Could AI Prevent the Next Global Supply Chain Crisis?
Feb 16, 2024
14:27
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Flex CEO, Revathi Advaithi, discusses the challenges of managing workforces and supply chains with AI. She shares her outlook on the future of the workplace and manufacturing. Topics include resiliency in supply chains, the impact of EV demand, and the potential of AI in manufacturing.
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Quick takeaways
Skills specific to supply chain resiliency are in high demand, but attracting skilled workers and adapting software systems remain challenging.
AI holds significant promise for improving manufacturing productivity by optimizing working capital deployment, maximizing equipment utilization, and revolutionizing planning across the supply chain.
Deep dives
The Importance of Skills in Supply Chain Resiliency
According to Flex CEO Revathy Advithy, skills specific to supply chain resiliency, such as production planning and software skills, are in high demand. Despite the availability of data and information, attracting skilled workers and adapting software systems remain challenging. Hiring for higher skilled positions is particularly difficult, as many job seekers opt for positions in software companies rather than manufacturing. While everyday jobs may be slower to fill, the need for supply chain resiliency skills continues to accelerate.
Flex's Wide Range of Manufacturing Contributions
Flex, a manufacturing company, plays a vital role in producing various everyday products, including vacuum cleaners, hair dryers, and straighteners. Though they were previously prominent in the mobile phone segment, competition led to a shift in focus. Flex now thrives in the industrial and power sectors, especially in embedded power, facilities power, and automotive electric vehicles. Their contributions range from small components to large-scale infrastructure, and they operate across the globe.
The Potential of AI in Enhancing Manufacturing Efficiency
AI holds significant promise for improving manufacturing productivity. In smaller and medium-sized manufacturing operations, AI can help equalize productivity by optimizing working capital deployment, maximizing equipment utilization, and streamlining fragmented software systems used in production planning. Additionally, AI has the potential to revolutionize planning across the supply chain by leveraging vast amounts of data. By developing comprehensive models for planning, AI can ensure better supply-demand equilibrium, reduce the risk of supply chain crises, and minimize excessive inventory.
AI has brought new challenges for corporate executives in managing their workforces and supply chains. Flex CEO Revathi Advaithi tells WSJ reporter Emily Glazer how she is adjusting to uncertainty and gives her outlook on the future of the workplace and manufacturing. This conversation was recorded at WSJ’s CEO Council Summit on December 12, 2023.
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