How AI and Machine Learning Influence Logistics
The digitalisation of logistics transforms every aspect of the supply chain for businesses and their stakeholders. Artificial Intelligence (AI) and Machine Learning (ML) significantly impacts how logistics companies use supply chain data to improve processes, increase visibility into logistics operations, and make smarter decisions about resource allocation.
In digital logistics, AI and ML harness and analyze structured and unstructured data to generate insights into the availability chain. 20Cube Logistics, a digital freight forwarder, interprets this data in MyHub Plus portal, a cloud-based application that gives businesses real-time updates and visibility into every transaction.
Let’s take a look behind the scenes of MyHub to understand how we use AI and ML to streamline digital logistics processes and supply chain management.
ML and Supply Chain Management
Machine Learning optimises supply chain planning. ML programs analyze massive amounts of data about product supply and demand. The algorithm understands how long a product takes from acquisition to delivery, so it can alert your company when inventory is running low in the warehouse. Intelligent insights about inventory and orders reduces the risk of under and over-ordering products, saving you money and keeping customers happy.
AI for Demand Prediction
Besides order patterns, many other market factors affect the demand for your products, such as fuel cost, seasonal demand, economic and social trends and more.
AI and ML can analyse the factors influencing demand to help businesses make smarter, cost-effective decisions. In the past, trying to predict these market fluctuations either required manual data analysis or resulted in unpredictable costs and inventory.
Route Optimisation and Consolidation Management
Market fluctuations also influence shipping costs, and most businesses want to reduce these costs as much as possible. While we cannot control fuel prices, AI and ML can help us find the routes that can deliver cargo the fastest and consolidate shipments.
Consolidation management involves placing multiple consignments into one container. This can reduce your business’s shipping costs ten-fold because it ensures your cargo is on the fastest route to its destination in a full container load.
AI and ML come into play by providing 20Cube with comprehensive data about air freight, ocean freight and other shipment methods, as well as shipment locations, delivery dates and routes. Technology interprets this data to inform our distribution teams what cargo needs to go where and when.
Leveraging Digital Logistics Technology for Your Business
20Cube Logistics combines third and fourth-party logistics services into a comprehensive digital logistics package for your business. We oversee the entire supply chain process, including warehousing, distribution, freight, and information technology.
What sets us apart from other 3PL providers is our robust technology. 20Cube relies on AI and ML to provide your company with essential updates to maximize supply chain efficiencies. MyHub Plus provides real-time alerts to identify and reduce delays, gives stakeholders transparency into the shipping process, and increases visibility of the supply chain.
Technology today has made it possible to optimize operations in the best possible ways. AI and ML can help in uplifting the productivity and efficiency of smallest businesses.Joining hands with technological advancements is not a choice anymore, it has become the need of the hour.
MyHub Plus portal helps in gaining visibility in the shipping processes and makes digitized logistics more efficient by giving real-time information.Accurate data capturing and detailed reports can help in procurement planning and better decision making.
To learn more about digital freight forwarders and optimize your supply chain management with technology, set up a consultation with 20Cube.