(I told you there'd be lots of puns).
Supply chains have suffered in the past year. From the pandemic to other major events, like the blockage of the Suez Canal, supply chains have been forced to adapt to extremely dynamic situations.
AI has proven itself to be an essential tool to creating adaptive supply chain technology. AI was essential in determining how best to re-route ships from the Suez Canal last week, and it has even helped companies evaluate how best to plan for extreme events by building redundancy into business operations, such as knowing where and when to build new distribution facilities.
These AI systems use vast amounts of data to make supply chain predictions. They leverage customer purchasing trends and transportation network data to know how to distribute products appropriately and effectively. This technology has really paid off during the pandemic. Forecasting models have become arguably more crucial than ever for companies, especially those who had to change their manufacturing practices to match the changing demand for vital products such as ventilators.