Logistics is all about getting goods and services from point A to point B. It is not a trivial task to understand, manage, and plan logistics in a simple programmatic approach. What is called last-mile logistics is how the end product or service actually gets to the end user.
Many on-demand applications and services are experiencing a shortage of time connecting the logistics piece together, particularly the location and mapping capabilities. A business called HyperTrack, which claims to be the worlds largest community of logistics technology builders, wants to provide logistics software that lets developers focus on what is important to their business.
The HyperTracks platform provides logistics developers with a simple API to connect and access complex logistics workflows. The platform is also supported by a reinforced machine learning model for artificial intelligence (AI) that helps to optimize logistics.
On October 4, MetaBeat will gather thought leaders to discuss how metaverse technology will transform the way all industries communicate and conduct business.
HyperTrack announced today that it has raised $25 million in a series A round of investment headed by WestBridge Capital and existing investor Nexus Venture Partners.
HyperTrack fits into the supply chain management business, which is expected by MarketsandMarkets to generate $28.9 billion in 2022, growing to $45.2 billion by 2027.
The HyperTracks API addresses the complexity of last-mile logistics.
Last-mile logistics has traditionally involved developers stitching together multiple systems in an on-demand economy.
Deorah explained that, for example, once an order has been accepted, the company must complete route planning, order assignment, and tracking throughout the delivery process.
According to Deorah, one of the most essential components of any logistics stack is that there is a brain in the system that tracks who does what and who sends the driver the package.
The myriad of data and location tracking systems an organization employs, as well as the different data access methods that developers must employ for both Android and iOS mobile operating systems, add to the complexity.
Deorah pointed out that doing something as simple as determining how far a driver travels ends up involving the use of mobile cloud and map technologies. Thats the part where we think it should be as simple as writing a SQL query or calling an API.
How reinforcement learning enhances last-mile logistics
The HyperTrack platform makes use of artificial intelligence (AI) to improve logistics accuracy and efficiency.
Deorah noted that key characteristics for customer fulfillment in the last mile are the actual address, the time it takes to get to the address, and what is the most efficient route to get to the location. That's one of the ways where HyperTrack is using AI to augment its performance.
Deorah said that with every order, we are inferring the correct customer address, the service time, and the route, and that this information is fed back into better planning and assignment. So every order makes the quality of the next order fulfillment better.