AI Tools: Predict the Future of Your Business

Plus ChatGPT Prompts for Supply Chain Management

Making AI Accessible for All

Unlocking Efficiency with AI-Powered Inventory Management

This week we delve into AI’s use in predictive analysis. Companies are making huge savings by using their existing data to navigate the ups and downs of the market in the most cost-effective ways.

Leading businesses are strategically allocating resources and seizing opportunities for significant savings and growth. They accomplish this by using AI tools to reduce human error while using historical data in creative ways. Let’s take a look.

Today’s Topics

  • 🤖AI Tools for Inventory Management

  • 👷‍♂️ AI Prediction for Supply Chains

  • 🦜 ChatGPT Prompts for Procurement Advice

From the Blog

In our latest blog post we cover how AI inventory tools are changing the logistics of supply chains, with case studies. Did you know that with the right AI tools you can predict sales based off of natural disasters as well as seasonal changes that affect your business? Reduce errors and cut down on lost sales by 65%! Learn more

AI Tools for Inventory Management

  1. Itemery is an AI-powered office inventory management solution that simplifies the process of inventory control and management. With integration options, AI recognition, and easy organization features, Itemery streamlines inventory tracking for businesses. - Learn more

  2. Levity is an AI tool that empowers users to automate everyday tasks, such as email outreach responses, inventory management, survey analysis, and document classification. With Levity, users can harness the power of AI without writing a single line of code. - Learn more

  3. Whautomate is a powerful WhatsApp automation and customer engagement platform that streamlines communication and marketing. Boost your sales and elevate customer experience with a range of cutting-edge features. - Learn more

AI Prediction for Supply Chains

AI-powered tools for inventory and supply change management can make predictions off of data collected for every facet of an organizations structure. All data points are valid and can influence how to navigate sales, logistics and partnerships. Here are some examples:

  • Running Simulations - AI simulations allow organizations to look for best case scenarios in order to optimize for future growth. This ranges from factory floor optimization to supply chain management to new physical spaces and can simulate inventory management processes and issues, saving millions of dollars along the way.

  • Supplier Risk Assessment - AI evaluates suppliers' financial health, performance history, and market conditions to identify potential risks. This proactive approach helps businesses mitigate supply chain disruptions and make informed decisions about sourcing and partnerships.

  • Quality Control and Assurance - AI inspects products using visual recognition (IoT), sensors, and data analytics to identify defects or anomalies in real time. This ensures product quality, minimizes waste, and maintains consistent standards throughout the supply chain.

AI Prompts for Supply Chains

Using AI prompts, business owners can get recommendations for optimizing their own supply chains and for managing logistics. Receive personalized advice by feeding historical data into your AI tool of choice for better decision making. For procurement and supply chain prompts we turn to the advice posted by Adar Hay, CEO of Jiga.

🔮 Analyze which suppliers to send bids to

📥 Input: Past order data
📤 Output: Ideal supplier suggestions

I will give you a list of my past orders and you will tell me which suppliers are ideal for this. I need to source a CNC machined part in Aluminum 2024. Quantity is 50. I need is as soon as possible and don’t care about cost. Who is most likely to do it best?
Here’s a list of my past orders:
[copy/paste from your order management system export

🔮 Analyze bids for a project

📥Input: bids for a project and your preferences
📤Output: ideal bids for your project
If you’ve just sent a complex RFP for bidding, you can use ChatGPT to help you analyze the quotes.

I will give you a list of bids from suppliers on an RFQ. You will advise me who I should go with based on my preferences. [add preferences]
Here’s my list of bids: [copy/paste from your RFQ data export or spreadsheet]

Analyze supplier data to identify risky suppliers

📥 Input: Supplier performance data and preferences
📤 Output: A list of high risk suppliers
Analyzing which suppliers expose you to risk is important. You can leverage AI to help you spot these risks and identify where you need to take action.

I will give you a list of my suppliers, their performance rating, locations, how much we spent with them over the past year and whether they are a single source supplier. You will tell me which suppliers are most risky.

Here’s my supplier list: [copy/paste from your RFQ data export or spreadsheet]

In Closing

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