Gartner just recently published its Cool Vendors in AI for Supply Chain report, recognizing ClearMetal as a leading supply chain visibility provider for its AI and machine learning capabilities. Ironically, it wasn’t predictive analytics or end-to-end visibility capabilities that garnered the accolades; rather, it was the work ClearMetal is doing to solve the supply chain “data problem” that caught the analysts’ eyes.
Digital transformation has become a central theme in the supply chain and logistics industry. Again and again, digitization and data are the most discussed topics at industry events, panels and networking conversations. Amongst the optimism and excitement, we are challenged to find transformation success stories.
There is no doubt that supply chain success is synonymous with operational excellence. The more efficient, agile, and responsive a supply chain is the better it performs and the more satisfied customers are. However, the key to an agile supply chain is to be data-driven, and for this, good data is necessary. Good data provides better visibility which in turn provides better insights for better decisions.
Supply Chain Visibility is defined as a solution that gives a clear, end-to-end view of the movement of inventory and is a prevalent topic in the industry and has been for some time. Supply chain visibility solutions enable proactive decision-making and effective risk management. Specifically, it provides the data and metrics necessary to improve and control process around ordering, inventory, partner relationships, customer service, and risk.
H&M's CEO called out that the retailer is in the midst of a digital transformation, but recently H&M was the latest victim of a lack of supply chain visibility, reporting a 61% drop in quarterly profit due to bloated inventory. That 61% drop in profit stemmed from a 7% increase in inventory. Enough to drive down shares of H&M 6.4% in one day. That digital transformation initiative is going to need to ramp up as H&M now finds itself playing catch up to get a better handle on inventory management. Being reactive - instead of proactive - is a losing game.
Artificial intelligence is becoming an increasingly vital part of supply-chain management - even though many companies aren't ready for it. Adam Compain, founder and chief executive officer of ClearMetal, talks about what they must do to come up to speed with this innovative technology. [Run Time (Min.): 8:11]
The role of AI in global logistics: defining the terminology, understanding the opportunities. Adam Compain joins Adrian Gonzalez on Talking Logistics.
The most pressing need for service providers today is finding ways to better serve shipper customers. AI and machine learning enable terminal operators, 3PLs and freight forwarders to deliver greater services through visibility and predictability. Here’s 90 seconds from ClearMetal CEO Adam Compain on the potential value opportunity that exists for service providers.
Predictive logistics is founded on AI and machine learning. But barriers exist, preventing deployment and innovation. This white paper topples misconceptions around AI and machine learning to help the shipping community unlock the power of predictive logistics.
A reporter recently asked me how, in my view, the shipping industry would make money in the coming years. The question caused me to reflect on how this might have been answered just ten or five years ago versus today. In the past, growth came from scale: mega-ships, port infrastructure, and buffer. Today, the answer is very different: shippers and service providers must operate smarter, not bigger. This is where profit will be made, and where the leaders will separate from laggards.