Council Post: Unlocking The Power Of Predictive Analytics With AI

Kevin Beasley, CIO at VAI, oversees the corporation's overall technology strategy. As the supply chain stabilizes, many manufacturers are returning to normal operations with more robust technological capabilities. In fact, nearly half of supply chain leaders increased spending on innovative technologies and systems during the pandemic -- including predictive analytics. Predictive analytics uses statistical algorithms combined with internal and external data to forecast future trends, which enables businesses to optimize inventory, improve delivery times, increase sales and ultimately, reduce operational costs. When paired with artificial intelligence (AI), the insights gleaned from these advanced systems are the key to more accurate and timely forecasting going forward.