The Millennium Alliance’s Post

Name: The Millennium Alliance on LinkedIn: #millenniumlive
Uploaded: 2024-11-26T17:45:00.110Z
Duration: 2 min 8 s
Channel: The Millennium Alliance

The Millennium Alliance

17,841 followers

1mo

🎧 Tune in to this week’s #MillenniumLive, where we’re joined by Madhav Durbha, Group Vice President of Industry Strategy at RELEX Solutions. In this episode, we explore the evolution of AI and its profound impact on the future of work, particularly in supply chains. Dr. Durbha shares his insights on AI’s growing influence, the challenges businesses face, and how companies can effectively adopt AI while addressing workforce implications and common misconceptions. Don’t miss this engaging conversation! Click here to listen to the full episode: https://lnkd.in/gQ_8THaj

Transcript

For the longest time, supply chain planning is viewed as something where you make a plan, you throw it over the fence and hope and pray that the execution happens. Oftentimes, it's very open loop. You're not taking advantage of the fact that you plan something and then you execute it against that plan. What kind of learning came out of that? Did my execution plan out exactly as I planned, or were there deviations? If there were deviations, why did the deviations occur, for example? You know I make a replenishment plan to my downstream locations whether these are my distribution centers of that these are my stores. I may have stock UPS. You know after I make my plans and release them, I may have stock outs and understanding why the stockouts have happened. Is it because I under forecasted the demand? Is it because somebody went and manually adjusted the orders that were generated by the system or is it because there is underestimated spoilage that has. Happened, you know, is it because there is scarcity Action Center itself that resulted in starving of the inventory when I go down to the store levels, Being able to understand why your plans did not exactly pan out the way you planned them is a core capability. That's where a closed loop learning kind of a paradigm has got massive, massive advantages. So in fact, these root cause analysis capabilities is something that relax, relax we launched and several of our customers. Adopting such capabilities at this point in time and understanding and course correcting saying ohh, there are these failures that are happening at the execution level, let me go ahead and correct them so that my planning is not running on wrong assumptions. These kind of learning paradigms can be unlocked when you apply techniques like machine learning. You know, of course there is learning important quote learning in the phrase machine learning itself. This is just an example of an unlock that is possible.

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The Millennium Alliance’s Post

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