Originally Published in CIOReviewIndia by Anand Kapoor, SVP - Data & Insights at Antuit
Retail supply chains have grown more and more complex, and companies must have end-to-end supply chain visibility to prepare for unexpected changes in demand. As such, retailers should explore practical, relevant ways to predict demand, while continuing to deliver quality, omni-channel consumer experiences.
In 1956, considerable fluctuations in production, inventories and profit baffled managers in General Electric’s household appliance division. Despite supervisory efforts, the variations endured. Traditionally, managers blamed these types of fluctuations on external causes, like business cycles.
To create intelligent supply chains, ones that can adapt to changing customer demands and increase efficiency and profits, enterprises are increasingly leveraging artificial intelligence (AI) and machine learning (ML).
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