I interviewed Mitt Nowshade Kabir who discussed Machine Learning in the Supply Chain.
.Over the next 10 years we will see transport vehicles being replaced with autonomous trucks, autonomous vehicles. So if you look into the possibility of how a company can get some kind of competitive advantage, you have to look into the key area of supply chain. The supply chain is an important touchpoint. For example, it can involve the customer relationship.and you can reduce costs.
The second part, to have access to the right kind of information. The customers are getting better served. Many companies use insights like Netflix or like Amazon. And more and more companies are using these technologies.
if you look at the supply chain, starting from the bottom where you are having the user interactions, where we are using AI tools and the recommendation systems, that's only the front end. At the backend, like manufacturing, we can talk about the manufacturing where the entire manufacturing process is occurring without any human intervention for days.
So eventually, what we would see that AI is not just used in one or two or three areas. But we do see that AI is helping to improve the operational life of the machine. There is an analysis and the supporting and maintaining tof he data from the Internet of Things.
So there is no limit right now to where AI will be used. And eventually, what we will see in the very near future, the entire supply chain will be totally automatic. And one thing that we, right now, are seeing a huge impact of supply chain also, you know that we call it Bullwhip Effect.
The Bullwhip Effect occurs when there is fluctuation in customer demand at the retail level. It can cause massive distortion upstream. In order to reduce this effect, you have to be able to forecast more accurately, according to customer demands. The forecasting accuracy is crucial in reducing this effect. And by using AI, you can do that. You can be more accurate in determining and predicting the demand. And as a result of doing so, you will reduce this bullwhip effect. And that's done using predictive technology and AI.
About Mitt Nowshade Kabir
Mitt Nowshade Kabir
Founder at Flerika.com and Trouvus.com