The last few years have seen an explosion in products using artificial intelligence (AI) and machine learning (ML) to improve supply chain processes. The technology is transforming logistics, helping companies to improve efficiency, cut costs and grow their businesses.
Traditional logistics processes often involve complex networks and vast amounts of data which can be nearly impossible to manage manually. AI and ML applications streamline planning and execution by automatically analyzing massive historical and real-time data sets to identify patterns, optimize routes, and predict demand,
Importantly, AI applications can learn from past experiences to continually improve performance and adapt to changing conditions, helping businesses deliver shipments to the right place at the right time, even as supply chain uncertainty becomes the norm.
Through a machine learning capability known as predictive analytics, these technologies can predict customer behavior, market trends and external factors such as weather patterns, making your company even more agile and efficient.
A growing number of logistics companies are incorporating AI platforms into their workflows.
One common workflow is AI-powered route optimization software, which optimizes delivery routes of drivers, saving companies time and money as well as reducing carbon emissions.
Container shipping companies are investing in AI to track shipments, analyze data from multiple sources and predict potential disruptions in the supply chain.
At ITG, we’re constantly evaluating new AI and ML platforms. We understand the world is changing and that leveraging new capabilities is key to staying competitive in the marketplace.
At the same time, you can rest assured that we continue to place a premium on relationship building. AI and Machine Learning technologies won’t replace our personalized interaction with clients, but their capabilities can help deliver on our goals of growing and adding value to your business. To find out more, reach out to us today.