Global Supply Chain Crisis
“Global Challenge that will only get solved by Global Solutions."
What happened to our Supply Chain?
What items are in most short supply?
• Shortage of Chips, Rare Earths, Foods, Labors
• Steel, electronic components, logistics costs (increasing product prices to ease cost pressure)
• New energy vehicle development: nickel, copper, lithium, tin
• Cost of Cargo Containers, the astronomical rise in shipping rates, The clogging of containers in port yards, the shortage of wooden pallets, the dearth of truck drivers, and the constraints on warehousing capacity
• The major ports of LA and LB, Suez Canal, Yantian problems
Global Supply Chain Risk?
Consumer behavior Shift to Online Buying
• Political Unrest, Racial Tensions and Government Changes
• Economic Instability and Recession
• Extreme Weather Events (Climate Change)
• Environmental Risks
• Data Integrity and Quality
• Supplier Consistency
• Transport Loss
• Coronavirus Outbreak
• Diminished Brand Loyalty
How to adjust?
• The utilization of artificial intelligence (AI) and digitalization in logistics operations in China versus the U.S.—is a key source of the current problems observed.
• Strive for end-to-end visibility
• With open discussions, all parties can tackle issues that impact pricing, quality, and competitiveness
• Improve partner collaboration. (Effective collaboration with partners is critical to supply chain resiliency, early sharing of forecasts and orders is a best practice）
• Diversify your supply sources（ diversification strategies help lessen risk，avoid all your “eggs in one basket” ）
• Build more trust into supply chain processes.
Experiment with agile, creative solutions:
• Understand the Customer Experience (CX) is a direct reflection of Employee Experience (EX) and redesign the business and operations accordingly.
• Deepening investments in emerging technologies like Artificial Intelligence (AI) to unify people, process, and technology to emerge from the pandemic smarter and more resilient. Embracing new ways of working to adapt to rapid changes in the employee and customer cultures.
• Focus on moving beyond stabilization. Design and deploy responsive processes and platforms to improve the employee and customer experience, which builds resilient businesses
COVID-19 has increased the demand for data, insights, and AI across the business.
• Service -Increased demand for AI-driven next-best action and knowledge assistance
• Marketers -Increased demand for AI for analytics & reporting on customer behavior and target markets
• IT and DevOps -Increased demand for data-driven decision-making tools
• Sellers - Increased demand for data insights of customers’ propensity to buy
Top AI use deliver insights and productivity:
• Service Cloud:
• AI assistants, Incident routing, Case deflection, Self-service workflows to improve service and lower costs
• Sales Cloud:
• Market intelligence, Key opportunity alerts, Prospect targeting and lead management workflows to attract customers faster and lower costs.
• Marketing and Commerce Cloud:
• Analytics and reporting, Social media listening, Email personalization, Order management, Inventory tracking, Product recommendation, Improve conversions, Increase operational efficiency, Product recommendations, Personalized product assortments, and demand forecasting
• IT Cross-Cloud
• Risk management, System performance, Maintain security, Align work to business priorities
Human-centered design requires specific skills and facilitation expertise
With experienced partners to assist in-house teams
74%of respondent organizations outsource design
26% of respondent organizations use in-house design only
26% focus primarily on designing customer experiences (CX)
23% focus primarily on designing employee experiences (EX)
51% focus on both
Focusing on User-Centric design
Human-centered AI creates new business value
AI demonstrates immense value for businesses, helping them grow and gain a competitive advantage during COVID-19. The best organizations invest in enterprise AI platforms that can keep employees and customers informed and connected in their remote, digital-first lives.
Successful AI assistant implementation:
• Start small
• Start with use case categories to find intent clusters you want to address first.
• Launch early
• Choose one area or use case where you think you can make an impact and launch before you think you’re ready.
• Customers interact with AI assistants in very different ways than with humans or web self-service; the only way to gather this data is to launch and learn.
• Fix continuously
• Once you gather data you can evolve your AI assistant accordingly.
• See what kinds of intents, questions are asked and how.
• As you evolve an AI assistant’s capability, its personality can evolve and align with your brand.
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InnoGlobal Business Consulting