Artificial Intelligence is all the rage at the moment. There isn’t a news site you can open (or a social media page for that matter) without encountering it after scrolling for just a few seconds … if you needed to scroll at all.
But in the supply chain industry, which is known for clinging to traditional processes, AI is often deemed little more than an automation tool.
Source86, though, know otherwise.
Thanks to AI’s advanced capabilities in data analysis, predictive modeling, and automation, it’s streamlining operations, optimizing inventory management, and enhancing decision-making in the supply chain.
The AI question on everyone’s lips
“Have you tried out ChatGPT?” It’s the question that made its rounds in almost every circle. From business leaders to artists to parents, everyone wanted to know what this simple, accessible artificial intelligence could do.
And it didn’t disappoint.
ChatGPT started generating real-time insights and resolving queries from the moment it went live. What’s more is it could also provide personalized support that could lead to improved coordination, enhanced customer experiences, and stronger supplier relationships in an instant.
But AI doesn’t stop with a few quick-access insights. It’s not even just about business growth, it’s about revolutionizing the way we do business with a more holistic view of our information ecosystems. And when it comes to import supply chains and international logistics, that panoramic view of challenges and considerations can make a world of difference.
The birth of an invisible revolution
AI’s intuitive insights are transforming the way we do business, from improving decision-making and increasing efficiency to reducing costs and improving customer satisfaction. And it’s these advantages that have made it a valuable part of Industry 4.0’s foundation.
But where the progress of previous industrial revolutions was visible in the technologies they created, AI’s impact isn’t always visible as it takes no physical form. Hence the term “invisible revolution”.
But its impact is no longer invisible. With the launch of OpenAI, the platform behind AI tools such as ChatGPT and Dall-E, artificial intelligence has become an accessible tool that anyone can access, putting insights that were only accessible through enterprise-level SaaS tools within reach for free.
But how is AI improving supply chain management and inventory control for food brands?
How does AI impact inventory and supply chain management?
AI is revolutionizing the game by transforming traditional processes by driving efficiency and innovation. And that transformation is resulting in benefits that stretch from reduced costs to increased customer satisfaction.
But here are a handful of key ways in which AI is affecting the food industry:
Inventory optimization and shortage management
More efficiently than ever before, Source86 is able to identify the gaps in inventory and identify which orders should be prioritized to stay ahead of consumer demand through AI.
Capacity planning and improved forecasting
With sales activity trends painting a picture of what’s to come, Source86 can help our clients see how capacity needs to be adjusted to prepare for the next stage of their journey.
Smart recommendations
As sourcing partners, Source86 can now make smart recommendations to supply chain managers by identifying possible bottlenecks and unforeseen abnormalities to help streamline production scheduling.
Better inventory management
Inventory management, the heart of the supply journey, is far more efficient when your inventory partner has an instant overview of the manufacturing, logistics, and operational aspects that have an impact on inventory.
Improved visibility and transparency
Through AI, we provide our clients with real-time visibility into the supply chain, allowing you to track products and materials from the source to the end customer.
Enhanced communication
AI can facilitate communication among supply chain stakeholders by providing a common platform for collaboration. This can help build trust and improve collaboration among stakeholders5.
So what’s next?
These insights and advantages are helping Source86 do what we do … just so much more efficiently.
Because at the heart of all of this lies the ability to bring about better decision-making capabilities – for us and for our clients – and the ability to better prepare for what’s next.
Being a wholesale importer means we work with complex supply chains that consist of multiple parties. And AI has helped us connect the dots in that complex wholesale supply chain far quicker than before (and you know how vast those dots can get).
Today, thanks to AI, we’re able to predict the impact weather changes can have on harvest yields; how foreign economic issues will affect the farming communities we work with; how food trends will alter bulk import requirements; and so much more.
Artificial Intelligence is so much more than an automation tool, and we’re right on the frontlines proving that every day. Curious to see how AI is transforming our ingredient sourcing and supply processes? Reach out to us for an enlightening conversation. And while you’re at it, don’t forget to check our product list to explore the diverse array of ingredients we offer, all backed by the power of innovation.
