article thumbnail

Artificial intelligence and machine learning in supply chain management

EazyStock

Artificial intelligence (AI) simulates human intelligence processes so that computers or robots can carry out tasks usually done by humans. For example, navigation apps, facial recognition, smart assistants, and even robot vacuum cleaners at home use this smart tech. AI was once only seen in science fiction.

article thumbnail

The role of warehouse technology and automation in supply chain management

EazyStock

For example, collaborative robots can work with warehouse operatives to move stock items around the warehouse once the picker places the items in the robot’s container. Depending on your warehouse and order process, a combination of vehicles could support your warehouse team. Collaborative mobile robots. Pallet movers.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

How to Calculate and Apply ABC Classification of Inventory

EazyStock

We’re going to use Frank’s Fasteners business as the example: 1. List the products in descending order based on their annual consumption value. In contrast, C items should take up much less of your time and could be ordered automatically to save valuable human resource.

article thumbnail

7 ways freight tech reduces operations costs and improves profits for carriers

FreightWaves SONAR

Data-driven processes streamline shipping. Every transportation line has an order process and protocols for all shipments. If any software were to streamline the process and make it faster, costs would be cut dramatically. For example, avoiding trips to areas with ample capacity might seem odd.

article thumbnail

How to Calculate Inventory Holding Cost or Carrying Cost

Ship Monk

Before you can calculate carrying cost, you’ll need to calculate the following numbers: Opportunity Cost: This is the amount of capital (cash) you have tied up in unsold inventory that could have been invested elsewhere (on more profitable products, for example). How Can ShipMonk’s 3PL Software Help? Time to reevaluate with ShipMonk.

article thumbnail

How to Use ABC Analysis for Inventory Management (and the Added Value of XYZ Analysis)

EazyStock

ABC Classification Calculation Example. We’re going to use Frank’s Fasteners business as the example: 1. In contrast, C items should take up much less of your time and could be ordered automatically to save valuable human resource. For more information on EazyStock or to book a demo , click here.

article thumbnail

How to Use ABC Analysis for Inventory Management (and the Added Value of XYZ Analysis)

EazyStock

ABC Classification Calculation Example. We’re going to use Frank’s Fasteners business as the example: 1. In contrast, C items should take up much less of your time and could be ordered automatically to save valuable human resource. For more information on EazyStock or to book a demo , click here.