MarineXchange has been awarded the AILEVATOR Award 2024 for its AI-powered supply chain forecast solution.
The AILEVATOR Award, presented by the Know Center, a research institute in Graz, Austria, recognizes significant advancements in artificial intelligence addressing business challenges and creating substantial value for the economy, society and the public sector, according to a press release.
In cooperation with the Know Center, MarineXchange has developed a sophisticated AI solution to address the numerous challenges cruise lines face when forecasting future consumption for contracts and replenishment of supplies on ships.
Depending on the item, the MXP AI solution automatically applies different algorithms to analyze consumption patterns based on the ships’ deployment regions, cruise length, guest demographics, nationalities, age groups, time of year, holidays, menu cycle and special events.
Accurate forecasts lead to noticeable improvements in supply chain efficiency and resource utilization. For the office, the solution provides a valuable tool to project quantities for next year’s purchasing contracts. For the ships, the provision master can order the correct quantities and maintain proper inventory levels.
Among nearly 100 submissions for the award, the jury identified the MarineXchange supply chain forecasting solution as one of the most groundbreaking.
“Our AI-powered supply chain forecast solution is setting new standards for operational excellence and sustainability in the cruise industry. We are thrilled to receive this recognition from the Know Center and are proud of the transformative impact our technology has on the industry,” said Aneta Ivanovska, Ph.D., Director of Artificial Intelligence at MarineXchange.
“At MarineXchange, we use advanced AI to address numerous operational challenges in the cruise industry. Our award-winning supply chain forecast service, recognized by the Know Center’s AILEVATOR Award, is part of our state-of-the-art AI solutions, including AI-powered sales recommendations and an AI self-service assistant in the MXP365 guest mobile app. Overall, our solutions enhance guest services, optimize procurement processes, and set new standards for operational efficiency and guest satisfaction onboard ships.”
