Intelligent automation, smarter workflows, provides actionable insights to accelerate time-to-value, increased agility, and improved supply chain resiliency are some of the factors contributing to the growth of the artificial intelligence (AI) in supply chain market. The supply chain industry has witnessed an increasing trend in the use of automation technologies such as business process management (BPM) and AI to scale and streamline decision-making across organizations. By automating lower-level tasks throughout supply chain operations, AI helps improve operational efficiencies, free up resources, and simplify processes, which is expected to significantly fuel the growth of the AI in supply chain market.
Next-generation supply chain control tower technologies assist organizations in recognizing and resolving critical supply chain issues more quickly with actionable workflows, advanced analytics, and end-to-end visibility. By leveraging the power of customized workflows, automation, AI, and open platforms, organizations can better predict, plan for, and respond to complex supply chain operational challenges. These characteristics and benefits of artificial intelligence technologies are expected to increase its demand in the supply chain industry.
The COVID-19 pandemic accelerated the growth of artificial intelligence in supply chain market. The pandemic highlighted the importance of AI in supply chain management, as businesses needed to find new and innovative ways to adapt to changing demand patterns while maintaining operational continuity. The integration of artificial intelligence in predictive analytics, self-driving drones and trucks, and automated robots for warehousing significantly increased during the COVID-19 pandemic, and resulted in market growth across the supply chain industry. Additionally, the use of AI in demand forecasting, route optimization, inventory management, contact tracing, warehouse management, and supplier selection, increased significantly during the pandemic, resulting in the growth of the market. The use of AI has proven to be a valuable tool in supply chain management, particularly in response to the challenges posed by the COVID-19 pandemic.
In addition, initiatives by public and private organizations associated with artificial intelligence in the supply chain industry are also anticipated to accelerate market expansion. For instance, in November 2022, Microsoft, a technology company specializing in software solutions, announced the launch of its Microsoft Supply Chain Platform, a customizable platform that aims to help organizations optimize their supply chain database investment through an open approach by combining the best of SaaS applications, security, low-code, collaboration, and Microsoft AI in a scalable platform.
Organizations are constantly undertaking initiatives such as partnerships, acquisitions, and mergers to gain an advantage in the highly competitive market. For instance, in December 2022, Accenture, a provider of consulting and information technology services, announced partnership with Planet Labs PBC, an earth imaging company based in the U.S., with the aim to assist organizations across the government & forestry, energy, consumer packaged goods, and agriculture industries with valuable insights for decision-making. The two companies will collaborate on a variety of impact and sustainability initiatives, including data-based climate risk assessments, traceable supply chain strategy, and measurement by combining Accenture's deep industry and technology expertise and broad range of sustainability services with Planet Labs PBC 's high frequency satellite imagery data.
Natural Language Processing (NLP)
Supply Chain Planning
Food & Beverages
Middle East & Africa
Advanced Micro Devices, Inc.
Deutsche Post DHL Group
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