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Modern issues demand modern solutions: Coca-Cola deployed AI to boost supply chain procurement

ConsumerGeniuses

ConsumerGeniuses

The director of global analytics, global procurement, and supply chain at Coca-Cola, Brett Fultz, informed that AI and machine learning have become crucial components to boost supply chain management and procurement. He mentioned that AI has the ability to inform decisions in a chaotic business environment and perform a variety of operations. These AI-empowered operations range from the development of scenarios to the development of an AI business model that helps to forecast prices. Kushal Nahata, CEO and co-founder of FarEye (a supply chain management firm that strengthens the AI abilities and visibility for big companies like DHL and Domino’s) said that conventional methods of sourcing systems and procurement brought major success for organisations, but now they have become strained and outdated. Therefore, CPG companies need to adopt modern solutions like AI and machine learning to deal with current supply chain problems.

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