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Application of Artificial Intelligence and Internet of Things in Supply Chain Management
Application of Artificial Intelligence and Internet of Things in Supply Chain Management
During the pandemic, supply chain sectors have experienced labor shortages, increased demand and over-ordering. Managers naturally look for technological solutions to increase productivity and automate the distribution process.
31.52% of supply chain executives adopt robotic technology to achieve efficient distribution, rapid sorting and manual assistance. After the epidemic, as the logistics industry gradually rebounds, automation has surged in small-scale industries, with 5,000-6,000 robots produced every year and deployed at various stages of the distribution process. Therefore, the Indian logistics automation market is expected to grow at a CAGR of 16.2% from 2023 to 2028.
Artificial Intelligence and IoT-Powered Robots in Supply Chain Management
Warehouses and logistics centers are filled with time-consuming and labor-intensive daily tasks and dangerous missions. Although AI robots require human workers, they can automate repetitive tasks and allow workers to focus on high-value duties.
The robots navigate on a defined grid to avoid collisions and move between two locations - a loading point and an unloading point. They are small, compact and space-saving, increasing sorting efficiency by 10 times while reducing the margin of error.
These small haulers may include pneumatic arms with IoT sensors and next-generation software to provide load-handling capabilities. The integrated software represents industry-defined sorting capabilities such as destination, volume, weight and type of packages the robot must carry. Their modular architecture helps scale operations up or down based on business needs.
Directed picking, sorting and unloading helps accurately process orders, speed up cycle times and minimize errors. Additionally, their high-speed packaging analysis technology facilitates volumetric weight acquisition, automated volume measurement, and enables turnover rates of up to 3,000 packages per hour.
AI and AI-enabled bots simplify storage management and order consolidation processes. As products enter the warehouse for storage, these smart robots hand the shelves over to operators, learn good movement frequencies based on date, time, traffic and promotional offers, and sort orders based on delivery priority.
These bots automate the entire process! Starting from order picking, sorting and storage to distribution shipment thereby reducing manpower.
How can robotics help improve ROI?
According to the McKinsey report, cost reduction is a key driver for the adoption of automation in the supply chain sector. The robot has a duty cycle of 80,000-100,000 hours, is trouble-free, and maintains efficiency without the need for any upgrades or other expensive installations. They reduce cycle times by 15% compared to manual processes and can complete up to 500 standard cycles per minute, saving time and manpower.
Benefits of robotics in supply chain management include accuracy, improved employee morale, productivity, reliability, consistency, compliance and low technical barriers. They are precisely programmed and functionally verified to ensure consistent guarantees and extremely high processing speeds.
Robots comply with business regulations and interact with software interfaces to minimize program errors and improve consistency, cost-effectiveness and compatibility.
55% of supply chain executives say robots have improved the quality of their daily work. They increase productivity through R&A, achieve greater flexibility, ensure the safety of hazardous tasks and reduce the burden on employees. In this way, they address labor shortages, enhance capabilities, and increase brand recognition.
Because robots require no vacation time or wages, they are cost-effective in the long run, regardless of the upfront installation cost. Therefore, they provide a higher return on investment and promote business growth.
Final Words
Artificial intelligence, artificial intelligence and robotics cover the cutting-edge technologies that the supply chain industry must leverage to prepare for the post-pandemic Evolving consumer behavior. A Deloitte study says autonomous robots will become ubiquitous over the next five years, especially in supply chains, due to increased efficiency, reduced risk of injury, higher worker productivity and lower error rates.
They will reduce long-term costs by providing labor and utilization stability, optimizing picking, sorting and storage processes, and reducing the frequency of manual inventory checks. They will also improve data collection and take advantage of new opportunities to meet customer expectations through order consolidation, storage, priority-based shipments and on-time delivery.
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