Cognitive Supply Chain Management for E-commerce

Cognitive Supply Chain Management for E-commerce

Cognitive Supply Chain Management for E-commerce

E-commerce business owners have currently been focusing on improving delivery times and to reduce the Customer Order to Delivery Cycle as seamless as possible but with the dependency of creating a robust supply chain management solution to overcome excess process times and also having a bearing on operational efficiency as well which can benefit the competitive edge for the business owners as a whole. But other crucial factors like unpredictable demand, varying array of the SKUs being added or managed, automating repetitive processes in the supply chain line using RPA (Robotic Process Automation) along with faster decision making to match and meet growing Customer demands. Cognitive supply chain management using machine learning and self-learning algorithms assist in predicting real-time Customer demands. Even the algorithms have evolved with an error factor reducing as much as 20% based on a Mckinsey’s study leading to more accurate forecasting of the demand. Complex algorithms also do consider varying factors like weather, seasonal cycles to leverage intelligence and product optimization. Some key features of adopting Cognitive Supply Chain Management include Smart Procurement for managing automated procurement, Video based intelligence on Inventory to keep a check on the inventory level, an intuitive order management system, improving work lifestyle of employees based on measurement of satisfaction level on an hourly basis, digital clearance of payments like bills getting cleared through software based assessment and also security management to detect fraud activity. Cognitive supply chain management systems in short can predict the future stock and demand and provide inputs for sensible decisions. The cognitive techniques shine most in case of processing Multi-Channel Data efficiently and with good accuracy based on an algorithmic architecture with countless business functions and communication. With the traditional supply chain becoming obsolete modern supply chain systems are incorporating Cognitive Intelligence to stay competitive and flourish in the business effectively. This also brings changes in the physical infrastructure of the operations as well which will stop the ‘Stage Gate’ approach where every gate has a manager to check the goods, this will all be automated as well. The key to Cognitive intelligence is leveraging the data already present in the business and imbibe mechanics for collection of real-time data to analyze decision making. These efforts in turn benefits in Customer Satisfaction through accurate targeted marketing, being prepared of sudden demand rise and also a way to evolve the business through meaningful decisions.