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GENESIS uses AI to optimize inventory, reduce transport costs, and improve warehouse efficiency with predictive logistics solutions.
Cambridge, MA, Massachusetts Institute of Technology (MIT) and warehouse management solutions company Mecalux have joined forces to develop an artificial intelligence-based solution called GENESIS (Genetic Evaluation & Simulation for Inventory Strategy) to help businesses manage their inventory and transportation in a more efficient way. GENESIS is a cutting-edge solution that uses sophisticated machine learning techniques to determine optimal inventory levels, reduce transportation costs, and prevent stockout problems.
“With GENESIS, it’s possible to analyze thousands of simulations in a matter of minutes, a huge difference compared to classical tools that require days to perform a similar number of simulations,” said Dr. Matthias Winkenbach, Director of Research, Center for Transportation & Logistics, MIT. “With this tool, companies are able to analyze various scenarios and determine the most efficient way to manage their logistics.” Winkenbach further added that GENESIS helps businesses determine when to move their inventory from one warehouse to another and how to route their shipments to reduce costs.
It can also offer suggestions for transport modes and AI-based freight optimization. It can also notify companies if it is more cost-effective to use existing stock in another warehouse instead of ordering new stock. Rodrigo Hermosilla, Research Engineer at MIT’s Intelligent Logistics Systems Lab, noted another key aspect, “We know how fast it is for things to change in supply chains. What used to take days now takes minutes, so businesses can use GENESIS for real operational decisions, not just planning.”
Javier Carrillo, CEO of Mecalux, noted another key aspect, “This is a major step forward in terms of digital transformation in warehouse management systems. Improvements in the future will include internal replenishment, slotting optimization, and digital twins.” Industry experts believe that GENESIS and other solutions like it will help promote smart supply chain automation and predictive logistics solutions. This will help companies around the world operate faster, more affordably, and more reliable supply chains.
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