March - 20208 logisticstechoutlook.comIn My OPINIONTechnology in logistics has become increasingly prevalent and its effect on the industry has been manifold. Businesses are expected to use it, and not praised for doing so. It has fundamentally changed the way businesses work, be it by transforming the supply chain, changing the ways in which suppliers meet their customers' needs or how they strategise for the future.Internet of ThingsData is the new major asset in logistics. One of the many ways this data is collected in the evolving supply network is through the massive growth in connected assets and products. This connectivity, forming the Internet of Things (IoT), generates and communicates much more information from the supply chain than we have seen in the past. Through cloud-based technologies, increased network connectivity and the ubiquity of sensors, the IoT has developed considerably in recent times and is no longer just a concept or a technology reserved for agile start-ups and asset-rich multinationals.There is also an expectation that manufacturers and retailers must now employ a host of technologies to ensure the supply chain is fully connected, whether it is order tracking and inventory management, or a full Warehouse Management System. As these systems link with others across the business - sales, transport, returns management or a combination of these - firms need to consider whether logistics companies have the capabilities to connect seamlessly with their own technologies.Businesses are seeing the true benefit of investing in their IT infrastructure to support the integration of massive amounts of IoT data to make sure they meet customers' expectations. A variety of systems and data repositories needs to be able to communicate with each other and allow all data in the network to be viewed together. To enable this, investments in IT foundation and platforms to properly collect, analyse and distribute data from sensors throughout the supply network is vital. If executed properly, the investment can open up opportunities for new business models; something progressive firms recognise and are actively pursuing.What further benefit will this new technology and investment bring in the future? Firstly, it has the potential to add an unprecedented level of supply chain visibility. Real-time information collected from assets and products Technology In Logistics and Its Impact On The BusinessesRichard Gifford
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