Soon, supply chain planning will be one of the areas most influenced by artificial intelligence. More than ever before will data determine the landscape of the supply chain and be responsible for organizational changes and the rise of business models.
We were able to identify the three elements, which will build the basis for this revolution and that have already manifested themselves in today’s planning landscape. First, we find an ever-increasing number of data sources producing more and more data than ever before. Second, the end devices achieve unmatched processing performance. Combining this with universal access through cloud solutions the transportation of information is faster than ever before. The third element is intelligent algorithms that analyze the heaps of data, recognize patterns, and finally make smart forecasts. The growth of data sources, the increase in processing performance and the creation of increasingly intelligent algorithms will also experience an upward trend in the coming years, so that nothing stands in the way of the integration of artificial intelligence into the existing planning processes.
But for many companies this is in the (not so near) future, as planning is often a conservative task, which allows only a small number of influencing factors. Until today this was very understandable, because you cannot expect a human being to see patterns in millions and millions of unsorted data points – especially not when it is required to make decisions within split seconds.
Therefore the only logical step forward is to hand over the data analysis to someone else: a continuously learning, intelligent algorithm. This creates freedom for the planners, who can now focus on the true challenges, like analyzing the depicted reality and propose measures and actions to steer the company. Outliers and new situations will always need the input from experienced planners. Artificial intelligence should only help in our processes, but not overtake them.
We, at smartPM.solutions, use artificial intelligence to gain insights from large and extensive, sometimes unsorted amounts of data, combine these with various external factors and use these insights to create reliable forecasts, for example on units sold and price trends. In this case, our software represents a significant simplification for almost all planning tasks in your company. Whether you’re an account manager planning turnover for the next months, a marketer planning his next campaign or a controller consolidating inputs from all over the company, our tool will make your day-to-day business a lot easier and give you the time to focus on what matters the most!
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