Flomic Global Logistics integrates advanced AI into operations

BSE-listed Flomic Global Logistics announced that it has integrated advanced Artificial Intelligence (AI) technologies across its operations including pricing strategies, route planning, inventory management, and customer service.

Lancy Barboza, Managing Director of Flomic Global Logistics, expressed the company’s vision, "Our integration of AI is set to transform key aspects of logistics operations. By enhancing pricing accuracy, optimizing routes, and improving customer service, we aim to set new industry standards."

Logistics pricing, traditionally dependent on manual calculations and historical data, has often been marked by inefficiencies. Flomic Global Logistics is addressing this challenge by adopting AI-driven dynamic pricing models. These models leverage real-time data to adjust rates based on demand, fuel costs, and route efficiency. This strategic move is expected to provide more accurate and competitive pricing, strengthening the company’s position in the market, he added.

In the realm of route planning, AI algorithms are being deployed to analyze traffic conditions, weather forecasts, and roadwork updates. This technology identifies the most efficient delivery routes, promising to reduce delays and cut operational costs. According to Barboza, Flomic Global Logistics is committed to implementing AI-powered route optimization tools as the year progresses to improve delivery schedules while also decreasing the carbon footprint of their operations.

Inventory management is another critical area where AI is making a substantial impact. Traditional systems often struggle with demand fluctuations and supply chain disruptions. AI technology enables more accurate demand forecasting by analysing sales data and market trends, helping logistics companies maintain optimal inventory levels. Flomic Global Logistics aims to harness AI in its supply chain management business for superior inventory management, reducing both overstock and stockouts.

AI is also set to revolutionize customer service in logistics. Flomic Global Logistics also plans to introduce AI-based tools, including chatbots and virtual assistants, to streamline routine inquiries and provide real-time shipment tracking. These innovations are expected to significantly enhance customer support and satisfaction, said Barboza.

As AI technology continues to evolve, its influence on the logistics sector is set to expand, driving the industry toward more efficient and innovative practices. Flomic Global Logistics is positioned at the forefront of this evolution, leading the way in adopting AI to drive significant advancements in the industry.