As technology continues to advance various aspects of consumers everyday lives, businesses have started following suit over the past few years to help keep up with demand. As such, it should come as no surprise that machine learning and natural language processing are making their way into the supply chain industry.
Logistics company DHL has announced its new product introduction dubbed DHL Supply Watch as the latest part of its Resilience360 offering. What this product does is utilize both machine learning and natural language processing to help provide alerts to any supply chain disruptions. As a result of using DHL Supply Watch, the company is hoping to catch errors prior to any finance or reputation missteps.
DHL’s head of Resilience360 for the company’s Customer Solutions & Innovation, Tobias Larsson, commented on what this new offering hopes to do for the supply chain industry. He said “We provide our customers with a solution that detects and mitigates potential supplier failures before they happen, allowing them to focus on early risk mitigation and auditing activities of their most relevant suppliers and third parties. The insights and transparency customers gain through Supply Watch are another example of how digitalization can benefit end-to-end supply chain operations, through building resilient supply chains and enabling businesses to be more competitive.”