Using machine learning and artificial intelligence to predict supply chain demand is the focus of a collaborative effort between JDA Software and the Massachusetts Institute of Technology (MIT), Supply Chain 24/7 reports.
MIT’s Institute for Data, Systems and Society’s (IDSS) research and innovation team will work alongside JDA to come up with new solutions based on cognitive responses gathered in analyzing supply chain demand. With the professor of engineering systems, Dr. David Simchi-Levi, at the helm, the collaborative effort is expected to look into how “edge technologies” like Internet of Things and artificial intelligence can better anticipate where demand will occur.
JDA Executive Vice President and Chief Development Officer Desikan Madhavanur provided a preview of the collaboration. “It is more critical than ever to infuse innovation into every aspect of the supply chain, as edge technologies such as the Internet of Things (IoT) and artificial intelligence (AI) are essential to digitally transforming supply chains. This collaboration allows us to tap into the extraordinary mindshare at MIT to accelerate the research into more intelligent and cognitive capabilities moving forward.”
Case studies based on real-world situations will be created based on the research conducted at JDA Labs. JDA Labs’ team is described in the report as “a dedicated research and development group committed to delivering patentable innovations and new products to the market.”
“The collaboration will leverage multiple data sources and emphasize the combination of machine learning, optimization, and consumer behavior modeling,” said Simchi-Levi, who described the collaboration as a way to “develop sophisticated machine learning algorithms that may accelerate research in this area as well as JDA’s digital solution offerings.”