Soham Chokshi, Founder and CEO, Shipsy shares insights on how AI helps tackle the logistics challenges posed by COVID-19 by bringing visibility to the entre supply chain
Implementing Artificial intelligence (AI) is allowing companies to see more clearly in a post-COVID world. A study by Deloitte highlighted that 79 per cent of manufacturers intend to increase their AI investment in the upcoming years. AI empowers businesses to quickly act upon actionable insights drawn from multiple sources such as point-of-sale systems, social media, eCommerce orders, etc., to carve out future demand. AI helps supply chain stakeholders determine the demand for specific products and stock inventory accordingly.
AI and data analytics put together can bring visibility to the entire supply chain. It could limit disruption, minimise under- or over-stocks, and boost profitability. Besides, AI-led automation can trigger a notification with various stakeholders like warehouse managers and end-customer alerting to take relevant actions. Data say that nearly 47 per cent of customers change their preferred store if the product they are interested in is running out of stock. A notification saying that the product is back in stock can inform the customer and remind them to purchase it, just like Amazon does for waitlisted products. Smart logistics management platforms are powered by AI algorithms that significantly reduce transportation risks by accurately predicting exceptions, emergencies and chances of theft when shipping COVID-related medical kits and vaccines. AI’s role in revolutionising the logistics ecosystem post-pandemic era is inspiring businesses across the globe to take a leap and embrace digital transformation.
Leveraging technology to counter the COVID-19 pandemic
Although in different guises, technology is already doing its job in fighting the pandemic. Some technologies are working to disseminate the correct information to the masses via intuitive and integrated chatbots. Others are carrier identification and self-assessment-based contact-tracing apps.
Automation is supporting human efforts from behind the scenes during this time. Advanced virtual tools are helping the workforce collaborate while they work from home. Online platforms are obliging our essential and non-essential needs. AI-powered tools empower pharmaceutical companies to quickly transport vaccines even in the most remote corners of the world by driving predictive intelligence, planning highly efficient routes, ensuring smart management of logistics partners, and mitigating transportation risks.
AI on centre stage during COVID-19
The biggest challenge with the COVID-19 is that our enemy is microbial. You can not see it with bare eyes or, say, without augmented apparatus, which puts human lives at risk. Keeping a distance is the key to fighting it. That is where technology or AI comes in.
In fact, AI technologies and tools play a key role in responding to the COVID-19 crisis in multiple possible ways. From helping decode the COVID-19 genome to accelerating medical research on treatments, AI is helping with it all. It is also helping in slowing the spread of the contagion through AI-powered intelligent surveillance systems and contact tracing apps like Arogya Setu. Such apps are also effective in syndromic mapping, helping healthcare organisations gauge the demand for COVID-critical equipment, monitoring recovery, and improving early warning systems. Moreover, AI-powered smart logistics platforms are facilitating on-time, contactless and temperature-controlled distribution of vaccines.
How AI solutions are facilitating on-time deliveries of COVID-relief equipment
An AI-powered smart logistics management platform can ensure on-time, in-full deliveries of vaccines. It is only the need and frequency of usage that have gone up during this time.
The best part is that such platforms come powered with AI and house a bouquet of AI-backed technologies such as ML, data analytics, etc. When put together, these technologies give birth to numerous capabilities and sophisticated features, and dynamic route planning is one of these. It automatically gauges several parameters such as weather, on-road challenges like traffic congestion, roadblocks, preferred delivery time slots, etc., to plan and continuously optimise delivery routes.
Such features especially come in handy to tide over unprecedented events, like the current pandemic, as in some cases, containment zones prohibit vehicular movement in an area.
AI, along with data analytics, also predicts the demand for COVID-related equipment in specific geographies. In case of urgent vaccine requirements in a particular locale, AI-powered logistics platforms can quickly onboard delivery partners based on their historical performance and auto-dispatch vaccine delivery jobs. This capability eliminates the manual downtime that comes with analysing tediously long data sheets and selecting a logistics partner, further increasing on-time delivery volumes.
Source : Express Pharma