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AI applications across the supply chain that can create new value in the form of operational excellence, cost savings, and increased customer loyalty. AI with RPA (Robotic Process Automation) creates cognitive intelligence which as a result increases productivity and accuracy by avoiding human error. AI plays a vital role in powering Autonomous Vehicles. Mundane task such as material handling and order picking or delivering can be done by AVs’ like autonomous truck, drone. It cut down costs, reduce labor and improve efficiency. With ML (Machine Learning) and AI in full power, predictive analytics helps transport industry to optimize route planning and delivery scheduling. It tackles fraud detection with 97% accuracy. With better understanding of human behavior, chat bots are already used in full swing in leading Logistics service providers which in turn improve business efficiencies. Machine learning is being adopted in Logistics Control Tower operations to provide deeper insights into how every facet of collaboration, logistics and warehouse management can be improved.
Achieving excellence in logistics involves working collaboratively with others to optimize the flow of physical goods as well as the complex flow of information and financial transactions from the fragmented and competitive nature of the industry. Blockchain can achieve cost savings by powering leaner, more automated, and error-free processes. As well as adding visibility and predictability to supply chain operations.
Companies are learning to turn large-scale data into insights for competitive advantage. The precise forecast of market demand, radical customization of services, and entirely new business models demonstrate exploitation of their previously untapped data. The large amount of data that is collected, stored is evaluated and shows simplified results by performing strategic intelligence and gives us the accurate results on the prediction or improvize the existing process in order to boost our business. The usage of Big Data in the Transport and Logistics Industry has impacted drastically. We can anticipate slow and busy periods, predict future supply shortage and take counter actions for it. Sentiment based Optimization and business intelligence help us to foresee and keep track on the inventory and unpredicted stock outs. The Crux behind the Big Data is to make data powerhouse work and improve decision making for all the activities across Supply Chain.
Opportunities to take advantage of collaborative robots exist throughout the supply chain, including manufacturing and warehousing operations. Implementing robotic systems can improve efficiency, reduce errors, increase safety by relieving humans from dangerous tasks, and reduce machine downtime. Compared to traditional industrial robots, the latest collaborative robots are better suited to high mix, low volume production.
AR is vital for the prospective and exact planning and operation of tasks such as delivery and load optimization and is critical to providing higher levels of customer service. AR can be applied in following operations like: Warehousing Operations, Transportation Optimization, Last-mile Delivery & Enhanced Value-added Services.
IoT promises far-reaching payoffs for logistics operators and their business customers and end consumers. These benefits ex-tend across the entire logistics supply chain, including warehousing operations, freight transportation, and last-mile delivery. And they impact areas such as operational efficiency, safety and security, customer experience, and new business models.