MarineXchange Receives Government Grant for Artificial Intelligence Project
The Austrian Research Promotion Agency (FFG) has officially announced to support the development of an AI (Artificial intelligence) forecasting project with MarineXchange (MXP), which provides enterprise software solutions to the cruise industry.
“Accurate supply chain forecasting is a huge challenge for the cruise industry,” MXP said, in a press release .”Because ships are deployed worldwide, items can have different specifications and pack sizes. Consumption patterns depend on guest profiles, seasonal items, substitutions and menu cycles. Vendor performance, freight and currency exchange rates need to be considered. The overall CO2 impact, waste reduction and fair trade are additional factors. To aid cruise companies in this complex decision-making process, more accurate forecasts are needed.”
By using AI, Big Data Analysis and Deep Learning methods, MXP will take marine Supply Chain Management to a whole new level, according to the company, by using the latest technologies like cloud computing.
The new AI forecasting module will be fully integrated with the MXP enterprise supply chain software and e-commerce portal.
MXP noted that the Austrian government considers this project highly innovative and with great potential and supports it with a grant.