Implementing AI in Supply Chain Logistics
Supply chain logistics is going through a paradigm shift wherein leading e-commerce and logistics have raised customer expectations with timely delivery and status updates of the consignment. Many organizations today are adopting latest technologies like AI (Artificial Intelligence), Blockchain and Machine Learning to provide and fulfill customer demand and most importantly- to sustain in the highly competitive market. According to a survey by market research firm IDC, “Around 50 per cent of supply chain logistics companies will use AI and Power BI for advanced analytics for planning by 2020”. Supply chain management is one of the top three industries that have been successful in implementing AI into the business.
What is Artificial Intelligence?
Today, AI plays an important role in modern supply chain optimization. For example, in a warehouse, AI helps retailers to maintain an edge for supply chain operations and product delivery. Retailers can also use AI to understand which products are more profitable to stock based on its vicinity to certain areas. AI also predicts new stocks in case of any behavioural change in the consumer choices.
Improve your supply chain process with AI
The reason why AI is integrated in the supply chain is to create a fully-automated and predictive decision making system. It enables the businesses to accurately predict the demand and also adjust routes for last mile deliveries as well as predict the nature and volume of material flow (for example, weather patterns, GPS and RFID) that affect the delivery time.
The continuously gathered data enables the business to take decisions and improve the customer service and delivery.
What are the AI Applications within Supply Chain Activities
Machine learning in supply chain
Machine learning helps predict the demand and supply, and forecast inventory which enables the stakeholders to make sound decisions for the business.
Chatbot in operational procurement
With Chatbot, businesses are getting the benefit of reduced cost of transactions. It streamlines procurement related tasks through automation. To know more on Chatbot, click here.
- Chat with customers and suppliers
- Document invoices and payment requests
- Research and answer queries on procurement functionalities
- Action alerts notifications to suppliers regarding compliance
With AI adoption in business, it has become easy to track and trace data, quickly detect errors and generate predictions to enhance supply chain operations.
20Cube Logistics has enthusiastically implemented AI to provide the best customer experience by providing end-to-end supply chain visibility. Not only that, the business can also gain a high level of accuracy and improve the customer experience.