AI for Logistics

Updated: July 30, 2023

AI for logistics is a transformative technology that revolutionizes the supply chain and transportation industry by leveraging artificial intelligence and data analytics to optimize operations, improve efficiency, and enhance decision-making processes. These advanced AI solutions offer predictive analytics to forecast demand, track inventory levels, and optimize warehouse management, ensuring that the right products are available at the right time. AI-powered route optimization algorithms help streamline delivery routes, reducing transportation costs and enhancing delivery speed. Additionally, AI for logistics enables real-time tracking and monitoring of shipments, improving visibility and enabling proactive issue resolution. By harnessing the power of AI, logistics companies can streamline operations, reduce costs, and enhance customer satisfaction by delivering goods more efficiently and reliably. Moreover, AI for logistics facilitates more informed decision-making by providing valuable insights into the supply chain, allowing businesses to stay competitive and agile in an ever-evolving global marketplace.

See also: Top 10 Delivery service software

2021. Fleet software startup LocoNav raises $37M



LocoNav, an India-based startup, has recently secured $37 million in a new financing round. LocoNav's platform is designed to assist drivers and fleet owners in more than two-dozen countries, enabling them to operate their vehicles with greater efficiency and cost savings. Currently, the platform is utilized by over half a million vehicle and fleet owners across 25 nations. Leveraging artificial intelligence (AI), LocoNav's platform offers fleet management capabilities, performance monitoring, and efficiency enhancement. The startup provides drivers with real-time assistance and recommendations, empowering them to make better choices. Additionally, LocoNav facilitates fuel usage tracking and offers theft prevention features. With support for a wide range of devices and sensors, the platform allows for seamless onboarding of new customers, ensuring rapid adoption and implementation.


2021. Locus raises $50 million for its logistics management business



Locus, a startup leveraging AI to assist businesses in optimizing their logistics operations, has secured $50 million in Series C funding. Locus specializes in automating various logistics tasks, including inventory planning, organization, transportation, tracking, and route optimization, which traditionally require significant human effort. The company targets industries where logistics costs make up a substantial portion of the cost of goods sold and where profit margins are thin. In sectors like distribution and e-commerce, logistics expenses can account for up to 40% of the total cost. This creates a strong incentive for companies to seek improvements and optimize their supply chain networks. Locus aims to address this growing need for logistics optimization by providing AI-driven solutions to streamline operations and increase efficiency.