In a recent study by Epicor and Nucleus Research, findings highlight a rapid adoption of artificial intelligence (AI) and machine learning (ML) among high-growth supply chain businesses. The 2024 Agility Index survey, encompassing over 1,700 supply chain leaders globally, underscores escalating costs as a primary concern for nearly half of respondents across industries involved in production, logistics, and retail.
Key insights reveal that 63 percent of high-growth companies, characterized by revenue growth exceeding 20 percent over three years, have already integrated generative AI into their supply chain operations. This integration aims to tackle operational challenges and manage costs effectively.
Vaibhav Vohra, Chief Product and Technology Officer at Epicor, emphasized, “The adoption of AI and automation technologies is pivotal in enabling agility within supply chain operations, empowering businesses to adapt swiftly to market shifts and enhance customer service.”
The study identifies generative AI’s deployment across diverse functions such as customer service chatbots and product description generation. Notably, 72 percent of organizations leverage AI-powered chatbots to streamline customer interactions, while 67 percent utilize AI for crafting product descriptions, enhancing market responsiveness.
Moreover, machine learning plays a crucial role in optimizing inventory (45 percent adoption) and forecasting demand (40 percent), highlighting its significance in maintaining operational efficiency and meeting consumer demands.
Respondents anticipate substantial benefits from automation technologies, anticipating improvements in efficiency (32 percent), cost savings (26 percent), and enhanced supply chain automation (23 percent).
As supply chain complexities evolve, the integration of AI and ML emerges as a cornerstone for growth-oriented businesses, driving operational excellence and competitive advantage in dynamic market landscapes.
This transformation underscores a strategic shift towards leveraging advanced technologies to foster resilience and innovation across global supply chains.
