Artificial Intelligence Consulting Services

Artificial Intelligence: Redefining the Supply Chain

The supply chains of most of today’s enterprises are built on archaic technologies that are over 20 years old. They are beset with inefficiencies like lack of end-to-end visibility, real-time response, and efficient data sharing among participants.

Conventional supply chain organizations operate in silos and emphasize the optimization of a specific segment of the supply chain rather than the entire value chain. Thus, these organizations need to redefine their operations to break silos, achieve end-to-end visibility, and craft a better collaboration model.

Artificial Intelligence (AI) has great potential to help supply chain organizations overcome challenges with traditional processes and bring profound, positive changes across the supply chain. As enterprises are realizing the importance of AI, the demand for Artificial Intelligence consulting services is increasing.

How can AI drive supply chain transformation?

Supply chain organizations can put data at the core of their operations to chart a path for new processes and capabilities. Artificial Intelligence is poised to drive the revolutionary shift in the following ways:

  • End-to-end visibility

Artificial Intelligence can help organizations manage supply chain complexity. The technology can empower businesses to capture, process, and use structured and unstructured data to gain real-time visibility. Supply chain organizations can harness the power of AI to centralize data and decision-making.

  • New performance engine

Artificial Intelligence enables powerful resolution engines based on real-time analysis to automate supply chain functions and optimize transactions. AI can process data in large quantities to enable real-time supply chain management modeling. When a change occurs, the engine can determine the impact of the change on key performance indicators and make instant, well-informed decisions to achieve business outcomes.

  • Agile decision-making

The current supply chain activities are carried out manually. The integration of AI into the existing supply chain process can create models that are data-driven, collaborative, and platform-based. Participants can share real-time data and qualitative information across the supply chain and review reports and discuss implications. Enterprises that wish to harness the potential of AI can leverage digital transformation consultancy service to identify the use-cases and implement the solution.

  • Better performance management

Ingenious analytics redefines how the performance is gauged and managed. Apart from tracking conventional functional metrics, supply chain organizations can analyze the impact on their business outcomes. They can leverage predictive scenario modeling to assess the business impact of various options, such as missed supplier shipments, promotional campaigns, or corrective plans.

Take Away

Enterprises that integrate Artificial Intelligence into their operations and ride the transformational shift are sure to leverage benefits like complete visibility across the supply chain, better collaboration model, real-time resolution of issues, and ability to deliver on consumer requirements with speed, efficiency, and accuracy.

Millennial Partners offers mission-driven Artificial intelligence consulting services to help global businesses with AI integration. We follow a coherent roadmap to drive your AI development journey and fuel your business growth.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. Our digital transformation roadmaps include incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out on our e-mail at info@millennial.ae

3 P’s of Digital Transformation

The Three P’s Driving Digital Transformation

Digitalization is transforming enterprises. According to Gartner, 87% of senior corporate leaders believe digitalization is a company priority and 78% of corporate strategists say that digitalization is transforming their business – paving the way for new revenue streams.

But how can enterprises embark on the digital transformation journey? The answer lies in simply following the three P’s of digital transformation.

  • People

Successful digital transformation is all about people. For an enterprise to digitize, its people need to transform in the first place. People need to go through self-assessment and determine how the changes will affect them.

Simultaneously, enterprises should be charged with roping in the right people with the right skill sets. They need to clearly define the roles that people will play in the transformation process. Without the right people, digital transformation will merely be a siloed initiative.

Enterprises can always seek digital transformation consultancy service to chart the path for successful digital transformation.

  • Products

The present-day products strive to be a perfect combination of a product and an excellent user experience. Enterprises need to know what impact digital transformation will have on their product and experience. Once this is determined, it is crucial to embrace the right technology to drive digital transformation. Today’s enterprises are readily adopting ingenious technologies like Blockchain, Artificial Intelligence and the Internet of Things (IoT) to ride the next wave of digital business.

Next, how can enterprises gauge success? Digital transformation requires considerable investment in people, technology, and products, so what is the ideal way to measure success? Many believe revenue is the right parameter to measure the value of digital transformation to a business; however, the most crucial performance metric is customer experience – what impact did digital transformation have on customer experience, which leads to increased customer retention and revenue.

  • Processes

Digital transformation should happen across the enterprise, but the ideal way is to start small. Begin where the transformation can have the biggest impact and amplify the chances of success. A reliable digital transformation consultancy service can help identify the right use-cases and implement the chosen solution. Small successes are better than a big strategy with a high degree of risk. For example, AI-powered bots are still in their nascent stage but enterprises are adopting them to leverage the benefits that they offer, such as reduced customer costs and accelerated response times.

The process employed by enterprises to steer digital transformation should be diligently complemented with the right technology.

Take away

Digital transformation is an amalgamation of three P’s that together reinvent the way enterprises operate. Technologies like Blockchain and Artificial Intelligence are moving so quickly that if enterprises do not start looking into it now, they are more likely to fall behind the competition.

At Millennial Partners, we offer mission-driven digital transformation strategy consulting servicesto help enterprises navigate to the next wave of digital business. We harness our technical prowess and experience to devise a coherent roadmap to help enterprises capitalize on the digital transformation opportunity.