IFS can now deliver a cohesive, closed-loop operational flow that includes transportation planning, automated workflows, freight cost auditing, cost control and continuous network optimization.
The solution is integrated into IFS Cloud along with Enterprise Asset Management (EAM), Field Service Management (FSM), ERP and Supply Chain Management (SCM). In addition, it can be used with and integrated into third-party platforms, lowering the threshold for adoption in businesses that manage complex IT environments with multiple systems.
One of the Most Difficult to Control Business Costs
Logistics is one of the most difficult costs to control and today companies spend between five and ten percent of their revenues on transportation. This is due to data fragmentation across carriers, regions, legacy systems and spreadsheets, which leads to reactive logistics teams that are unable to act on data they cannot trust or compare, or even see.
For large manufacturers and logistics providers, a single percent inefficiency in freight costs can amount to tens or even hundreds of millions of dollars in unnecessary costs annually. Today, the logistics market is valued at over $9 trillion, and ten years from now, it is estimated to more than double to $20 trillion. This requires a structural transformation of the industry.
’IFS.ai Logistics Addresses the Challenges in Four Key Areas
• AI-driven transportation planning and carrier selection replaces manual decision-making with intelligent optimization for decisions on type of transport, leg lengths, and trade routes.
• Fully automated execution eliminates booking errors and reduces administrative burden through real-time visibility of deliveries and intelligent handling of unexpected delivery discrepancies to avoid costly delays.”
• Advanced freight invoice review by reviewing each line, applying automated posting to the general ledger (GL coding), identifying discrepancies in debits, and managing complaint flows and ensuring that incorrect debits are detected and corrected.
• Advanced network analysis and simulation enable continuous testing of different scenarios, from carrier selection and cost forecasts to emissions planning and procurement coordination.
The four functions share a common logistics-optimized data model that standardizes and coordinates dispersed transportation data into a unified and reliable analytics warehouse, with a common data source for reporting, forecasting and continuous network improvement.
“Can Create Value in Just a Couple of Wweeks”
“Logistics is one of the largest cost centers while being the least controlled and most sensitive to disruption, and the consequences are directly visible in EBITDA,” says Philip Ashton, IFS.ai Logistics. “However, we have seen that when AI is applied at scale, directly in industry-specific applications such as enterprise logistics, we can create value for our customers within a couple of weeks, and they can protect their margins, improve accuracy and increase operational agility.”
IFS.ai Logistics offers an AI-powered platform that closes the loop between every operational decision in logistics and the financial consequences it brings. ”This is where industrial AI makes the biggest difference,” claims Ashton.
The launch of IFS.ai Logistics builds on IFS’s continued expansion into the supply chain. Together with solutions such as the recently acquired IFS Softeon for warehouse management and order fulfillment, IFS.ai Logistics adds an intelligence layer that ties together transportation planning, automated execution, freight review and network optimization. Together, this helps the company create a more seamless flow of materials and goods, from warehousing to final delivery.
