AI in Supply Chain: Reducing Fraud and Protecting Your Business

AI in Supply Chain: Reducing Fraud and Protecting Your Business

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AI in Supply Chain: Reducing Fraud and Protecting Your Business Kanerika Inc · Follow 9 min read · Just now Fraud reduction solutions in the supply chain are in high demand in 2024. How do we know this? Supply chain fraud costs global businesses millions of dollars each year, with manufacturing companies losing $350 million alone. On average, a typical corporation loses 5% of its annual revenue to fraud. These frauds manifest in myriad forms — from duplicating invoices to delivering non-compliant parts and, even more insidiously, through kickbacks from vendors. According to Deloitte, a staggering 28.9% of professionals reported incidents of supply chain fraud within their organizations. Yet, alarmingly, 26.8% of these organizations lack any robust program to combat such risks. But why should this concern us deeply? […]

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