In the past decade, Artificial Intelligence (AI) has come out as something that people use almost every day without even realizing it. Apart from powering a huge number of applications and other digital devices, this technology stands to benefit all industries including supply chain. In fact, many companies have already started benefiting from investing in AI. A report by State of Artificial Intelligence for Enterprises shows that supply chain is one of those areas which will significantly benefit from AI. On the other hand, PwC states that AI could inject up to $15.7 trillion to the global economy by 2030.
Baby formula continues to be scarce throughout the United States as parents scramble to feed their babies amid a supply chain crisis. No product seems to be immune to the supply chain disruption with baby formula being the latest causality amplified by the covid-19 pandemic, historic inflation and numerous recalls. With no end in sight, parents are becoming desperate as store shelves lay empty throughout the country. "Unfortunately, given the unprecedented amount of volatility to the category, we anticipate baby formula to continue to be one of the most affected products in the market,” Datasembly CEO Ben Reich advised.
The supply chain is undoubtedly one of the most crucial parts of any business. For this reason, most executives believe that getting the supply chain right will translate to better supply chain costs. This is not an easy task considering the supply chain is a series of discrete siloed steps that are taken through marketing, development, manufacturing and distribution of a product to the hands of a customer. However, with digitization, the siloes are broken. The chain becomes an integrated, transparent ecosystem for each player, from raw material suppliers, components suppliers and transporters of finished products to the customers who demand fulfillment.
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