It is a no-brainer that supplychain and logistics play a great role in the world economy, driving businesses such as retail, manufacturing, and production and to a great extent every other industry. Whether it is procuring raw materials or delivering finished good, supply chains must keep moving. However, with changing business landscape and multifaceted challenges enabling cutthroat competition across businesses and the global supply chain, it is pertinent that CEOs and thought leaders make decisions that will allow more technological dependence and less primitive solutions. Adopting technological solutions and discarding manual operations is the way forward.
The Pandemic was an Eye Opener
Take the example of retail businesses during the pandemic. The Retail business heavily depends on supply chain and logistics. The COVID-19 pandemic disrupted global supplychains, causing shortages, delays, and increased costs for many retailers. Retailers across the world had to deal with changing demand patterns, inventory imbalances, transportation bottlenecks, and supplier risks. They also had to ensure the health and safety of their workers and customers throughout the supply chain.
The long-term COVID-19 pandemic also altered consumer spending habits, values and lifestyles. Some categories, such as home improvement, fitness, pet care, and groceries, saw increased demand, while others, such as apparel, luxury, and travel, saw decreased demand. Consumers also became more conscious of health, wellness, sustainability, and social impact when making purchase decisions.
All of this forced retailers to adapt their product offerings, pricing strategies, marketing messages, and loyalty programs to meet these changing needs and preferences. To achieve that, supply chain visibility became the top priority.
Many business leaders, under these circumstances, are now focusing on modern-age IoT and AIDC technologies in collaboration with artificial intelligence and machine learning technologies because accuracy in data capturing from various day-to-day business operations has become a top priority for many. AI and ML have the capability to leverage various technologies within their scope like deep learning, big data, and predictive analytics to provide businesses with clean data and actionable insights, driving growth and creating value. The use of AI in supplychain and logistics is imminent.
Understanding RAIN RFID
RAIN RFID refers to Radio Frequency Identification and the word RAIN is taken from the same. In general, RAIN RFID mostly refers to UHF Passive RFID (frequency range 860 MHz-960 MHz).
RFID is a short-range wireless technology that uses radio frequency signals to automatically identify and track tags attached to assets. RFID tags contain electronically stored information that can be read by an RFID reader, from up to several meters away without requiring a clear line of sight.
RFID technology can be used to track and manage inventory in real time, reduce the risk of theft and loss, improve supply chain visibility and traceability, enhance product quality and safety, and enable automated data collection and analysis. RFID technology can be used for asset tracking, access control, and payment systems as well.
RAIN RFID and AI are the Key to Global Supply Chain Visibility
RAIN RFID in supply chain management has the potential to improve inventory accuracy, reduce labor costs, increase efficiency, and enhance customer satisfaction while leveraging artificial intelligence business can unlock the huge amount of data that is generated on daily basis. While RFID can enhance the item-level visibility by tracking assets throughout the inventory, it is the Artificial Intelligence and Machine Learning that can clean the vast amount of data, and generate actionable insights. AI can take the data away from data silos and deduce patterns. Using predictive analytics, AI & ML can forecast future patterns in business operations.
By combining these two, real-time item-level tracking and data analytics, businesses can remove supply chain bottlenecks, enhance visibility and accuracy, and streamline the supply chain.
Here are a few reasons that illustrate how RAIN RFID and AI are the keys to Global Supply Chain Visibility:
1. Automation in Shipment Verification with RFID and AI
RAIN RFID has the potential to track shipment location in real time and verify shipments with ease. It eliminates the need to manually scan each and every asset, pallet, and vehicle whenever a shipment arrives or leaves the inventory, which earlier would take hours, not to mention human errors. Various RFID readers offer great read rate, going up to 1300 tags per sec., which is to say, RFID technology is pretty fast and accurate. AI here can be used to generate patterns and forecast possible disruptions so that businesses are better prepared.
2. 360-degree Visibility with RFID and AI
RAIN RFID can provide businesses with item-level tracking and accurate data on stock availability at premises. This will not only enhance the asset visibility but also the global supply chain visibility. Furthermore, AI algorithms can be used to analyze trends weak links, and bottlenecks. Decisive, timely action can be taken to enhance the global supply chain accordingly.
3. Ensuring Delivery Rate Accuracy
A GS1 survey highlighted the fact that two of the most concerning subjects disrupting the retail business and supply chain are Inventory visibility and order fulfillment.
Customers expect their orders to arrive on time and undamaged. RAIN RFID can help with that. With tracking delivery consignment in real-time from the moment it leaves the facility to the moment when it is delivered, RFID can ensure that the package is visible throughout the transportation. It will ensure accurate and timely delivery and if there is a pattern of delays and inaccuracy, at any end, Artificial Intelligence can analyze the data generated by RAIN RFID and provide exact reports and insights prompting changes.
To conclude, the use of modern technologies in data capture and data processing is the only decisive choice businesses now have in this industry 4.0 era. The digital transformation of businesses has become a necessity and RFID and Artificial Intelligence can help you remove supply chain bottlenecks and improve global supplychain visibility so that businesses and end-customers find their consignments on time, undamaged.
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