SUPPLY CHAIN

How AI is rapidly changing the face of supply chain management

By our News Team | 2023

Businesses can make more accurate predictions about demand, optimise their operations and make better decisions about inventory management.

Artificial intelligence (AI) is transforming the way businesses manage their supply chains, enabling them to improve efficiency, reduce costs and increase overall profitability.

In a blog post published recently, the IMM Graduate School of Marketing says the first way in which AI is impacting supply chain management is by providing real-time data and insights into supply chain operations. 

Supply Chain

Image by Riki32 from Pixabay

With AI, businesses can gather and analyse large amounts of data from various sources – such as sales trends, customer behaviour and supply chain metrics – to make informed decisions about their supply chain operations. This approach allows businesses to make more accurate predictions about demand, optimise their operations and make better decisions about inventory management and resource allocation.

Another way AI is impacting supply chain management is by automating routine and repetitive tasks. AI algorithms can be trained to perform tasks such as demand forecasting, order processing and inventory management, freeing up valuable time and resources that can be better spent on more strategic initiatives. Additionally, AI-powered automation reduces the risk of human error, increasing efficiency and accuracy in supply chain operations.

Real-time tracking of goods in transit

“AI is also impacting supply chain management by enabling real-time monitoring and tracking of goods in transit. With AI-powered tracking and monitoring, businesses can improve the visibility of their supply chain operations, allowing them to identify and address potential bottlenecks and delays. This real-time data can be used to optimise the flow of goods, reducing the risk of stockouts and overstocking, and improving overall supply chain efficiency,” the Graduate School states.

But, despite its many benefits, the implementation of AI in supply chain management is not without challenges. 

One of the biggest of these is the need for high-quality, accurate data. To effectively leverage AI in supply chain operations, businesses must have access to high-quality data from various sources. Additionally, businesses must be mindful of the need for data security and privacy, ensuring that sensitive information is protected from unauthorised access and misuse.

Another challenge organisations must solve is the need for specialised skills and expertise. AI algorithms are complex and require specialist knowledge to develop, train and maintain. Companies must, therefore, ensure that they have the necessary skills and resources in-house, or seek external support from experts in the field.

Read the full article here. 

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.