How about a software that allows your company to track all your suppliers while reducing risk to supply global chain operations? And a system of cameras and Artificial Intelligence to spot electronics-manufacturing deficiencies during assembly?
In the presence of this pandemic disruption and its consequences, this kind of preventing-risk- software companies are on the rise, whilst organisations of all sizes become more interested in trying risk-intelligence services than they did before, to transform their processes digitally.
Pandemic lockdown cutting off supplies of essential raw materials and components, and the latest social-distancing restrictions, augmented the cost of manual labour. Because of this, businesses producing digital tools are flourishing due to the service tools they manufacture, which make it easier to trace out supply chain probable risks, operating industrial unit or even anticipating demand.
The response from companies and suppliers to such applications has been impressive, as organisations now are willing to invest in supply chain risk management.
Artificial Intelligence supporting the Supply Chain
Similarly, digital companies are taking steps to procure electronic manufacturers for its Artificial Intelligence platform and support companies maintain control of production processes, whether distant or offshore locations without sending engineers on-site. Some top industries, like Toyota Motors in Japan, could have more than 2,000 suppliers involved in its production processes. Hence, they want solutions for next week!
During the early outbreak of lockdowns, many organisations found out that any disruption in their multiple-supply chains resulted in production breaks from top to bottom. However, it taught them to look forward efficient tools to safeguard operations from upcoming turmoil.
A recent survey by PricewaterhouseCoopers showed that more organisations are planning to deploy automation tools in the supply chain to cope COVID-19 crisis. Exploration and order for these apps are mainly from companies that shut down at the acme of the pandemic.
Robotics, material or repairing systems could contribute significantly to cover job losses. On the other hand, business manufacturing AI tools, are reinforcing their instrumental staff area to cope with the escalating demand of intelligent software.
The pursuit for Supply Chain visibility
Many companies have not proper visibility of their top suppliers and their SCs processes; if any, tracking was done manually, more often than not before the pandemic.
Now, some companies are deploying vibration sensors in factories of critical suppliers to track whether they are still running or not. Equipment manufacturers who have warehouses around different countries mentioned that the virus outspread left the company managers insecure of whether industrial units could work from one day to the next, tracking possible broken-down connections in the supply chain.
Cloud technology units are taking advantage of the status quo, as it brings up a significant opportunity for service companies.
These Artificial Intelligence tools deliver early alert of would-be supplier disruptions, such as critical-massive industrial unit closures, driving clients to bankruptcy; they also support clients by monitoring the processes of their customers.
For instance, a cleaning and pest control service company has been solidly financing digital applications for several years. The recent investment in Artificial Intelligence allows it to supervise thousands of customer sites. This capacity empowered it to keep on operations, while taking part remotely to serve customers even at the highpoint of the health emergency, cutting yearly capital spending by half, but still keeping intact the budget for digital transformations. The organisation is fast-tracking plans to automate services to avoid workers from potential infection and focusing on implementing health protocols in the shortest-term possible.
Summing up: once your company overcomes the effects of the crisis, it would be the time to focus on applications providing Artificial Intelligence that support your understanding of the pandemic impact on supply chains.
Are you now investing in the best risk-preventive intelligence tools?