In recent years, supply chains have experienced unprecedented supply and demand volatility accelerated by widespread resource shortages, geopolitics, and natural events. These disruptions put pressure on businesses to plan for potential supply chain uncertainty, respond quickly to changes in customer demand, and keep costs low.
In addition, customers are demanding more selection, improved sustainability, and on-demand delivery of goods and services. Businesses should have the capacity to accommodate unexpected spikes in demand and predict customer demand. To meet the pace of innovation, be more prepared for future disruptions, and fulfill customer needs, an overhaul of how data is used throughout the supply chain is needed. Supply chain management is no longer a back-office function; it has transformed into a strategic differentiator. As digital transformation leaps ahead, data availability and new innovative solutions, such as advanced analytics, machine learning (ML), and data science algorithms, can help bring much-needed transformation to your supply chain. By 2026, Gartner predicts that more than 50% of supply chain organizations will use ML to augment their decision making capabilities.
