Supply chain companies can leverage AI-powered software to drive efficiency, innovation, and results in the e-commerce era.
When today’s consumers order a product online, they expect it to be customizable, trackable, and to arrive promptly. These demands are driven by the e-commerce boom, which eMarketer reportsgenerated $2.304 trillion in retail sales worldwide in 2017, and, according to the Department of Commerce, makes up nearly 10 percent of retail sales in the U.S.
That means big pressure for supply chain companies—and big changes. The question is, how can logistics centers react nimbly to these demands? It can be hard to cost-effectively revamp an industry that’s so grounded in the physical world.
The answer lies in a software-centric approach powered by artificial intelligence (AI). Hardware is only as effective as the software behind it—and the beauty of software is that it can be upgraded continually. Even better, AI-powered software delivers advanced operational optimizations, such as predicting seasonal trends or re-allocating workers to maximize output. The potential benefits are sizable: Gartner predicts that by 2021, AI augmentation will create $2.9 trillion in business value and recover 6.2 billion hours of worker productivity.
Source: Industrytoday ; Dated: October 30, 2018