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Optimise your supply chain with machine learning

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Posted by David Monk 3 months ago

More companies are taking a smarter approach to business operations by using artificial intelligence (AI) – or more specifically, machine learning. And plenty of those companies are choosing Microsoft Dynamics 365 as their tool of choice to do so.

Attracted by its ability to incorporate machine learning capabilities with business applications, business leaders are finding they can carry out operations more effectively and get the predictive insights they need to optimise supply chains.

So how does it work? Machine learning algorithms recognise new patterns in supply chain data on a daily basis, without the need for manual intervention.

According to a recent study by the McKinsey global Institute, advanced AI technologies could hold the key to boosting the global economy. The research found that the impact could be as much as ten to 15 trillion dollars across all industry segments.

Integrating Azure Machine Learning into your Dynamics environment allows more accurate demand prediction. The first step is preparing the historical data from Dynamics 365 ready for the Azure Machine Learning Studio.

Once the historical data is loaded, a model can be trained for accurate forecasting. These forecasting models can be built in R or Python.

Once setup is complete and the demand forecasting parameters configured, the next step is to generate a statistical baseline forecast. This will search for the best-fit model based on the parameters and generate the forecast from the machine-learning engine.

The final stage in the process is adjusting and approving the forecast based on the needs of the business. External factors such as market volatility also need to be taken into consideration.

Once the demand forecast is authorised, planned orders can be created. Each one includes parameters such as production process, minimum lead time, and lowest unit price.

In just a few steps, a predefined, AI-infused demand forecasting model can be set up in Dynamics 365 to generate forecasts, and can be fully customised to suit the business.

Integration of Dynamics 365 and Azure to allow for real-time results is simple. How will you enable these AI initiatives for your business?

 

If you’d like information on hiring Microsoft Dynamics professionals, get in touch with Hunter Charles today.

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