How Artificial Intelligence Can Improve Supply Chain Management

Retail giants like Walmart have been plagued by supply chain management issues that are having a major impact on their earnings and share prices. While these retailers are using artificial intelligence (AI) to predict demand, their models have proven unreliable in our fast-changing reality of covid and inflation.

#artificialintelligence #supplychainmanagement #digitaltransformation

[bl]

So much value in this podcast! Thanks!

[jonryannerickson]

I live close to Boston, Massachusetts. I'm close to finishing my MBA at Curry College and we are working on our capstone project about artificial intelligence in retail and e-commerce with a specific retail store. thanks for the information. Jon

[rododoherty]

Just thinking about this, if AI is only learning from actual sales history, then it cannot see the full 'potential' demand. That is it only sees what was sold, but cannot learn about potential failed sales volume for product which was out of stock. In this case it cannot know what 'could have been sold'. For a fuller, if imperfect solution, it probably needs to include data of customer queries about when an out of stock item is likely to be back in stock, or back orders with suppliers?