In today’s interconnected world, supply chains form the backbone of business operations. As companies source materials and components from around the globe to meet consumer demands, supply chains have become intricate webs spanning across continents.
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Managing these complex supply networks requires real-time visibility and efficient coordination between suppliers, manufacturers, transporters, warehouses, retailers, and more. This depends on the seamless flow of information at every touchpoint.
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However, a 2022 study found that nearly 60% of supply chain professionals handle data manually. This reliance on error-prone human entry, review, and analysis of supply chain documents slows down processes and hampers productivity.
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Without accurate data, supply chain continuity breaks down. Lost invoices lead to payment delays, incorrect inventory numbers create production bottlenecks, and incorrect delivery addresses result in shipment losses. These data-handling mistakes translate to major revenue losses.
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The solution lies in supply chain document automation – streamlining data flows by using technology to automatically extract information from purchase orders, invoices, shipping notices, bills of lading, and more.
Understanding Supply Chain Data Automation
Supply chain document automation refers to the use of specialized software to automatically classify, extract, and process data from supply chain documents. Optical character recognition (OCR), intelligent document processing, machine learning, and robotic process automation (RPA) are key technologies enabling end-to-end automation.
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OCR software can identify text and critical information in scanned documents and images, eliminating manual typing and preventing human error. Intelligent document processing solutions like Kudra analyze document context to pinpoint the required information accurately.
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Integrating document automation delivers tangible improvements:
– Accelerated approval and processing of orders & payments
– Real-time visibility into inventory and shipments
– Faster invoice, shipping notice, and delivery order generation
– Reduced operational costs by cutting manual work
– Minimized revenue losses from process delays and errors
– Enhanced supplier, transporter, and customer relationships
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By optimizing information flows, document automation also paves the way for advanced analytics, forecasting, and supply chain optimization. Intelligent Document Extraction for Logistics and Supply Chain is the solution!
Kudra: AI-Powered Supply Chain Data Processing
Kudra is an AI platform designed to extract accurate data from diverse document types, saving thousands of manual processing hours. Its unmatched document understanding capabilities stem from deep learning and natural language processing.
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While traditional OCR software struggles with complex documents, Kudra’s AI models provide context-aware analysis for precision information extraction. It processes everything from structured forms to emails and handwritten notes.
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By combining computer vision and language understanding, Kudra achieves document comprehension – a human-like grasp of the meaning and context behind documents. This enables the flexible and accurate data extraction needed to handle real-world supply chain documents.
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For supply chain companies, Kudra offers:
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1. Pre-trained and Customizable AI Models: Kudra’s library of pre-trained models allows quick deployment for common document types like delivery notes, invoices, packing slips, etc. Users can also train custom models for specific document templates or unique information extraction needs.
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2. Multi-format Processing: Kudra handles PDFs, Word documents, Excel sheets, emails with attachments, scanned images, and even handwritten documents.
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3. Validation Checks: Kudra identifies mismatches between purchase orders, goods received notes, and invoices to prevent fraudulent or inaccurate payments. It also flags documents failing compliance checks.
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4. Automated Workflows: Kudra links extracted information across multiple systems like ERPs, accounting software, inventory databases, and TMS based on rules and validations tailored to your workflows.
Accurate Supply Chain Data Extraction with Kudra
With built-in OCR and AI-powered comprehension, Kudra precisely extracts text, tables, fields, sections, signatures, logos, and handwritten notes within documents.
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It adeptly handles semi-structured documents like delivery dispatch notes and complex multi-page legal agreements, unlocking information locked away in attached annexures and addendums.
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For unstructured data like emails and PDF attachments, Kudra’s NLP capabilities analyze the context and content to pull out relevant information. This allows automating previously manual supply chain processes like identifying shipment ETAs from customer correspondence.
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By processing both images and file formats like Word, Excel, and PDFs, Kudra enables end-to-end digitization of supply chain documents – the foundation for efficient information flows.
Streamlined Logistics Documentation
Logistics management depends on data flowing between freight forwarders, carriers, warehouses, retailers, and more. Kudra saves thousands of manual processing hours by extracting shipment-critical information.
It adeptly handles air waybills (AWB), bills of lading (BL), cargo manifests, shipping notices, dispatch notes, proof of deliveries (POD), and other transport documents.
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Kudra’s AI instantly classifies these documents and locates key details like:
– Shipment descriptions
– Product weights and dimensions
– Consignee and shipper addresses
– Container and seal numbers
– Driver information
– Vehicle registration numbers
– Pickup and delivery dates
– Packaging and pallet details
– Temperature requirements
– Dangerous goods declarations
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By auto-populating forwarding orders, warehouse management systems, TMS software, and customer portals, Kudra enables real-time shipment tracking and supply chain transparency.
The Power of Ease: Effortless Productivity with Kudra
While traditional document processing software requires complex setups, Kudra simplifies automating workflows with an intuitive drag-and-drop interface.
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It provides pre-trained AI models for many common documents like purchase orders, shipping notices, and ID cards. Users can also train custom models with just a few examples to handle unique documents.
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Kudra also seamlessly integrates document automation with popular business tools. Extracted information auto-syncs with platforms like Dropbox, QuickBooks, Google Sheets, MySQL, Salesforce, and SAP.
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For ad-hoc document analysis, users can leverage Kudra’s built-in ChatGPT interface to get AI-generated insights. With a simple prompt, it summarizes key clauses in contracts, classifies documents, or extracts tables into Excel.
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By blending automation with human-in-the-loop oversight, Kudra supercharges productivity. Supply chain teams can now handle exponentially growing document volumes without being overwhelmed. To know more about Kudra’s features, take a look at our article: The Best Data Extraction Tool For Your Logistics Documents
Automating Supplier Invoices at a Steel Manufacturing Company
A steel manufacturer was grappling with over 15000 supplier invoices annually, leading to processing delays and payment errors. AP clerks entered data manually into their ERP system from PDF invoices.
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Kudra automated the entire workflow by training a custom AI model to extract key details from their complex multi-page invoices and integrate them with the ERP.
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Now invoice data flows seamlessly into the ERP system after automated validation checks. Cutting invoice processing time from 15 minutes to 30 seconds, freed up the AP team for more value-add work.
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They achieved over 99% OCR accuracy, eliminated payment errors, and reduced processing costs by 80%. Suppliers also benefited from faster payments.
Optimizing Warehouse Operations for a Retail Giant
A leading fashion retailer struggled with near-constant stockouts at stores due to poor inventory visibility. Store associates entered shipment delivery details manually into the WMS. Incorrect or duplicate entries resulted in incorrect stock counts.
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By using Kudra to OCR scan delivery dispatch notes and extract product details, the retailer achieved real-time updates of items received at each store. Accurate inventory tracking helped optimize stock levels, leading to a 53% reduction in stockouts.
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By eliminating manual document handling, Kudra enabled the scaling of warehouse automation technologies like pick-by-vision. As the WMS integrated seamlessly with robotic pickers and automated conveyors, warehouse productivity jumped 2X.
Conclusion
Document automation is revolutionizing supply chain management the same way robotic process automation transformed back offices. By eliminating time wasted in manual document handling, supply chain professionals can focus on delivering business value and customer delight.
The Future of Document Processing in Supply Chain and Logistics Management is with technologies like Kudra! Supply chains are unlocking efficiency gains similar to manufacturing automation. By connecting information flows across organizations, supply networks are transforming into intelligent ecosystems.
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Combined with data-driven analysis and optimization, supply chain automation will create lean, agile, and resilient supply networks prepared for ever-evolving customer expectations. The future beckons the world’s supply chains to seize it.
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It’s time to explore document automation solutions like Kudra to accelerate and optimize your workflows while delighting customers with supply chain excellence. Reach out today for a personalized demo tailored to your unique needs!
