Technology in the supply chain has changed the overall functionalities and operations in a very good way. Technology has given its marvelous contribution to the world of business, every industry has revolutionized with the implementation of technology. The supply chain industry has also seen a boom in its efficiency by implementing technology.
There are plenty of technologies that have been implemented in supply chain and logistics and all of these technologies have their own merits. In this blog, we’ve picked two of the most advanced technologies that are artificial intelligence and machine learning.
The Two Technologies Making Supply-chain More Efficient
Both the technologies have been explained in brief below
1) Artificial intelligence
AI is named Artificial intelligence tonus because, in many ways, it mimics the way humans behave, think, and recognize patterns; it just does it on a much higher level. AI is one of the most advanced technologies available today.AI enables the logistics business owner to get better insights into the market conditions, business data, machines maintenance routine, etc. AI has become the fundamental backbone of how we operate either our mobile phones for daily use or the way we operate a business with personal computers.
The misconception people have is you can’t take advantage of AI until you first solve the ADA challenges, the dirty siloed inaccessible, unusable, unclean data. The use of artificial intelligence is being done to solve the data problem and so they’re very much intermingled.
2) Machine Learning
Machine learning is drastically altering the way we process information. Traditionally, computer programs are written in which the programmer tells the program exactly what to look for to achieve a specific result, and then action is taken based on that result.
With machine learning, we teach the program to look for patterns in the data, then we feed it the data, and then it learns from the data we feed it. It learns what patterns to find and that allows us to find all kinds of ways to solve problems.
Machine learning examines a large amount of data and discovers and recognizes patterns that would be unforeseeable to humans and even the best-trained statistician or person who writes algorithms to map out.
Technologies have played a vital role in increasing the efficiency of the supply chains and the logistics industry; this has also been done with the optimization of data available in the industry. For any business, data is a very critical factor to determine the amount of stability, sustainability, and success of the business. In the logistics industry, it is termed predictive logistics.
Predictive logistics is a new and big category in the view of ourselves as helping pioneer this type of effort into the supply chain and pretty good route logistics stands for few things. Using intelligence over scale is exactly that as being proactive and predictive instead of reactive and just managing exceptions. After the fact, it is also this notion that we’ve heard from around the world from the customers of wanting to be much more marketing intervention, customer-driven, and data-driven so this category is really standing for that next-generation logistics of the supply chain.
Predictive logistics is really a sort of intelligence platform that you can think of to not only make sense of that data from the inside of your company but then leverage the best technologies like AI and machine learning to solve other challenges from the core data issue operators deal with.
It’s all about the data, data is obviously needed to get to the future of predictive logistics and enhanced predictive visibility. The misconception is that you need different and new kinds of data which means that you need all containers like the pallets to be equipped with a sensor before things are done but this is not true this is actually a fallacy. There’s enough data in the industry that you can leverage it as long as you can make sense of it using machine learning.
To sum up, the way the supply chain and logistics business used to work a few years ago has now upgraded phenomenally and is getting more and more efficient year by year. With the adoption of new technology and methods, the logistics industry has seen a positive effect on its business. The implementation of technologies like artificial intelligence and machine learning has managed to smoothen all the complexity the supply chain industry used to have not these two technologies have also resulted in boosting the overall ROI of the supply chain.
Are you looking to implement technology into your supply chain business? If yes so please feel free to contact us at firstname.lastname@example.org