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5 Ways to Harness the Power of ChatGPT in the Supply Chain

By April 13, 2023Blog

Hearing a lot about OpenAI recently?

OpenAI created the artificially intelligent language model known as ChatGPT. ChatGPT is an AI-supported chatbot that helps users generate content by producing human-like responses to queries in natural language. It gives business users the ability to automate dialogue and scenario management and provides a personalized and efficient experience.

ChatGPT – Revolutionizing the Supply Chain

IDC, a premier global market intelligence firm, predicted that in 2023, the use of AI will increase forecast accuracy by 5%. Perhaps ChatGPT will play a role as an AI-powered forecast supplement tool. Just its ability to facilitate superior communication between stakeholders eases the visibility and transparency that is much sought after in complex supply chains.

While AI-trained models and systems have a multitude of supply chain applications, I think these are the top five ways businesses can harness the power of ChatGPT in supply chains:

1

Data Analytics and Forecasting – ChatGPT systems can quickly process large amounts of data to help support pattern identification, trend recognition and, in turn, supplement decision-making.

2

Route Optimization – ChatGPT systems can efficiently manage various scenarios and optimize delivery routes, helping to increase delivery flexibility and reduce associated costs.

3

Sustainable Supply Chains – ChatGPT can accelerate supply chain mapping and identify risks and opportunities in the value chain. It can also weigh suppliers on sustainable criteria to help drive ‘green’ supplier selection.

4

Predictive Maintenance – ChatGPT systems can process data to allow for proactive maintenance of machines by predicting the likelihood of failure.

5

Chatbot – ChatGPT is already surfacing as an enterprise chatbot to produce data and content, and position business users to make informed decisions.

The Need for Clean Data

ChatGPT is democratizing information, and APIs are now being made available to developers to test the capabilities and create systems that offer unlimited potential.

However, Gartner research shows that availability of high-quality, accurate data in the supply chain is the foremost obstacle to these AI-powered, revolutionary digital transformation initiatives. Gartner Hype Cycle predicts that, since supply chain models are so complex and often company or industry-specific, generative AI in the mainstream application is still 10 years away (versus two years for non-supply chain applications).

Regardless, that’s where we’re headed as an industry, and having clean and accurate data is becoming business-critical – because only quality data will produce quality AI-generated results. To make the best use of new generative AI tools like ChatGPT, or effectively leverage other AI and Analytics Solutions, businesses must prioritize data management initiatives.

Bristlecone provides a transformative data management and digital supply chain approach that enables end-to-end, data-driven visibility, empowers employees, and builds a strategic foundation that can support current and future technological advancements.

Ready to harness the power of AI in your supply chain?
Contact us to schedule an introductory meeting with one of our experts.

MANISH KUMAR
Senior Consultant, Business Consulting
Bristlecone

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