Why Mining Unstructured Supply Chain Data is a Goldmine

Although the numbers will be higher by the time you read this, according to recent estimates, 328.77 million terabytes of data are churned out worldwide daily, while companies are experiencing a 63% growth in data volume every month. Levels of unstructured data are exploding data, and supply chain organizations are not exempt.

If your organization is like most in the global supply chain, much of your data still relies on manual processes. Your teams are likely spending countless hours and days grappling with the flood of RFQs, shipping manifests, BOLs, and scans of customs certification needed to maintain the smooth flow of cargo through the supply chain.

You know what I see? Perfect timing. Just as unstructured data explodes to a level where even the most conscientious shippers, and forwarders are struggling to keep up using error-prone manual processes, GenAI swoops in to save the day. 

GenAI. Is it really worth the hype?

GenAI can transform industries, streamline operations, and open new growth opportunities—how many times have you read a similar sentence today or recently? I’m excited about GenAI because it represents a transformative moment in data processing. 

Around 80% of the world's data is unstructured. Think free-text emails, attachments, videos, scans, and voice notes. Much of it is inconsistent, incomplete, and error–prone—not exactly useful for BI and on-the-go data decision-making if you’re a shipper or logistics organization, right? 

Well, that was yesterday. Today GenAI can extract, cleanse, and process industrial quantities of unstructured and semi-structured data directly from your email inbox — with cognition matching our own.

This is the age we live in. Machines can read and interpret information never written for them—from a BOL issued to a shipper to the life’s work of a Nobel prize winner. Until now, even the most powerful supercomputers could not do this.

GenAI turns previously unusable data into a goldmine 

As we’ve seen, businesses have been unable to mine more of their own data because 80% of it is unstructured. But the problem extends to semi-structured data, often exchanged through APIs and EDIs which inherit the human errors of manual processes upstream. 

Why have data management and analytics underutilized unstructured and semi-structured data until now? 1) Because your work desktop couldn’t process it and 2) unstructured and semi-structured data are riddled with errors. 

GenAI speaks machine and human

This technology's ability to automatically infer structure is transformative at every point of the supply chain. GenAI extracts, cleanses, and enriches unstructured data to transform cost structures and make enterprises more resilient and adaptable in the face of changing market conditions and global challenges.

What does supply chain management look like with GenAI?

Enhanced demand forecasting 

A global logistics provider uses GenAI to analyze unstructured data from social media, news, and customer reviews. This helps the provider provide more accurate demand forecasts, enabling clients to optimize inventory and improve operational efficiency.

Intelligent supplier discovery

GenAI helps the provider identify and evaluate suppliers by processing data from supplier websites, news, and public databases. This ensures more reliable supplier selection and enhances the supply chain's resilience.

Blockchain Integration

The provider leverages blockchain-based platforms to promote collaboration and data sharing among stakeholders. This enables secure and transparent data exchange, promoting trust and efficiency.

Personalized customer experience

The global logistics provider analyzes customer interactions with GenAI to provide personalized recommendations and improve customer service, enhancing the overall customer experience. 

Walmart, for instance, has introduced new GenAI search technology allowing shoppers to search for products using specific use cases rather than brand names or items, providing curated lists of products based on terms like "a football watch party" or "help me plan a unicorn-themed party for my daughter.

Automated Document Processing

The GenAI platform, Stardox, automates document processing for the logistics provider, streamlining tasks like invoice and contract handling. This reduces errors and improves efficiency. 

Stardox's Gennesys module helps generate accurate and compliant documentation, ensuring 100% accuracy and minimizing the risk of delays or penalties associated with customs compliance.

By automating data capture and processing, Stardox reduces manual errors by up to 90% and significantly improves data accuracy. Plus, Stardox reduces data processing time by over 80%, allowing providers to access critical insights faster as market conditions and customer demands change.

For example, commercial invoice processing time is reduced from 50 minutes to 50 seconds. RFQ generation time drops from 60 hours to 40 seconds for 500 lanes. And customs clearance form accuracy increases from 40% to 100%, resulting in faster cargo release.

Final thoughts

In this GenAI-powered supply chain, collaboration and data sharing become the norm. Blockchain-based platforms and GenAI enable secure and transparent data exchange among stakeholders, fostering trust and efficiency. Smart contracts automate payments and enforce agreements, reducing disputes and streamlining transactions.

Stardox offers a revenue-generating solution to the data structuring challenge. By seamlessly integrating with existing WMS, TMS, and ERP systems, we can have you running in four weeks with minimal disruption while seeing ROI within three months. Can we take you through a demo?