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in a single-pane-of-glass view , understanding how they work together to achieve a full supply chain picture . By bringing together data insights from these pieces , which rely on data individually , companies can experience more connectivity between these individual hubs of data .
This requires data engineering and an infrastructure that supports this mission . It ’ s important for leaders to think about the future and not a matter of if , but when , the next major supply chain disruption will occur . So a capital expenditure today will save money and contribute to customer satisfaction in the future . The companies that took this step years ago to invest in data analytics are reaping these benefits today .
Every event or risk in the supply chain has a cascading impact on some other event downstream , but due to organisational silos , lack of visibility , sub-optimal processes and technology silos , modern supply chains lack a good way to understand the impact of these risks on the eventual on-shelf availability . This is a disconnected supply chain .
Catena-X is a great example of auto OEMs in Europe coming together to build a supplier data hub for greater visibility and transparency to the supply ecosystem . With everything being intelligent today - from watches and glasses to swimsuits and toothbrushes , supply chains have converged and connected more than we realise .
Q . HOW CAN PROCUREMENT PROFESSIONALS LEVERAGE TECHNOLOGY SUCH AS AI AND MACHINE LEARNING TO ENHANCE THEIR SUPPLY CHAIN OPERATIONS AND MITIGATE RISKS ?
» Companies today can use AI algorithms to analyse data from various sources , including social media , news outlets and even weather reports to
“ These challenges point to procurement being at the cusp of a transformation from a cost reduction philosophy to service-level maximisation lever ”
20 June 2023