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Logistics companies will only be able to remain competitive if they keep up with technology developments.
FREMONT, CA: In the digital age, it can be difficult to keep up with the latest technological developments since there seems to be something new at every step. Businesses must be vigilant and aware of the most recent innovations that can assist them in becoming more competitive.
Trends such as machine learning, artificial intelligence, the internet of things (IoT), blockchain technology, and supply chain integration can be quite helpful for staying ahead of the competition. It is now more important than ever to be aware of these logistical trends, as consumers place greater demands on businesses regarding real-time communication, technology, and delivery speeds.
All businesses, especially the logistics industry, have been impacted by technological advances. Modern consumers are technologically aware, which increases their expectations of businesses. They desire prompt delivery, real-time visibility, adaptability, and excellent customer service. Businesses cannot afford to lag behind technological trends since consumer needs can only be met with the aid of logistical technology. Technology-evolving businesses are the only ones that will thrive in the long run.
In 2020 and 2021, digital technology usage accelerated as the COVID-19 pandemic continued to impact e-commerce and the global supply chain.
A McKinsey Global Survey of executives revealed that the COVID-19 response accelerated the adoption of digital technologies relevant to the customer and supply-chain contact and internal processes by three to four years. As people have seen throughout 2021, many of these transformations are permanent. In response to the "new normal," many businesses that established short-term solutions to fulfill new needs have maintained a quick rate of change.
The logistics business was not exempt from the need to change quickly. Digitization and last-mile software are effective tools for B2B delivery operations, B2C firms, carriers, shippers, etc. The following logistics technology trends will influence the sector beyond 2022.
Automation: Even before the pandemic, on-demand deliveries increased, compelling firms to implement significant modifications, such as automation. The COVID-19 epidemic has accelerated the demand for automation in 2020 and 2021, as companies across all industries seek to reduce face-to-face interactions.
In distribution centers and warehouses, automation encompasses both process automation and physical automation. Standard warehouse automation comprises the digitization of manual procedures, pick-to-light systems with operators using barcode scanners and LED lights showing the quantity of things to be picked up and their destination, and autonomous mobility robots operating within warehouses.
Depending on the size of their warehouses or distribution centers and the volume and sorts of orders they regularly fulfill, businesses will continue to automate a variety of procedures to varying degrees.
Blockchain: Blockchain is commonly associated with cryptocurrencies, but its applications extend far beyond that. The decentralized digital ledger of blockchain can increase consumer transparency by allowing them to follow the whole route of their orders. It also increases the transparency of audits and enhances security by revealing attempted scams.
A smart contract is one logistics-related application of blockchain technology. Smart contracts enable distribution companies to decrease paperwork, automate the entire procurement procedure, and eliminate human mistakes. In addition to saving firms money and time, a blockchain-based solution removes the need for manual documentation. This facilitates the coordination of documents.