Li & Fung elevates supply chain with digitization and analytics

Apart from digitization, Li & Fung will deploy data analytics to deliver data-driven insights shared across the supply chain.

The company has started to use advanced analytics in its logistics business. It helps retailers find the best routing for products shipment such as what port do they ship the products from and to, whether to ship the products directly to a country or deliver to an intermediary location first for consolidation.

Fung said that the company will use its digital platform to collect and share data across the entire supply chain to create a data ecosystem. Artificial intelligence and machine learning will be used to process and analyze data to enable more effective and faster decisions for Li & Fung and stakeholders in the supply chain.