Reuters Events | Supply Chain & Logistics Business Intelligence

More Supply Chains in Need of Innovative, Yet Practical Solutions

The logistics industry is changing rapidly due to a multitude of new technologies. The velocity at which these technologies are being introduced has created both opportunities and challenges for an industry that is charged with serving today’s on-demand world. Starting today, Teknowlogi, pioneer of the Logistics Expert System (LES) and creator of Tai, the industry’s only cloud-based solution built on artificial intelligence (AI), will share its innovative, yet practical, technology solutions with attendees at the North American 3PL & Supply Chain Summit being held this week in Atlanta.

Teknowlogi representatives will be in Booth 32 throughout the conference, demonstrating how the LES advanced technology platform represents the next evolution of innovation for the logistics industry. With its built-in intelligence, the LES gives supply chain executives newfound visibility and data access to achieve real-time decision-making. Additionally, the Teknowlogi team will be showcasing how the LES is powered by Tai and is able to assess, analyze, provide recommendations and execute change for numerous logistical and business situations that affect all players within the shipping industry. In particular, both the Tai Mobile Intelligence and the Tai Shipping Marketplace will be on display. Tai Mobile Intelligence enables on-demand self-service for data, business process management and API management for all segments of the logistics industry, creating a one-stop shop for all types of asset carriers, 3PLs and shippers. The Tai Shipping Marketplace is an online, self-service tool delivered through the Teknowlogi platform that connects buyers of shipping rates who are looking to save money with sellers of shipping rates who are looking to make money across North America.

“Technology has created some very exciting times for the current and future state of the logistics industry,” said Spencer Askew, founder and CEO of Teknowlogi.“However, beneath all the buzz words and hype, organizations recognize there are some very ‘back to basics’ areas where technology can create tremendous value and efficiencies within the walls of their organizations. Our solutions at Teknowlogi are engineered with both innovation and practicality in mind to help companies simplify and deploy the right technologies to capture the business value they need.”

New Study Points to Industry Ready for Change 

The 2018 Supply Chain Study, commissioned by Teknowlogi and eft Supply Chain and Logistics Business Intelligence, examined the relationship between today’s supply chains and technology. The study included a survey of 104 supply chain executives from retailers, manufacturers and brands in both North America and Europe.

Among the study’s findings:

• The majority of supply chain executives are already using AI in some capacity: Thirty-three percent of supply chain executives are using AI in an experimental manner and another roughly 17 percent are applying it to specific business processes, while there are only limited numbers using it extensively across their supply chains. This suggests that it’s still a nascent technology.
• Calculating ROI from technology needs to change with innovation: Forty-six percent of respondents are still using traditional methods to calculate ROI—measuring the cost of the technology, then calculating the recovery of said cost. As innovation increasingly becomes a necessary expenditure, there will be a shift in ROI calculations to include other variables (i.e., efficiencies gained, competitiveness, organizational growth).
• Weather-related supply chain disruption is an enormous issue: Twenty-eight percent of supply chains are being impacted by extreme weather on a yearly basis, while 40 percent are experiencing disruptions even more frequently. Companies need real-time information to be able to respond as quickly as possible with the right strategy as soon as things don’t go as planned due to disasters or inclement weather.  

“There’s no single magic wand to address every challenge within the logistics industry,” Askew said.“However, through technology applied intelligence, the logistics industry at large will be able to advance through innovation without it being such a daunting or expensive undertaking.”

Teknowlogi is the Title Sponsor at the 9^th Annual North American 3PL & Supply Chain Summit. Askew will present the keynote session, “Logistics Expert System Intelligence: What IT Means and How to Practically Apply IT,” at 8:40 a.m. on June 6 at the event.  

About Teknowlogi

Based in Atlanta, Teknowlogi is the pioneer of the Logistics Expert System (LES) and the only technology company to offer a cloud-based solution that combines transportation management systems, mobile intelligence, integration intelligence, consulting intelligence, business intelligence and artificial intelligence in one platform. Addressing unmet needs in the market, its affordable Tai solution can analyze millions of data variables in real-time to allow companies to enhance and change business processes within the complicated and multi-party global shipping and logistics industry. The Tai Mobile Intelligence app is another industry first, allowing any segment within the logistics network to address all shipment lifecycle “hot points” anytime, anywhere. Shippers, from 3PLs and freight forwarders to asset carriers and even other logistics software companies―regardless of size―can benefit from having an intelligent LES platform that’s easy to implement, use and upgrade. For more information on how to advance your logistics into the future, visit www.teknowlogi.com, follow us on LinkedIn and Twitter @Teknowlogi, and like us on Facebook.