October 20, 2021 | Divya Khare

Supply Chain Twin: Building Resilient, Adaptable and Intelligent Supply chain

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Introduction

The supply chain disruption that started in 2021 has now escalated due to the recovery of the economy, a shortage of skilled workers, and an overstressed transportation system. This phenomenon has accelerated the adoption of the Supply Chain Twin as enterprises are responding to the pandemic. 

According to McKinsey, 61% of executives report decreased costs, and 53% report increased revenues as a direct result of introducing AI into their supply chains. Lower inventory-carrying costs, inventory reductions of up to 75%, and lower transportation and labor costs are among the biggest areas of savings. AI can help companies predict the future needs of raw materials and components, and it can also help them manage their work-in-progress and final product demands. 

Know more about the Supply Chain Twin

A supply chain twin works as a digital twin for a Supply Chain that provides a bird’s eye view of the connected operations, which enable users to analyze, evaluate and react to unexpected disruptions in real-time. It is also used to visualize and analyze supply chain data. The challenge for companies is to make their supply chains resilient enough to withstand the impact of a pandemic without weakening their competitive advantage.

                                                                                                                                                                                                                                             Source: anyLogistix

Supply chains have become substantially more challenging to manage. Supply chain visibility is the key enabler of managing a business, both within and beyond the organization’s boundaries. This visibility allows the management of a supply chain to achieve a competitive advantage. The complexity of the supply chain and its increasing complexity are driving the need for supply chain visibility. The concept of Supply Chain Twin aims to measure and control the overall supply chain’s effectiveness with resiliency, agility, and intelligence.

With the availability of AI-based solutions, companies can now achieve next-level performance in their supply-chain management. These solutions help improve planning and execution, and they can help minimize manual work and improve efficiency. The right solution is critical to successfully manage the complexity of today’s supply chain. It should be designed to work seamlessly with the organization’s strategy and should also fit well with the existing processes. 

Through the use of technology, supply-chain operations can be more streamlined and effective, without the need for additional workers or resources. This is evidenced by the emergence of artificial intelligence (AI) as a key component of the supply chain process. AI-capable machines can learn to perform tasks in a manner similar to that of humans. They can learn to respond to various conditions and solve various problems in unexpected ways. 

Pluto7: One stop place for all your Supply Chain needs

A digital replica of your entire supply chain network offers potentially massive benefits and, at the same time, new platforms and ecosystems like Pluto7’s make Supply Chain Twin capabilities affordable and easy to access. 

Pluto7’s AI-powered Supply Chain Twin Solution integrates and orchestrates the day-to-day operations of your supply chain with end-to-end visibility, connecting internal and external data systems, as well as an integrated data model that enables the analytics and AI engine to harness the full power of the intelligent supply chain. It also includes a consumption layer designed to improve decision-making across supply chain operations. 

With Pluto7’s Supply Chain Twin, you can use their data to improve operations and make your supply chain operations more intelligent by enabling a better, more seamless, and resilient supply chain experience for their customers.

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