TECH & AI
As well as AI and data success stories in supply chains , Matchette warns that businesses can also experience problems – particularly around data overload .
“ Data is not useful unless it is collected and used effectively , and this is where the cloud comes in ,” he says , adding : “ The cloud can consolidate a vast range of relevant data sources , both external and internal , and make data interoperable across business functions .”
“ Armed with data-driven predictions , supply chain leaders can then more intelligently and proactively decide how they should respond to and meet demand , including determining what are the most appropriate actions to take in production , pricing , promotions and fulfilment .”
One venture helping businesses take data-driven supply chain decisions is
TealBook , which uses AI and machine learning ( ML ) to enrich and distribute supplier data globally , to help businesses make informed and strategic decisions .
Automation ‘ turns light on to supplier data ’ - TealBook Tealbook ’ s founder and CEO , Stephany LaPierre , says : “ We basically turn a light on to the master data and provide enrichment of the information in a more complete , more insightful way that ' s continuously dynamic ”.
LaPierre says that the problem for organisations is the abundance of solutions coming to market across all supply chain requirements , particularly around ESG .
“ A business might look to implement between five and maybe 15 solutions over time , but if these all require suppliers to
106 August 2022