Supply chains face many challenges, including constant communication with suppliers and efficient logistics.
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The supply chain is the basis of today’s economy. This network includes all the activities required for a consumer to buy a product/service.
Different economic actors are involved in supply chains. Some of them have more complexity than others. They face similar challenges, including constant communication with suppliers and efficient logistics.
Each company in supply chains plays an essential role. The availability, quality, and quantity of products and services reaching the customer is greatly affected by the functioning of each gear. For this reason, it is important to emphasize that the new tools driven by Artificial Intelligence (AI) have the potential to connect each member of the chain, which drives not only the development of each company as an isolated entity, but of the economy as a whole ” says Gustavo Pares, director of the Mexican company specialized in Artificial Intelligence solutions, NDS Cognitive Labs.
Chatbots that are based upon Artificial Intelligence have enabled supply chains to reach new heights of efficiency. Materials, products, and transport monitoring can all be monitored using analytics and predictive models.
The Supply chain 4.0 concept is currently. It refers to the current issues and the leadership role that new technology has in these challenges. They have enabled the creation of tremendous competitive advantages like process automation or assertive decisions that lead to growth. it is possible to associate with other companies.
The Inter-American Development Bank, (IDB) claims that companies who have used Artificial Intelligence to enhance supply chain management have seen “benefits up to 30% in inventory decrease and improvements in order fulfillment up to a 7 percent” as well as a profit rise of up 15%.
A similar projection was made by the agency, which also projects that profits will reach $ 7 billion globally in 2025 due to increased adoption of supply chain technologies.
Technology is the core of the operation and maintenance of supply chains
Gustavo Pares says that without the advancements in technology, especially AI tools, the management of supply chain operations would be difficult. “They are key to streamlining complex processes and the analysis and monitoring of large amounts of data. They also allow for constant communication between all companies, so there is no limitation on the time and information flow.
Chatbots are one of the best AI tools to manage supply chains. They are capable, thanks to their unique characteristics, to organize these processes and prevent failures or delay in any area.
What are they doing?
Interorganizational communications not only facilitate information exchange between companies but also drive business processes in the supply chain, making the organisations more competitive.
According to NDS Cognitive Labs , chatbots are the ideal tool to drive the development of the supply chains of the future, as they:
- They manage inventory. This tool can be used to control product quantities in stores or warehouses. They ensure that final buyers have the products they require at their fingertips. This is possible because they are able to manage huge amounts of data, and inform when the product is almost finished so that the company can stock the products in the appropriate time.
- These bots help improve logistics and transport efficiency. The time it takes to ship products and the conditions in which they arrive directly affect the customer’s experience. Chatbots that are linked to satellite tracking systems can monitor and inform customers about transfers. They also have the ability to identify and suggest the best route to travel so that shipment times are as quick as possible.
- Improve decision-making. These chatbots can also be used to analyze large data sets and create predictive models that will help with customer service and product development.
- Always paying attention. Supply chains involve companies that do business in other time zones. Chatbots are available 24/7 to help facilitate business flows and interactions between them, with no delays.
- They learn better by themselves Chatbots can become more efficient with the help of technologies like machine-learning. In other words, they learn by themselves and respond to every interaction.
Publiated at Thu, 12 August 2021 09:25.44 +0000