Artificial Intelligence are changing the Logistics Industry
There are an increasing number of people around the world who have significant purchasing power. Manufacturing and design technologies are capable of producing goods at some times blinding speeds. Likewise, new vehicular modalities increase the efficiency and capability of the transport industry.
What does all this mean for logistics? Each of these aspects challenge current business practices to compete at a faster pace alongside an increasing number of options.
Technology, such as artificial intelligence (AI), and other innovations, provide enticing solutions.WThe logistics industry itself is independent of the transportation industry. Logistics is involved with planning and analysis. Transportation implements the findings, goals, and long-term plans set forth by logistics professionals.
While transportation is action oriented, logistics technology makes the modern world possible.
“Current fragmentation in the logistics software market is an impediment to adoption. With the spike in blockchain and A.I. technologies, a myriad of new fragmented logistics software platforms has entered the market, offering more choice but at the same time confusing the markets. In 2019, a few selected that offer the most value will thrive while others will fizzle out as more of a novelty,” said Ashik Karim of 1Shift Logistics, an end-to-end logistics solutions company that uses technology to improve the industry.
Logistics technology brings efficiency to the supply chain. Its advantages can be employed for end-to-end solutions. From planning, tracking, control procedures, and implementation, logistics improves current operations. It also finds opportunities that may exist in production, storing, distribution, and transporting.
Many, if not most, of the top world leaders believe that artificial intelligence (AI) is the most profound technology to ever grace the human race.
Business leaders believe that AI has significant advantages for business.
By 2035, the AI market is expected to generate a 38 percent increase in profits.. AI’s ability to find inefficiency in current business-to-business transactions opens up a new world for data management. It provides the tools to enact operational order.
While AI can find, diagnose, and automate logistical solutions, digital ledger technology can record, secure, and make operations more efficient. Deloitte compiled a global survey and found that digital ledger technology adds speed (32%), encourages new business models (28%), and reduces costs (16%).
Each of these aspects alone are capable of a cascade of modernization for logistical practices. Together, they illustrate how disruptive a change is coming.
1Shift Logistics was created by the team at LiteLink Technologies. The 1Shift Logistics software provides cutting edge end-to-end logistics management solutions for the freight and logistics industry.
The revolutionary software empowers decision makers with increased visibility. It is a practical solution that can be accessed via desktop and mobile phones. It enables managers to directly connect with every member of the team. For instance, drivers find automated real-time routing, delay and incursion updates, along with payment processing.
The product works on desktops and on trucker mobile phones, eliminating the need for drivers to get involved in long discussions regarding route, delays and payments. The 1SHIFT Logistics platform seamlessly automates these typically manual features.
1SHIFT Logistics is a live and actionable solution. It offers decisive advantages for pricing histories, partnerships, and variable factors that determine operational decisions. As an enterprise solution, it delivers an improved understanding, speed, efficiency, cost reduction, and complete end-to-end monitoring with minimal need for manual intervention.
Artificial Intelligence how will supply chain management be promoted?
Logistics has been an integral part supply chain and business models. Unlike the past, businesses have now started to focus on its development for which they look up to new age technologies. Artificial intelligence (AI) is one such technology that holds the potential to leverage logistics to overcome present challenges. Retail logistics face the most challenges as it directly caters the consumers and is widespread making it more complex. Logistics currently needs to predict consumer needs, goods demand, a simpler process, and streamlined workflow to remain unhindered and profitable.
AI in Documentation
Organizations from around the world used to put in their efforts in managing the paperwork for logistics which was prone to errors, costly, and time taking. AI adoption allows automating the process and saving money as entities themselves could enter data and AI interface managed all by itself without human intervention. Also, the insights received from this data enables companies to enhance their payment and documentation methods and keep a track of them.
The major benefit of AI proves to be its predictive analysis of customer demands. Integrating AI in logistics will give manufacturers to retailers, an insight of consumer needs. Retailers will be able to understand the demand of particular good at a particular time or region and accordingly, they would procure them. Data received from retailers would help all other entities in the supply chain redefine their inventory. Improvements made at the top of the hierarchy would trickle down and benefit the rest.
Apart from customer needs, AI can also leverage organizations to improve their logistics management system as it will enable them to keep a track of their assets in real-time. From transportation to inventory everything could be sorted according to requirements of the market. A proper assessment of assets will allow optimizing resources and investments.
Tedious and mundane tasks can be shifted to the AI interface which will carry them out with the same efficiency each time. As AI can interpret bigger data sets companies can fetch more tenders and choose the most reliable and profitable logistics partners based on it.
Source: CIO Review