Artificial Intelligence: An often-intimidating term. We start thinking of robots and computer programs that think for themselves. It might still seem like science fiction, but we actually already use Artificial Intelligence (or AI), in our everyday lives. From targeted marketing to automatic spam filtering.
Business is getting faster and transactions are increasing. AI is a very powerful tool that you can leverage right now to innovate and stay ahead of this trend.
Many systems allow you to execute processes via external inputs. This, combined with AI technology, allows you to automate many different processes on many different systems.
A good example is an implementation at one of our clients to relieve pressure on order processing:
The distributor had problems processing orders. Receipted stock was allocated to the first open order located, regardless of whether it was for the goods received. As a result, purchase order aging was totally out of control, and sales started missing customer orders due to unavailability of stock. Customers started moving their business to competitors at an increasing rate. The lack of control was impacting across the entire business.
This was solved by introducing a First-In-First-Out (FIFO) solution. The AI would monitor stock arrivals, then release the sales orders in the sequence they were placed. This would then instruct the warehouse to pack the orders for delivery. Not only was stock allocated to orders chronologically, orders were processed the moment the stock arrived, greatly speeding up delivery times and minimizing inventory on hand.
As we move into the 4th industrial revolution with transaction speeds increasing all the time, the only way to remain competitive is to automate.
If you want to find out more how you can leverage AI or any automation in your business, contact Marius van der Merwe at email@example.com. We will be happy to analyze of your systems at no cost.
“We spend far too much time complaining about the way things are and forget that we have the power to change anything and everything.”
– Bozoma Saint John