Modern technologies are revolutionizing all industries and logistics is no exception. The rising popularity of social media and connectivity has brought drastic changes in customer expectations, forcing companies to focus more on their logistics department to meet these changing customer needs. The competition in this field is also exceptionally high. The use of modern technologies can help you to find an edge in this competitive market. Here are some logistics trends that would bring huge changes to the industry in the future.
- Cloud Logistics
More than half of the logistics providers around the world are now using cloud-based systems for their services and the rest are about to follow suit. Remote-hosted processes and data will have a crucial role to play in the logistics sector in the future. Studies have shown that more than 70% of logistics companies are preparing to use cloud systems in their operations. Cloud services offer real-time access and flexibility to operations software and critical intelligence along with allowing measurement of the highly responsive pay-per-use and on-demand business models that are gaining wide acceptance in the logistics market. Security and data migration are still troubles for the industry and high data traffic increases processing time. However, the savings in time and money is giving more attention to cloud logistics.
Blockchain is a decentralized ledger technology that can transform the logistics industry. They offer transparent and secured transactional links that can avoid complex transactional processes. Thus, the technology eliminates the troubles of fraud, delays, paperwork, and a rise in costs throughout the supply chain. However, blockchain technology has to prove its potential by solving the issues associated with cryptocurrencies. But the secure interconnectivity blockchain offers can improve payment speeds and provide more transparency in the future.
- Internet Of Things
The connectivity offered by IoT of Internet of Things can increase operational efficiency and security, and maximize usage. The smart sensor market is experiencing steady growth globally, which is expected to touch $60 billion very soon. When there is consistent data flow between the logistics providers and the devices, supply chains will become self-maintaining and self-monitoring. Smart sensors can be used in the warehouses to command the robots to prepare items for packing or pick up and onboard telematics can be used to improve delivery routes with autonomous vehicles. Thus, it completely transforms the way logistics operations currently run.
- Artificial Intelligence
The logistics industry will experience an incredible increase in efficiency through augmented human skills and managing back-office duties using AI. Ai-based automation uses data collected from IoT systems to transform into a predictive tool in different processes including warehousing, where this tool can easily find the upcoming variations in the demands to avoid overstocking or shortages. It uses computer vision and robotic systems to operate mechanical processes. The use of assistive bots will offer enhanced customer experiences. AI analysis of demands can be also used in retail and marketing strategies. Many logistics companies have already started using AI, some in customer support while others in more professional duties.