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As they strive to make their supply chains more resilient, global companies are grappling with two challenges: the difficulty in discerning potential sources and the extended time required to find, vet, and onboard new suppliers. Companies such as Walmart, Tyson Foods, Koch Industries, Maersk, Siemens, and Unilever are using AI tools to swiftly find and engage with alternative suppliers during unexpected disruptions. They are also employing AI tools to pre-qualify suppliers ahead of time. These AI tools provide buyers with enhanced information that allows them to beat their competitors in securing alternate sources of supplies.
Ever since the disruptions caused by the Covid-19 pandemic, boards of directors and CEOs have been pressuring corporate procurement leaders to de-risk supply chains. Our recent research at Walmart, Tyson Foods, Koch Industries, Maersk, Siemens, and Unilever revealed how these global companies are using advanced AI technologies to plan for and adapt to supply-chain disruptions.
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Copyright for syndicated content belongs to the linked Source : Harvard Business – https://hbr.org/2023/11/how-global-companies-use-ai-to-prevent-supply-chain-disruptions