(WO) – ASCO plans to invest £18.3 million (about $24.4 million) over the next six years in digital tools, artificial intelligence and automation for its logistics and materials management operations. The company said the investment will give clients better real-time visibility and control over their supply chains.
Much of the spending will go to developing ASCO’s Integrated Logistics Management System (iLMS), which covers its material, cargo, quayside and transport management systems. ASCO will also expand its waste management system to improve environmental reporting. These tools work alongside the company’s 24/7 operational control centers in the UK and Norway, which coordinate transport, shipping, marine and aviation activity. ASCO already uses AI-supported load optimization, automated data capture, image recognition, hazard identification and barcode- and RFID-based materials tracking.
ASCO said its digital tools have already delivered results. They include an 80% cut in materials processing time for a major global energy company and £36 million (about $48 million) in inventory savings for a North Sea operator.
“Our approach starts with the operational problem, not the technology,” said CEO Mike Pettigrew. He said the investment will support ASCO’s growth as it expands internationally and into sectors beyond traditional energy.
As part of the program, Steve Shearman has joined ASCO as chief AI officer. “The focus will be on practical applications that solve real problems and can demonstrate measurable value, rather than introducing technology for its own sake,” Shearman said.
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