Thursday, July 25, 2024

Top 5 This Week

One Step Closer to Making the Cold Chain Problem Just Another Part of Our History

ThroughPut Inc., the industrial AI supply chain Decision Intelligence pioneer, has officially announced a partnership with Inteligistics, the leading digital visibility solutions provider for perishable supply chains, to scale up profitability of perishable goods. To understand the significance of such a development, we must take into account how the goods in question have long suffered due to volatile prices and volumes, poor predictions, limited supply chain visibility, and of course, excessive product spoilage. Such limitations, like you can guess, would on to trigger high rejection and discount rates, while simultaneously triggering huge avoidable losses in regards to margins. Fortunately enough, ThroughPut’s partnership with Inteligistics will address that very problem by enabling growers, suppliers, carriers, distributors, and retailers to significantly improve the efficiency of their supply and cold chain operations. This, in turn, should ensure that all fresh products – ranging from berries and vegetables to fish and meat – is sold profitably on-time and in-full for faster, fresher and safer delivery with full supply chain visibility. Talk about the whole value proposition on a slightly deeper level, we begin from how it will leverage ThroughPut’s patented and award-winning AI-powered Supply Chain Advanced Analytics and Decision Intelligence solution, alongside Inteligistics’ innovative supply and cold chain performance improvement capabilities, to improve upon the current fill rate. Markedly enough, the partners will do so through an innovative fill rate model, which can dynamically allocate products when farm and producer outputs vary, thus ensuring timely demand fulfillment.

Furthermore, users can proactively forecast customer demand, pricing, and volumes. Complimenting the same is the presence of advanced analytics that are there to help you balance supply with demand on a real-time basis. In case this in itself doesn’t sound like enough, then we must how you can also tailor the fill-rate based on customer segmentation. This, in turn, should help customers prioritize higher contribution margin product mixes with the best on-time and in-full (OTIF) rates to maximize returns.

Moving on to upgrades realized in and around the scheduling aspect, they will remain, by and large, concerned with optimizing loading facility and cross-docking queuing, slotting, scheduling, loading and usage. As for how the given pursuit will be realized, the answer to that stems from data-driven recommendations for ideal order fulfillment time-slots based on customer segmentation, available inventory, and priority-based delivery of in-demand products across the supply chain. Building upon the same is a pledge to ensure that necessary labor, docks, and slots are available for loading on time to conceive better operational efficiency, greater throughput, higher output, and profitability.

“By partnering with Inteligistics, we can provide customers with our unprecedented supply chain visibility, actionability, predictions and recommendations into customers’ cold chain operations as part of their larger end-to-end supply chain networks. This allows customers to leverage data at every step of the way to make the right produce available at the right place, at the right time, to the right customer, at the best price, in the correct quantities, and in the safest traceable manner possible,” said Seth Page, COO and Head of Strategic Partnerships of ThroughPut Inc.

Another focal point attached to this partnership will, of course, be the reduction of rejection and discount rates. It will achieve the same using actionable insights and recommendation, both the factors geared towards optimizing end-to-end supply chain operations and maintaining traceable product quality and food safety for a greater bottom-line and enhanced regulatory compliance. Furthermore, one can minimize rejection factors by analyzing data on product temperatures, sales history, and movements across supply chain networks to predict the likelihood of rejection or discounts. You can also minimize waste and discount by managing the inventory from DCs to stores using predictive shelf life and First Expire/First Out distribution.