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Using predictive logistics to improve and expand supply chain visibility
This article is part of the Business Information issue of October 2017, Vol. 5, No. 5
The availability of inexpensive sensors and internet of things connectivity has made supply chain visibility easier for manufacturers in the past few years. In fact, it's possible to know exactly where your goods are at any time and, in many cases, what condition they're in. But what if you could take this capability one or even several steps further? After all, it's great to know where your goods are at the moment, but wouldn't it be better to know exactly when you're going to get them? That's becoming more likely as internet of things (IoT) and sensor data increasingly combine with artificial intelligence, machine learning and other next-generation data analytics tools that provide predictive logistics to help manufacturers go far beyond visibility of supply chains. One of the emerging predictive logistics trends in supply chain management is the concept of precise ETA, or the ability of a company to know when and where its goods will arrive with great accuracy, according to Bill McBeath, chief research officer at ChainLink ...
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