The changing dynamics of world events reinforce the uncertainty of life, and no matter how much technology advances, human behaviour remains unpredictable.
The concept of smart supply chains underscores the need for agility and resilience:
The threat on current supply chains requires procurement leaders to be more aware of the potential impact to their organization. There are a number of AI based tool sets that are available in the market [a useful ProcureTech link is included to help independent research].
A common business criticism is that the procurement process already takes too long and any increased complexity and additional risk management demands will place further strain on the process.
There is still considerable fear around the use AI. Recent business feedback highlight concerns with data security and a further need to perform greater process due diligence. The challenge is closed minds and extended time delays create barriers that do not help the organization to respond to potential supply chain disruptions.
Forrester’s research suggests as many as 86% of US employees fear that many people will lose their jobs to AI and automation, and almost a third (31%) believe that trend will manifest during the next two to five years.
It is understandable that many organizations hesitate to make the leap. What’s the alternative?
The best strategy is to develop a strong business culture. There is a high correlation between culture and performance. McKinsey studies across 1000+ organizations suggests a special ‘something’ enables competitive advantage to grow and sustain over time. That something is culture.
Why is culture so important to a business? Here is a simple way to frame it. The stronger the culture, the less corporate process a company needs. When the culture is strong, you can trust everyone to do the right thing.”
Brian Chesky, Co-founder and CEO, Airbnb
Despite the fears and the uncertainty, I was encouraged following a discussion with a junior colleague, who confidentially echoed the Forrester finding that Gen AI will reshape far more jobs than it eliminates. “Only those [individuals] would fail to use AI will lose their jobs”. Generation-z have no issue in leveraging technology; after all they have grown up in the digital world.
It is not about ‘having’ time, it is about making time
AYSCO CONSULTING 