4 Technologies that are Giving the Logistics Industry a New Dimension

4 Technologies that are Giving the Logistics Industry a New Dimension

By Logistics Tech Outlook | Friday, September 13, 2019

The incorporation of new technologies into the logistics sector is enabling organizations to significantly reduce downtime and streamline their workflow.

FREMONT, CA – The logistics sector is going through a technological revolution, paving the way for efficient delivery of goods and services from one point to another. It has enabled organizations to streamline the processes of the supply chain. The robust solutions have created new opportunities for logistics companies to significantly improve the functional areas of management. To maintain a competitive edge in the market, however, organizations will have to incorporate the right technology for the right application.

The incorporation of robust information, communication, and automation technologies have augmented the speed and accuracy of identification, data gathering, processing, analysis, and transmission. Logistics companies are increasingly becoming aware of digital evolution. They are changing their conventional approaches, investing in technology to fuel innovation and enhance the overall efficiency and effectiveness of the logistics system. The transformation in the industry has led to the automation of business processes in various segments.

Following are the technologies that are transforming the logistics industry:

1. Automation Technology

The logistics sector involves intensive document and paperwork, with almost countless forms being generated throughout the product and service lifecycles. The implementation of document process automation can streamline the operation considerably. It will enable the organizations to efficiently capture, index, and archive the various forms, invoices, and emails from multiple sources. It also allows organizations to meet the compliance requirements, decrease the cost of data capture, and enhance the customer clearance process. Several logistics giants are investing in warehouse automation systems, including automated storage and retrieval systems. The incorporation of mobile robots can not only streamline the movement of products around the warehouse but also lead to the reduction of labor cost.

2. Advanced Analytics

The digitalization in the logistics sector is leading to the generation of vast volumes of data from multiple sources. By incorporating big data technology, organizations can consolidate the data into a centralized system, harnessing its value to achieve business intelligence, and inform robust strategies. The insights obtained from the analytics can be used to optimize resources, delivery time, labor, geographical coverage, and capacity forecast. It offers vital market intelligence, enabling organizations to predict supply chain risks and form relevant strategies. Armed with reliable analytics tools, organizations can not only get actionable insights on the global flow of goods but also collect localized information.

3. Cloud Computing

Logistics companies are incorporating cloud technology to achieve network convergence and connected storage technology, leading to higher productivity and return of investment. The cloud-based infrastructure enables users to access applications and information from anywhere, regardless of the device and location. It offers higher flexibility to the supply chain personnel, empowering enhanced monitoring and communication. Organizations can also leverage the capabilities of cloud computing to access applications from their mobile devices.

4. Internet of Things (IoT)

As IoT technologies are becoming more popular cost-effective, organizations are leveraging the technology to establish connectivity and visibility into their operations. Radiofrequency identification (RFID) and automatic identification and data capture (AIDC) are being integrated with IoT technology to increase efficiency and streamline the shipping process. It facilitates real-time insight into the shipping locations, estimated time of delivery, and several other crucial factors. Organizations have also been able to reduce downtime and speed up workflow for shipment processes.

As technology progresses, it equips the logistics sector with new capabilities. It will potentially enhance the performance and competitiveness of supply chain organizations, introducing greater efficiency and effectiveness into the logistics system. Hence, organizations need to incorporate the right technology to their vital supply chain operations.

Weekly Brief

Read Also