Using AI to Improve Business Performance
As business executives contend with heightened supply chain risks and inflationary pressures, artificial intelligence (AI) has emerged as a hot technology that can help to improve business performance.
As business executives contend with heightened supply chain risks and inflationary pressures, artificial intelligence (AI) has emerged as a hot technology that can help to improve business performance.
As supply chains become more complex, organizations must move beyond resiliency and efficiency toward predictability, scalability, and customer value. In this ASCM San Fernando Valley presentation, Lisa Anderson discusses the risks and opportunities shaping the future of supply chains and shares strategies for building talent, leveraging technology, implementing SIOP, and positioning organizations for long-term success.
Industrial manufacturers are experiencing slumps across the board. The good news is that customers are not canceling orders; however, they are delaying BIG TIME.
Companies are overwhelmed with data. There is ERP related data, global supply chain data, world economic data, industry and market data, customer and supplier data, email communications, and the list goes on.
As geopolitical and economic risks rise, executives become more concerned. Proactive clients are taking action to boldly invest where it makes sense while aggressively focusing on inventory and cost reduction of non-value added items/ work and also ensuring high customer service levels.
Modern ERP No Longer Enough Although we have been emphasizing the need for a modern ERP system to meet continually evolving customer expectations, modern ERP alone is no longer enough. To thrive in the next decade will require business AI (artificial intelligence) to be embedded throughout your ERP system, [...]
Manufacturers wish they left supply chain shortages behind after the pandemic, but they remain top of mind. Concerns remain. According to KPMG, “71% of global companies highlight raw material costs as their number one supply chain threat for 2023.”
Clients typically set goals; however, goals without an understanding of where you stand is non-value added. Although it is common to set goals and expect employees to achieve them, it is far less common for clients to understand how they will get from the current state to the desired future state.
Enterprise resource planning systems, CRMs and other tech such as RFID, barcoding, customer and supplier portals, blockchain, IoT, and GPS tracking all support this goal.
In the last month, we've participated in at least six economic forecast presentations or discussions with experts (economic, banking, investment, manufacturing). Although they each had nuances, common themes emerged. Adding our expertise into the mix, we see volatility on the horizon.