Every company is seeking innovative methods to boost revenue, improve productivity, and streamline operations—all of which are critical to succeeding in a competitive environment. Many firms have accelerated their digital transformation efforts to meet those aims since the outbreak began, incorporating Chatbots, Robotic Process Automation (RPA), and Machine Learning (ML) into additional aspects of the business. Leaders recognize the need of being prepared for the unexpected, and they are leveraging digital technologies such as automation to improve their agility and help them work faster and smarter.
Consumers interact with automated technology daily, whether it’s when buying a flight, opening a bank account, or seeking customer support. As automation grows more prevalent in the organization, business executives anticipate it to assist them in establishing more productive workflows and addressing labour management challenges.
What if you could put Artificial Intelligence in every employee’s hands, allowing them to automate mundane tasks and focus on higher-value, strategic work? Work orchestration, or interactive, self-service AI for every employee, is the next step in intelligent automation’s progression.
What role could RPA and AI play in the supply chain and logistics industry?
Businesses are increasingly focused on enhancing productivity and efficiency, avoiding operational risks, and improving customer experiences while keeping costs low in today’s uncertain economic situation. Intelligent Automation and RPA can help automate manual operations by removing repetitive, repeating, and regular procedures with intelligent BOTS.
RPA and Intelligent Automation can substantially aid a company’s digital transformation initiatives. Here are some of the most significant benefits of RPA:
Process Automation: The logistics and supply chain industry vertical relies heavily on manual rule-based processes, and their workforce spends a significant amount of time managing documents like bills of lading, invoices, and other documents that require multiple entries in multiple legacy systems, resulting in delays and errors. RPA techniques can be used to gather, store, and extract data/records/files from unstructured sources. RPA systems can save time and money by reducing human participation and drastically increasing processing speed.
Performance & Accuracy: Streamlining and automating activities like invoice processing, payment collection, and order tracking are one of the most onerous tasks for organizations in these industries. These business procedures are intertwined across multiple systems, necessitating regular check-ins and follow-ups, which slows them down. RPA and IA help to lower the risk of transactional error by deploying bots as digital workers, cutting process cycle time by approximately 50% or more and bringing precision to common jobs and complex procedures.
Enhanced Customer Service: The logistics industry is rapidly facing severe competition and narrowing margins across all service lines. They can keep their present clients by improving customer service and responsiveness. RPA may automate the entire customer onboarding process and act as an extended digital workforce team (software robots) that can work 24 hours a day, 7 days a week, delivering uninterrupted service, working efficiently and with fewer errors, and so increasing the customer experience.
Improved Compliance: Many foreign regulations, trade policies, and worldwide compliance requirements must be adhered to by logistics, freight, and shipping corporations, making their operations more complex and restricting their agility. RPA can be used to automate compliance jobs and digitalize processes, allowing employees to focus on tasks that are critical for compliance. Intelligent Automation can be used to digitize compliance procedures such as checking export and import documents, marine vessel certificates, and insurances.
Total Productivity: Employees can focus on higher-value activities that need their expertise and skills by training digital workers to perform increasingly complex, rule-based routine chores. RPA, as well as AI, machine learning, and natural language processing (NLP), can help businesses in the logistics, transportation, and supply chain sectors improve operations in areas like warehouse management, invoice processing, procurement and inventory management, demand and supply planning, and so on.
Developing a digital transformation platform for the logistics and supply chain industries
Organizations are increasingly relying on robotic process automation (RPA) and machine learning (ML) and other Intelligent Automation technologies to deal with new business transformation and market limits brought on by the pandemic, but a people-centric approach is still necessary for success in the future of work.
According to the findings of the survey, the pandemic has accelerated digital transitions and resulted in a rise in automation expenditure.
With 48% of survey respondents anticipating boosting RPA spending in the coming year, businesses are turning to RPA to:
- Supply chain agility, diversification, and resilience are increasing (83%)
- Reduce extraordinary operational and back-office costs (80%)
- Provide remote workforce support (75%)
Breakthrough technologies like RPA, AI, and Intelligent Automations are enabling digital transformations all around the world, addressing issues like labour shortages, large-scale data processing, and more. To drive digital transformation, Intelligent Automation solutions will be necessary in most sectors around the world in the not-too-distant future.