Supply chains are at the core of commerce, being connected to every aspect of every sufficiently advanced market as a mainstay of global trade.
Ideally, the supply chain process would work seamlessly without ever being hindered by setbacks such as delays, fraud, and waste. Unfortunately, such economic frictions, that keep any business from ever reaching peak efficiency, are nothng but a harsh reality for supply chain managers.
To better deal with these reality, blockchain-based startup Namahe has announced its most recent partnership with Adqura. The collaboration is targeted at implementing an Artificial Intelligence (AI) layer to their supply chain solution.
Adqura is a self-proclaimed expert in what it calls “decisioning,” specializing in the provision of real-time decision-making solutions. With this new partnership, the Namahe team hopes to create an automated decision-making system for its platform. They intend on doing this via a well-known element of many AI systems known as machine learning.
Through this method, Namahe plans to improve supply chains around the world with its platform by equipping it with the ability to implement corrective measures in real time. This will exclude the input of a human operator. Moreover, it could refine its skill-set to the point of being able to predict future market conditions.
Kumar Mudaliar, co-founder of Namahe, commented on the startup’s mission, saying that its ultimate goal is to drastically change the way supply chains operate:
“With the Namahe platform, we aim to massively overhaul the industries involved in the supply chain by incorporating an A.I. layer into the mix.”
As Namahe represents itself a blockchain-based platform, brands utilizing it will likely get an immediate benefit to their supply chain network through improved transparency, as the public nature of blockchain tech as an open ledger naturally provides this benefit.
The significance of full transparency will be seen in the automation of audits, eliminating the need for manually executed audits of a business’ supply chain. This fact alone would likely save millions of dollars in annual expenses.
The AI layer, developed by Namahe in conjunction with Adqura, will ultimately improve efficiency as it will constantly monitor the supply chain, allowing it to detect problem areas quicker and subsequently help firms respond to them faster.
Namahe has already launched the first phase of their crowdfunding, with their NMH token being available for purchase in a public pre-sale. Early investors can take advantage of a 20% discount during the first two weeks.