
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