Advances in hardware and software are making it possible for computers to make decisions that used to require human judgement. The information value chain illustrates how advances in computer intelligence are eliminating the need for people to perform many tasks in a supply chain. Using a process framework helps to identify which tasks are best done by a person, which are best done by a computer, and how that is likely to shift over time.
- Artificial intelligence is an important…trend for supply chains,…so we need to understand what it can do…and how to integrate it into our operations.…Most of the jobs that we do…throughout a supply chain…involve making decisions and taking actions.…We make a decision about which supplier…to buy a product from…and then we take the action of placing an order.…Every decision and action is the result of a process,…and processes can be broken down into tasks.…
I like to analyze supply chain tasks…using a model called the information value chain.…Some tasks involve data.…Data could be a name, a phone number, or a price.…These are examples of structured data,…but data can also include things…like pictures, conversations, and videos…that are called unstructured data.…When we create a relationship…between two pieces of data, we get information.…This makes the data more valuable.…
For example, a picture with a description attached to it…is probably more helpful…than either the picture or the description alone.…Sometimes we structure and filter information…
- Explore the fundamentals of source inputs within a supply chain.
- Examine the role of returning products in a supply chain.
- Determine how to calculate total costs.
- Explore the role of investing in flexibility when managing a supply chain.
- Discover how to increase visibility with a control tower.
- Identify the role innovation plays in supply chain management.
- Examine how artificial intelligence and machine learning help to monitor supply chain trends.
- Break down the fundamentals of selecting the right technology when implementing a supply chain agenda.
- Determine the best ways to collaborate externally when implementing a supply chain agenda.