Interos Takes Center Stage at Supply Chain USA: AI’s “Golden Moment” for Resilient Supply Chains (3 Key Takeaways)

May 29, 2024
Dianna ONeill

Photo: Interos Industry Principal Patrick Van Hull (far right)

As 600+ supply chain leaders converged on Atlanta, one concept dominated all others. “AI’s golden moment is upon us,” said Zero100 CEO Kevin O’Marah in opening remarks for the 2024 edition of Supply Chain USA.

More than a “moment,” supply chain AI has surpassed critical mass at warp speed.

According to Gartner, 74% of high-performing supply chain organizations partner with IT to establish robust data security mechanisms for leveraging AI/ML, compared to only 61% of lower performers. Furthermore, McKinsey’s “The State of AI in 2023” report found that 65% of respondents said their organizations have adopted AI capabilities for supply chain management functions.

Interos Industry Principal Patrick Van Hull emphasized this tectonic industry shift during his main stage conference presentation alongside senior supply chain and technology leaders from General Mills, Chevron, and Amgen.

Van Hull stressed AI isn’t just about navigating challenges, but about “using AI to empower individuals to create meaningful, impactful results.”

Here are three additional key takeaways he shared:

1- AI can expand the scope and narrow the risk aperture. Imagine a crystal ball that enables enterprises to see potential disruptions and offers more profound insights into their ecosystem. What about sharing insights across functions in common tools that continuously monitor for changes and enable on-demand reporting? Augmenting human intelligence with the analysis of vast datasets ensures that supply chain leaders have more visibility to understand what’s most material to their enterprise when making informed decisions that align to business goals.

2- Harnessing the data goldmine is all about understanding acute business problems and aligning technology like AI efforts to enable people to solve them. However, the success of these initiatives hinges on a crucial factor: executive buy-in. C-suite leaders need to champion AI integration into supply chain management, driving the necessary cultural and procedural changes that will shape and sustain the future of supply chain management.

3- Traditional supply chain systems can be complex, making it challenging to see beyond point-to-point transactions. At its core, any effective supply chain relationship makes interactions more accessible and impactful. AI enhances these relationships by breaking down silos and enabling seamless information flow. AI empowers all stakeholders to collaborate more effectively to improve operational efficiency and sparks innovation and continuous improvement across the value chain.

While there’s so much more to digest and apply, the initial insights from Reuters Supply Chain 2024 highlight that organizations can build resilient, efficient, and agile supply chains across multiple inflection points:

  • Supply chains mapping: AI rapidly maps interconnected supply chains to reveal hidden failure points
  • Hidden insights streamlined and consolidated: AI uncovers valuable information and patterns from massive datasets
  • Proactive, not reactive: AI enables enterprises to anticipate and address disruptions before they strike.

The key to success is expanding the value chain scope, measuring performance and impact in innovative ways, and aligning the right data management strategies and executive support. Especially with the increasing influence and utility of AI, organizations have never been more enabled to turn risks into opportunities and build resilient supply chains that drive value creation.

 

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