Highlights:
- AWS Supply Chain includes logistics models that automatically arrange inventory records in a unified format, facilitating analysis to address the problem.
AWS Supply Chain, a cloud-based inventory monitoring and forecasting application, was made generally available by Amazon Web Services Inc. recently. It was first introduced at the cloud giant’s re:Invent conference in December.
Retailers must prevent scenarios where a store lacks inventory to satisfy customer demand. They must also watch out that store owners don’t buy more of a particular item than is required. In some cases, excess inventory must be thrown away, which can reduce a retailer’s profit margins.
AWS Supply Chain is designed in such a way that it helps companies avoid such issues. This cloud-based application can map the locations of a retailer’s stores, logistics facilities, and other distribution centers. When you click on a facility, a panel that displays the likelihood of product shortages or overstocking appears.
AWS Supply Chain gathers inventory information from a retailer’s logistics applications to track product availability in the background. Records are frequently kept in multiple formats by these applications. AWS Supply Chain includes ML models that automatically arrange inventory records in a unified format, facilitating analysis to address the problem.
AWS claims the models also produce a data lake to store the gathered data. They can identify supply chain problems and produce remediation recommendations using that data lake.
The app can identify a nearby logistics hub where a product is in stock if a store is about to run out. It occasionally generates not just one but several recommendations for resolving supply chain problems. The application ranks the recommendations to assist supply chain teams in choosing the best course of action.
In a blog post, Danilo Poccia, the Chief Evangelist for AWS in Europe, the Middle East, and Africa, said, “Recommendation options are scored by the percentage of risk resolved, the distance between facilities, and the sustainability impact. Supply chain managers can also drill down to review the impact each option will have on other distribution centers across the network.”
In addition to assisting retailers with inventory issues, AWS Supply Chain can forecast future product availability. It has a tool for forecasting customer demand based on previous sales records and other information. A retailer can use the application’s forecasts to determine whether it has enough inventory to meet future demand and place additional orders as needed.
AWS Supply Chain is now generally available and includes several improvements that weren’t present in the preview version.
The company has facilitated the application’s integration with SAP SE’s S/4HANA enterprise resource planning system. S/4HANA is used by many businesses to store inventory information that AWS Supply Chain can use to monitor product availability. Additionally, the application is getting interface upgrades and an automation feature to help users prepare their data more quickly.
