SAN FRANCISCO, March 15, 2021 /PRNewswire/ -- Noodle.ai today introduced a new category of AI software for manufacturers called Flow Operations, or FlowOps, which enables a company to, for the first time, drive toward perfect operations flow and become a no-waste enterprise.
Noodle.ai has spent five years of R&D and invested $110 million developing its portfolio of artificial intelligence software.
FlowOps technology solves the chronic problem of operations entropy in manufacturing and supply chain. Entropy is a tumble into disorder, seemingly random deviations, and unpredictable events that occur. Operations entropy leads to production problems and enormous waste: defective and obsolete products get tossed, trucks drive empty, unplanned downtime eats margins, supply doesn't accurately meet demand.
Some $2 trillion is lost every year in the supply chain due to excess inventory, product defects and unplanned downtime1,2,3, and 50% of the world's waste comes from industry4. The importance of building highly functional, resilient supply chains is so critical that it triggered the Biden administration to sign an executive order addressing the problem, underscoring the urgency for predictive solutions to combat inefficiency on a global scale.
"81% of supply chain leaders think AI is the most important technology for their future," according to Gartner5. In addition, distinguished VP Analyst at Gartner, Noha Tohamy recently stated, "AI impact on supply chain is transformational. By augmenting the ability to synthesize data, identify patterns and arrive at conclusions, AI supports humans' ability to analyze information and make data-based decisions. AI supports the vision for automation across the supply chain."6
"We all should have a particular respect and empathy for front-line professionals who are responsible for manufacturing and distributing products. They have it rough and are the core of how we feed, clothe, and sustain society," said Stephen Pratt, CEO of Noodle.ai. "Factories and supply chains are designed to flow perfectly. When we see the seemingly random disruptions to flow, factory and supply chain professionals bear the brunt of the noise. We are happy to announce that help has arrived with Flow Operations. For the first time, these professionals can see through the fog of entropy, eliminate waste, and restore flow."
Noodle.ai's FlowOps technology product portfolio is comprised of five applications: Asset Flow, Quality Flow, Demand Flow, Inventory Flow, and Production Flow. The applications look for patterns in a company's operations, predict possible scenarios, continuously learn, and make recommendations that improve the smooth flow of goods from raw materials to factories to shelf. Achieving such elegant synchronization can make industrial waste all but extinct. FlowOps is made possible by the combination of breakthroughs in high-performance computing, data storage and machine intelligence. One key to Flow Ops is Noodle.ai's use of Explainable AI (XAI), which takes in vast amounts of data about every action in a manufacturer's operations and identifies patterns that were previously undetectable.
"During the pandemic, supply chains around the world turned to Noodle.ai to effectively predict and navigate an unprecedented crisis," said Scott Darling, president of Dell Technologies Capital, a Noodle.ai investor and board member. "It also put a real spotlight on the need for FlowOps technology. This will be a requirement for every enterprise in the future, where minimizing supply chain waste will be critical in order to maintain competitive advantage and maximize profitability."
"FlowOps is more than a solution. It sets a new standard that enterprises must realize when managing complex supply chains, enabling profitability and scalability without waste," Noodle.ai's Pratt said. "This is truly a roadmap to a world without waste."
Noodle.ai is the world leader in FlowOps, a category of AI software that aims to eliminate operations entropy across an entire supply chain, from raw materials to shelf. Noodle.ai applies advanced data science powered by Explainable AI (XAI) to take in vast amounts of data, detect patterns, predict outcomes, and restore flow to business. The FlowOps product offering- Asset Flow, Quality Flow, Demand Flow, Inventory Flow, and Production Flow, works together to dramatically improve operator effectiveness in supply chains and manufacturing in order to create a world without waste. www.noodle.ai
1. ASQ, Quality Improvement Guide, 2013
2. The World Bank, Current U.S. Manufacturing Spend, 2021
3. The Hackett Group, US Working Capital Survey, 2019
4. Zion Market Research,Global Industrial Waste Management Market, 2019
5. Gartner, Moving Supply Chain AI Pilots Into Production, July 2020
6. Gartner, Hype Cycle for Supply Chain Strategy, 2020, August 2020