Logility Highlights Innovations in AI and Ml to Accelerate Supply Chain Decision Making
Logility Voyager Solutions Transforms Data into Action, Accelerating the Product Concept to Customer Business Cycle
Logility, Inc., a leading provider of collaborative supply chain optimization and advanced retail planning solutions, highlighted several enhancements to the Logility Voyager Solutions™ platform that leverage valuable applications of artificial intelligence (AI) and machine learning to boost supply chain performance. The platform’s in-memory architecture enables companies to improve decision-making, accelerate new product introductions, and more accurately anticipate market-driven demand changes to quickly respond to opportunities and potential risks. The announcement came at the company’s 2019 Velocity conference bringing together customers, industry thought leaders, and supply chain visionaries.
“We are finding new and practical methods to incorporate AI and machine learning to drive innovation and help our customers automate their planning process and we are working on additional innovative ways to apply AI in the future.”
Today’s supply chains move at a ferocious pace and are fueled by multiple data streams available from both internal and external enterprise systems, social networks, syndicated streams, IoT (Internet of Things) and more. Commodity prices, weather information, market trends and geospatial data are just a few of the data points that can influence short-term supply chain performance. Today, Logility is using advanced AI and machine learning to transform data and help predict customer needs, identify trends, address disruptions and deliver a more synchronized supply chain from product concept to customer delivery.
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“Logility is using advances in AI and machine learning to eliminate, automate and augment current processes to help our customers focus on strategic activities that enable them to be more successful every day,” said Mark Balte, executive vice president, Research and Development, Logility. “We are finding new and practical methods to incorporate AI and machine learning to drive innovation and help our customers automate their planning process and we are working on additional innovative ways to apply AI in the future.”
As companies embark on their digital transformation initiatives, the ability to create a “Digital Twin,” or digital representation of the physical supply chain network, becomes a critical capability. Logility Voyager Solutions helps companies build their digital twin and quickly model multiple business scenarios and then perform in-memory simulations to determine the best course of action to meet business objectives. Logility Voyager AdapLink® helps ensure the data to support the digital twin is captured in real-time, is accurate and uniform regardless of the source, to help drive the plan.
A few of the AI and machine learning-based features available in the Logility Voyager Solutions platform include:
Voyager Pulse Wise
Logility Voyager Pulse Wise™ is an exciting new autonomous capability that continuously senses, analyzes and automatically updates the demand planning parameters to ensure the supply chain operates at peak performance. The AI-based solution monitors forecast accuracy in real-time and adjusts forecast parameters autonomously for each item to increase accuracy and ensure the supply chain operates at peak performance. With Voyager Pulse Wise, companies are able to quickly take advantage of opportunities, stay ahead of potential disruptions and respond to spontaneous demand such as a celebrity endorsement for a product on Twitter or Instagram.
Voyager Order Promising
The Logility Voyager Integrated Business Planning™ (IBP) solution has built in capability to evaluate Available-to-Promise (ATP), Capable-to-Promise (CTP) and Profitable-to-Promise (PTP) to improve customer service and model supply chain opportunities. This unique capability leverages the digital representation of the physical supply chain, the Digital Twin, to quickly determine the ability to fulfill a customer order. Leveraging in-memory processing and robust analytics enables faster decision-making around how to respond to an unexpected opportunity, generate incremental revenue or provide more proactive customer service.
Optimization orchestration leverages an AI algorithm that identifies independent supply chains within a given model and then solves each scenario concurrently within a unique process thread. This enhanced Digital Twin modeling enables faster throughput of multiple scenario simulations to enable large, global supply chains to move toward continuous planning and optimize their operations while better understanding the merits of multiple strategies.
Advanced Demand Simulation
Logility Voyager Solutions utilizes advances in AI to run concurrent simulations based on forecast variability to determine a company’s ability to meet revenue goals. These advanced analytics help identify supply chain resiliency based on demand variability to identify a risk factor for any given item or product family. Depending on the company’s risk tolerance, the planner can then adjust capacity – for example, by modeling a co-packer or brining on a new supplier – to determine the likelihood, given multiple variations in demand, of meeting goals.
Multi-echelon inventory optimization (MEIO) is an innovative science which helps free working capital by balancing inventory levels and customer service. Logility Voyager Inventory Optimization™ is uniquely positioned in the market, offering the ability to optimize across multiple echelons to determine the optimal form and function of inventory to help reduce inventory levels as much as 30 percent while improving service levels. Voyager Inventory Optimization uses multiple algorithms to determine the best inventory investment targets based on demand characteristics, service level goals and available budget. Logility’s MEIO solution uses machine learning algorithms to automatically select the best inventory policy for each item across a company’s product portfolio considering demand characteristics ranging from high volume to sporadic.
The Logility Voyager Solutions Inspiration Board is a Pinterest-like workspace where traditional text based assortment plans become vibrant visual representations of collections. This allows brand owners to merge the art and science of buyers and planners to provide greater visibility throughout the planning process and ensure each sales channel is able to meet its plan.
“Logility continues to invest aggressively in new and innovative applications of AI and machine learning to help companies accelerate their digital supply chain transformations, drive tangible business benefits and automate planning,” said Allan Dow, president, Logility. “Through the Digital Twin, Logility helps turn the physical supply chain into a living, breathing model to quickly understand the impact of decisions and determine the appropriate course of action. Logility Voyager Solutions helps companies move faster, work smarter and outpace the competition by turning data into action that favorably impacts the bottom line.”