25 Oct Role of Heuristics algorithm in solving complex challenges in logistics
Heuristics algorithm is now making rounds in the logistics industry given its problem-solving nature. While some question its suboptimality, majority of them say it is the need of the hour. Deploying heuristics in an Artificial Intelligence framework will help the industry to make faster decisions and optimize business processes based on changing market conditions. Here is a sneak peek on the role of heuristics in the logistics industry and how it can enable the logistics industry to be prepared for an unprecedented situation.
Preparing for the unprecedented
Air Cargo sector went through a gloomy phase during the pandemic induced lockdown period. And only since the beginning of 2023, the industry started recovering from the shock. Even though AI models existed before the pandemic, it could hardly predict beyond demand supply gaps and traffic congestion. Heuristics is based on cognitive science, and it has the ability to go beyond the usual and predict an upcoming downfall.
Faster decision making
With the ability to foresee a problem beyond the usual, Heuristics algorithm also makes way for making faster business decisions. These decisions will be based on the previous patterns and the compounding effects of the same on the industry. By doing so, industry stakeholders are sure not to repeat the same mistakes committed.
By deploying a heuristics framework, the industry moves into a preventive approach rather than getting into a damage control mode. This way financial losses are thwarted, business continuity is ensured and most importantly, resources are well managed at all situations.
Yet to kick-off
Heuristics algorithm is not new to the industry, but post the pandemic, it is gaining traction among technology service providers. While some are actively deploying and have already deployed, many are yet to absorb it into their solutions. Once heuristics algorithm is utilised widely, the industry will prevent unprecedented situations and achieve significant business synergies.