The Challenge
Efficiency is one of the key elements for a flourishing and fruitful business and it will only become more predominant. By 2035, Artificial Intelligence (AI) has the power to increase productivity by at least 40%. The growing consumer demand combined with the rise of technology has affected industries across the board. This has been made more apparent by the fact that 72% of execs believe that AI will be the most significant business advantage of the future. With Logistics being no exception, it is predicted that by 2035, about 10% of new LCVs and around 20% of HDTs to be autonomous.
Countless companies have been forced to internally transform the way in which they operate to adapt to those circumstances and carry on delivering the required value. Such need for transformation has led many to seek solutions to their challenges in innovative technologies. As of 2020, 70% of manufacturers still haven’t adopted digital operating systems.
On one occasion, GTL had the opportunity to assist a US-based logistics company with resolving blockages in operations. The company was in urgent need of finding the right solution to plan their resources more optimally so the company could increase its efficiency, as this obstacle was hindering their costs along with potential competitiveness levels. Managing various containers, trucks, labour and delivery route planning is of utmost importance for logistical companies to run successfully. Forbes found that 29% of AI implementations in manufacturing are for maintaining machinery and production assets. GTL has therefore stepped in and reshaped the business with the application of technologies such as Artificial Intelligence as well as Machine Learning, ultimately reducing costs by and valuable time by 12 %.
GTL has provided inventive IT solutions to the company and resolved the issue of low operational efficiency levels, by providing digital technology services to ensure that those parameters were covered:
GTL has provided inventive IT solutions to the company and resolved the issue of low operational efficiency levels, by providing digital technology services to ensure that those parameters were covered:
Analysing various routes to implement efficient and timely delivery to consumers while executing cost-effective strategies to improve efficiency and the overall functioning of the company.
Analysing timelines and determining procedures, leading to systematic operations in pre-determined and foreseen timelines for deliveries to avoid unnecessary delays.
What Gemraj Technologies Did To Help
To adhere to the above parameters and to come up with the best possible solution, GTL designed an intelligent algorithm to allocate the company’s resources that consider various factors including the capacity of a particular resource at hand whilst plotting the delivery to the best possible resource for planning, routing, and scheduling of the resources. The system has been designed based on a genetic algorithm that carries the capacity to wisely select the resources while balancing over-burdening and idle time, thus making it a fitting solution to a combination of problems with various objectives. The design has also been flexibly made to tackle complicated issues such as the increase in the number of activities, types of resources, and execution methods that may lead to problems in allocating resources. The algorithm can also be productively used to keep costs to a minimum which would typically arise from over-allocating resources, day-to-day fluctuations in resources, and crossing project deadlines.
The Overall Outcome & Value
After implementing the algorithm, the projected results showed substantial improvements in the efficiency of the resources. The added benefit of the design considering constraints such as schedule planning, capacity planning, route optimisation, and smart allocation of resources also boosted the efficiency of resources. This, in turn, resulted in the fulfilment of more orders in a shorter time frame. Feedback from managers indicates that the efficiency of the logistical set-up has been improved from following the design. Moreover, the strategy had helped avoid the over-utilisation or underutilisation of organisational staff, assisted in assessing the utilisation of resources on a timely basis. It allowed the management to determine the shortage in skill and training requirements in the workforce. The centrally controlled method for allocating resources ultimately helped to keep the administration costs down and replace inefficient outdated systems. The many benefits of services provided by Gemraj Technologies Ltd. include:
Organised and competent tracking
Improved scheduling by 7%
Reduction in timelines by 6%
Improving competitiveness by 13%
Reduced costs by 9%
On-time deliveries