Intelligent supply chain planning platform – A game-changing strategy

A recent study by PwC found that forecasting demand is the biggest challenge to businesses and their supply chain planning today. This is partially due to the ever-changing dynamics of global markets that are more interconnected today than ever before. Modern supply chains are complex webs of organizations and systems that work together to move goods from various suppliers to produce products for the end customer. 

Another key challenge most supply chains face is properly managing the business’s inventory. The demand for just-in-time delivery is increasing, and it is becoming more vital than ever to have systems that can efficiently manage stock levels. And given the fluctuating demand from customers, supply chains today often need to adapt to changes rapidly and make real-time adjustments to avoid wastage.

To do all this effectively, businesses need to have a planning platform that can analyze demands and supplies and provide intelligent solutions. These tools can help automate tasks, optimize the flow of goods, and give regular updates to all involved in the process.

What is Intelligent Supply Chain Planning Platforms?

Intelligent supply chain planning platforms are software that use artificial intelligence (AI) to analyze supply chains. These platforms use past and present data to make predictions about demand, inventory level, and various other factors that can impact a supply chain’s operations. They can help organizations plan, optimize, and execute their supply chains more efficiently in real-time, resulting in better management and reduced costs.

An intelligent supply chain planning platform is an asset for businesses of all scales and sizes. It can help small businesses compete with bigger competitors and gives them the capability to optimize their supply chains quickly and efficiently. It can also help large businesses overcome the challenges they face because of their scale and help fuel further expansion by allowing them to better manage complex global supply chains.

What are the features of intelligent supply chain planning platforms?

Intelligent supply chain planning platforms are end-to-end planning tools. Typically, these include the following features:

Forecasting demand: The platform uses previous data and artificial intelligence technology to predict the future demand for products and services. It can help businesses plan their inventory, logistics, and production schedules accordingly.

Managing Inventory: An intelligent supply planning platform can help businesses keep track of their inventory in real-time. This allows them to both excess stock and stock-outs, which leads to reduced wastage and significant savings in cost.

Managing exceptions: Intelligent supply planning platforms can also help businesses identify and resolve issues that can impact their operations. This includes late deliveries, missing inventory, and damaged goods.

Monitoring Proactively: Intelligent supply chain platforms proactively monitor operations using data sciences in the supply chain and alerts whenever an issue arises. This helps businesses avoid disruptions and keep them running smoothly.

What are the benefits of using intelligent planning platforms over traditional methods?

Traditional supply chains come with multiple disadvantages. They are easy to manage only when they are simple but are only as strong as their weakest link; if any process fails or lags, the entire chain, and therefore, the production, is affected. They are harder to replace, and often the businesses can grow only up to the level suppliers can allow them. Any complexity can cause the entire chain to become inefficient. 

Intelligent supply chain planning platforms have countless advantages over traditional chains, a few of them being:

Flexibility: Intelligent supply chain platforms help the supply chain become flexible and are customizable to meet specific business requirements. They allow companies to optimize their supply chains according to their needs and requirements.

Expansion: Intelligent supply chain platforms allow businesses to expand their operations into new regions or scale up by using multiple sources for the same goods and services. 

Accuracy: Intelligent platforms use artificial intelligence and machine learning technologies to predict demand, inventory, and other factors. This leads to higher accuracy in forecasting and planning.

Speed: Intelligent supply chain platforms are fast and can quickly handle large amounts of data. This allows businesses to make faster decisions and quickly respond to changes in the market.

Cost: When compared to traditional methods, intelligent supply chain platforms are affordable and cheaper in the long run. This makes them a conceivable option for businesses of all sizes.

3SC’s latest intelligent supply chain management platform SCAI is an agile SCM solution that offers real-time data insight so that planners can proactively manage their supply chain and ensure enhanced efficiency and productivity.