Complete Story
10/14/2024
033. Artificial Intelligence for Distributors - The Current Situation in 2024 (afternoon)
Instructor: J. Michael Marks
Level of Complexity: Intermediate
1:30 PM - 4:00 PM
Everyone has turned into an AI expert and the amount of noise in the field is overwhelming. Mike is actively working with deploying multiple AI applications with industrial distributors today. This session starts with a quick overview for those who aren't already using ChatGPT or any of the other models in use today. Those with online access in the class will be able to set up a free account and actually be able to try out the tools for their own use.
The focus of the session after the brief overview is to look at how these tools are being used in distributors today. Many examples of specific firms and their deployments will be shared. While these innovative firms are classed as early adopters, it is interesting that many of the examples are from smaller owner-operator firms. The costs for many deployments that produce specific paybacks are comparable to the loaded costs of a senior field sales rep.
The session will include a deep dive into agents and how they have dramatically reduced the costs of developing an application. Agents are the links between the LLMs (Large Language Models) and real world process integration and automation. Mike will build a live AI application tool with audience interaction. Participants will receive copies of all presentation materials and a number of additional research links for further investigation.
Learning Objectives:
- At the conclusion of the session participants will be able to use the basic AI tools to help them in their current roles.
- Participants will be able to use a framework to identify the first AI applications that produce the most commercial benefits at the lowest costs.
- Participants will be able to explain to their management why this is not an IT project and success requires design by managers and department heads
Bookstore
Achieving Effective Inventory Management – 6th Edition
Jon Schreibfeder
Achieving Effective Inventory Management, 6th Edition, based on our most recent research and up-to-date “best practices”, provides a complete guide for managing a large and often troublesome asset: inventory.
The economic challenges facing distributors today have resulted in EIM conducting a thorough review and update of the entire 5th edition. This update, coupled with discussions regarding the impact and adjustments that the current economic challenges have produced in all areas of inventory management, has produced our new 6th edition.
This book helps you achieve the goal of effective inventory management — to meet or exceed customers’ expectations of product availability with the amount of each item that will maximize your organization’s net profits or minimize its total inventory investment.
