Supply Chain World Volume 11, Issue 5 October 2024 | Page 23

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Disruption
and generate recommendations that align with organizational goals such as carbon reduction or diverse supplier selection . In addition to supporting risk prevention and automation , AI plays a key role in helping businesses pivot rapidly when they need to change their sourcing strategy and select a new supplier . business health . Although consumers may initially understand delays due to wellpublicized global events , they will shop with their feet and quickly turn to retailers that can guarantee their must-haves are well-stocked .
Take , for example , predictive analytics : these can help forecast potential supply chain bottlenecks based on a huge range of both internal data like historical supplier performance and geopolitical events , as well as external market data .
AI-driven automation can also streamline the procurement process , reducing the risk of human error and ensuring that critical decisions are made based on accurate , realtime data . Generative AI can help analyze supplier proposals , identify key risk factors ,
Preparing for future uncertainties
With supply chain disruptions emerging more and more often , retailers need to leverage technology within strategic planning . AI ’ s role in supply chain management is poised for significant growth , with emerging technologies like generative AI offering even greater opportunities to enhance procurement strategies and improve efficiency .
Looking ahead , building a resilient supply chain is more critical than ever . Companies that take proactive measures to integrate AI-powered analysis to manage risk now will be better equipped to handle future uncertainties . The data required to make rapid and informed contingency plans already exists ; retailers must now harness the tools to take decision making to the next level in face of ongoing disruptions . ■
For a list of sources used in this article , please contact the editor .
Simon Thompson www . jaggaer . com
Simon Thompson is the Vice President of Sales Northern Europe at JAGGAER . With over 20 years of industry experience at several procurement technology providers , Simon is passionate about driving change by creating meaningful value . Simon leads JAGGAER ’ s UK , Nordic , and Benelux Commercial teams with a focus on performance and strategy .
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