AI – Science Fiction Becomes Reality
AI was still science fiction only a decade ago. In the past year, Supply chain and logistic companies have begun to discover the true value of AI. From loading trucks to predicting the future, machine learning is posed to revolutionize the industry.
Artificial intelligence is the simulation of human intelligence. That is what differentiates it from your standard computer algorithm. AI ingests large swaths of information and uses that to accurately predict outcomes. In our increasingly data-rich world, this has become remarkably viable across many industries – including supply chain management and logistics.
Here are some of the ways that technology is being used in supply chain management and logistics today:
• Demand Forecasting
• Optimizing Routing and Delivery
• Improving the Loading Process
• Generative AI in Supply Chains
A major aspect of every supply chain is knowing what product is where and how much of it. To this end, AI has enabled companies from retail stores to mail carriers to accurately track inventory. This includes tracking orders as they move across the globe while keeping track of stored inventory via automated surveillance checks in warehouses.
AI can also oversee numerous variables, including:
• Volume
• Lead time
• Temperature
• Errors
• Downtime
All of this frees staff to work on human-specific inventory tasks rather than repetitive jobs. AI is allowing us to increase the speed and accuracy of our logistical systems around the world. Supply chain managers now have enhanced visibility in their supply chain. We have a better idea of where goods are.
More and more tasks are being optimized and automated. That means we’re seeing greater ROI on the greater logistical efforts throughout the entire supply chain.
All of this ultimately means AI is pushing us to a fast, efficient, and cost-effective supply chain that was unthinkable at the start of the century. And that’s only what we’re seeing today.
If you have ever considered outsourcing all or parts of your supply chain, or simply do not have the capacity to support your growing production please contact, Dean Steiner, VP of Sales & Strategy, to discuss your needs in more detail, d.steiner@aw2logistics.com, 1-877-223-0605 or complete the contact form below.