Opportunities & Challenges faced in implementing AI/ML based demand planning solutions

Harish Kumar
Harish Kumar

Director of Supply Chain at House of Spices India

Session Description
Discover the expertise of Harish Kumar, the accomplished Director of Supply Chain at House of Spices India, boasting over 12 years of FMCG sector experience. With a widespread influence across geographies like India, North America, South America, and Africa, Harish has orchestrated successful teams and excelled in planning, strategic sourcing, and inventory management. Armed with an MBA in Supply Chain Management, his passion lies in forging future-ready supply chain systems. At the Supply Chain Digitalization Conference 2023, Harish unveiled insights on “Opportunities & Challenges in AI/ML based demand planning solutions. This blog delves deep into his wisdom, exploring the intricacies of advanced technology integration in demand planning.

Embracing the potential of AI and ML in demand planning introduces a realm of opportunities and challenges that shape the modern supply chain landscape. The market is teeming with a diverse array of AI/ML-based demand planning solutions, each catering to distinct organizational needs. However, the challenge lies in selecting the optimal fit that aligns with an organization’s unique requirements. Striking the right balance between standardized solution packages and customization becomes pivotal, as companies strive to integrate technology seamlessly into their operational workflows.

In industries like food and beverages, where intricate supply chains grapple with high lead times and intricate variables, AI/ML implementation must account for the complexities. These complexities span from perishable goods to seasonal demand fluctuations and shifting consumer preferences. The marriage of AI’s analytical prowess and ML’s pattern recognition capabilities can play a transformative role in refining demand forecasts to synchronize with the industry’s dynamic nature. Though the journey from traditional demand planning to AI/ML-driven solutions requires investment in data integration, model training, and strategic alignment, it holds the promise of revolutionizing supply chain management. This journey, albeit time-consuming, offers the potential to shape a future where supply chains anticipate and cater to consumer demands with unprecedented accuracy and agility.

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