Our latest ‘Ask the Experts’ report looks at how AI can be harnessed to revolutionise the supply chain. In line with the launch of the report, we’ve produced a series of blogs to explore the key themes included in the report. In this, our first blog, we investigate the key challenges currently facing supply chain professionals.
The supply chain is a vital part of business operations, which has an integral impact on everything from quality to customer satisfaction. It also holds the key to enormous competitive advantage.
Increasing complexities, growing pressure
In a world of constant disruption, where speed, agility and innovation are key, the pressures on supply chains across the globe are multi-faceted and growing. In addition, supply chains have become increasingly complex, with multi-leg chains emerging.
It is not just supply chains that have become more complex, organisations have too. Yet, there is constant pressure on the supply chain to collaborate and align more closely with the rest of the business.
Lack of visibility
One of the biggest challenges faced by supply chain professionals is a lack of visibility and transparency. All too often, CSCOs are operating in the dark when it comes to data, finding it nearly impossible to pull decision critical data – both structured and unstructured.
As such, businesses struggle to get a real-time view of what is happening with their supply chain, meaning they can’t anticipate or respond quickly to issues or predict potential demand.
Today’s consumers are sophisticated and empowered and they expect personalised, easy to use, speedy and efficient experiences across all areas of their lives.
For the supply chain this means more pressure than ever to be able to provide customised products, at competitive prices incredibly quickly, all the while delivering exceptional customer service.
Age of disruption
It’s not just customers who are unsettling things – disruption comes from every angle. It comes in the shape of market forces such as climatic, geopolitical or regulatory change, it also comes from competitors – start ups and more established players alike. Businesses and products can be bought to market and disrupt more quickly than ever before.
As such, organisations can no longer afford to have supply chains that are reactive and base important decisions on outdated information – the world is simply moving too fast.
If the above sounds all too familiar, download the full report here to further explore the challenges faced by supply chain leaders and how these can be over come with AI.
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