Key Findings from the 2024 Agility Index Research Study: AI and Automation in Supply Chain Management
In a recent study conducted by Epicor and Nucleus Research, it was revealed that nearly half of companies in the make, move, and sell industries are facing challenges due to escalating costs in their supply chains. To combat this issue, more than half of these companies have turned to artificial intelligence, automation, and machine learning.
The study, which surveyed over 1,700 supply chain management leaders worldwide, found that businesses experiencing high growth have already integrated generative AI into their supply chain operations to manage costs and operational challenges effectively. This integration has allowed these companies to thrive amidst supply chain disruptions, rising costs, and skilled labor shortages.
Vaibhav Vohra, Chief Product and Technology Officer at Epicor, emphasized the importance of empowering workers to innovate, stating that this is where the real value creation happens. The adoption of AI and automation technologies is seen as essential for supply chain businesses to adapt to market conditions and better serve their customers.
Specifically, the study highlighted the widespread use of generative AI in customer service chatbots and product descriptions, as well as the implementation of machine learning in inventory optimization and demand forecasting. Survey respondents expressed optimism about the impact of automation technologies, citing increased efficiency, cost savings, and improved supply chain automation as the main benefits.
Overall, the research indicates a growing trend towards the adoption of AI and automation technologies in supply chain management, with businesses recognizing the potential for significant improvements in efficiency and productivity.
