Ai In Logistics And Supply Chain With Detailed Overview And Opportunity Assessment

By Author: AllTheResearch
Total Articles: 40
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AI is transforming global logistics and supply chain management. Merck, a well-known Pharmaceutical company in the US, deployed a suite of sensors coupled with machine learning predictive analytics software to improve its inventory and distribution efficiency. Dematic, a U.S-based Software company, acquired Reddwerks (a startup in WES space) to create its own WES based on Reddwerks’ Distribution Science, which is called Dematic Reddwerks. Dematic Reddwerks’ warehouse management operations are identifying efficient picking density for warehouse robots. Companies like Waymo, Rolls-Royce are coming up with driverless vehicles such as trucks and underwater ships which will speed up the delivery process, optimize routes, reduce human errors and accidents, work 24/7, and more. According to our estimates, the Global AI in Logistics and Supply Chain Ecosystem was valued approximately USD 1.7 Billion in 2018.
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AI helps streamline warehousing operations like inventory processing. It helps get useful insights from the data collected ...
... from logistics and supply chain, which in turn, can be used to streamline the entire logistics and supply chain ecosystem. Autonomous vehicles are another important offering to the supply chain and logistics industry from AI. Besides making driving safer, high-tech driving helps increase efficiency and lower fuel consumption.
AI and Big Data can help the logistics industry optimize future performance by accurate demand forecasting and capacity planning. When market expectations are predicted and tapped accurately, it goes a long way in bringing down operational costs. This, in turn, will help improve different areas of the logistics and supply chain ecosystem. The growing need for greater visibility and transparency in supply chain processes will increase the adoption of AI in logistics and supply chain ecosystem in the coming years.
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Companies like DHL Supply Chain has invested $300 million to modernize 60 percent of its warehouses in North America with the help of Artificial technology. This will reduce workflow interruptions in DHL and make logistics smoother. More than 4 million commercial robots will be installed in over 50,000 warehouses by 2025. Amazon, a leading E-commerce company, is expanding its delivery capabilities by launching Amazon's all-electric Prime Air drone, which is expected in 2020, for autonomous delivery of packages to customers. The company has hired 20 aircrafts to handle its 30mins delivery offer.
Several companies like UPS is using an AI-powered GPS tool called ORION for making efficient routes for its fleet and for making changes in real time to account for road conditions and other factors. By optimizing delivery efficiency, the company estimates that it will save $50 million a year. In retail clothing, brands such as Gap Inc. is using AI-assisted mechanical arms to help sort clothing orders. In North America and Europe, companies like Connecticut-based XPO Logistics Inc. has begun the roll-out of 5,000 intelligent robots throughout its logistics sites for bringing mobile storage racks full of products to workers who fill customer orders.
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