Automated Inventory Monitoring
AI is giving an insight on how the companies can change the face of this whole wide world by using eliminating the use of any of the inventory checking manually. It focuses on automation in a manner that the company can use its manpower and resource somewhere thereby adding to productivity. This enables even a facility manager to keep a track of a product in real-time without even putting efforts manually. Everything is just a click away or a pocket away from them. Smartphone and AI are surely bringing out the change for them.
Continuous Improvement Process
Great merchants and marketers measure everything and do post mortems of their promotions and results. Do an assessment. Work out a plan. Set objectives and accountability for improvement, review progress and start again.
Machine Learning
Machine learning is influencing factor of the key applications and software used by companies. It has made the complex task of analysing bulk data simple and added a lot to its accuracy helping improve the forecasting of demand and supply chain. In addition to this
simulation technology is offering enterprises the convenience and opportunity of data modelling in real-time easy allowing AI to analyze the statics and track it over time. house.
Simplify Processes – Reduce Touch Points – Reduce Costs
Over the years, have you been layering new functions over longer term existing ones? Do product flow and order flow no longer make sense and crisscross the floor? Take a fresh look at the physical processes and steps involved in product flow and order fulfillment. Generally speaking, less steps equal fewer touches equal lower costs.
Clearly Defined KPI’s
Does your operation capture and manage critical KPIs? Do you know your critical productivity and costs on shipped orders, cost per box and cost per line shipped? How can we assess and put in place cost reduction measures if we don’t know the baseline? What do various types of errors cost? What do returns cost? Once these things are established, THEN create regular feedback to the employees on individual and departmental performance. They’ll respond and give you higher productivity.
Inbound Supply Chain
Changes to supply chain include scheduling inbound purchase orders to manage the receiving dock and yard better. Develop vendor compliance policies, including purchasing terms and conditions, on-time delivery, quality and item specifications, routing guides and importing guides, product packaging and labeling and drop ship vendor standards. Push quality and value-added services up the supply chain to the vendors so the product is ready to be put away or shipped. This reduces labor for rework of mistakes.
Voice-Enabling Technology
Some vendors reduced the costs to make this technology available to all different sized businesses. Voice enabling can be applied to all processes and departments – from receiving to shipping and returns – for better inventory control and increased productivity. These systems have quick install times, require no IT or modifications to your WMS, don’t require extensive training and have a fast ROI – as quickly as four to six months. Do your due diligence though, because not all voice applications are created equal.
Data Mining
For the B2B or B2C companies, there was a time when customer relationships were defined with the personalization. However, now the market is evolving at a fast pace that has brought a lot of changes in the supply operation of a company and demand of a customer. Now everything has gone beyond the standard personalization for a customer in a more advanced format. The industries and manufacturers are now predicting and imposing products as per customer requirements and demands for future. Data mining has now made it possible for a customer to analyze and mine the data at a fast speed that was never seen before. This has allowed companies to see the insight to a customer demand in a much better way and then optimize their products accordingly.
Robot Automation
There are companies that are actually using the robot to check and re-stock their inventories. It can be in the form of a robot machine or a real robot that is based on the AI technology. It has the ability to change the system and integrate the perspective of taking out and fulfilling an order in a much better way.
Robots are now used to do all the tasks in a less duration. They are performing higher frequency work providing more value and exception to the company by driving values in any business. They are used to pick out order and move them as per the facilities, cognitive learning system, sensors that allow them to understand the quality or the product and stock it, and the algorithm that guide the operation.
