Supply Chain
PR Newswire | October 04, 2023
Last week, Noodle.ai, the leader in Supply Chain A.I., had its patent application filed for the core GPP technology underlying its new Generative Supply Chain Planning. The technology, which is probabilistic in nature, has the ability to drive dramatic increases in supply chain profitability and dramatic decreases in supply chain waste.
"We are convinced the GPP technology will mark a key milestone in the transition to a future of Generative Planning." said Stephen Pratt, Founder & CEO of Noodle.ai. "This is a once in a generation breakthrough to make material improvements in global supply chain efficiency and waste reduction."
Why is Generative Planning Revolutionary?
Traditional planning solutions have struggled to keep pace with the complexities and uncertainties of modern global supply chains. The existing deterministic approaches usually lead to sub-optimal, and often infeasible, plans. These plans are created by decades old stagnating technologies which create an imbalance between supply and demand, lower profits, and huge amounts of waste because remedial actions are often required to satisfy demand.
"This technology further grows our competitive advantage over other supply chain alternatives," said Mahriah Alf, Noodle.ai Chief Product Officer. "Generative Planning builds on the Probabilistic System of Intelligence currently driving our products and is a quantum leap forward."
Noodle.ai Generative Planning optimizes entire supply chains simultaneously through Large Graph Models (LGM) that continually learn and improve.
Hyung-il Ahn, Noodle.ai, Chief AI Scientist, says "Noodle.ai's Generative Planning incorporates cutting-edge generative AI technologies—such as attention-based graph neural networks (GNN), offline deep reinforcement learning (Offline RL), and probabilistic policy simulations. This potent combination generates dynamic supply action plans that are both feasible and network-wide optimized and consider time-varying supply chain objectives and probabilistic factors like demand, lead time, and production variabilities."
Generative Planning Results
Noodle.ai Generative Planning has shown extraordinary promise when tested using historical data from a North America-based consumer goods company with a complex supply chain network. Generative Planning simultaneously increased revenue and decreased costs by reducing out of stocks and lost sales by 75% and reducing excess stock by 20% with a corresponding inventory holding cost impact.
A Generative AI Solution that adapts to your ever-changing Business Objectives
Generative Planning can adapt to different corporate objectives, whether they are maximizing profits, service levels, minimizing risk, cost containment, or other metrics. By employing generative policy models trained on real-world network transition data, Generative Planning performs probabilistic simulations to create optimal supply plans that are tailoring to your corporate objectives and resilient to the uncertainties of today's global supply chains.
Availability
Generative Planning data science and data flow development are complete, and the broader application is being productized to ensure it meets Noodle.ai high standards of availability, security, scalability, and ease of use. Noodle.ai Generative Planning will be available to initial customers in Q1 of 2024 with an initial focus on demand and finished-goods distribution.
About Noodle.ai
Noodle.ai is currently a probabilistic system of intelligence that supercharges your current planning and transaction systems with the power of probabilities. Unlike traditional systems that rely on fixed rules and simplified assumptions, Noodle.ai uses cutting-edge AI/ML technology to conquer variability and improve your decision-making process. With risk-adjusted recommendations and automated workflows, you'll achieve unprecedented productivity, service levels, and cost savings in your supply chain.
With the productization of this patent-pending technology Noodle.ai will become a Generative System of Planning that allows customers to reduce the cost and improve the quality of their supply chain planning by replacing outdated systems.
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Software and Technology
Tive | October 13, 2023
Tive, a global leader in real-time, end-to-end shipment visibility solutions, has announced the selling of its one-millionth tracker. The company has revolutionized supply chain visibility, providing advanced technology that precisely locates shipments across all modes of transportation, empowering customers to monitor shipment conditions and take immediate action at any point during the shipment's journey. Since its inception, Tive trackers have generated 3.3 million real-time shipment alerts, safeguarding customer shipments globally and covering almost 6 billion miles of travel across road, air, ocean, and rail.
The attainment of the one million tracker milestone underscores Tive's steadfast commitment to fostering innovation and delivering substantial value to its global customer base. Tive has profoundly transformed the management of global supply chains across multiple industries by providing a comprehensive, real-time view of shipment movement and condition. Tive's cutting-edge tracking technology empowers businesses to preemptively identify and address potential issues in their supply chain operations by leveraging a combination of real-time sensor measurements, data science, and advanced analytics, leading to enhanced efficiency, responsiveness, agility, and customer satisfaction.
Its dedication to sustainability is exemplified through the Get Green program, initiated in 2020. The program has made significant strides, featuring a tracker rebate initiative to encourage tracker refurbishment and repurposing alongside measures to reduce Scope 3 greenhouse gas emissions, benefiting the environment and enabling customers to minimize emissions through enhanced supply chain visibility. This holistic approach reflects Tive's commitment to operational excellence and environmental responsibility.
Additionally, Tive's trailblazing introduction of the Solo 5G Non-Lithium tracker, the world's first of its kind, underscores its commitment to environmental stewardship. This innovative non-lithium tracker enhances supply chain visibility and contributes significantly to sustainability by eliminating lithium waste from landfills. The company's dedication to mitigating its environmental footprint extends to prioritizing non-lithium trackers, aligning with its core sustainability values. Komoni, emphasizing their conscientious approach, states, "Tive is extremely conscious of the effect that our business has on the planet." This unwavering commitment to addressing social and environmental challenges represents a top priority for Tive and its valued customers.
As Tive remains at the forefront of innovation, its mission is steadfast: to empower businesses of all sizes to optimize their supply chain operations, reduce costs, and elevate customer satisfaction. With an ever-expanding global network of partners and customers, Tive stands well-prepared to continue leading the charge in providing unparalleled visibility to supply chains worldwide, fostering efficiency and sustainability across industries.
About Tive
Tive, a real-time, end-to-end shipment visibility solutions provider, offers an indispensable service to over 600 leading global shippers, logistics service providers, and retailers. The company's trusted platform empowers businesses to monitor the real-time location and condition of shipments, providing vital insights to enhance operational efficiency and ensure superior end-customer satisfaction. It leverages cutting-edge cloud technology, proprietary sensor innovations, and round-the-clock Live Monitoring services to effectively mitigate excursions, reduce delays, minimize load rejections, and curtail theft, damage, and spoilage incidents. Tive's clientele relies on their expertise to guarantee every shipment's punctual and intact delivery, recognizing the paramount significance of each consignment in the broader supply chain industry.
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Supply Chain
Interos | September 22, 2023
Interos, the AI-first operational resilience company, has introduced an innovative solution, Catastrophic Risk visualization and monitoring. This technology takes a proactive approach to supply chain resilience by allowing organizations to pre-plan months in advance, strategically mitigating the potential impact of a wide range of catastrophic risks, from hurricanes and wildfires to grid failures and disease outbreaks. This significant announcement from Interos comes at a pivotal moment, marked by an alarming increase in climate-related disasters, resulting in substantial financial losses and human impact.
In the United States and globally, 23 billion-dollar disasters total $57.6 billion in losses, as reported by NOAA.
Interos' groundbreaking technology addresses the financial aspect and aims to protect lives by shifting enterprises from lagging to leading indicators. It provides early assessments of suppliers exposed to various hazards, including weather patterns, climate fluctuations, communication vulnerabilities, infrastructure challenges, and healthcare capacity constraints. By combining immediate and seasonal hazard intelligence, businesses can proactively detect and prevent seasonal disruptions and disaster-related issues within their extensive supply chains. This innovative solution establishes Interos as a key player in enhancing supply chain resilience and mitigating unanticipated disruptions.
Jennifer Bisceglie, Interos Founder & CEO at Interos, said,
"Leaders throughout industries recognize the need to take control of risk in an environment where resilience delivers competitive advantage. If you think about large-scale, multi-year programs, enterprises need the ability to project where things are going with respect to weather, inflation, energy crisis and other trends to make better-informed business decisions based on impact to their supply chains ongoing operations."
[Source – Cision PR Newswire]
Organizations lacking sub-tier supplier visibility face substantial financial consequences, incurring a collective annual loss of $45 million due to delayed catastrophe response. This figure rises to $82 million, encompassing multifaceted supplier risk factors. Interos' recent report highlights a 33% increase in disruptions since 2022, spurring enterprises to prioritize early preparedness and crisis mitigation, potentially saving $37 million annually. Interos' technology reshapes supply chain risk management by integrating proactive resilience measures, expediting critical supplier processes and ensuring comprehensive risk management at scale.
Through the continuous mapping and monitoring capabilities offered by Interos, enterprises can proactively and effectively navigate the complexities of risk, ensuring supply chain resilience is upheld at both speed and scale. Interos' transformative technology equips organizations with the tools to safeguard their supply chains in an increasingly intricate and interdependent risk environment.
About Interos
Interos is an AI-driven operational resilience company dedicated to helping clients attain Resilience by Design. Leveraging innovative scoring and relationship discovery technologies, Interos empowers customers to streamline risk assessment, detection, and response. As the world's inaugural and sole automated supplier resilience platform, Interos excels in the comprehensive mapping and monitoring of physical and digital supply chains on a grand scale. This proactive approach safeguards organizations against a spectrum of threats, encompassing regulatory violations, unethical labor practices, cyber threats, financial instability, catastrophes, and other systemic vulnerabilities.
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Freight, Supply Chain
Echo Global Logistics | September 13, 2023
Chicago-based Echo Global Logistics, Inc., has introduced automated carrier negotiations to its online carrier platform, EchoDrive. This new feature enables carriers to bid on available loads and receive instant notifications of acceptance or counteroffers, streamlining the freight booking process.
Dave Menzel, President and COO at Echo, stated,
Echo continues to pursue innovative transportation technology with our automated carrier negotiation system. This new process, combined with our advanced load-matching algorithm, allows carriers to now find available freight and book it in an automated manner within seconds, eliminating inefficiencies associated with the time carriers spend gaining access to freight.
[Source: PR News Wire]
Jay Gustafson, EVP of Brokerage Operations, highlighted the real-time feedback provided to carriers and the seamless booking experience powered by algorithmic intelligence.
Echo's automated negotiation system enables dispatchers to digitally book available shipments even if the listed price doesn't align. The platform swiftly evaluates carrier bids using a unique algorithm and responds with automated acceptances, counteroffers, or rejections. This feature operates through EchoDrive, the web portal offering real-time load access for carriers.
EchoDrive's algorithm determines bid acceptance thresholds, ensuring swift responses. This feature enhances efficiency for carriers using Echo's web portal. Echo Global Logistics is a Fortune 1000 provider of transportation and supply chain management services, leveraging technology to simplify transportation management for clients.
EchoDrive enhances freight booking efficiency by enabling automated carrier negotiations. It saves time, improves the supply chain, and provides real-time insights. However, reliance on algorithms may not always align with market conditions or carrier needs, and rapid automation may reduce personal interactions. Technical glitches are also a potential risk.
About Echo Global Logistics
Echo Global Logistics, Inc. is a leading provider of technology-enabled transportation and supply chain management services. With its headquarters in Chicago and more than 30 offices nationwide, Echo offers a range of services, including freight brokerage, managed transportation solutions for all major modes such as truckload, partial truckload, LTL, intermodal, temperature-controlled shipping, warehousing, and expedited services.
Echo's proprietary web-based and mobile app technology compiles and analyzes data from a network of over 40,000 transportation providers. This technology helps its 35,000 clients simplify the critical tasks involved in transportation management. Echo has been named one of Newsweek's Most Trusted Companies in America.
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