Advanced technologies like artificial intelligence (AI) and sensors have enabled the supply chain to continually evolve over the past several years, with the goal of keeping operations lean. Less inventory in the pipeline has meant using electronic components and raw materials in the most cost-effective and efficient ways—a huge benefit for many companies. However, when the COVID-19 pandemic took hold and caused global supply-chain disruptions, many industries were left reeling, including the electronics industry. The industry has experienced an immense bullwhip effect, seeing an initial drop in demand for end-product at the outset of the pandemic, followed by skyrocketing demand for products, alongside a delivery and inventory storage shortage.
Full story : How IIoT and AI are Transforming the Supply Chain.
