Tag:

AI

Launch of the Supply Chain Prompt Contest

by Editorial Team September 21, 2023

Generative AI, in particular Chat GPT, can be a valuable tool to supply chain, procurement and logistics professionals.

By using natural language processing, it can provide quick and efficient support to your suppliers, customers or partners. It can also help with route optimization by analyzing shipping data and making suggestions to improve delivery times and reduce costs.

Chat GPT can also be used to automate tedious and repetitive tasks and help improve communication within the supply chain organization by allowing all parties to access real-time information, reducing the risk of miscommunication and errors.

We are thrilled to announce the launch of the Supply Chain Prompt Contest!

As a valued member of the supply chain community, we would like to invite you to participate and showcase your expertise in this exciting competition.

We are seeking innovative and useful prompts for ChatGPT, Bard or Bing, specifically tailored for the supply chain, procurement and logistics profession.

By submitting your prompts, you stand a chance to win free memberships to the Global Supply Chain Council (GSCC) and have your winning entries published in our SupplyChains magazine.

Submit your best prompt today on http://chainte.ch/prompt

September 21, 2023

Utilizing Artificial Intelligence’s Potential: A New Era in Supply Chain Management

by Editorial Team September 21, 2023

Supply chain management is not an exception to how artificial intelligence (AI) is transforming businesses throughout the world. Supply chain management could benefit from the efficiencies, cost savings, and streamlined processes that artificial intelligence (AI), a technology that allows robots to mimic human intelligence, can bring about. This has been prompted by the increased requirement for companies to react swiftly and successfully to the constantly shifting market conditions.

The Transformation of Supply Chain Management: The Role of AI

Aspects of the supply chain are being transformed as a result of AI. The effects of AI are wide-ranging, affecting everything from planning and sourcing to production, delivery, and returns.

Planning: Predictive analytics enabled by AI aid businesses in more precise demand forecasting, which enhances inventory management. Companies like Amazon, for instance, are using AI to predict customer demand and make sure the proper products are always in stock.

Sourcing: AI is being used to evaluate supplier performance, evaluate risks, and find cost-saving options. This aids companies in creating supply networks that are more reliable and economical.

Manufacturing: Predictive maintenance, which reduces machine downtime by foreseeing breakdowns, is one way AI is boosting productivity in the industrial sector.

Delivery: Delivery logistics are being transformed by AI. AI-powered autonomous vehicles and drones are now used for deliveries, increasing efficiency and lowering human mistake rates.

Returns: AI can help businesses automate their return procedures, cutting down on the time and expense associated with processing returns.

The advantages and disadvantages of AI in supply chain management

Despite the enormous advantages of AI in supply chain management, its implementation has its own set of difficulties. One the one hand, AI has the potential to greatly increase operational effectiveness, lower costs, and boost customer happiness. Additionally, it can assist businesses in swifter market adaptation, strengthening the resilience of their supply networks.

But there are challenges involved in incorporating AI into supply chain processes. It needs a substantial investment and a personnel with expertise in AI technology. Additionally, organizations must manage the ethical and privacy issues raised by the usage of AI.

The Role of AI in Supply Chain Management in the Future

In the future, supply chain management will increasingly rely on artificial intelligence (AI). In fields like real-time tracking, risk management, and sustainable sourcing, we may anticipate seeing a growth in the application of AI. Furthermore, the growth of AI will probably encourage the creation of new business models in the supply chain sector.

In conclusion, it is undeniable that AI will influence supply chain management in the future. Businesses can enhance their operations and obtain a competitive edge in the market by utilizing its power. However, in order to fully profit from AI integration, businesses must handle the difficulties that arise.

The AI revolution is only getting started in the field of supply chain management, and the opportunities are unlimited. Those who are willing to adopt this revolutionary technology will definitely find the future to be full of exciting opportunities.

We hope that by offering insights into how AI is affecting supply chain management, this paper will serve as a useful resource for anybody looking to comprehend this quickly changing environment. We are excited to follow this journey and report on it as the further development of AI technology promises a new era of efficiency and innovation in supply chain management.

September 21, 2023

AI in Simulation & Supply Chain Management

by Editorial Team September 21, 2023

In this episode, Marc Giombetti and Yashar Ahmadov explain simulation and its importance in supply chain management. Simulation provides value for what-if analysis and allows for accuracy of over 90% and changes can be made to factors like equipment or supply chain redesign. The novelty in simulation is its complexity and its ability to be stochastic. AI can help accelerate the development of simulations and can be integrated with outside applications like optimization algorithms. Eventually, AI models may be able to decipher ambiguous requirements and build solutions. Reinforcement learning can also help simulations learn from past mistakes and adjust behavior for better decision-making.

💡 Simulation provides value for what-if analysis and allows for accuracy of over 90%.
💡 AI can help accelerate the development of simulations and can be integrated with outside applications like optimization algorithms.
💡 Reinforcement learning can also help simulations learn from past mistakes and adjust behavior for better decision-making.

September 21, 2023

Top Supply Chain AI Startups in Asia

by Editorial Team September 20, 2023

Artificial Intelligence (AI) has emerged as a game-changer in the supply chain and logistics industry.

By leveraging machine learning algorithms and advanced analytics, AI technologies empower organizations to optimize operations, enhance efficiency, and drive cost savings. From demand forecasting and inventory management to route optimization and risk mitigation, AI holds the potential to transform traditional supply chain practices. In Asia, a hotbed of technological innovation, numerous startups have emerged as leaders in AI-driven supply chain solutions.

Let’s explore some of the startups that are revolutionizing the industry:

NextBillion AI

Founder: Ajay Bulusu, Gaurav Bubna, and Shaolin Zheng
Year Started: 2018
Funding Raised: $7 million
Key Clients: Maersk, CMA CGM, ZIM Integrated Shipping Services
Homepage: https://www.nextbillionai.com/

NextBillion AI, headquartered in Singapore, focuses on AI-powered solutions for the maritime industry. Their platform leverages computer vision and deep learning to automate maritime processes, such as container tracking and anomaly detection. By harnessing AI, NextBillion AI aims to enhance operational efficiency, optimize port logistics, and minimize human error in the maritime supply chain.

Pando

Pando is an AI-powered platform that connects shippers, carriers and logistics service providers. Pando helps them optimize their operations, reduce costs and improve customer satisfaction. Pando uses machine learning to analyze data from various sources and provide insights, recommendations and automation for end-to-end supply chain management.

Founder: Nitin Jayakrishnan
Year started: 2017
Funding raised: $30 million
Key clients: Unilever, Britannia, Tata Steel, Asian Paints
For more details about the solutions, click here.

LogiNext

LogiNext, a Mumbai-based startup, combines AI and big data analytics to offer end-to-end logistics optimization solutions. Their AI-driven platform provides real-time tracking, route optimization, and resource allocation, enabling companies to enhance delivery efficiency, reduce costs, and improve customer experiences. LogiNext’s comprehensive suite of tools caters to various industries, ranging from e-commerce to field services.

Founder: Dhruvil Sanghvi and Manisha Raisinghani
Year Started: 2014
Funding Raised: $50 million
Key Clients: Flipkart, Myntra, Decathlon, McDonald’s
For more details about the solutions, click here.

Locus

Locus is an India-based startup that specializes in AI-powered logistics optimization. Their platform leverages machine learning algorithms to provide real-time visibility, automated dispatches, and route optimization. Locus assists businesses in streamlining operations, reducing costs, and improving overall efficiency in logistics and supply chain management.

Founders: Nishith Rastogi and Geet Garg
Year Started: 2015
Funding Raised: $79 million
Key Clients: BigBasket, Bluedart, Tata Group, Swiggy
Homepage: https://locus.sh/

Ezyhaul

Ezyhaul is an AI-enabled digital freight platform that connects shippers with carriers across Southeast Asia. Ezyhaul helps shippers book, manage and track their shipments online, while helping carriers optimize their capacity utilization and reduce empty miles. Ezyhaul also leverages AI to provide dynamic pricing, smart matching and data-driven insights.

Founder: Raymond Gillon
Year started: 2016
Funding raised: $16 million
Key clients: DHL, DB Schenker, CEVA Logistics, Ninja Van
Homepage: https://www.ezyhaul.com/

The aforementioned startups exemplify the innovative solutions emerging from Asia, leveraging AI and machine learning to optimize various aspects of the supply chain.

When evaluating AI-driven supply chain solutions, consider factors such as the startup’s industry experience, track record, scalability, and ability to integrate with existing systems. Additionally, ensure the solution aligns with your specific business needs and provides a clear return on investment.

For more supply chain technology solutions, visit ChainTech marketplace.

September 20, 2023

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