AI in supply chain management

 

AI in supply chain management !


6 Applications of Artificial Intelligence for your Supply Chain. | by Kodiak Rating Community | Medium



Artificial intelligence (AI) was introduced to develop and create “thinking machines” that are capable of mimicking, learning, and replacing human intelligence. Since the late 1970s, AI has shown great promise in improving human decision-making processes and the subsequent productivity in various business endeavors due to its ability to recognize business patterns, learn business phenomena, seek information, and analyse data intelligently. 


Leading Businesses Are Incorporating AI Into Their Supply Chain Processes to Gain a Leading Edge | Quantzig Reveals the Top Five Ways AI-Powered Analytics is Revolutionizing Supply Chain Management | Business Wire

Four Ways AI Is Impacting Logistics and Supply Chain Management



Predictive capabilities are helping demand forecasting. When inventory lags demand, companies suffer losses. AI is ramping up efficiencies in network planning and predictive demand, allowing merchandisers to become more proactive. By knowing what to expect, they can adjust the number of vehicles and direct them to locations where maximum demand is expected. This leads to lower operational costs.

Chatbots are redefining customer support. According to Accenture, 80 percent of all customer engagements can be handled by bots. AI can personalize the relationship between customers and logistics providers.

A recent example of personalized customer experience is DHL’s partnership with Amazon. By activating DHL Parcel “skill” via the Alexa app, DHL customers can ask Alexa to connect with Amazon Echo or Echo Dot smart speakers and confirm their parcels’ status. In the event of any issues arising during the interaction, Echo users can directly contact DHL for assistance by its customer-support team.

Smart warehouses are more efficient. A smart warehouse is a fully automated facility wherein most work is done through automation or software. In the process, tedious tasks are simplified, and operations become more cost-effective.

Alibaba and Amazon have already transformed their warehouses through the use of automation. Amazon recently rolled out machines that automate the job of boxing customer orders. In Amazon warehouses, robots work alongside humans to increase productivity and efficiency.

Genetic algorithms are improving delivery times and reducing costs. In the logistics business, every mile and minute matters. Companies can use a route planner based on genetic algorithms to map out optimal routes for deliveries.UPS uses Orion, a GPS tool that helps drivers make timely and cost-effective deliveries. Routes can be planned and optimized depending on traffic conditions and other factors. Orion has helped UPS save nearly $50m annually.

In the near future, AI will set a new standard of efficiency across supply-chain and logistics processes. The game is changing quickly, creating a “new normal” in how global logistics companies manage data, run operations and serve customers, in a manner that’s automated, intelligent, and more efficient.

Regardless of how one views these changes, AI and associated technologies are about to take over global supply-chain management.




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