How Quantum Computing Will Power the Future of Logistics
(SupplyChainBrain) Quantum computing is one of the most promising technological innovations likely to shape, streamline and optimize the future of the supply chain. It offers better insights to make better decisions. That’s why there’s so much excitement about it.COVID-19 taught us the importance of supply chains when everything from raw materials to finished goods became delayed or simply unavailable to manufacturers and retailers. The dynamic nature of the full supply chain is now a given, demanding significant shifts in the way we view optimization.
- Businesses must be flexible enough to respond quickly when disruptions occur. Yet unfortunately, most are not agile:
79% of companies use spreadsheets for supply chain planning.
Less than 25% say their supply chain plans are integrated with their company’s manufacturing, procurement, or sales departments.
54% say they have limited or no ability to measure supply chain trade offs across departments when making decisions.
Many of us have heard of the traveling salesman problem, which can be compared to truck routing and how to optimize the routes, as well as the trucks. A classical computer would struggle under the weight and scale of a vast set of possibilities. This is where quantum computers promise to take on the task to quickly produce options to choose from to make the best decision based on your goals.
Complicated scenarios meant to solve for multiple variables are not achievable by a classical computing algorithm in a short span of time. However, algorithms using quantum computing techniques can quickly achieve this simulation using a classical system applying quantum techniques, or a hybrid solution that employs both quantum and classical, today.
Accenture concurs, stating, “Route-optimization algorithms are helping reduce mileage and improve on-time delivery rates. In logistics, quantum routing uses cloud-based, quantum computing to calculate the fastest route for all vehicles, taking into account millions of real-time data points about traffic congestion.”
NOTE: IQT-NEWS has summarized here the lengthy article by Robert Liscouski is president and CEO of Quantum Computing Inc.