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How Is AI/ML Enabling Better Supply Chain Planning? Every year, supply chain disruptions cost businesses an average of $200 million. The present world situation, be it the COVID-19 pandemic or the Suez Canal choking in 2021 to the ongoing political war, has exponentially increased the risks of these disruptions. Market volatility, supplier inconsistency due to political and geographical barriers around the world, COVID
A premium automobile manufacturer in the UK spent over $3 billion on product recalls due to malfunctioning braking systems, rearview cameras, airbags, and other minor issues. Another European luxury automobile maker’s previous three annual reports indicated it spent about nearly $7 billion recalling products for problems ranging from door locks to batteries, fuse boxes, fuel
How Information Silos Are Impacting Supply Chains? Supply chain planning is a vast field involving many departments and stakeholders using different technologies resulting in data silos. Traditional supply chain models store information in Excel spreadsheets. They maintain multiple closed ERP systems for various parts of supply planning in these sheets. Various stakeholders involved in supply planning have been using these siloed systems
Blockchain : 5 Things you should know about it Talk of blockchain technology is everywhere, it seems — but what is it, and what does it do?   1. Don’t call it “the” blockchain The first thing to know about the blockchain is, there isn’t one: there are many. Blockchains are distributed, tamper-proof public ledgers of transactions. The most well-known is the record of
Advanced Analytics : The 3 Biggest Trends Changing The Data Eco-system You don’t need us to tell you that the data world – and everything it touches, which is, like, everything – is changing rapidly. These trends are driving the opportunities that will fuel your career adventure over these next few years. At the heart of these trends is a massive wave of data being generated
Customer Segmentation: Data Science Perspective Organizations around the world strive to achieve profitability in their business. To become more profitable, it is essential to satisfy the needs of customers. But, when variations exist between individual customers how they can effectively do that.   The answer is- by recognizing these differences and differentiating the customers into different segments. But how do
Predictive Analytics: 4 Assumptions Business Leaders Have Business leaders and stakeholders often think about right time to start looking at analytics and sometimes fall shy due to concerns surrounding data availability, quality of data, lack of resources and value of the overall exercise. We have been asked quite a few questions ourselves in last couple of months by decision makers across Insurance
5 AI Myths : Debunked AI has received a lot of hype in the marketing community — and for good reason, too. As research and advisory firm Forrester Research notes in its report, “AI Must Learn the Basics Before It Can Transform Marketing,” AI-powered marketing applications promise numerous benefits, including efficiency and speed, smarter decision making, and optimized customer journeys and campaign
Undoubtedly, Artificial Intelligence (AI) can offer organizations a substantial competitive advantage if used in the right place and in the right circumstances. There is also considerable pressure on organizations to go the AI route for fear of losing an edge to competitors. This pressure can easily be felt by business leaders who need to craft