In 2022, McKinsey reported a 20% reduction in inventory and a 10% decrease in supply chain costs for large consumer packaged goods companies attributed to AI.
Laurence Brenig-Jones emphasizes that machine learning's number crunching power drastically enhances accuracy and automation in supply chains, yielding benefits like reduced wastage.
Demand forecasting through AI is notably intricate, as it requires precise predictions for specific products at specific times, an area where machine learning excels.
Overall, the latest reports indicate that companies investing in AI for supply chain management see significant revenue increases, proving AI's crucial role in operational efficiency.
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