Artificial Intelligence is Accelerating Supply Chain Processes
Supply chain businesses are feeding their huge data sets to AI-based technology to find solutions regarding downtime optimization, improved customer satisfaction, and engagement, reduced transport, and maintenance costs and increase in productivity. AI has provided solutions to the supply chain businesses starting from warehouse inventory management to delivery of the product.
Inventory robots
Customers can use a mobile phone or a tablet to choose the required product, and robotic arm moves along shelves to get those products.
Supply Chain Companies: 1WorldSync, AFFLINK, Vu360 Solutions, PROMATIS.
Delivery robots
Automated drones can be used to deliver products to customers. The AI-powered drone can make automatic adjustments of its flight path based on historical GPS data and climate conditions.
Inventory management
Substantial data volumes and complexity makes it impossible for a human employee to optimize inventory management. AI-powered cognitive inventory management can harness data from different systems like enterprise resource planning (ERP), warehouse management system (WMS), logistics, weather and excel sheets to track stock in, stock out and stock remaining.
AI-Powered Visual Inspection
AI enabled drones, and other surveillance devices can speed up the warehouse inspection by taking photos of cargo to identify damage and suggest appropriate corrective action.
Predictive analysis
Machines learn a customer’s behavior over time. In case of a suspicious transaction made with a customer’s credit card, the credit company immediately takes necessary action. Predictive analysis can also assist in predicting demand for products and parts based on past events and prevailing trends. This will help in warehouse stock optimization to fulfill customer needs. This technology can be used for effective pricing of the product by considering different factors that can affect sales, including part location, seasonality, weather, and demand. Improper maintenance of machines can result in downtime; AI sensors will detect when a part is about to fail so the manufacturer can decide when and where parts are needed.
AI-Enhanced Customer Experience
AI is building a significant relationship between logistics providers and customers using a voice-based service to track parcels and get shipment information. A customer can query to find out the current location of their shipment by asking the voice-based device. If there was a problem with the delivery, customers could be redirected to the customer assistance department of the company.
Visibility
AI-based solutions are providing real-time tracking of all the fleet and workforce by using tracking and monitoring mechanisms to increase transparency and promote integrity throughout the supply chain. It gives managers a clear view to analyze the entire supply chain operations using maps and other techniques.
Check out: Top Supply Chain Companies.
