ChatGPT may revolutionize the supplier management ecosystem

As you know, ChatGPT is an advanced chatbot. The term GPT stands for Generative Pre Trained Transformation. I am curious to witness how it revolutionizes the supplier management ecosystem and if it is beyond AI’s capability to decipher documents and systems data for supply chain services.

According to Stanford University, “GPT-3 has 175 billion parameters and was trained on 570 gigabytes of text. GPT-3 performs tasks it was not explicitly trained on, like translating sentences from English to French, with few to no training examples. GPT-3 outperforms models that were explicitly trained to solve those tasks, although in other tasks it falls short.

Can the later versions of ChatGPT be trained to analyze company-specific data, processes and tools?

GPT-3.5 was trained on massive amounts of data about code and information from the internet, to attain a human style of responding. The day is not far when it may also cater to real-time user queries. The supply chain use case is very specific to knowing firm-specific processes, FAQs, tools and data. I have jotted a few among several points that seem like promising possibilities when ChatGPT will be applied.

1. Drive service excellence: When it comes to supply chain management, ChatGPT can play a key role in coordinating with suppliers in real time to ensure excellent service to end users or customers. It can be trained to adjust to the specific needs of a business, and also provide a consistent human-like interactive experience, parallelly to many queries.

2. Reduction in response time: Supply chain management is all about the sales volume and personalization of communication, especially in the initial stages of outreach and connection. Manual email and written communication eat up a lot of time to ensure a seamless process. ChatGPT can take care of these administrative tasks.

3. Accurate translation: It can aid with document translation, and produce hyper-local communication copies targeting a specific geographic region. It can also remove obstacles, that are commonplace when supply chain service teams connect across different offices. These outputs will need minimal editing and automatically carry the unique elements of the language across documents and collateral.

4. Dialogue management: Rapidly integrate the bot with NLP Python or any other technology. Link it with the supplier database and open the internet to learn fast. This can help customize and deploy intelligent conversational interfaces in production.

How can MNCs make the most of ChatGPT when it comes to problem-solving?

The ChatGPT has the ability to demonstrate human-like intelligence, which caused an alarm. I feel, it cannot completely replace human jobs, and will instead augment efficiency and agility.

1. Significant reduction in the manual effort required to answer customer queries. This adds up as a measure to control costs.

2. It can lead to higher customer satisfaction due to the quick resolution of their queries.

3. Improve performance with higher productivity. To add to it, there can be a reduction in staffing costs that will lead to a better experience.

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Given the issues that still cloud ChatGPT, there is still a long road ahead before it can replace conventional search engines. However, it is clearly making full strides toward becoming mainstream, and it’s not too far away into the future that it may get fully integrated into the supply chain management ecosystem. Do share your thoughts about this.