November 6, 2023

Industry Insider Column

Guest Author – Simon Pepper, CEO at SILA Global

Artificial Intelligence & Integrated Technology

In this article I am going do my best to explain how Artificial Intelligence and Integrated Technology can help shipping companies and their steel industry customers achieve a better all-round result. The first thing to say; however, is that much of the world is still trying to understand what artificial intelligence actually is, and how it will combine with integrated technology to impact our business lives. Both are evolving and their impact today may be small compared to their impact tomorrow. Nevertheless, we do already know that AI&IT (artificial intelligence and integrated technology) can offer many solutions to the frequent supply chain problems which arise. Supply chain visibility, which is

(Continuation)

the ability to track products and materials in real time as they move from manufacturers to receivers, has become vital in the industry.

So let´s have a look at some of the ways in which AI&IT can help. Firstly, in real-time tracking manual entry and periodic updates are being replaced by AI systems which process vast amounts of data in real time. This leads to quick identification of the problem and a pro-active solution. But AI’s predictive capabilities extend beyond just monitoring. By utilising historical data, weather patterns and traffic variables, decisions can be made to re-route shipments to avoid problems at sea. The use of AI&IT also optimizes inventory management by analysing consumer demand, sales trends and supply chain performance. This data-driven approach minimizes carrying costs and ensures product availability, balancing the fine line between excess stock and potential sales loss.

Customer satisfaction is always vital to success and, in this regard, the real-time tracking, accurate delivery estimates, transparency and issue resolution that AI&IT offers can significantly bolster a company´s reputation. Additionally, there is a cost reduction from streamlining supply chain operations, lowering inventory carrying expenses and mitigating costly disruptions. AI and integrated technology also enhance compliance and security by tracking goods and detecting unauthorized or suspicious activities. This is crucial in safeguarding sensitive or high-value cargo. Finally, in a world where sustainability is a growing concern for businesses and consumers, AI-driven supply chain visibility minimizes the environmental footprint by optimizing transportation routes and reducing fuel consumption. This fosters a greener, more sustainable future. At SILA Global we have invested heavily in our supply chain visibility product SV3. We will also continue to embrace artificial intelligence and integrated technology solutions which we consider to be the essential tools for any company wishing to be part of the evolving world of shipping and logistics.

Got Something To Say?  If you would like to be the guest author of an Industry Insider column you are very welcome. The choice of topic is yours. You might like to have a rant against some overbearing bureaucracy, or maybe you think further regulation is needed in a particular sector? Perhaps you want to complain about some unfairness which exists in the industry. There is no cost involved in being the guest author. Simply contact the publisher, Mark Maccallum, via his email: [email protected]

Disclaimer. The Industry Insider column is an opinion piece where the views expressed belong solely and entirely to the indicated author, in this case: Simon Pepper, CEO at SILA Global. Australian Steel News accepts no responsibility whatsoever for the veracity of the author´s opinions nor for the accuracy of any information given by him.

If you would like to contact Simon Pepper, you can do so via his email: [email protected]