AI in Supply Chain Examples
The supply chain and logistics management field has undergone tremendous changes due to the use of AI, increasing visibility, efficiency, and optimization. The market for AI in the supply chain was valued at 5,610.8 million USD in 2021. This is expected to rise to 20,196.6 Million by 2028, according to a study by BlueWeave Consulting.
A survey by Statista has shown that around 38% of companies will consider AI a critical component of their logistics operation by 2025. A significant number indicates that businesses now understand the benefits of using AI in supply chain management.
How is AI in Supply Chain used?
The use of AI in the supply chain is multipronged. It is used in inventory management to ensure the proper flow of goods into and out of warehouses. AI-based tools are also used to ensure material and personnel safety.
AI in the supply chain can process a large amount of data in a minimal time. AI in the supply chain allows businesses to make informed and proactive decisions quickly. This is especially crucial in today's supply chain marketplace, where efficient and speedy delivery is everything. AI solutions also can manage deliveries, predict demand, improve the efficiency of the supply chain, minimize costs, and improve safety.
AI in Supply Chain examples
Mojro is one of the best companies using AI in supply chain management and optimization of logistics processes. It uses advanced logistics intelligence to optimize the flow of goods from one point to another. This AI-powered logistics solution offers businesses the optimization of delivery routes and loads in a single step using the PlanWyse solution.
Mojro also uses AI in the supply chain to develop delivery plans considering 120+ business constraints. Mojro's PlanWyse also comes with What-if modeling that enables businesses to make informed logistics choices based on the data obtained by considering different business variabilities with fluctuating demand conditions. PlanWyse, an AI-powered solution, optimizes loads and routes efficiently depending on the daily demand variations. It also offers 6-D optimization by optimizing cost, volume, time, distance, weight, and activity effectively and quickly. Businesses can also accomplish more efficient territory-based, multi-leg, and continuous planning with AI-powered PlanWyse.
Mojro's Geowyse is yet another AI in supply chain examples. One of the leading causes of last-mile delivery delays businesses face is incorrect addresses. Geowyse utilizes an AI-powered phase analytics engine that facilitates reliable address resolution. Bulk addresses are resolved swiftly, so businesses can deliver on schedule and provide top-notch customer service.
AI in the supply chain has played a crucial role in modernizing supply chain operations and making them efficient and sustainable. Companies can use AI-powered logistics solutions like Mojro to make their supply chain operations efficient, reduce logistics expenses, and improve profitability.
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