In recent years, the capabilities of operations intelligence platforms have become more wide-ranging and stronger with machine learning and AI. The ability of operational intelligence systems to match demand to supply in real-time may offer a solution.
The COVID-19 pandemic has directly impacted the retail industry in terms of consumer presence in brick-and-mortar stores, growth in eCommerce, and more. Still, it’s also highlighted some glaring inefficiencies and shortcomings in the industry’s supply chain.
Digital transformation has been an ongoing trend over the last decade, but the pandemic has accelerated this to new heights and at an unprecedented pace.
Supply chain managers need to prioritize their time, investments and strategies for the next year to create strategies to make impactful change for 2021 and beyond.
For supply chain managers, the COVID-19 crisis exposed issues that have been plaguing the supply chain. These include lack of data visibility and information flow, a reactive approach to problems, limited automation, and slow adoption of artificial intelligence and machine learning.