{"id":4646,"date":"2022-05-25T23:28:21","date_gmt":"2022-05-25T17:58:21","guid":{"rendered":"https:\/\/tdw.co.in\/crux\/?p=4646"},"modified":"2022-05-25T23:28:21","modified_gmt":"2022-05-25T17:58:21","slug":"how-ai-makes-supply-chains-unbelievably-smart","status":"publish","type":"post","link":"https:\/\/tdw.co.in\/crux\/how-ai-makes-supply-chains-unbelievably-smart\/","title":{"rendered":"How AI Makes Supply Chains (unbelievably) Smart"},"content":{"rendered":"\n

By Kathy Leake, Founder & CEO, Crux Intelligence<\/strong><\/p>\n\n\n\n

In my most recent article for Fast Company<\/a>, I talk about how crucial it is to have AI inside the supply chain to bring true intelligence, transparency and peace of mind into business processes. Our fulfillment algorithm at Crux Intelligence is designed to do just that, delivering \u201cnudges\u201d not just about prediction<\/em> (what might happen next) but also, vitally, prescription<\/em> (i.e. what to do about it before the whole system collapses). <\/p>\n\n\n\n

We are living through challenging times, especially in business. Even Amazon posted its first loss since 2015<\/a> due, in part, to supply chain challenges. If you\u2019re in the retail industry you\u2019ll know that there\u2019s nothing worse, or more expensive in terms of penalties, than falling foul of OTIF (orders on time and in full). It\u2019s clear, the old way of doing things just won\u2019t cut it. Which is why we\u2019re laser-focused on delivering a state of the art solution to ensure customers have a true real-time, and super smart, AI partner.  <\/p>\n\n\n\n

Deeper Dive on Data<\/h3>\n\n\n\n

For Fast Company I highlight the post-pandemic shifts in human behavior which are here to stay – such as Click-and-Collect, where consumers order online and pick up their purchases at physical stores. As Deloitte<\/a>\u2019s researchers have noted: \u201cAt the onset of the pandemic in the United States, click and collect increased from 15% of orders to 25%, a 65% share increase.\u201d I also talk about what it really takes to meet this level of demand, from re-orchestrating labor, store layout and the rapid digitization of the retail supply chain, which requires seamless integration between on-and-offline data sets.   <\/p>\n\n\n\n

Digging deeper into the data issue, why are people still managing their businesses using static Excel spreadsheets? It\u2019s not just inefficient<\/em> but insane in 2022. <\/p>\n\n\n\n

As Boris Evelson, VP and Principal Analyst, at Forrester says, we have to move swiftly into a post-dashboard future<\/em>. In a recent report<\/a>, Evelson predicted that \u201cLegacy BI technology is dead. Emerging technologies and techniques will deliver business insights more efficiently and effectively – beyond just dashboards.\u201d The former strategic technology advisor at JPMorgan concurs with what I\u2019ve been seeing in post-pandemic business processes: \u201cThe post-dashboard world of BI is impactful, actionable, augmented, unified, personalized, adaptive and pervasive.\u201d<\/p>\n\n\n\n

Total Transparency <\/h3>\n\n\n\n

AI inside the supply chain can also support ethical practices, by making every node on the network transparent, and trackable. Dr. Veronica H. Villena<\/a>, Associate Professor, W. P. Carey Supply Chain Management<\/a>, Arizona State University, and her co-author, Penn State\u2019s Professor Dennis Gioia, cover this subject in A More Sustainable Supply Chain<\/a> (Harvard Business Review, Apr 2020). <\/p>\n\n\n\n

\u201cIn recent years a rising number of multinational corporations have pledged to work only with suppliers that adhere to social and environmental standards. The aim is to create a cascade of sustainable practices that flow smoothly throughout the supply chain, or as we prefer to call it the supply network. It’s an admirable idea but it’s been hard to realize and practice many of the [companies] that have committed to it have faced scandals brought about by suppliers that despite being aware of sustainability standards have nevertheless gone on to violate them.”<\/p>\n\n\n\n

In my experience, embedded AI is a good solution to enable reporting at every stage of a supply chain, keeping everyone honest. AI can be tasked with monitoring all system and performance data towards mission critical goals. Through symbolic reasoning, it can identify patterns and outliers to ensure there are no anomalies in a highly complex networked system. But it\u2019s not just good at flagging issues. By being computationally smart, AI can suggest new ways to tackle an issue – before it arises. Through its pervasive nature, able to process data insights rapidly, it has a much broader view of the situation overall too.  <\/p>\n\n\n\n

Building a Solution for All <\/h3>\n\n\n\n

At Crux Intelligence we\u2019re committed to building next generation AI for businesses which deliver the kind of transparency recommended by Professor Veronica Villena. By embedding intelligence at every node of the network, we can deliver timely insights through predictive search, facilitating dialogue between the end user and Crux\u2019s search application. Our auto suggest function predicts user queries based on the characters entered, simplifying the process – and also providing a set of cues to the user\u2019s subconscious that the AI is paying attention to their business. <\/p>\n\n\n\n

Yes, this all contributes to the bottom line by saving time, money and increasing productivity. But it also makes for \u201cbetter business\u201d by releasing the executive towards higher level processing tasks, rather than the frustrating and tedious manipulation of data fields in a static worksheet. As such it also makes the job more interesting, leading to greater retention of staff. <\/p>\n\n\n\n

By being engaged in conversation with the AI-based system, there\u2019s a sense of ease which enters the work day and a firm\u2019s knowledge workers are no longer consciously, or unconsciously, living with dread regarding KPIs. For example, in CPG verticals, \u201cService as measured by the Customer\u201d (SAMBC) is the crucial metric. Levels are measured through hitting (or missing) On-Time-In-Full (OTIF), Back-order levels, and Probability of on-time delivery. Algorithms are great at this kind of multi-data point complex calculation. <\/p>\n\n\n\n

Only by having an AI in the mix can one expect to truly stay on top of what\u2019s going on – or about to go down regarding hitting deadlines, needing to \u201cchange lanes\u201d or delivery time slots. Those types of decisions require deep knowledge across many data sets and, without AI, it can take days<\/em> to realize an insight which will impact an SLA [Service Level Agreement]. With intelligence embedded in the system, executives can be presented with options, such as alternative fulfillment options, and reroute goods instantly, to avoid penalties.   <\/p>\n\n\n\n

FOR READ MORE, CHECK OUT <\/strong>AI IN THE SUPPLY CHAIN<\/strong><\/a> BY KATHY LEAKE, FOUNDER\/CEO, CRUX INTELLIGENCE IN FAST COMPANY.<\/strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By Kathy Leake, Founder & CEO, Crux Intelligence In my most recent article for Fast Company, I talk about how crucial it is to have AI inside the supply chain to bring true intelligence, transparency and peace of mind into business processes. Our fulfillment algorithm at Crux Intelligence is designed to do just that, delivering […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":17,"featured_media":4387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[62],"tags":[113],"acf":[],"yoast_head":"\nHow AI Makes Supply Chains (unbelievably) Smart | Crux Intelligence<\/title>\n<meta name=\"description\" content=\"Today\u2019s BI solutions must move beyond observation to predict changes and prescribe solutions, enabling a seamless process through embedded intelligence.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tdw.co.in\/crux\/how-ai-makes-supply-chains-unbelievably-smart\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How AI Makes Supply Chains (unbelievably) Smart | Crux Intelligence\" \/>\n<meta property=\"og:description\" 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