As part of its World Economic Forum (WEC) annual meeting, the organization provided an analysis of AI's role in protecting supply chains from future shocks.
To address the significant changes on the global supply chain structure, WEC notes that the widespread adoption advanced technologies will "catalyze the digitalization of supply chain management, change how products and services are made and delivered, and enable the sharing of supply chain information in new ways. Companies that pilot and apply emerging technology platforms to traditional management will realize the kind of optimization the industry has sorely needed."
The group says at the procurement level, increased automation and advanced manufacturing will continue to reshape the labor force. "Total sourcing costs, especially in industries suited for automation and in countries that have traditionally been the engines of global supply chains, will also be impacted."
Overall advanced technologies, such as AI "have created a new paradigm where organizations can respond more quickly, proactively address problems, and reduce errors and inefficiencies with greater visibility, transparency, and traceability – all of which makes global supply chain infrastructure more resilient to future shocks and potential disruptions."
