Stock optimization is an important KPI in supply chain businesses since it translates to cash flow directly. On the one hand, constantly high stock levels (overstocking) indicate that money spent on stock is money not spent on potential growth while on the other hand, low stock levels (frequent stock-out events) indicate that money might be getting lost on missed sales.
Some describe AI as a new generation of software that can make decisions, learn and advance on its own, without human intervention. AI technologies can do things the human brain cannot foresee, and this is where many see the greatest potential of this technology – to go beyond human reasoning. On the other hand, the belief that technology alone is enough, is one of the reasons most AI projects fail. Real benefits only come when AI results are combined with human experience and decisions.
Stock-out or overstock – can you relate? Modern buyers are spoiled. They want everything, right now and if possible, delivered to their home addresses. On the other side of this we can find quite complex operations and supply chains which make it all possible, and which allow you to receive something from Amazon in under 2 hours if you are a member of Amazon Prime (with some restrictions which are less important to this story).
Manufacturing companies that sell devices and gadgets to consumers and businesses and many other service companies, such as telcos, are increasingly aware of how critical great customer service is. Recent studies have shown that companies that ignore customer service will lose their market share, while those who focus on it will increase their margins by up to 35% (PA Consulting).
When we think of the coronavirus, most of us are initially concerned with our health and our holiday plans. But another area critically impacted by the virus is business. Not least because of the limitations the virus is putting on our ability to travel. As many industries rely on the knowledge of specialists who travel to locations all over the globe to assist for instance local technicians, the inability to travel presents a legitimate threat to these companies.
Services powered by artificial intelligence (AI) have already disrupted various businesses, and the hospitality industry is catching up quickly. Early advances in technology enabled travel and accommodation arrangements to be made literally in the palm of your hand, making any destination easily reachable.
The post-digital age
is in front of us. In order to compete and be singled out in the post-digital
age, companies need to adopt a set of new technologies that are just now emerging.
These new technologies will be extremely important drivers of change in
business, even in industries where digital tools are already abundant. Why is this
so? The reason is that new technologies are continuously evolving and providing
new opportunities for business improvement.
We were happy to host many speakers, customers, partners and other business associates at Adacta Day 2019: Intelligent Business in Ljubljana last Friday, 25 October.
We discussed many topics and focused on disruptive and upcoming technologies, their impact on the future of business and, of course, the impact these technologies will have on people.
Mozgalo, the first and the only student competition in the deep analysis of large amounts of data and the creation of a Big Data solutions took place in Zagreb, Croatia.
you ever wished that you could empower everyone in your organisation to gain a