Has your supply chain implemented advanced technologies such as 5G, IoT, and AI algorithms for predictive analytics? If so, have these implementations led to significant improvements in efficiency, cost reduction, and real-time tracking of inventory and shipments? Please share your experiences and insights.
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Program Manager II in Healthcare and Biotecha year ago
That is interesting, thanks for sharing with us.
Foundera year ago
Good question. Yes, the implementation of advanced technologies in supply chains has been here for a while now. For example,
The AI algorithms for predictive analytics and supply chain optimization (inventory, real-time tracking, replenishment) have shown significant improvements and, in some cases can save 20%-30% of annual inventory costs.
When it comes to real-time tracking of shipments and last-mile delivery route optimization, it also shows significant improvements in unnecessary time wasted and increased customer satisfaction with knowing where are their products on the routes and when are the expected deliveries. The result depends on each company's operations but the savings can be converted equivalent to 10%-15% of annual logistics/transportation cost-saving.
However, those solutions may not be on the same platform. Inventory optimization usually is an internal platform and the shipment tracking platforms mostly belong to third-party logistics providers, unless your company also runs your own transportation/logistics fleet then you could integrate the real-time tracking shipment into your system for an overview tracking/monitoring system.
Hope that helps.
Program Manager II in Healthcare and Biotech10 months ago
Absolutely, the impact of advanced technologies on supply chains is significant. From AI-driven predictive analytics to real-time tracking, the improvements are substantial, leading to substantial cost savings and enhanced customer satisfaction. Appreciate your insights!
Supply Chain Manager in Services (non-Government)a year ago
Not yet , But I have submit a proposal to a company to monitor the full supply from loading to unloading on project side , the whole process should be monitored by putting/integrating Vehicle GPS tracking system in the current ERP system.Program Manager II in Healthcare and Biotech10 months ago
Looking forward to your experience. :)
Director of Operations10 months ago
I am not aware that we are pursuing any of these technologies. Perhaps IT is leading some efforts, but the operations and supply chain are not involved in any projects related to 5G, IoT, or AI algorithms... yet.
In addition , this can be very productive in decision making specially Retail business . But one thing must be made to put the data via IoT devices, as human makes errors