Supply Chain 2020 Vision – Part 1: Data and AI

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Supply Chain 2020 Vision Part 1 Data and AI
https//katalysttech.com/
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Supply chain managers minds are presently
occupied by the Peak Season rush, but discerning
industry leaders are looking forward to 2020 and
the trends expected to shake up operations. From
factories to warehouses to delivery trucks, new
and evolving systems incorporating technology
will transform supply chains to become more
efficient and effective in meeting the needs of
customers and companies alike. Katalyst Technologi
es reached out to experts to get the inside track
on whats in store for supply chain management
processes in 2020 and beyond. This three-part
series will provide insight that will help you
prepare for the new year.  Data Reigns
Supreme  As the processes of data collection,
management, and analysis have become more
critical for organizations, they have also become
much more complicated. Companies must
consistently seek out new solutions if they hope
to make sense of the massive amounts of data.  
Many supply chains have an abundance of data and
dont really know how to even look at it and how
to use it, says Stephen Hopper, founder of
Atlanta-based Inviscid Consulting. In recent
decades, companies had the foresight to track
data but seemed uncertain on how to actually
utilize it. Once they realized the value of what
they had acquired, it was an overwhelming mass of
information overload. You cant boil the ocean,
Hopper says. Theres just too much data out
there that you cant use it all. Youve really
got to figure out what the most effective data
points are. 
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One method that is catching traction is
blockchain technology, which consolidates data to
allow for more reliable, accurate, and up-to-date
information. Each chain in this decentralized
process is connectedmodifying one link will
alter every single one thereafter, making it
essentially impossible to corrupt data without
detection. Because of this, organizations are
increasingly turning to blockchain, and the
benefits to SCM are abundantly clear.  Its
almost like a spreadsheet, says Davielle Panzullo
, Senior Logistics Manager at Verizon Wireless.
Everyone has a copy of that spreadsheet, and
then once one person updates it, everybodys copy
of it gets updated. What that does is, when
youre running a report, youre always going to
have current data. No matter how often you run
it, youre going to have consistent
data. 
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The Rise of AI Managing a supply chain is
challenging no matter what, but companies not
taking advantage of technology and machine
learning will find it impossible to keep up with
consumer demand. How to best utilize AI varies
from organization to organization, but it can be
invaluable in interpreting data and also in
establishing more efficient warehouse
practices. Theres a big movement in robotics,
says Lynn Smith, Vice President of Supply Chain
Management at Katalyst Technologies. He expects
to see an increase in Automated Storage and
Retrieval System (ASRS) usage, such as the Kiva
robots that Amazon has employed for several years
now in some of their warehouses. Were doing a
lot of work with companies using palletizers,
things that actually replace labor force, so
youll use palletizers to unload trucks. They
dont get tired, they never take breaks, they
just work. Panzullo echoes the practical
benefits of these robots, and also points out how
their consistency allows for better operations
across the entire supply chain. Instead of
picking 100 pieces per day, theyre picking 1000
pieces per hour, she notes. Theyve really
changed the process and changed productivity.
Having that just makes it so much easier to
forecast. Theres no doubt that technology
has advanced tremendously to make it easily
implementable, adds Hopper. Its just that
companies have dragged their feet in adopting
those kinds of things, but in the last year Ive
started to see that increase. So I think the
adoption level of some of those kinds of
technologies is going to continue to increase
pretty rapidly if economically everything stays
on track. Source Link - https//katalysttech.co
m/blog/supply-chain-2020-vision-part-1-data-and-ai
/  
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• Katalyst Technologies is a leading IT services
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  sciences, e-commerce, logistics, and retail
  sectors. We provide industry specific IT
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