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.
NodeIQ automates strategic supply chain decisions that impact four key areas: flow, location, inventory, and strategic sourcing, per its maker. 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.
“A black swan event like the pandemic demonstrates the importance of agility in the supply chain,” said Krishna Khandelwal, chief business officer Locus. “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.”