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[ Tue, Dec 10th 2024 ]: abp LIVE
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Will AI Reboot Supply Chains?

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
"Embracing AI is a high priority right now for global supply chain leaders across all industries and all jurisdictions," he continues. In KPMG's 2024 CEO Outlook, which surveyed 1,325 CEOs surveyed worldwide, supply chain disruption was rated a top threat to business growth.
The article from Global Finance Magazine discusses how AI is transforming global supply chains by enhancing efficiency, reducing costs, and navigating regulatory environments. AI applications are being utilized to optimize logistics, predict demand, manage inventory, and automate various processes, thereby reducing human error and operational costs. For instance, AI-driven systems help in real-time tracking of shipments, predicting delays, and dynamically adjusting routes to avoid disruptions. Moreover, AI aids in compliance with international trade regulations by automating documentation and ensuring adherence to customs procedures, which can be particularly complex and vary widely between countries. The technology also plays a crucial role in reducing shipping costs through better route planning and fuel efficiency, and by minimizing overstocking or stockouts through precise demand forecasting. However, the article also touches on challenges like the need for substantial initial investment, data privacy concerns, and the potential for job displacement, highlighting the need for a balanced approach in AI integration into supply chain management.

Read the Full Global Finance Article at:
[ https://gfmag.com/technology/ai-reboot-global-supply-chains-shipping-costs-regulation/ ]