Undergoing supply chain management training is a prominent goal of several in the management industry. To become a supply chain analyst, one must complete a certification course. There are various certifications for supply chain professionals, available online. While pursuing this career one must understand how the SCM works in this new age of AI.
Nowadays, AI is an integral part of the competitive market. Businesses are constantly increasing their profit margin using AI. The supply chain market is volatile with the change in several factors and using AI businesses can keep up with the changes and make necessary changes in their system as needed.
There are several ways in which AI helps in supply chain management (SCM). One of the most prominent methods it adopts is to analyze the available data, both internal and external. Here are some tips for supply chain management in this AI era.
- Plan for the IoT Data
The various data applications in the supply chain make up one-third of the total IoT data. So it needs proper planning to collect, integrate and utilize it. Since the volume of data is ever-increasing, it needs proper tools to manage it effectively and AI comes in as the best option. It can handle data collection of any volume and streamline it properly.
While doing so, make sure to bring in variety with the data so that it can help with unprecedented methods and ways that detect any anomalies or disruptions in the SCM system.
- Make use of external data
In supply chain management, the volume of internal data itself can be vast. When using AI, one must also think outside the box and bring in outside data such as the local weather, customer reviews from external sources, vendor details, details about the competitor, etc to have a comprehensive database.
- Increase reactivity faster with AI
AI helps achieve a competitive edge in terms of responsiveness to any issues. It can detect problems and create alerts to take necessary preventive steps or find alternatives.
- Prioritize root cause analysis
AI is an effective tool in detecting issues and finding the root cause of the said problem. It can save time by early detection and gives an unbiased analysis of the root cause.
- Automation in the management system
AI can automate the various steps involved in SCM. It can automate administrative jobs, shipment updates, warehouse management, route planning, quality control, and shipping processes. The collective efforts can improve overall customer satisfaction or supplier selection.
What do you need to study to become a supply chain analyst?
Supply Chain Management is a popular career option and many are eager to become supply chain analysts. But, what do you need to study to become a supply chain analyst? It requires you to get some kind of supply chain management training.
Though a bachelor’s degree seems to be the basic qualification mark, having a master’s degree is an added advantage. To become an analyst one must take certification courses in the form of Professional Certification In Supply Chain Management & Analytics that provide expert guidance and job placement assistance.
The popular AI-assisted processes in supply chain management are GPS tracking of the shipment for both the company and customer, regular weather updates to help the shipping industry plan their shipments, keeping inventory to help with warehouse management, etc. Depending on AI has helped businesses to reduce their cost, customize their products, and reach more customers with better customer satisfaction.