statmath at the GIB Success Days 2021
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statmath at the GIB Success Days 2021
GIB, a company of the ifm group, held a digital symposium on 27-28 April 2021 on the topic: “Aim, train, gain – How artificial is the intelligence of tomorrow’s supply chain?”. The two-day professional programme offered, among other things, diverse lectures on the topic of supply chain management as well as stimulating insights into the processes of other companies and new technologies.
In his presentation “Don’t be afraid of mathematics”, our Managing Director Christian Friedrich illustrated the advantages of using artificial intelligence in supply chain management.
The 30-strong team at statmath GmbH is concerned with making valuable and hidden information in unmanageable mountains of data visible and understandable through systematic processing and analysis – including accurate forecasts. Since 2019, statmath GmbH, as like as the GIB, is part of the ifm group. The combination of high-performance sensor technology from ifm, supply chain expertise from GIB and intelligent solutions from statmath is a real unique selling point on the market.
“Together we are able to identify the needs on the market, refine sensor and business data through artificial intelligence and turn them into scalable applications for our customers
_Christian Friedrich
But what is the advantage of using complex algorithms to control supply chain processes?
So far, it has been about extracting new information from data in combination with heuristics, the so-called business intelligence. Nowadays, artificial intelligence and machine learning are used to generate new rules from data and information. The great advantage of this new methodology is that rules and logics that are found even provide results for states that have not yet been experienced and are unknown.
The use of data science solutions in supply chain management helps companies gain completely new insights from large amounts of data associated with the procurement, processing and distribution of goods.
The statmath GmbH offer includes a collection of algorithms for solving problems along the entire supply chain management, the so-called “statmath core”.
This algorithm library contains many customised functions that are continuously developed further. All in all, users such as planners, production managers and maintenance staff have easy access to artificial intelligence methods.
What fields of action are available in supply chain management?
From an AI perspective, there are three major fields of action:
“So don’t be afraid of mathematics – because you don’t have to be a data scientist to use our solution. We do the job for you
_Christian Friedrich
This is exactly where statmath GmbH’s solutions come in.
s.demand supports the control of supply and demand through precise demand forecasts for optimal quantity planning.
Production planning with s.optimization leads to an increase in customer satisfaction and production efficiency by calculating the optimal production sequence.
s.maintenance, the predictive maintenance solution, ensures quality and efficiency control through early identification of process anomalies due to wear and tear.
All in all, artificial intelligence can reduce a number of supply chain tasks and risks.
With the right algorithm, production processes are sustainably optimized, and real added value is gained from the data volumes.
