The Rise of AI, Machine Learning, Big Data, and Blockchain – Are Machines Threatening the Job of a Supply Chain Manager?
Technological advancements in AI and machine learning have come a long way, causing a stir among some people over the future of humanity. Today, many complex tasks that could once be done only by a human can be done by a machine. Deep learning and neural networks have given computers the ability to think like […]READ MORE >>
Technological advancements in AI and machine learning have come a long way, causing a stir among some people over the future of humanity. Today, many complex tasks that could once be done only by a human can be done by a machine. Deep learning and neural networks have given computers the ability to think like a human, and in some case a lot better. So, does this mean that machines will take over the job of a supply chain manager? It seems quite early to come to that conclusion yet, but recent development suggests they are getting closer.
Does Perfect Information Exist?
For a long time, perfect information was considered a myth. A supply chain manager is equipped with supply chain and logistics data, but cannot have perfect information about the market. However, machines have an edge over the supply chain manager as it can take inputs from numerous sensors, communication devices, servers, and data registers. In addition to this, it can also process all such information to provide a robust analysis of the problem.
Machine Never Forgets
A supply chain manager can forget to execute a certain task or delay some decisions, but an interconnected network of IoT devices wouldn’t miss out. For instance, sensors in the warehouse can identify reduction in stocks and automatically place order requests to the supplier. Thus, IoT can cut costs and improve efficiency requiring lesser personnel, which contributes to increased profitability.
So, What About the Security?
There are security concerns over increasing our dependence on machines. Questions such as what if someone manipulates the data or what if the system is hacked raises concerns over security. To resolve such security issues, supply chain managers are resorting to private blockchain technology. Such a technology enables a supply chain manager to share information with restricted stakeholders and at the same time maintain transparency.
The IoT technology and accuracy of algorithms are improving each day. However, the day when a supply chain manager will be replaced by a machine is a distant dream. At present, supply chain managers are embracing this technology to optimize their supply chain. Even in the near future, people are required to do handover jobs, make strategic decisions, and maintain supplier relationship.
To know more about AI, big data, machine learning, and blockchain’s implication in supply chain management:
- IoT: A Gamechanger in Supply Chain Planning
- Cloud Technology Changing the Supply Chain Management Landscape
- Top 5 Drivers of Supply Chain Innovation