From the course: Transforming Supply Chains with AI: A Leader's Road Map
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Process mining
From the course: Transforming Supply Chains with AI: A Leader's Road Map
Process mining
- Processes are the backbone of any firm today, or should we say, efficient processes are the backbone of any firm today. It is how you create a competitive advantage. For example, how quickly you can respond to a new product launch from a competitor, what your speed to market is, how agile your production and sourcing process is, and so on. Do you know we can use AI to optimize our processes and therefore create such a competitive advantage? A technique called process mining can help us do exactly that. Process mining is effectively an intersection of traditional process management and data science. Every system creates a digital footprint called an event log. A specialized machine learning algorithm reads this event log and creates a visualization of the as-is process. Unlike traditional process mapping that relies on subjective interviews and time-consuming workshops, process mining uses actual system data to show every variation, exception, and bottleneck within the process. For…
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