FREMONT, CA: The usage of AI for materials inventory and data management offers businesses a way to handle uptime and inventory costs while eliminating the manual aspect of solving real inventory count. By considering inventory issues to be trivial, the manufacturing firms are tasked with harmonizing or syncing data from separate systems or locations to get an exact count of parts and supplies.
Employees often input only the material data they find important without considering how other divisions, colleagues or facilities reference and search for that same item. ERPs require strict syntax that can be thrown off by typing errors or naming conventions, making the search for material availability difficult. These issues can result in a costly and inaccurate inventory count that threatens supply chain efficiency. Legacy systems can pile on top of one another even without the presence of ERP systems adding to the disparate data.
Organizations are aware of such problems and dedicate teams of data specialists to clean data and eradicate duplicates. This involves costly and time-consuming manual processes and spreadsheet management. Organizations can too hire consulting firms to clean data which is expensive, and the data is often outdated before updates are in place. Industry 4.0’s ability to adjust to and learn from data in real time can make organizations more responsive, proactive and predictive. It facilitates the company to avoid operational downtime and other productivity challenges. AI is an Industry 4.0 technology that can be applied to address materials inventory and data management challenges. There are many ways AI fits the value proposition when used in materials inventory management.
AI-based solutions integrate with ERP and disparate data sources from multiple systems. Different inventory system data should be harmonized after which employees search for the right materials to see their real qualities. AI’s application in data management and materials inventory will result in systems that are more convenient, responsive and capable than ever to help agile supply chains. AI is leveraging data for more strategic, creative opportunities to propel companies forward.