Machine Learning and Artificial Intelligence Can Help “Future-Proof” Supply Chains
Over the past couple of months, most supply chains have weathered an unexpected storm. Rules and regulations are updated frequently in order for manufacturers, retailers and distributors to continue delivering. There’s no doubt that supply chains are feeling strained as they continue to adapt to these circumstances while operating efficiently and cost-effectively. Machine learning and artificial intelligence are two emerging technologies offering an exciting opportunity to supply chains looking to strengthen their operations.
Machine Learning Makes Way for Predictive Analytics
Integrating machine learning in logistics operations can help automate a number of repetitive and time-consuming tasks. Businesses are then able to focus on more delicate aspects of their operations that require more attention. Managing inventory is much simpler with the assistance of machine learning. Supply chain managers can optimize their inventory and ensure they’re making better informed decisions.
Additionally, machine learning gives companies access to predictive analytics. Through predictive analytics, machine learning models are able to identify patterns in historical data regarding demand. Companies can utilize the data to forecast demand as precisely as possible. Through accurate demand forecasting, businesses are able to make better informed decisions about how much inventory to hold and when to restock.
Artificial Intelligence Simplifies Warehouse Management
Supply chains that utilize artificial intelligence are able to handle larger sets of data at a time and better inform those involved in decision making processes. Artificial intelligence applies advanced algorithms to a variety of data sets, producing results that lead to more effective strategizing. Using artificial intelligence helps businesses maximize operational efficiencies while minimizing costs.
Artificial intelligence is especially useful in both maintaining and managing warehouses. More advanced models are able to supervise unmanned warehouses and keep track of who’s coming in and out. Artificial intelligence eliminates the need to manually count inventory as it can scan the barcode of each item and count that way.
Both machine learning and artificial intelligence help companies prepare for uncertainties the future may hold. While it is impossible to accurately predict everything that’s going to happen, machine learning enables predictive analytics to give companies a better idea of what to expect. The key to overcoming adversity in supply chains is to make sure that logistics teams are prepared.
Preparing your supply chain for what comes next starts with leveraging advanced technology with additional features to fit your company’s specific needs. By implementing a transportation management system (TMS) you can quickly add efficiencies to your supply chain through visibility, integrations, automation and optimization features.
Transportation management systems like Kuebix TMS can integrate with ERPs like Microsoft Dynamics, Sage, NetSuite or any other platform to further simplify logistics operations and drive cost savings. With Kuebix, you can even add order and route optimization for maximum efficiency. This technology empowers behavioral changes leading to dramatic cost savings. Kuebix’s Dock Scheduler even provides predictive learning to adjust scheduling estimates based on actual results and behaviors. Using technology to increase operational efficiencies can help even the most complex of supply chains stay informed and be prepared for the future!