AI tools like digital twins and blockchain can predict supply chain risks before they happen. Balance storage and ordering costs to avoid losses, and make sure your board formally discusses risk management with clear accountability across the network.
Here we need also to highlight the importance to use the AI tools to improve the forecast accuracy, to anticipate the upcoming risks. And as they— as these tools can analyze vast data and come up with some insights and let's say recommendation. Also, we need to keep in mind the cost of storage and the cost of ordering. If we are going to order a bigger quantity, we need also to make sure that the cost will not bring the business into loss. These 2 points I think we need to keep into consideration. We have great tools of AI, we have digital twin, blockchain, cloud logistics. All these are tools available for us to, to use and to deal with high number of data. And also we need to keep a close eye on what is going on and include the risk management as part of any boarding meeting or top management meeting. We need to spare some slot for risk management discussion. What are the threats available? How we can deal with them? And to assign a clear responsibility to everyone in the network.
