According to a 2023 survey ,

of procurement leaders believe AI will significantly impact their function within the next two years . ( Langley , The Role of AI in Predictive Procurement Analytics )

Why is real-time data crucial for supply decision-making in the chemical industry and what tools does ChemAnalyst provide to facilitate its analysis ? Another factor that makes real time data relevant to the supply decisions in the chemical industry is that the sector is very fluid and ideas are changing frequently . Market forces , for instance , changes in costs of raw materials , shift in government policies and political instabilities can greatly affect the supply chain within the shortest time possible .

These changes can be responded to promptly and the necessary decisions made while a business remains competitive if real-time data is used . ChemAnalyst offers many features for the real-time data analysis : live data visualisation with the help of real-time dashboards , setting up alerts and use of a predictive model . ChemAnalyst therefore ensures that firms have a complete view of the market in real-time , they are able to manage their supply chain costs effectively and hence boost efficiency .

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