AIoT in Supply Chain Planning
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Key Takeaways
⇨ Supply chain planning challenges are increasing because of increasing complexities of supply chain networks.
⇨ AIoT has the potential to bring significant transformation in supply chain planning processes.
⇨ SAP and third-party vendors have already started incorporating AIoT based solutions in their offerings portfolio.
Internet of things (IoT) devices are now being used in most major supply chains in some forms, at various scales. These devices leverage the internet to collect and exchange data about supply chain activities. Cisco estimates that by 2025, there will be 42 billion IoT devices in use globally. Cisco also estimates that IoT devices are already generating 5 quintillion data daily. And as the number of these devices in use multiplies, so will the associated data volume. That is where AI comes into play, helping organizations leverage the data being captured by these devices in optimal ways. These combined technologies constitute AIoT (“Artificial Intelligence of Things”).This article discusses what AIoT stands for, the critical role of AIoT in supply chain planning, and areas of applications within supply chain planning.
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