AI is already influencing the supply chain. From predictive analysis to reactive maintenance, artificial intelligence can be used to optimize and improve every aspect of supply chain management. If your business involves supply chains and logistics, here are some things to consider regarding this emerging technology.
Synchronized Planning with AI
Supply chain management is all about ensuring that the supply is synchronized with demand. Artificial intelligence is able to crunch large amounts of data, to ensure that supply is able to rise and fall with demand. This is a very complex area of supply chain management that can be impossible to do without some amount of today’s technological help.
Artificial intelligence is able to account for a multitude of factors that a person may not be able to consider, such as frequent bottlenecks that have been observed in a location, or on-the-fly product pricing for the amount of product that might be needed, given different vendors and locations. By going through these iterations and simulating different scenarios, AI can give you the best method of manufacturing.
AI Manufacturing and Forecasting
Forecasting is one of the areas in which AI really shines. Through solid forecasting, a business can reduce its waste and capitalize on as much of its profit as possible. Artificial intelligence is able to dive into big data for accurate results regarding the manufacturer's future demand.
Often, a manufacturer's demand will be altered based not only on current trends, but also season-to-season. Complex patterns can be identified through big data that would otherwise be difficult (if not outright impossible) for a person to notice.
Artificial intelligence will learn over time, becoming more consistent and capable the more information it has about a company's needs. As new trends emerge and the market shifts, the company will also be able to tighten its forecasting. All of this will lead to less waste and increased fulfillment for a manufacturing company.
Improved Enterprise Asset Management
On an enterprise-level, artificial intelligence can track asset management, providing real-time alerts, updates, and reports. Enterprise asset management can include technology, equipment, and inventory assets, all of which need to be properly managed and tracked. Enterprise asset management will tell a manufacturer when assets must be maintained, repaired, and replaced, making it easier for the business to control its assets.
By maintaining and repairing enterprise assets properly, a company can prolong the amount of time assets last. Additionally, well-maintained assets will be operational more frequently, allowing the company to acquire as much value as possible from its assets. Across the enterprise, proactive maintenance strategies will reduce the potential for downtime, while also improving the company's yield and output.
Automated Production Management Work
When it comes to the supply chain, it should be as automated as possible. AI can be used to control automated production management work, which in turn will improve the company's overall operations. The more automated production is, the more smoothly it will operate. A facility that is well-automated will require far fewer employees for production and management than a facility without automation.
Are you ready to start optimizing and automating your company's supply chain? Integrating AI manufacturing is one of the best ways to optimize operations at your efficiency. Call AFFLINK to find the best technology for your company.
About Michael Wilson
Michael Wilson is AFFLINK'S Vice President of Marketing and Communications. He has been with the organization since 2005 and provides strategic leadership for the entire supply chain team. In his free time, Michael enjoys working with the Wounded Warrior Project, fishing, and improving his cooking skills.