VIL

AI4Cast

The AI4Cast project, a collaboration between HOWest, Sirris, and VIL, aimed to explore the integration of Artificial Intelligence in enhancing supply chain forecasting and planning.

 

status: Closed | theme: Digital transformation | type: Regional

The increasing complexity of supply chains, coupled with the prevalence of just-in-time deliveries, has made it crucial to address the impact of unexpected events on multiple companies within the logistics chain. The bullwhip effect further exacerbates the situation by leading to unnecessary stock within the supply chain.

Currently, information regarding demand fluctuations or incidents is not consistently shared among all parties involved, leading to inadequate preparations and resulting in extra costs such as additional transport, overtime, temporary employment, and the rent of materials or spaces. Delays and decreasing quality as a consequence of these challenges can result in dissatisfied customers. It’s imperative that supply chain forecasting and planning be comprehensive and as accurate as possible.

Presently, planning is typically limited to individual companies or direct service providers, and issues tend to be passed up to the next link in the chain.

The implementation of chain-wide, real-time, and proactive supply chain forecast and planning would bring significant benefits to all companies involved, as well as to the end consumer. Achieving this level of forecasting and planning will require chain-wide cooperation and the adoption of modern technologies.

GOAL AND OPPORTUNITIES

In this project, HOWest, Sirris, and VIL will research how modern technologies such as blockchain, new data encryption methods, and artificial intelligence can contribute to sharing, analyzing, and real-time proactive supply chain forecast and planning.

Results

  • Artificial Intelligence (AI) plays a crucial role in accurately forecasting in the supply chain.
  • Having quality data and a willingness to collaborate is essential for successfully deploying AI applications.
  • A collaborative approach to forecasting within the supply chain involving all relevant companies is ideal.
  • Standardizing data is of great importance.
  • The effectiveness of algorithms is directly linked to the quality of the data they can access. Proper AI techniques applied to complete and valuable data minimize the margin of error in planning and forecasting, leading to increased efficiency and cost savings.
  • VIL has developed a roadmap to optimize companies’ forecasting with AI.

 

Practical

Start: March 2020
Total lead time: 24 months

Participating companies

14 companies: Atlas Copco Airpower, Colruyt Group, ECS, Eutraco, Foresightee, Globis, H.Essers, ICO, Let Us, Procter & Gamble, Rotom, The Grain, Trafuco and Unilin.

 

Would you like to know more?

Contact
Dirk Jocquet (dirk.jocquet@vil.be)

VIL: Flanders’ single point of contact for logistics innovation

VIL VZW

De Burburestraat 6-8
B-2000 Antwerpen (Belgium)
T: +32 3 229 05 00
E: info@vil.be
VAT: BE 0480.185.038

VIL