The X Future

Applying to The X Future's use case:

Tools to enhance supply chain - traceability, prediction and compliance

The X Future

The X Future

Cupertino, CA, USA

http://www.thexfuture.com

Use Case Collaborators

DB

Devanshu Bansal

Cofounder

Champion

db@thexfuture.com

Tools to enhance supply chain - traceability, prediction and compliance

Published

Last Updated: Mon May 30 2022

Industry

Retail, e-commerce
Consumer packaged goods

Function

Logistics and Supply
Warehousing

Technologies

IOT (Internet of Things)
AI (Artificial Intelligence)
Machine learning

Tags

Asset tracking
Track and Trace
End-to-End Logistics
Material traceability

Problem Statement

Logistics is all about efficiency, but supply chains are growing ever more complex with some already spanning the entire globe. Corporates lack detailed insights of their manufacturers, suppliers, inventory, logistics, etc. Lack of this visibility continues to be a major bottleneck in the optimization of their supply chain operations which often leads to delays, errors, and increased costs. This impedes their planning efforts and makes it difficult to respond flexibly to an unexpected turn of events and scenarios. Corporates, these days, not only have to ensure a great customer experience but also ensure that the safety and quality guidelines are being adhered to. To ensure supply in an increasingly volatile business landscape, companies need more resilient networks. Fast-changing consumer preferences and customization require increased flexibility and speed. There is a rising need to instill corporates with end-to-end transparency data in hand so that they can make predictions, run scenarios, and dynamically optimize operations.

Description

Corporates can achieve a unified view over their whole supply chain by adopting the following solutions:

  • A platform that can give corporates real-time updates and visibility over their overall supply chain.
  • A tool that uses AI and ML to forecast unexpected scenarios and provides proactive risk management solutions.
  • A solution that seamlessly tracks inventory as it moves through the corporate’s external supply network and quickly adjusts production schedules and inventory levels against volatile demand signals.
  • A solution that enables collaboration with every supply chain stakeholder in a single centralized platform to provide a unified view on all production data, order information as well as in-progress order tracking.

The following can be achieved by implementing the above solutions:

  • The ability to respond quickly to market opportunities through real-time materials and production visibility across your external network.
  • The ease to collaborate with your external manufacturers and packagers to launch products faster and fulfill orders on-time and in-full.
  • The ability to contextualize the risk to the organization’s supply chain in real-time and quantify the risk parameters and mitigate the same.
  • The ability to perform advanced analytics and use AI to reduce wastages, meet regulatory compliances, route and storage space optimization.