Supply Chain & Travel Logistics

Goals

To inform a new business pitch of design consulting services to supply chain and logistics companies that are using AI by analyzing industrial trends around the rate of adoption of AI, exports for their customers , and pain points.

Early Findings

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Rate of adoption of AI in the supply chain and logistics industry

  • "Advancements in computer vision are behind self driving vehicles and while self driving trucks may be 5 to 10 years off from mainstream adoption, there will be other tangible impacts."
  • "In the future, we expect to see an increased adoption of AI and machine learning in the context of predictive maintenance and drone operation in the logistics space."
  • "Supply chain management through AI will continue to refine. AI in logistics customer support (through predictive transit times) will reach more consumers this year."
  • "Logistics is typically a low tech space, so companies are trying to catch up where they can and they are using several tools to do it. Three of the biggest are IoT, AI and data analytics."

Understanding export trends for their customers

  • "Free Trade Agreements (FTAs) are helping European businesses export more to countries and regions outside of the EU."
  • According to the Global Trade and Supply Chain Management, "95% of consumers are outside the U.S."

Uncover pain points in freight and supply chain industry

  • "Rising US diesel fuel prices are escalating surcharges added to freight rates, which is reversing a two-year trend that cut into the revenue and earnings of truckers as fuel prices plummeted."
  • There are many pain points facing the freight and logistics industry, however, "the most important and at times challenging concern is the need for greater innovations and technology advances while remaining budget-conscious."
  • An immediate challenge facing supply chain leaders in the industry is the abundant predictions of a potential macroeconomic downturn, as the current uncertainty around the industry's near-term macroeconomic conditions leave supply chain leaders with difficult decisions to make.

Proposed next steps:

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Due to the general availability of information in this regard, we recommend the continuation of this research to identify 5-7 trends in the supply chain and logistics industry, each, around the rate of adoption of AI, export trends for their customers, and the pain points.
Alternatively, we could just provide 5-7 trends in the supply chain and logistics industry, with a general focus around the rate of adoption of AI, export trends for their customers, and the pain points.