Alexa Startups are using artificial intelligence to combat supply chain disruptions
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Startups are using artificial intelligence to combat supply chain disruptions


Supply Chain Management

Startups are using artificial intelligence to combat supply chain disruptions

In the last two years, unexpected events have disrupted global supply chains.

COVID-19, the Russian invasion of Ukraine, a container ship that blocked the Suez Canal, and Brexit have combined to delay supplies of everything from semiconductor chips to pet food.

As a result, a growing group of startups and established logistics companies has created a multi-billion dollar industry applying the modern technology to help businesses minimize disruption.

KlearNow Corp, Fero Labs, Interos Inc, and others are using artificial intelligence (AI) and other cutting-edge tools so producers and their clients can react more rapidly to supplier holdups, get through the bureaucratic difficulty of cross-border trade, and monitor raw material availability.

Analysts reported that the market of new technology services focused on supply chains could be worth over $20 billion a year in the next five years. By 2025, over 80% of new supply chain applications will use AI and data science in many ways, according to a report by researcher Gartner.

Major logistics companies are also deploying machine learning to enhance their competitiveness. US truck fleet firm Ryder Systems Inc. uses real-time data from its truck fleet and its partners and customers to create algorithms for predicting truck availability, traffic patterns, and pricing.


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