Automation in Logistics Will Set the Standard for 2021
Automation in logistics is a gold standard for supply chain efficiency. Through automation, warehouse managers can tighten labor resources, avoid excess carrying costs, and derive more value. The same applies to transportation management and technologies. Automation within dock scheduling, load execution, tendering, carrier invoicing, and freight settlement combine to create a superior shipment journey.
Machine Learning and AI for Analytics Will Uncover New Insights & Efficiencies
Machine learning and the application of artificial intelligence (AI) will empower freight managers with newfound insights and opportunities to reduce waste. Machine learning and AI are not just a static set of algorithms. Instead, they continuously learn from the experiences and activities that combine to form day-to-day operational excellence. As more data pours into these features, their value grows exponentially. With the massive challenges on the forefront of the supply chain, including an unprecedented COVID-19 vaccine distribution, the use of these core functions, as well as the four types of analytics that resolve inefficiencies, will be paramount to success in 2021. For reference, the four forms of freight analytics tell what happened (descriptive analytics), why it happened (diagnostic), what is likely to happen based on current conditions (predictive), and what is necessary to achieve the best result (prescriptive). Through the combined use of these analytics, machine learning and AI are on track to breathe new life into the supply chain.
Integration With Other Capabilities Will Empower Leaders With More Data and Savings
More data amounts to more value in the supply chain. However, raw data is useless when left in disparate systems and unable to be accurately interpreted. Data normalization and integration with newfound technologies and capabilities, such as machine learning and the analytic quartet, will give supply chain leaders additional ways to unlock barriers and streamline operations. Additionally, the use of APIs is rapidly becoming a new gold standard for integration. However, the continued use of EDI throughout the global supply chain requires additional integration functionalities that work across both old and new technologies. That’s a core value of the MercuryGate secure TMS.