Future-Ready: How AI is Shaping the Mid-Market Manufacturing Landscape

Integrating artificial intelligence (AI) into the industrial manufacturing space is no longer just a futuristic idea but a reality transforming mid-market companies. While many discussions about AI focus on its potential, numerous firms already use it to revolutionize their operations. Moving beyond speculation, these companies are tackling specific challenges and discovering new opportunities, setting a standard for innovation and efficiency in the mid-market sector. From improving maintenance and optimizing supply chains to enhancing quality control and customer service, AI is more than just a buzzword. It’s a powerful tool that’s redefining business models and strategies, helping companies thrive in an increasingly AI-driven world.

Key Insights from Cherry Bekaert’s Symposium

The topic of AI was a key focus at Cherry Bekaert’s recent Modernizing Manufacturing Executive Symposium, which featured several panel discussions with top industry executives. At the event, Cherry Bekaert Partner and Industrial Manufacturing & Consumer Goods Leader Jason Hodell, along with Regions Bank Executive Vice President & Commercial Banking District Director Mary Beth Coke, hosted a session where three executives shared how their companies are embracing AI to manage risk, provide strategic insights, and drive growth, among many other benefits. The panel included:

• Paul Noble, Founder of Verusen

• Vish Narendra, CIO & SVP of Global Business Services at Graphic Packaging International

• Chuck Thompson, CEO of Specialized Property Management

This article aims to share insights from the panel discussion on how AI is reshaping mid-market manufacturing.

AI in Supply Chain

Drawing on his extensive experience in the industrial supply chain sector and noticing the challenges manufacturers and suppliers face — especially during disruptive periods like the COVID-19 pandemic — Paul Noble launched Verusen to revolutionize supply chain operations by leveraging system data and human knowledge for faster, smarter decisions.

Verusen, a supply chain intelligence company, helps global supply chains understand the materials used in their operations. By leveraging AI, the company simplifies complex data and human interaction problems, delivering significant and swift value to its customers.

Verusen focuses on materials optimization by leveraging advanced data analysis to reduce unnecessary inventory and improve procurement processes. A standout feature of Verusen’s approach is its purpose-built AI, designed to garner valuable insights and offer actionable recommendations even when dealing with incomplete or “dirty” data. This innovative capability enables clients to effectively manage working capital, mitigate risks, and enhance operational efficiency.

Purpose-Built AI’s Impact on Manufacturing Operations

As Verusen’s first customer, Vish Narendra of Graphic Packaging International shared insights into the company’s role and achievements in using the purpose-built AI solution to enhance its supply chain intelligence. Graphic Packaging, a leading packaging manufacturer, has been investing heavily in technology transformation, partnering with Verusen for the past four years to enhance their supply chain intelligence. This partnership has proven highly valuable, allowing Graphic Packaging to gather significant insights and drive efficiencies across their operations.

The implementation of AI-driven solutions has been transformative, enabling the company to quickly identify overstock situations and reallocate resources efficiently, reducing lead times and enhancing operational responsiveness. AI tools can uncover millions in potential cost savings, directly contributing to the company’s objectives and shareholder value.

Beyond Manufacturing: AI in Customer Service and Real-Time Analytics

Chuck Thompson shared how his company, Specialized Property Management, has effectively utilized AI to enhance customer services and drive growth. Unlike industrial manufacturing companies, Specialized Property Management manages single-family rentals for investors, institutional funds, and public companies. Over the past four years, the company has spent roughly $4 million on technology advancements, with $1.2 million invested in AI.

Their technology stack incorporates solutions for data ingestion, data transformation, data storage and processing, and predictive analytics. This has resulted in being “a complete game-changer” for the company, improving internal efficiencies and customer interactions. By implementing AI-driven solutions, the company has significantly reduced customer attrition and made a sustainable impact on its service model.

Does Your Company Have an AI Game Plan?

In the rapidly evolving world of industrial manufacturing, staying ahead means embracing innovation. As AI continues to revolutionize the mid-market sector, companies without a strategic approach risk falling behind. Ask yourself: Is your company leveraging AI to its full potential? Are you optimizing supply chains, enhancing quality control, and improving customer service with AI-driven insights? If not, now is the time to act.

Developing a comprehensive AI strategy involves more than just adopting new technologies. It’s about integrating AI into your core business processes, aligning it with your company’s goals, and ensuring it delivers measurable value. With AI, you can transform operations, manage risk more effectively, and capitalize on new growth opportunities. The success stories shared at Cherry Bekaert’s Modernizing Manufacturing Executive Symposium highlight how leading companies are already doing this and provide a roadmap for how you can start or refine your own company’s AI journey.

With keen operational guidance and a long-standing dedication to the industry, Cherry Bekaert’s Industrial Manufacturing team is ready to assist you in crafting a tailored strategy that not only meets today’s challenges but also positions your company for future success.

CloudStreet Services

CloudStreet Services is at the forefront of this AI revolution, offering cutting-edge solutions tailored to the unique needs of mid-market industrial companies. By partnering with CloudStreet, businesses can leverage advanced AI technologies to optimize their operations, enhance supply chain management, and improve customer interactions. CloudStreet’s expertise in AI-driven analytics and real-time data processing ensures that companies can make informed decisions, reduce operational costs, and achieve sustainable growth.

For more information on how CloudStreet Services can help your company harness the power of AI, visit CloudStreet Services.