On the evening of November 21st Beijing time, Gartner announced the final list of the 2024 Gartner Power of the Professional Supply Chain Awards. JD has successfully been nominated for the Annual Process/Technology Innovation Award with its "Elastic Planning Technology Based on Probability Distribution Prediction and Explanatory AI". It has been nominated for the finals for two consecutive years and is also the only Asian finalist for this award.
The Gartner Power of the Professional Supply Chain Award has been held for ten years and is an annual award that measures the innovation capabilities of enterprises in the supply chain. It aims to recognize enterprises that have demonstrated breakthrough supply chain innovation globally, in order to promote the intelligent transformation of global supply chains. Approximately 80-100 leading supply chain enterprises worldwide participate in the evaluation every year, and the awards mainly include four categories: "Annual Process/Technology Innovation Award", "Annual Customer Innovation Award", "Annual Social Impact Award", and "Annual Team Breakthrough Award", The "Elastic Planning Technology Based on Probability Distribution Prediction and Explanatory AI" developed and designed by the Y Business Department team of JD Intelligent Supply Chain has successfully been nominated for the final of the Annual Process/Technology Innovation Award (top 5), becoming the only Asian finalist and the only retailer for this award. The other four are Google, Cisco, MTN Group, and Allina Health.
The elastic plan created by combining probability distribution prediction and interpretable AI technology solves the problem of how AI technology can provide reliable decision-making support for the supply chain in the face of external uncertainty and rapid market changes, especially improving the response ability in complex scenarios such as severe weather in Northeast China, and thus playing a crucial role in improving supply chain efficiency.
The winning of multiple consecutive international industry awards highlights JD's series of technological breakthroughs in the supply chain field. In the third quarter of this year, on the basis of the number of self operated SKUs reaching tens of millions, JD's inventory turnover days further decreased to 30.8 days, an increase of 0.9 days compared to the same period last year, and continued to maintain global leadership. At present, JD has achieved a procurement automation rate of over 85% and an average spot rate of over 95%. During the recently passed JD 11.11 shopping festival, JD's intelligent supply chain provided over 620000 supply chain decision-making suggestions such as replenishment and adjustment every day, achieving supply chain collaboration with over 76% of self operated suppliers, helping them better predict demand, guide production, and arrange inventory, thereby significantly improving the efficiency of the supply chain upstream and downstream of the industrial chain.
Faster inventory turnover means that JD.com can help brands and merchants sell products and recover funds in a shorter period of time; More efficient intelligent supply chain decision-making and collaboration means that partners and JD.com collaborate more deeply with each other and share the industrial efficiency brought by the intelligent social supply chain. This can reduce duplication, save a lot of costs, and achieve higher profitability compared to a single enterprise operating alone.
With the help of intelligent technology innovation, JD has worked with many partners to create the "really cheap" JD 11.11 Global Good Goods Festival by "squeezing water" in the supply chain and delivering the saved costs to consumers. Not only are consumers willing to pay, but they also allow a large number of partners to share the industrial efficiency and tangible growth brought by JD Digital Intelligence's social supply chain.