The global supply chain and logistics industry are experiencing significant advancement because of the introduction of new and innovative technology tools. Many companies in these sectors are equipping themselves with innovative technology tools for improved functioning of their business processes and efficient growth. Here are a few trends that are transforming the global supply chain and logistics industry.
Blockchain: The blockchain technology is slowly gaining steam in the digital space because of excellent security and transparency it offers to the data and processes. Blockchain technology allows supply chain companies to track all the transactions safely and securely with utmost transparency. It allows all the players including customers involved in the transactions process to be updated with the entire product lifecycle. This helps companies to save time and cost with improved consumer trust.
Hyper-Personalization and Hyper-Localization: Chatbots have come a long way in offering effective solutions. These chatbots provide able support in offering hyper-personalization through customized services based on a customer’s requirement. The traditional approach of one-size-fits-all does not apply in today’s business environment. AI-enabled chatbots can also address any customer grievances in real-time, helping companies to retain their customer base. Hyper-localization is another aspect on which any logistics companies are aggressively working on to improve their services. Companies need to build a robust supply-chain process to deliver products without any delays.
Lightning deliveries amidst capacity crunch: Express delivery services have become a necessity for supply chain companies. The customers even opt for paid services in order to get their delivery fast. Supply chain companies are facing many issues like Volatile demand patterns, throat-slitting competition, rising fuel costs, and expediting deliveries, which is hampering the growth of these companies. Companies need real-time solutions that allow them to have predictive visibility, intelligent capacity planning, and flexible process control mechanisms.