Utilizing AI to Cut Costs: 5 Strategies for Logistics Firms Beyond ChatGPT!
Transforming Logistics and Supply Chain Through No-Code AI Solutions
Artificial intelligence (AI) is poised to revolutionize the logistics and supply chain sector, thanks to increased accessibility provided by no-code and low-code solutions. Although 21% of organizations currently utilize AI tools, high implementation costs often deter smaller companies from investing. However, these new technologies offer affordable methods for automating documentation processes, making them attractive alternatives for businesses seeking a competitive edge.
According to McKinsey, low-code application development is expected to account for over 65% of application development by 2024. By streamlining documentation processes, no-code AI solutions can help smaller logistics companies reduce IT expertise requirements, accelerate development time, and adapt swiftly to changing business demands. The following use cases highlight the benefits AI can bring to non-technical users in the logistics and supply chain industry:
- Recognizing Document Types: Manually determining document types, such as invoices or customs forms, is time-consuming and labor-intensive. With AI, platforms like DocuWare and Abbyy can automatically classify and categorize documents, saving considerable amounts of time.
- Automatic Data Extraction: Once a document type is identified, extracting relevant data can be swiftly automated. Tools like UiPath and Automation Anywhere can intelligently extract data from various documents, expediting the data input process for applications or databases.
- Custom Data Extraction: While pre-built automation solutions may not cover all document types, AI can help create custom extraction rules for specific internal documents. With tools like Parascript and Hyperscience, logistics companies can save time and minimize errors when handling unique documentation.
- Document Comparison: Accuracy is vital in logistics and supply chain operations. AI tools can compare documents, like labels on packages or customs forms, to minimize errors, ensuring regulatory compliance and smooth operations. Solutions like Kofax and DeltaXML can automatically compare documents, saving significant amounts of time and reducing the risk of mistakes.
- Standard Operating Procedures: By streamlining the above processes, companies can establish efficient standard operating procedures (SOPs). These formalized workflows, enabled by AI automation, allow teams to concentrate on revenue-generating tasks while streamlining their logistics operations.
While AI automation can greatly improve efficiency and reduce errors, its accuracy depends on factors such as data quality, task complexity, and algorithm accuracy. It is crucial for logistics companies to carefully evaluate the accuracy of AI automation solutions before implementing them and establish backup manual processes as necessary. Continual monitoring and maintenance of the AI solutions are also essential to maintain accuracy and reliability over time.
Many no-code platforms such as monday.com, Asana, ClickUp, and Zapier offer an array of automation features tailored to the logistics and supply chain industry. By employing these user-friendly solutions, businesses can optimize their supply chain operations, increase efficiency, and obtain a competitive edge, all without requiring extensive IT expertise or a dedicated development team. Embracing AI automation can lead to improved productivity, reduced errors, better customer service, and ultimately contribute to business growth.
- Relevant Enrichment Data integration: The adoption of no-code and low-code solutions for AI-powered automation in the logistics and supply chain industry offers increased agility and accessibility, cost efficiency, enhanced operational efficiency, improved accuracy and forecasting, and adaptability and scalability.
- Supply chain management is poised to gain enhanced operational efficiency through the adoption of no-code AI solutions, particularly in the automation of documentation processes.
- By using AI-powered automation, businesses can integrate digital supply chain practices, streamlining processes, reducing errors, and increasing competitiveness in the logistics industry.
- Technology advancements, such as artificial-intelligence and automation, are transforming the finance aspect of businesses by reducing IT expertise requirements and accelerating development time in the logistics sector.
- The rise of low-code application development, predicted to account for over 65% of application development by 2024, could lead to significant growth in the business landscape, especially for logistics companies.
