![]() ![]() In addition, predictive analytics can also be used to analyze historical supply chain data. ![]() This means that, rather than relying on forecasts that tend to be inaccurate, businesses can benefit from an AI-driven predictive analytics tool that can predict demand accurately, enabling them to manage their inventory and resources better. One of the most common ways that AI is used in future-forward supply chain and procurement operations is through predictive analytics, which provides autonomous and near-real-time insights that can inform decisions regarding inventory levels and purchase orders. In short, AI is the modern answer to the challenge of how to effectively manage supply chain management and procurement in the data-rich environment of the 21st century. At this stage, AI in supply chain is still in its early days, but its potential is remarkable. Artificial intelligence (AI) has significantly affected the way supply chain and procurement are conducted.
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