Epicor Study Reveals New Findings about High-Growth Supply Chain Businesses


Based on the 2024 Agility Index study by Epicor and Nucleus Research, almost 50% of surveyed companies in manufacturing, distribution, and retail sectors expressed worry about rising costs as the primary supply chain challenge. Additionally, over half of these companies are leveraging artificial intelligence, automation, or machine learning for supply chain management. Significantly, 63% of high-growth businesses, defined by revenue growth of 20% or more over the past three years, have already incorporated generative AI into their supply chain operations to address cost and operational challenges.

Nucleus Research, on behalf of Epicor, conducted a survey of over 1,700 global supply chain management leaders to explore their use of advanced technologies such as artificial intelligence and machine learning. The study aimed to understand how these technologies help organizations thrive amidst challenges like supply chain disruptions, rising costs, and labor shortages. Additionally, the research revealed insights into anticipated future investments in these technologies.

From Epicor’s news release from last week, “When workers are empowered to spend more time innovating, what humans do best, that’s where the real value creation happens. That is agility,” said Vaibhav Vohra, Chief Product and Technology Officer at Epicor. “Our 2024 Agility Index underscores the growing adoption of AI and other automation technologies as an essential factor in enabling supply chain businesses to better thrive and compete. These cognitive capabilities are coming together to empower workers and their businesses to more readily adapt to shifting market conditions and better serve their customers.”

Survey participants reported integrating generative AI into digital supply chain operations across multiple functions, including product descriptions, customer service chatbots, natural language querying, reporting, and in-application assistance. Notably, 72% of organizations highlighted the adoption of generative AI in customer service chatbots as the most prevalent use case.

Another noteworthy stat to share is 67% of organizations currently utilize generative AI to create product descriptions, harnessing its ability to analyze customer sentiment and predict market demand. This informed approach enhances product design and future development.

Businesses are predominantly employing generative AI for inventory optimization (45%) and demand forecasting (40%), underscoring the pivotal role of these technologies in effectively managing inventory levels and making accurate predictions about future demand.

To download a copy of the 2024 Agility Index from Epicor’s website, click here.

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