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Managing Risk in the Supply Chain with AI

August 7, 2020

Via: CIO

Given the global upheaval that COVID-19 has triggered, managing supply chain risk is top of mind for everyone. Improving forecast accuracy to lower risk is the sweet spot for machine learning (ML) applications in supply chains.

ML is an AI application that looks for patterns, trends, and anomalies in data, the quality and accuracy of which automatically improves with experience of the system. Specifically, ML algorithms built into supply chain management platforms enable predictive risk management that accounts for unknown factors, which is critical to maintaining the continuous flow of goods through the supply chain.

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