Your company is surrounded by a web of customers, suppliers, strategic partnerships, financial institutions and more. Companies must collaborate with these different organizations to grow. This means working across many different systems, processes, and applications. This can turn into a mess in no time. It’s expensive, and time-consuming. And can become a source of costly mistakes. Approaching data as a process optimization, then integrating, creates an opportunity to turn that tangled mess into a powerful, automated and streamlined set of processes.
Artificial intelligence, or AI, is transforming the way business is done and will contribute up to $15.7 trillion to the global economy by 2030. AI can enable exceptional agility and precision in supply chains, regardless of the industry. It can ignite transformational improvements in efficiency while decreasing costs where repetitive manual tasks can be automated. Using prescriptive logic and data analytics to push simple decision making down [to AI], enables your workforce to focus on higher value business problems.
Many supply chain inefficiencies can be attributed to business practices at the supplier and logistics level. Identifying these inefficient practices can provide a clear means to leverage the supplier base and improve performance.
Another area is AI and Data Analytics. Historical and current data are hugely helpful in determining the success of the client’s supply chain. Utilizing data can point to areas of deficiency and weakness. It can uncover errors that have driven a client’s inability to make accurate supply chain decisions. AI and data analytics can help develop a good supply chain model to provide a solution in improved – faster, more accurate – decision making.
Most of our supply chain strategies are common sense efforts to free up data and make it available to the people and systems that need it. At the interface, strategies are tailored to meet individual customer’s demands. We work with clients to map their current processes and normalize data based on their specific needs. The process of mapping IT and transactional flows, along with the business processes they support provides an understanding of supply chain dependencies, bottlenecks, and allows for risk mitigation. This helps deliver a holistic view of the supply chain for the customer and a clear path forward to manage change. No nonsense value engineering and delivery.
As companies are moving more towards increased digitization, AI, and predictive analytics, supply chain management will not be an exception. Retail EDI will continue working with clients to help them to utilize the following approaches and trends.
Supply chain cloud computing offers flexibility, scalability, and global reach while reducing the need to maintain expensive computing infrastructure, maintenance, and costly upgrades. Retail EDI is partnering with several, leading SCM software providers to offer their solutions to customers and migrate from legacy solutions. This includes both warehouse, inventory, ERP and integration technologies. Digitization includes all efforts to connect SCM systems into a unified whole as well as implementing new digital technologies. This creates paperless systems while providing a single version of the truth for customers to leverage across the enterprise.
Enabling consumers to seamlessly shop online, in brick-and mortar stores, or both – omnichannel supply chains place greater demands on suppliers and related logistics with the simultaneous requirement of supplying individual, and wholesale orders as well as replenishing stock at retail stores. Retail EDI is focused on helping clients switch from single and multi-channel supply to omnichannel fulfillment.
With greater access to data, more organizations are turning to AI and machine learning to simplify tasks and automate procedures. Predictive analytics and machine learning are being used to improve planning and decision support systems, identify purchasing patterns, automate warehousing processes, and manage inventory. A perfect example is Supplier Managed Inventory programs (Including VMI and SBT). Many organizations are using AI to replace humans performing repetitive supply tasks and perform complex supply chain calculations. For example, using a Data Warehouse and AI strategy to support demand planning for VMI. Prescriptive analytics is being increasingly used as a supply chain decision-making tool to free up valuable human resources for other tasks.
Retail EDI embraces leading technologies, and incorporates them with traditional supply chain technologies. As a result, clients receive best in class supply chain capabilities.
Our consultants have all worked for the largest integration providers on the market, and/or have been providing logistics, and supply chain expertise in the field for years. Our ability to improve performance and reduce ‘cost of data’ comes from not less than ten years experience per colleague. This enables Retail EDI to radically improve how many companies support integration internally and across B2B relationships.
Understanding how to deliver transformative automation, cost-effective data B2B integration and data management for your supply chain is what we do.
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