The globalization has revolutionized supply chain and logistics industry, which is now seeking to implement a value-based approach to enhance the consumer experience.
FREMONT, CA: In the age of the great Roman Empire, the most effective form of logistics was employed by its mighty legions. The amazing network of roads, mobile units of artificers and technicians, and fortified supply depots formed the basis of its military might. The efficiency of their logistics allowed their forces to move faster than others, aiding them to conquer and rule almost half the populated world. However, time has changed, and so has the logistics sector.
In this age of digital technology, consumers expect value-based services. In the United States, the logistics and supply chain has transformed into a $5 trillion industry. The rapid urbanization and disposable incomes as spurred the development of retail channels, enabling effective inventory management and warehousing solutions. To retain their position in the market, logistics companies are implementing new strategies to deliver customized services to consumers.
The continuing shortage in labor has urged several logistic industries into automating their processes. It has introduced efficiency and productivity into the organizations, aiding them in filling the much of the vacancies. Incorporating automation technology into the warehouse and distribution channels can bring significant benefits, including streamlining the entire logistics process.
Blockchain has the potential to change the landscape of logistics. The incorporation of the emerging technology will enable the organizations to track and trace products, control data, permit and rescind data visibility, while at the same time, ensuring data privacy, and autonomous contract execution. Blockchain holds the most promise in financial transactions. It not only provides speed but also eliminates the need for third-party intervention.
AI, AR, and Smart Apps
The incorporation of artificial intelligence (AI) platforms will enable companies to automate repetitive processes and drive supply chain efficiency. Also, digital technologies such as augmented reality (AR) and smart apps can assist the workers in streamlining the processes. The digitalization of invoices, purchase orders, and financial documents will allow faster methods. The manual processing of data is not only a time-consuming process but will also limit the accuracy. The automation of these processes can enable organizations to divert their labor toward troubleshooting and customer service. Hence, organizations need to train their employees and implement robust digitalization for enhanced productivity gains.