Max HenryFounder & Executive Director, Global Supply Chain Council (GSCC) · Founder & Executive Director at Global Supply Chain Council (GSCC)

Unlocking the Power of AI and Machine Learning for Business Planning

22 Feb 2024 · 1 min

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In this panel excerpt, Speaker A emphasizes that while machine learning has long supported robust sales and operational planning, the success of AI initiatives hinges on data quality. Poor data leads to poor outcomes. With the rise of generative AI, organizations can now enhance demand sensing by leveraging point‑of‑sale (POS) data and incorporate supplier information to enable more collaborative business planning. The speaker underscores the need to ensure high‑quality data before embarking on AI/ML projects and highlights emerging opportunities to integrate external data sources for better forecasting and planning.

Chapters

In terms of AI, we already, we have it through, we call it machine learning, has already been there for quite some time in terms of robust sales and operational planning, catering primarily towards demand. I think one of the very key aspects is what is the quality of data we are looking at before we even explore into the journey of AI and machine learning, because if the data are the points that we have are not very good, then the results are going to go pretty much in the same direction. Vis-à-vis, we also have now with the coming of age of generative AI as well as with machine learning, we also can get the demand sensing from the point of sales data. We can also get the information through our suppliers' info, which can help us into a better collaborative business planning. Okay, that's interesting. Yeah, Siva?