In a world where technology is heavily implemented into most industries, it’s easy to assume your business is already running at top efficiency. In reality, many freight and logistics organizations still heavily lean on manual processes including paperwork, phone calls and “snail mail.”
Outdated manual processes like these result in long wait times and human error, directly contributing to supply chain issues such as inventory shortages and price fluctuations among others.
Various efforts have been made to limit human error and shorten processing times, but none as accurate and accelerated as Intelligent Automation (IA).
IA is advanced machine-learning technology that can be implemented into software and mobile apps used by all supply chain professionals creating a connected and efficient network between 3PLs, factors, carriers, shippers and drivers. When implemented, IA eliminates human error and lengthy processes – tightening up the entire supply chain to prevent delays and shortages.
Let’s take a closer look at the inner workings of IA
AI, along with contextual search, language processing, neural networks and other evolving technologies are creating more operational agility within the supply chain like never before. The advanced tech in IA gives businesses the ability to customize their digital workflows, which increases efficiencies and speed. Supply chain organizations are already adapting faster, expediting their revenue growth, and delivering superior partner and client experiences.Looking at the financial transactions taking place in the transportation industry today, there are a variety of documents that need to be processed and exchanged between partners. IA’s machine learning possesses the intelligence to identify, classify, extract and organize all “paperwork” digitally – even the more complex unstructured documents like PDFs, handwritten notes, and emails.
This reimagined digitization and automation equate to a significant economic impact that is already positively altering businesses of all sizes, as well as the state of the entire industry. As more professionals adopt IA technology, we will continue to see a stronger and more connected ecosystem in freight. When 3PLs, carriers, shippers and factoring companies are all reaping the financial and time-saving benefits of IA, a bigger opportunity presents itself to eliminate major hot-topic issues like freight delays, inventory shortages, and more.
As we continue to learn more about IA and expand its abilities, we see incredible opportunities to analyze and mine data. IA data is worth harvesting and contains high-value potential. Extracting, processing, and merging data connects the front and back offices. This allows for visibility into unseen patterns and hidden insights that can be used to make smarter organizational decisions, better understand customer behavior, and increase profits.
IA’s streamlined processes and ability to raise the bottom line for businesses across the transportation industry are exciting on their own. However, the widespread adoption of IA and unboxing the power of data are what can enhance an entire industry.
With man-hours freeing up in back offices due to automation, companies who’ve adopted IA can reallocate employee time away from tedious tasks like paperwork and phone calls to analyzing data and growing the business.
When the industry begins tapping into and unlocking data on a wider scale, we’ll be looking at a transformed supply chain with reduced friction, minimal delays and the strongest connected ecosystem of partners around.
