Artificial Intelligence is the latest buzzword that is making rounds in the logistics sector. AI promises to increase efficiency, cut costs and minimize human dependency at every mile of the supply chain. It also claims to foresee your future orders, predict your consumer behaviour and track every resource available to your company. But how does AI actually work? Why should one believe in these claims? What else can the logistics sector expect now that we already see drones delivering our packages?
AI is a lot more than hi-tech robots and sophisticated last mile delivery. Depending on what stage of the supply chain it is used, it can help you in — accurately locating ambiguous addresses, identifying the ideal location for your next business hub, optimizing your vehicle fleet mix or grading the performance of your different resources.
For example, let us say you need to figure out the perfect site for your next warehouse. Now based on what sector you are operating in, you might have to consider the size, available infrastructure, distance from the market, government policies and various other business factors. The raw materials for your business might not be available on the site, the local people of the area might oppose an industry like yours and the water resource available next to the site might be contaminated. Fancy accounting for all these points based on human intelligence alone?
This is where AI comes into the picture. With systems that use deep learning and advanced algorithms to incorporate various business rules & fuzzy real-world scenarios, AI-enabled engines are optimizing supply chains of virtually every industry to cut logistics cost and save precious time.
However, the most important aspect of AI is not the time saved, the costs cut, or any other tangible benefit that it provides to a supply chain. The real value of AI is in the aid it provides to the top management of the logistics industry in making better business decisions. Using historical data for future projection, AI can unlock many secrets when it comes to optimizing your resources or understanding your customers. The future belongs to AI, and those who understand and utilize its potential will edge over in this race towards automation.
Even though there are tons of material available which talks about the potential benefits of AI. It is always better to learn about the subject from some of the top industry leaders. To facilitate this, Locus is organizing a webinar, which will help you understand the various aspects in which AI can help you in supply chain decision making.
About the Locus Webinar
Topic: How Artificial Intelligence & Deep Learning Can Help In Supply Chain Decision Making
Date: Thursday, July 26th 2018
Time: 2:00 PM (EDT), 11:30 PM (IST)
Duration: About 40 minutes
You will learn from Supply Chain Decision Making Webinar:
- What is Artificial Intelligence & Deep Learning?
- How can these improve & optimize your supply chain decision making?
- What are the metrics that you should consider while making decisions in your supply chain?
- How can AI be an influence in providing you with the right information for decision making?
This post was authored by: Sreshtha Das