Applications of artificial intelligence in Echo Global Logistics

Title

Applications of artificial intelligence in Echo Global Logistics

Creator

Chaurasia A.; Parashar B.; Kautish S.

Description

Echo Global Logistics is a premier provider of business process outsourcing, using technology to meet its clients logistics and transportation needs. They deliver substantial transportation savings to clients while providing top-tier service, thanks to state-of-the-art web-based technologies, dedicated service teams, and significant purchasing power. The most significant business risk in 2023 will be supply chain interruptions, which can impact cash flow, growth, and shareholder value. Echo Global Logistics has introduced an innovative self-service website called Echo Ship, designed for shippers of less-than-truckload (LTL) shipments. Echo Ship simplifies LTL shipping with excellent visibility, outstanding functionality, and a quick, user-friendly design. Logistics is evolving at Echo Global Logistics, with patented technology incorporating the latest developments in the most flexible and reliable transport management system (TMS) currently available. This TMS is developed using Artificial Intelligence (AI), machine learning, and complex load-matching algorithms. Echos unique software is user-friendly, adaptable, and highly scalable, addressing the evolving needs of carriers and shippers regarding transportation management, enabling customers to move their goods swiftly, securely, and affordably. A transportation management company leverages AI to provide supply chain solutions that optimize transportation and logistics needs. The list of services also encompasses executive dashboard presentations, rate negotiation, transportation procurement, shipment execution and tracking, carrier management, carrier selection, reporting, compliance, and comprehensive shipment reports, Over the next five years, supply chain companies anticipate a twofold increase in the use of machine automation in their operations. Similarly, there is a projected 40% compound annual growth rate (CAGR) over the next seven years, going from $1.67 billion in 2018 to $12.44 billion in 2024. Supply chain executives are often time-constrained, making it challenging to attend numerous meetings for solution implementation. Actionable insights from integrated AI tools can remove bottlenecks and unlock real-time value. This is vital because supply chain businesses require more action rather than excessive analysis. This chapter delves into the AI and supply chain practices at Echo Global Logistics, illustrating how AI-based solutions reduce costs, enhance supply chains, boost productivity, and improve service quality. It aims to determine whether the company can transform its products and services, creating new value propositions for Echo Global Logistics customers with the aid of AI. 2024 by Elsevier Inc. All rights reserved, including those for text and data mining, AI training, and similar technologies.

Source

Computational Intelligence Techniques for Sustainable Supply Chain Management, pp. 405-428.

Date

2024-01-01

Publisher

Elsevier

Subject

artificial intelligence; Echo Global Logistics; industrial internet of things; internet of things; supply chain operations; transportation management system (TMS)

Coverage

Chaurasia A., School of Commerce, Finance and Accountancy Christ (Deemed to be University), Uttar Pradesh, Ghaziabad, India; Parashar B., VIT-Bhopal University, Madhya Pradesh, Bhopal, India; Kautish S., LBEF Campus (APU Malaysia) Kathmandu, Nepal, Model Institute of Engineering and Technology, Jammu and Kashmir, Jammu, India

Rights

Restricted Access

Relation

ISBN: 978-044318464-2; 978-044318465-9

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1016/B978-0-443-18464-2.00009-1

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85203235001&doi=10.1016%2fB978-0-443-18464-2.00009-1&partnerID=40&md5=38dc331ed06bc5c5768043168bdcee5e