Vivek Sood's Blog, page 24

Applications of AI (Artificial Intelligence) in Supply Chain Management (SCM)

Almost all the current applications of AI in SCM are in the following three areas:Supply chain automation: after automation of the factories now it is the turn of the warehouses and eventually the trucks to give way to robotics. Although the current applications are still mostly in the experimental stages, the time is not far away […]

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The Expanding Role of AI in Supply Chain Management

Supply chain planning and execution needs decision makingFor a human to be switched on 24/7 and make real time decisions as soon as the data becomes available would be very costly, if not impossible.We deploy humans in shifts when this real time decision making capability is absolutely critical - e.g. plants that are running on […]

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How Two Disparate Mechanisms Of S&OP Are Melded Together?

S&OP brings together two disparate but essential mechanisms to look at an even bigger picture. On one hand, demand management is the art of maximising revenue achieved out of a pool of customers and products in a given period. The key questions asked are which customers to serve; where; with which products; at what price, and […]

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The Fundamental Foundation Of An Effective S&OP

In a quotation famously and perhaps apocryphally attributed to Intel Corporation founder Andy Grove, he said: “For one brief moment the demand will equal supply and we will have the perfect union. Rest of the time we struggle with either too much supply or too much demand.” Understanding and acceptance of the fundamental truth in the […]

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How You Measure Success of Your S&OP Determines Success of Your Company

Each silo measures the success of the S&OP process differently. Sales might believe it is successful if it manages to “hoodwink” the production to produce so much that there is no likelihood of stockouts. On the other hand, production might believe that making sales acknowledge the past forecast inaccuracies was its biggest success in the S&OP.  The […]

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What Kind of Information Technology Tools Are Needed for Sales And Operations Planning (S & OP) in 2021 and Beyond

We are asked this question in a number of workshops and public forums. That is not surprising - after all the question is worth at least $50 Million to a typical large corporation, and at least 2 years of intense effort.  And, while the rewards of success are lucrative, the costs of failure are even more […]

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The Most Promising Application of AI in Supply Chains

The answer to this question depends on two things:Timing of application - are we talking about current applications of supply chain AI, or future applications of AIHow to define most potential application - by number, or by business impact?Let me explain. If we are talking about what is happening currently, as you have already read […]

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How To Use Artificial Intelligence (AI) to Reduce Decision Making Time in COVID-19 Triggered SCM Crises?

The COVID-19 epidemic has resulted in the breakdown of supply chains globally, the economic impact of which will linger for years or maybe decades to come.A recent survey by the Institute For Supply Chain Management, nearly 75% of companies reported some sort of supply chain issues dues to coronavirus-related transportation restrictions. What makes it worse […]

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Digital Supply Chain Twins – Feeling the Pain in The Future of Supply Chain

There is a lot of talk about digital supply chain twin.A digital twin is meant to be a digital representation of a real-world supply chain environment. it showcases the relationships between all the relevant nodes of the supply chain — such as products, customers, markets, warehouses, manufacturing plants. It is meant to model and simulate […]

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Key To Fantastic Supply Chain Results

Like everyone else supply chain professionals also want to do a great job. They also want to be recognised for doing so. The last thing they want is a random call in the middle of the night berating them (or one of their people / suppliers) for a missed delivery or some such oversight. Yet, that […]

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