The benefits of organizing the purchase of goods and services into categories in order to improve efficiency and effectiveness, whether it’s related to component parts or finished products, can be game-changing. Artificial intelligence presents a powerful set of tools to get on top of it the most common problems.
As measuring performance shifts from profit alone to “profit, planet and people,” companies are assembling teams, assessing resources and determining what help will be needed to achieve sustainability and compliance goals. Read on for an analysis of what’s needed, and what’s available, to meet these goals.
With the coronavirus pandemic and its lingering effects, companies have now experienced how challenging it can be to plan and maneuver their supply chains around uniquely disruptive, once-in-a-lifetime events. But the unfortunate truth is that less severe events overwhelm or undermine supply planning all the time. Legacy tools are no longer up to the task of getting supply where it is needed most.
Ever since access to ubiquitous real-time data emerged as a technological reality, businesses have been lured by the possibility of redirecting their supply chains toward a model driven by demand. Applying analytics software to make sense of big data could allow organizations to close the gap between demand and supply.
