Understanding AI and Demand Forecasting in Supply Chain
About The Episode
In this episode of “Decoding the Digital Industrial Revolution,” host Arvind Sarin interviews Rahul Gangulee, the Chief Supply Chain Officer at Tricord International. Rahul shares insights on how Tricord International supports small to mid-sized enterprises (SMEs) by leveraging best practices in supply chain management to help these businesses overcome challenges in profitability, funding, and technology access. He discusses the role of artificial intelligence in cost modeling and demand forecasting, emphasizing its potential to revolutionize supply chain efficiency and transparency. Rahul also highlights the importance of robust partner selection, effective communication, and inventory management in creating a resilient supply network. Additionally, he explores the impact of emerging technologies, such as 3D printing and AI integration in ERP systems, on sustainability and operational efficiency. For a deeper dive into Rahul’s insights and to explore how these strategies can transform your supply chain operations, watch the entire podcast episode now!
Key
Takeaway
AI enhances cost modeling and demand forecasting, driving efficiency in supply chains.
Effective risk management involves assessing risks such as geopolitical, cost, and capacity and formulating strategies accordingly.
Emerging technologies like 3D printing and advanced ERP systems significantly improve sustainability and operational efficiency.
Supporting SMEs with best practices and technology enables them to compete globally and grow sustainably.
Streaming On
Digital Industrial Revolution
Decoded
Empowering SMEs with Advanced Supply Chain Solutions Small to mid-sized enterprises (SMEs) are crucial for global GDP and often struggle with profitability, access to funding, and technology. By leveraging best practices in supply chain management, SMEs can gain the tools and capabilities that larger companies use to thrive.
Utilizing AI for Cost Modeling and Demand Forecasting Artificial intelligence (AI) has proven invaluable for developing accurate cost models and enhancing demand forecasting. By pooling data and utilizing computational capabilities, AI helps businesses create more precise cost structures and anticipate demand more effectively.
Enhancing Supply Chain Visibility and Transparency Visibility in transportation management systems (TMS) is vital for efficient supply chains. Advanced TMS solutions provide real-time tracking and transparency, allowing businesses to plan production and manage logistics with greater accuracy.
Managing Geopolitical and Operational Risks Identifying and managing various risks, such as geopolitical, cost, compliance, and capacity risks, is essential for robust supply chain strategies. Developing risk appetite bands and formulating strategies to mitigate these risks, like diversifying suppliers, helps ensure operational stability.
Embracing Sustainability through Innovation Innovative practices like 3D printing and efficient inventory management contribute to sustainability in supply chains. By reducing waste and optimizing processes, businesses can achieve more sustainable operations and reduce their environmental footprint.
Agile Supply Chain Strategies for Rapid Adaptation Agility in supply chain strategies, facilitated by robust partnerships and effective communication, helps businesses adapt quickly to changing market demands and mitigate inventory burdens.
Explore how demand forecasting can revolutionize your supply chain operations.
Rahul Gangulee is a seasoned executive with over 20 years of experience in global supply chain and operations management. His track record includes driving significant growth, reducing costs, and enhancing operational efficiency across diverse industries such as industrial products, pharmaceuticals, and startups. Rahul has navigated both Fortune 50 companies like Merck and startups like Tricord International, where he secured $3M in investor funding and generated $2.5M in revenue through a new consulting service. His expertise extends to implementing successful projects like expanding vaccine production to capture $250M in incremental revenue at Merck and improving contract spending efficiency from 85% to 100% through innovative negotiation strategies. Currently, he serves as Chief Supply Chain Officer at Tricord International and is an Executive Member of the International LEAP Network, demonstrating his commitment to advancing global supply chain excellence.
About The Host
Arvind Sarin, the CEO and Chairman of Copper Digital, is not just a visionary leader but also an avid travel enthusiast. He holds an MBA from The University of Texas at Austin, bringing a strong academic foundation to his illustrious career. With over 14 years of expertise in digital transformation, Arvind has led Copper Digital to remarkable success, creating over 1200 digital solutions and guiding 700+ enterprises through transformative journeys. Beyond business, his passion for exploration has taken him to more than 46 countries, fostering a global perspective that infuses creativity and adaptability into his leadership style.