In the past decade, Artificial Intelligence (AI) has come out as something that people use almost every day without even realizing it. Apart from powering a huge number of applications and other digital devices, this technology stands to benefit all industries including supply chain. In fact, many companies have already started benefiting from investing in AI. A report by State of Artificial Intelligence for Enterprises shows that supply chain is one of those areas which will significantly benefit from AI. On the other hand, PwC states that AI could inject up to $15.7 trillion to the global economy by 2030.
Baby formula continues to be scarce throughout the United States as parents scramble to feed their babies amid a supply chain crisis. No product seems to be immune to the supply chain disruption with baby formula being the latest causality amplified by the covid-19 pandemic, historic inflation and numerous recalls. With no end in sight, parents are becoming desperate as store shelves lay empty throughout the country. "Unfortunately, given the unprecedented amount of volatility to the category, we anticipate baby formula to continue to be one of the most affected products in the market,” Datasembly CEO Ben Reich advised.
The logistics and supply chain industry is fast embracing technology in its quest to keep up with the trends in the digital age. With the fast pace of technology, businesses must move with speed to advance and become competitive. Technologies like machine learning (ML), artificial intelligence (AI), blockchain, supply chain integration and the internet of things (IoT) are proving useful in this quest because they will ensure you lead the race. Here are some logistics trends you need to watch this year.
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