Analytics in Supply Chain Management Becomes Central As Coronavirus Escalates

From shortages of personal protective equipment to a variety of grocery items to electronics and apparel, coronavirus (COVID-19) has hit the global supply chain in expected and unforeseen ways, and it seems likely that it could take many months to recover. Bouncing back more quickly, said experts, will require supply chain managers to turn to new ways of managing the supply chain, including using Internet of Things (IoT) data, analytics and machine learning (ML). These tools will become the foundation on which supply chain managers gain insight into their markets and erratic supply and demand trends. "Having the right machine learning and AI technologies will help you understand the market and better manage your supply chain," said George Bailey, director of the Digital Supply Chain Institute. While the disruption is now global, its starting point was in China -- the 800-pound gorilla in global production.