As the world’s fastest-growing procurement and supply chain event, Procurement & Supply Chain LIVE 2023 was a disruptive learning and networking event that showcased some of the industry’s top speakers across innovation, thought leadership and strategy.
The impact of AI on procurement and supply chains
Speaking on Day 1 of Procurement & Supply Chain LIVE, Tim Lawrence, Digital Supply Chain Director at Digital Catapult began the discussion by introducing the innovation agency and its focus on accelerating the digitisation of the UK economy.
He goes on to highlight five digital technologies that the organisation focuses on - future networks and IoT; artificial intelligence (AI); distributed ledger technologies; immersive technologies; and quantum technologies - and their application in virtual environments, digital infrastructures, and supply chains.
"The Digital Catapult is a UK-funded, government-funded, industry-funded innovation organisation where we're all about accelerating the digitisation of the UK economy by applying advanced digital technologies,” said Lawrence.
Introducing the company’s £25m program aimed at transforming digital supply chains, Lawrence passes over to Hassan Mahmud, Lead AI/ML Technologist at Digital Catapult who delves deep into the concept of AI and its positive applications in the supply chain including; risk and demand forecasting, logistics optimisation, and smarter decision making in supply chain management. He also emphasises the importance of AI in promoting supply chain visibility and collaboration.
"We really are trying to accelerate the adoption of digital across the UK industry, and we're here to help!” said Lawrence.
Lawrence and Mahmud conclude the discussion by presenting specific examples of AI applications in supply chain management, encouraging the audience to engage with the Digital Supply Chain Hub and participate in their initiatives to foster digital transformation in the UK manufacturing sector.
“We are a neutral organisation and we have deep business and technical expertise, we can actually get people together, get the ball rolling, and put the right mechanisms in place. So one of the projects that we're working on in the Digital Supply chain hub is to address this problem of interoperability in the supply chain,” said Mahmud.
To watch any of our other speakers from Procurement & Supply Chain LIVE 2023, click here.
Celebrating exemplary achievements in the fields of procurement and supply chain management, the Supply Chain AWARDS - debuting in 2024 - acknowledges companies, professionals, and projects that demonstrate exceptional performance, innovation, and strategic thinking. Click here, to find out how you can enter.
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