The global AI in Supply Chain market is anticipated to grow at a CAGR of 38.8% during the forecast period. AI plays a crucial role in assisting businesses in various aspects of supply chain management, such as inventory planning, transportation route optimization, and overall efficiency enhancement. By analyzing historical data and market trends, AI algorithms provide accurate demand forecasts, aiding businesses in reducing excess stock and minimizing carrying costs. These algorithms also continuously monitor inventory levels and automate the reordering process, ensuring consistent product availability.
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Additionally, AI algorithms can optimize transportation routes, considering factors such as traffic, weather, and delivery schedules. This optimization results in reduced transportation costs and improved delivery times. The growing adoption of AI in the supply chain is driven by its ability to automate tasks and decision-making processes, allowing supply chain professionals to focus on more strategic activities. This leads to increased overall efficiency and productivity in the supply chain.
As a response to the rising demand for supply chain management software, market players are introducing innovative products. For instance, in April 2023, Inspectorio launched the first generative AI-driven supply chain management software in the globe. The globe’s generative AI tool powered by ChatGPT, Inspectorio CAPA recommender, enables brands, retailers, suppliers, factories, and other parties manage their supply chains.
Global Artificial Intelligence (AI) in Supply Chain Market Report Segment
By Technology
- Machine Learning (ML)
- Natural Language Processing (NLP)
- Context-Aware Computing
- Computer Vision
By Application
- Fleet Management
- Supply Chain Planning
- Warehouse Management
- Virtual Assistant
- Risk Management
- Freight Brokerage
- Others (Supplier Relationship Management)
By End-User
- Automotive
- Aerospace
- Manufacturing
- Retail
- Healthcare
- Consumer-Packaged Goods
- Food and Beverages
- Others (Chemicals, Hospitality, and Tourism)
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AI in Supply Chain Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Amazon Web Services, Inc.
- FedEx Corp.
- General Electric Co.
- IBM Corp.
- Intel Corp.
- Micron Technology, Inc.
- Microsoft
- NVIDIA Corp.
- Oracle Corp.
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