Analytics is the heart of data-driven enterprises that rely on mindful and intelligent insights derived by careful data-digging sessions. From the times when manual data derivations and data-driven speculations determined the next strategy, to the times when computing machines took over; one fact that has remained unaltered is – ‘Data is constantly expanding’. It outgrew the scope of human intelligence and perseverance and was tackled by the machines. Then again, the machines had their limits in terms of computing power and resource availability. With the advent of cloud computing, everything became endless and seamless.

Data storage; data analysis; derivation of patterns and decisive factual information that can be used to achieve business deliverables that lie in a profitable spectrum – everything has amplified! However, almost all the major business establishments with data as its fuel still rely on a human integral for many things. Augmented analytics is a phenomenon which incorporates advanced computing technologies such as Machine Learning and Artificial Intelligence.

So basically, in an augmented analytics world, a human analyst is ‘augmenting’ his capabilities by using AI, machine learning and other Big Data technologies and tools. Well, having had developed a basic premise, let us move on to find the benefits and application odds of augmented analytics in the supply chain scenarios.

Understanding the Supply Chain and its Pain Points – An Example

A supply chain is an inter-connected process that generates tangible and intangible end products and comprises of various entities that are crucial for specific stages. These entities can be a person; an organization; a set of activities or some resources. The entities involved in a supply chain vary from industry to industry and across the businesses.

An elementary example can be a food industry supply chain such as KFC. The meat is obtained from the farms that are verified and provide pure-bred chicken. The other people involved are the local supplier; local ingredients manufacturer and supplier; agent for making cartons; beverage partners; sauce and other condiment partners etc. The chicken and many other ingredients travel all over the world and finally lands in your hands! Then, the participants in the offers that release KFC offers today etc.

Though the whole process seems easy and highly systematic; many areas can affect it. The cost of material increases; middle-men profits affect the overall supply; machines used for carton making and printing get old or damaged or employees leaving the office etc. There can be endless scenarios.

AI-based analytics is categorized into two types:

• Augmented Analytics (a combination of both the human an AI talent)
• Automated Analytics (purely automated and AI reliant system)

The business and technology stakeholders claim that for now, the Augmented Analytics is better than the other one. This is because all the business scenarios are currently experiencing digitalization or the digital revolution. There are very few supply chain scenarios that are completely digitalized and can be subjected to automated analytics. Hence, there are many areas such as sales; fulfilment of orders; demand forecast and production planning; that are still handled better with the human intervention. However, to initiate an amalgamation of human and AI resources is crucial to the future-ready growth and development of every supply chain scenario.

Hence, if you are still using the same old tools and human-written codes for data management and supply chain management; you MUST have a good reason for that!!

Supply Chain in the light of Augmented Analytics:

• A supply chain should be infused with robotics; AI; new technologies; and other Big Data tools and technologies on a massive scale to make it future-ready and profit-driving, yet, market-centric.
• An optimized collection of raw materials:

An augmented supply chain comes with a digital collection list. The humans working at the warehouse will have a digital list and digital resources to suggest the best paths; digital calculations for total all work hours and other such things.

• Planning the orders:

In an augmented environment, a supplier is perfectly able to visualize the list of orders; the raw material required for its fulfilment; the ways and sources to do the work and even plan a new facility installation. The cost-cutting and resource planning are optimized; planned comprehensively and sans of any error that might creep owing to human nature to err.

So, if you are a consumer, say thanks to the technology for making it easier for the KFC to working. And, if you are a businessman, start working towards an AI augmented supply chain for your business.
Further, keep enjoying your dishes endlessly with the KFC offers today!