Artificial intelligence, machine learning, Internet of Things, algorithms, cloud-based software—these buzzwords are commonly heard in the industry, but what do these technologies really mean for supply chains? How will advances in supply chain software affect the future for leaders?
In this special edition article, LeanDNA CEO Richard Lebovitz joins in a conversation with the Supply Chain Management Review to answer these questions and more. “Over the last 20 years, we’ve seen companies go from being very vertically integrated (e.g., a manufacturer made the steel and then assembled and handled all of the machining for its products), to working with hundreds and even thousands of suppliers around the globe,” says Lebovitz. “This move toward less ‘localized’ factories will continue as more companies work ‘virtually’ with one another.”
The article goes on to explore how new technology:
- Predicts and addresses changing variables ahead of time
- Automates many aspects of the procurement process
- Provides high-level visibility both in- and outside the organization’s walls