**Sydney**: A collaborative project led by the University of New South Wales, supported by over $500,000 from the Australian Research Council, aims to improve supply chain resilience using real-time data and AI, involving key industry player Fluent Cargo for innovative risk management strategies.
A significant research initiative aimed at enhancing the resilience of supply chains has been approved, with the University of New South Wales (UNSW) leading a collaborative project involving Monash University and Edith Cowan University. The Australian Research Council (ARC) has allocated over $500,000 in funding, resources, and tools for the project, which is set to span over the next three years.
The focus of the project is to create improved visibility within supply chains to better predict and manage risks. By leveraging real-time data on supply chain events, trends, and potential disruptions, researchers will work to advance understanding of how various elements of the supply chain interact during crises. This initiative arises at a time when global supply chains face increasing vulnerabilities, and the researchers hope to devise solutions that enhance both prediction and accuracy for current and future shipments.
Fluent Cargo, recognised as an industry leader in supply chain data solutions, will play a pivotal role in this research. The company offers advanced capabilities in routing, scheduling, and tracking across diverse shipping modes. Their data includes emissions metrics and market index pricing, providing comprehensive insights into supply chain logistics. Archival Garcia, CEO of Fluent Cargo, expressed enthusiasm for the project, stating, “We are really excited to contribute to this new project to understand and manage supply chain risks. The data from our platform is a part of this mission to proactively identify disruptions impacting a Supply Chain Network of multiple nodes and measure this impact.”
The research will explore innovative applications of artificial intelligence (AI) in supply chain risk management (SCRM). Dr Omar K Hussain, Deputy Head of School (Research) at UNSW Canberra, highlighted the interdisciplinary approach being employed, stating, “This project will consider an interdisciplinary approach of combining artificial intelligence (AI) techniques with SCRM to develop novel techniques to address this complex problem of achieving explainability while managing supply chain risks in freight transportation.”
Ferry Jie, Associate Professor in Supply Chain and Logistics Management at Edith Cowan University, added that the collaboration with Fluent Cargo is crucial for enhancing risk management strategies in global freight transportation. He remarked, “The data from Fluent Cargo’s platform is crucial for developing strategies to manage risks and uncertainties, ultimately benefiting global freight transportation by providing more agile, resilience, robustness and intelligent tools for supply chain risk managers.”
Furthermore, Professor Daniel Prajogo from Monash University emphasised the importance of risk management in maintaining logistics performance. He noted, “Considering the enormous impact of supply chain disruptions not only in terms of costs but also time and, most importantly, clients’ satisfaction, managing supply chain risk disruption is critical for ensuring high logistics performance.”
The collaborative effort between academic institutions and the industry reflects a commitment to advancing knowledge in supply chain management, potentially leading to groundbreaking innovations that could reshape logistics operations on a global scale.
Source: Noah Wire Services
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