AI in the supply chain market is estimated to reach $10 billion by 2025.
is designed for the regulated nancial services industry. The Provenance Blockchain Foundation supports the development and growth of Provenance Blockchain, working to steer the blockchain toward developing, enabling, and securing a robust environment for global digital nancial-asset use cases. “Trade nance, which traditionally relies on paper or outdated centralized infrastructure, remains a constant thorn in the side of a rapidly changing and complex global trade sector,” explains Dan Garzia, CMO of the Provenance Blockchain Foundation. By contrast, he says, blockchain technology enables immutable transparency, which reduces administrative overhead and settlement times through elements such as smart contracts and Markers (smart contract capabilities engineered directly into the blockchain protocol), and offers real-time tracking. Public blockchains such as Provenance offer bene ts for data privacy and data security, as well, including decentralization (improving data’s resistance to hacking and data breaches), transparency (improving audits and data tracking), and cryptography (protecting data from being accessed or altered without permission). Healthcare providers, for example, can better manage patient records and clinical trials data securely and privately. CONTINUED ON PAGE 174
SOURCE: ZIPDO
For example, users no longer need to leave their workspace or toggle between multiple tabs to act on insights. These capabilities enable supply chain teams to mitigate potential disruptions rapidly. Most importantly, Microsoft says, it will guide teams on how to execute with step-by-step conversational help and enhance their user experience. “Generative AI and Microsoft Copilot have opened the door for us to reimagine how workers and employees engage with their everyday tools and work ows,” says Georg Glantschnig, vice president of the Dynamics 365 ERP portfolio at Microsoft. “Empowering supply chain workers is no longer just about building new workspaces to work from—like control towers or command centers— but rather about how we surface relevant information and enable quicker decision-making in the ow of work,” Glantschnig says. BLOCKCHAIN Blockchain as Digital Provenance? Measured by nancial assets under administration, Provenance is the largest public blockchain in the world. Created in 2018, the open source blockchain is part of the Cosmos ecosystem and
“We chose ToolsGroup to accompany us on this journey because the company had the maturity to support our expansion plan, an in-depth understanding of the Latin American marketplace, and a track record of handling similar challenges and product types ef ciently and pro tably,” says Fredy Martinez, regional director of supply chain for Grupo Mercury. By working closely with Grupo Mercury, ToolsGroup can “build a more resilient supply chain that will help them convert growth potential into real-world bene ts,” says Inna Kuznetsova, CEO of ToolsGroup. Microsoft Serves as an AI Copilot Microsoft has long provided supply chain management solutions. Its Dynamics 365 Supply Chain Management suite offers a uni ed view of inventory, manufacturing, service, and logistics functions, and uses predictive analytics to turn data into insights that support strategic decision-making. The company’s newer, AI-powered user experience is known as Copilot for Dynamics 365 Supply Chain Management. Microsoft introduced Copilot capabilities that enable procurement teams to handle purchase order changes in a scalable, ef cient manner and assess the impact of those changes downstream to production and distribution. Microsoft’s AI tool also offers natural language-based conversational help and guidance on next best actions within work ows to improve productivity, collaboration, and performance. 37% of supply chain leaders are either already using AI or planning to deploy it within the next 24 months.
Global household appliance brand Dyson uses an AI- and automation-based technology that aggregates and contextualizes data to help make more eective supply chain, procurement, and product decisions. The solution also enhances visibility and collaboration.
172 Inbound Logistics • January 2024
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