AI and NLP in Supply Chain

Our discussion takes us to talking about NLP in Supply Chain. In the general or traditional view of supply chain especially in a global supply chain, is the normal way of operations where you’re applying as much automation or insight or trying to get insight into since you’re looking for some version of predictability.

So as you can imagine, when COVID hit a lot of businesses went to almost zero production, which disrupted a large amount of the supply chain of the world.

With all of these situations, business owners become more aware of the vulnerabilities that companies are exposed to, one of the biggest concerns being planning and supplier network, especially with prominent players. They start focusing on some other factors, some of which are around transportation and logistics, not only they’re doing tracking which the end consumer always sees but even something as small as route optimization, which can lead to huge fuel savings and a lot less maintenance.

Being aware of your financial situation, having organized and structured leads to the ability to simulate scenarios quite nicely because it’s fundamental to have a clear idea of what happens today and in the future. These scenarios also help you to calculate the risk, measuring and forecasting is another way where AI and machine learning really shine.

If you’re able to quantify what risk is because you do have all this data and it’s all very structured, it allows your business to get to a place where having seen risky things come to fruition in the past, you can model them into the future.

Customer service is also a big challenge for most companies due to the problems associated with it, the misinformation, the pressure, the need for an immediate response, among other factors. There are ways to impact those people and help them be better customer service reps, that’s often through scripting and imagining a scenario where you’re able to understand the entire ecosystem of your company and its product at the same moment so that you can easily and poignantly get to what the issue might be.

That’s where a system such as our Apogee with our chatbot Mensa shines really well.

Mensa, which is our chatbot, has to input all the possible ways that you’re going to have the conversation with it, you basically add a lot of information about your product.

Imagine giving a new hire a lot of your reading about the product, product management, your FAQ’s and it creates a brain for itself and can answer just about any question about your product, your service, and what’s going on automatically, without you having to basically seed it with a ton of information.

Let’s cut through the jargon, myths and nebulous world of data, machine learning and AI. Each week we’ll be unpacking topics related to the world of data and AI with the awarding winning founders of 1000ML. Whether you’re in the data world already or looking to learn more about it, this podcast is for you.