As demand heightens for AI-driven technologies, supply chain leaders across multiple industries should carefully create their future-looking plans, according to a May 7 Fortune article written by Marc Barnhill, CEO of Smith.
After the yearslong shortage of semiconductors, experts in healthcare, automotive, finance and manufacturing sectors increasingly need to buttress their supply chain processes with AI, Mr. Barnhill said.
The chip scarcity led to a "paradigm shift," he said.
To avoid unnecessary stockpiling — such as multiple task forces searching for chips — the CEO recommended "arming your company with the necessary information, such as access to data about supply, lead times and pricing, ensures a deeper understanding of where your supply chain stands."
"Companies can no longer react to shortages as they come," he wrote, adding that the chip shortage outlined the necessity for diversified suppliers, stronger partnerships with manufacturers, and certifying new suppliers and distributors.
Mr. Barnhill's company, Smith, offers IT asset disposition, procurement and supply chain solutions for various industries, including gaming, automation, e-commerce, medical and consumer electronics.
Read more here.