Meaning ● AI in Supply Chain, within the SMB landscape, signifies the deployment of artificial intelligence technologies to streamline and optimize supply chain operations. Essentially, this encompasses leveraging AI-powered tools for demand forecasting, inventory management, logistics optimization, and risk mitigation, all tailored to the scale and resources of small and medium-sized businesses. These SMBs leverage these technologies to make more data-driven decisions regarding inventory which lead to overall improved cashflows.
Scope ● For SMB growth, AI facilitates enhanced efficiency and responsiveness, allowing these businesses to compete more effectively. Automation, driven by AI, reduces manual tasks, freeing up valuable time and resources for strategic initiatives, crucial for SMBs with limited staffing. Its successful implementation requires a phased approach, focusing on specific pain points and measurable results, ensuring a tangible return on investment for budget-conscious SMBs. Successfully implementing these features results in improved vendor relationships and improved lead times from their vendors.
