Locus launches smart supply chain decision-making platform NodeIQ
April 9, 2021: The global B2B SaaS company, Locus, announced the release of a new product: Locus NodeIQl, a smart supply chain decision-making platform that enables companies to perform end-to-end network and inventory optimization.
April 9, 2021: The global B2B SaaS company, Locus, announced the release of a new product: Locus NodeIQ, a smart supply chain decision-making platform that enables companies to perform end-to-end network and inventory optimization.
Locus, which focuses on fast-moving consumer goods (FMCG), consumer packaged goods (CPG), retail, home services, third-party logistics (3PL), e-commerce and industrial enterprises, provides a portfolio of products that drive efficiency with AI and machine learning. Locus automates decision-making to optimize every facet of logistics, such as route, capacity and network design.
NodeIQ takes it to the next level, automating strategic supply chain decisions that impact four key areas: flow, location, inventory, and strategic sourcing. With NodeIQ, users can optimize the movement of goods, from raw materials to delivery of finished products, identify optimal facility locations to address supply and demand gaps, optimize stock levels and improve strategic sourcing. NodeIQ factors in real-time constraints like service levels, lead times, costs and capacity to minimize costs and maximize efficiency.
Krishna Khandelwal, chief business officer Locus, said, “A black swan event like the pandemic demonstrates the importance of agility in the supply chain. But supply chains are enormously complex, and depending on the scope of the operation, the number of factors to weigh in while making the right strategic decision is truly beyond human capacity. NodeIQ’s AI-powered strategic decision-making capabilities let enterprises make the right strategic choices so they can stay agile and optimize results at every level.”
Locus NodeIQ uses a digital twin approach to make it easy for clients to test various scenarios and drill down to specific segments of the supply chain to assess potential impact. As a result, Locus customers operate more efficiently and are able to respond quickly when business conditions change.
“When Covid-19 hit, demand-supply planners, procurement managers, supply chain analysts, e-commerce and warehousing specialists and other supply chain leaders at organizations around the world came together to assess how the pandemic was affecting the supply chain and make decisions on how to move forward,” Khandelwal observed. “Lack of digital visibility hampered this effort for too many enterprises. Locus NodeIQ and our complete portfolio of solutions can provide that visibility.”