AI and smart analytics will redefine the future of logistics supply chain
New Delhi: Mr Feroz Khan, Partner Digital Advisory, KPMG yesterday said, “Smart logistics powered with Artificial Intelligence will redefine the supply chain excellence.” He added, ‘The transport and warehouse management enabled with advanced data modelling and business constraints are leading to improvement in contribution margin and serviceability.”
Addressing a FICCI webinar on ‘Artificial Intelligence and Smart Logistics’, Mr Khan said, ‘Technology is disrupting the logistics sector and with Artificial intelligence being a significant part of day to day functioning, it is going to transform the industry.”
Mr Praveen Gosain, Director – Supply Chain, Corning Technologies India Private Limited said, “The industry is leveraging technology for optimizing results.” He stated, “COVID-19 has shown us that we should know the depth of the supply chain, and should have an end to end visibility, along with integrated planning tools like comprehensive data platforms and advanced analytics.”
Speaking on how AI can help the logistics sector to maintain the continuity of operations and resilience during the adverse times, Mr Sharmil Shah, Founder & CTO, Tacto, and Chief Technology Officer, Delivery Solutions said, “Artificial Intelligence provides predictability and prescription to the logistics sector. It makes the processes more predictable with information, and prescriptive with analytics, and provides the best solutions.”
Mr Rahul Banerjee, Vice President & Head – Corporate Affairs, Quess Corp Limited said, “AI-based technology and new skilled workforce is the future of Indian logistic industry.” He further mentioned that upskilling and up-gradation of manpower are required so that they can adopt the technology. It will help in enhancing the productivity of manpower as well.
Mr Nirvan Biswas, Chief Technology Officer, National Bulk Handling Corporation said, “The logistics industry is expected to grow at 10.70% CAGR between 2020- 2024.” He added, ‘Robust Information Architecture based decision making is the main reason behind the success of the logistics industry during the COVID-19 situation.”
Mr Arun Budakoti, Industry Head, Transportation – Digital Transformation Office, Cisco India said, “In the ecosystem of smart logistics, data analytics and Artificial Intelligence helps us identify the best cost-efficient medium to connect a remote site.”
Mr Dilip Chenoy, Secretary General, FICCI, said, “Just like Y2K provided India with an opportunity to expand in the IT sector, COVID-19 has provided us with an opportunity to expand our horizons in the emerging technology sector.”
The interactive session was witnessed by more than 250 participants across various platforms.