Robotic process automation (RPA) software is rule-based Automation that uses software bots to imitate user interaction at the UI level and execute the same operations at a much quicker pace minimizing error. RPA solutions have pioneered streamlining processes, accelerating performances, and significantly reducing operational costs by overcoming hurdles such as delays, productivity loss, and inefficient process challenges.
RPA solutions for the supply chain are rapidly emerging as they automate various functions with extreme precision. There are many repetitive processes in the supply chain and logistics sector, including storage, transportation, and delivery which can be streamlined and automated by RPA.
Here are 4 most relevant use cases for Automation in the supply chain and logistics space: -
- Efficient and Proactive Inventory Management: - Inventory control acts as a pivot for the Supply Chain process. RPA bots can help create resilient and responsive supply chains by: -
- Keeping track of inventory and notifying beforehand when levels are low. When fresh shipments are required, RPA can take on an employee's role by ordering new shipments in real-time.
- Bringing Automation in the time-consuming and error-prone process of manually tracking products as they travel through warehouses. RPA supply chain management uses software robots to optimize the entire inventory from the receiving end to shelves, manufacturing, and shipment.
2. Predictive Analysis: - Automation can be invoked to forecast inventory requirements.
- RPA can replace the manually performed tedious and error-prone data analysis process by collecting and merging vital information, preparing datasheets for human Analysis, and sharing it with planners.
- RPA can further evaluate subtleties and patterns in vast amounts of data and consumer purchasing behavior. The findings are subsequently presented in a comprehensive report, which helps create more accurate projections in less time and with fewer resources.
3. Freight Management: An efficient and scalable freight management process can be accomplished by automated chatbots. These chatbots are designed to handle information transmission during load matching, making it easier for brokers to match cargo with a carrier to carry it. Other elements of freight management, such as route optimization, freight accounting, and freight claim management, can benefit from RPA in the supply chain.
4. Invoice Management: - Automation in the supply chain can make it easier to handle invoice documents from vendors and suppliers while reducing the possibility of error. RPA automates processes like extracting information from invoices and evaluating and verifying data, reducing manpower while ensuring bills are handled correctly.
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With the spike in the capabilities of RPA, robotic process automation companies are now offering to automate business processes in better manner and for more versatiles use cases in multiple industries like IT, banking & insurance, finance, and even healthcare and retail.
Workflow automation, which rose to popularity in the 1990s is certainly the forerunner of RPA in the sense that it was highly adopted by industrial setups to capture and translate certain fields like invoices, sales, emails, etc, to add to their databases and notifying the concerned departments/resources for further action.
Deloitte suggests that RPA is an amalgam of automation and AI: “Robotic Process Automation (RPA), a synonym to AI, is the application of technology allowing employees in a company to configure computer software or a ‘robot’ to reason, collect and extract knowledge, recognize patterns, learn and adapt to new situations or environments.”
The present wave of RPA solutions reflects a mature phase on both, the technology side, as well as in the business process aspect.
The market is on an rapid advance causing massive cost reduction, improved accuracy and efficiency, more regulated compliance, and ease of management.
In fact, the business process outsourcing sector is becoming highly dependent on RPA tools, so much so that customers would not have it otherwise.
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