Supply Chain and Logistics Considerations During and After COVID-19
The inability to congregate in groups, along with factories being shut down, retail stores being closed, increased demands for certain items, and business models shifting and changing, are creating profound impacts on supply chains everywhere.
What started as a supply chain shock, quickly inverted into a demand shock as quarantines took place and consumers not only could not spend money but opted for liquidity in light of the economic uncertainty. As of May 2020, over 35 Million jobless claims had been filed in the United States alone, this has a dramatic impact on what the consumption demand will be and subsequently, supply chains.
What AI and Machine Learning Can Do:
What many companies with deep supply chain dependencies or that are supply chain centric are learning is that the business environment may never be the same and companies need to prepare for the long haul and start to figure out innovative methods of adapting their businesses to a changing world. To do this they are looking to apply Artificial Intelligence and machine learning to a few core areas, such as:
- Demand optimization
- Inventory management
- Network optimization models
- Catastrophe modeling
- Advanced network analysis
Leverage a Demand Sensing App to Get Back on Track
These are unprecedented times. It is imperative that supply chains adapt through adoption of technological innovations such as AI to build faster, more efficient, agile, and resilient businesses. It is precisely this reason that we developed the Demand Sensing application alongside our supply chain & retail partners to become more responsive to events like COVID-19. This is one in a new set of AI apps that we’ve developed by combining the H2O Q and H2O Driverless AI platforms together to bring automated insights and automated machine learning to a number of business problems that span industries and use cases.
To learn more watch “Getting Your Supply Chain Back on Track with AI” and read “Supply Chain and Logistics Considerations During and After COVID-19” or contact us to schedule a demo.