In today’s world, firms are looking for the next piece of technology that can transform and disrupt the status quo. One of these transformations is an AI-powered supply chain technology platform. Automated robotic technology is attempting to change the warehouse distribution game and got Walmart and Softbank’s attention.
Walmart recently announced an expanded commercial agreement with Symbotic which includes an agreement to expand Walmart’s use of Symbotic’s robotics and software automation platform across all 42 of Walmart’s regional distribution centers. Walmart invested in Symbotic when the company went public through a SPAC merger with Softbank Investment Advisors in April.
“The need for accuracy and speed in the supply chain has never been more visible, and we’re confident that now is the time to move even faster by scaling Symbotic’s technology to our entire regional distribution center network,” said David Gugginna, vice president of innovation and automation at Walmart, at the time the deal was announced.
Symbotic offers robotics and other AI-powered automation technology to warehouses to help them improve supply chain efficiency, a service that is much needed amid labor shortages.
Automation is helping businesses grapple with labor shortages and supply chain challenges. Businesses have been gradually adding automation to their operation processes to fulfill more orders quickly and accurately. And private equity firms are looking to jump at this opportunity.
And now Walmart, Softbank and Symbotic are looking to speed up that trend.
– Cole Lipsky