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Although there is nothing new about laying out potential scenarios and assessing the various risks , new technologies like machine learning ( ML ) and artificial intelligence ( AI ), combined with data analytics can significantly enhance an organization ’ s decision making and therefore its ability to redesign supply chain scenarios . Increased automation and the use of AI and ML in freight forwarding operations are expected to increase this year , leading to more efficient and accurate operations . For example , AI can analyze large amounts of data to identify patterns and predict potential risks . It can estimate future costs and also forecast inventory levels and optimize routes and schedules .
Furthermore , data analytics can be used to monitor supply chain operations in realtime , allowing companies to instantly identify and mitigate any issues that arise . Ultimately , these measures can improve delivery times , increase efficiency , and reduce cost .
Data quality is undoubtedly crucial , as while any company can crunch , validate , and clean data , what actually matters is ensuring that you have access to the right data sets and can understand how to see the relationships and trends between data . To this end , freight forwarders can play a pivotal role in this process , not just by creating insights with data but also by showing , in a similar centralized fashion , what the response strategy has been . By leveraging their expertise freight forwarders can analyze the data to identify emerging trends , potential disruptions , and risks in the supply chain , allowing businesses to make more informed decisions about their operations . Using the right tech and data to improve response time to unforeseen shocks , will , in turn , help avoid extra costs and prevent supply delays to customers . When operating in a hostile and uncertain environment , these efforts will go a long way in ensuring a credible and trustworthy service , which ultimately will improve customer loyalty .
Redesigning supply chain scenarios
Just because the pandemic is mostly behind us , don ’ t stop looking for ways to redesign your supply chain for better resilience . The pandemic showed us just how unique each company ’ s supply chain truly is .
One measure organizations can implement to achieve resiliency to future shocks is building scenarios and assessing risk in advance . For example , ‘ what if ’ scenarios essentially track gradual developments and lay out the potential implications for the freight forwarder .
The first step is to identify the factors
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