Logistics Trends in 2018
It’s going to be one of the best times for the logistics industry with the growing increase in E-commerce and with the kind of technological advancements in the form of various platforms as well as the availability of high speeds Internet connectivity. It’s technology which is playing a major role in transforming the shape of the industry today.
Logistics has become the backbone of any industry and with the advent of digitalization; companies have started forming strategies to pump in more investments in aligning their logistics affairs with the ongoing and upcoming technological trends. It’s the era of AI (Artificial intelligence which is said to revolutionize the way we perform business with more and more robotics and machine learning to be incorporated into the daily operations. Hence it’s imperative to say that the marriage of technology and logistics is surely imminent.
After going through and researching on what we have seen in the past the very nature and growth in logistics and what we are about to witness in the field of technology lets have a better perspective of the various trends which are surely going to be game changers in the logistics industry this year.
AI and blockchain have started making a big impact on the way we need to carry out our daily operations with the biggest advantage of security and transparency. What it offers is a high and impenetrable storage of transactional data which can be shared via a common platform. Blockchain and AI first certainly made their presence felt in the logistics industry this year. With the security and transparency blockchain offers, it offers an impenetrable way to store and share transactional data, while improving credibility with foolproof transactions. The blockchain is widely touted as the ultimate solution when it comes to transparency and will be more used in logistics for shipment tracking and complete product transparency. There are a number of ways where the technology will be useful in logistics as companies will be able to automate the purchasing process and improve transaction flow and secure the supply chain. Major information like the authenticity, certificates, and records as well as store origin etc can be stored on a single ledger in one electronic vault thereby decreasing cargo theft ultimately creating a very transparent and secure mode of operations.
If we need to evaluate on what are the most important elements required to stay ahead on the competition in this industry then its automation and mobility. Having understood the requirement of both these it goes without saying that if you really need to implement both of these together then there is no other way but to look towards technology to provide you just that. Don’t get surprised if you get a flying align in the form of a drone to deliver your Amazon or Flipkart purchase as these are already a thing of reality today. Yes, we are talking about Drones. These gadgets are going to be game changers and will take logistics to an altogether different level. These aerial vehicles are going to increase the operational efficiencies of first and last mile logistics along with the flexibility and speed of deliveries.
- DATA DRIVEN
Data analytics is going to be a major tool in the logistics industry and will change the existing model of anticipating your demand to more of an accurate predictive analytics based on the data collected. This will help companies plan and well align their sales forecasts and operations in advance. Companies have already started adopting Big Data algorithms to help them be more efficient in adopting service qualities that will enhance in shortening their delivery times.
- 3PLs IN DEMAND
Logistics providers are going to be strategic partners for shippers and this will see an improvement in shipper 3PL relationships with an aim to adhere to customer experience and delivery what’s best expected. 3Pls are surely poised to be a contributor to the logistics industry in a big way and dramatically shape the entire supply chain landscaped in 2018 and the coming years. More and more companies are going to choose 3PLs in an effort to drive costs down and increase their market share and competitive advantage.
- PERFECT DELIVERY
Deliver your shipment or orders to the right place, at the right time, in the right condition, with the right quantity along with right documentation to the right customer with the correct invoice. Now that’s what we can call a perfect delivery. Many companies have started to understand that such perfect orders are the best means to achieve ultimate customer satisfaction. Especially with the advent and growth of E-Commerce achieving such perfect orders are going to be a challenge and goal for many logistics companies.
The industry is looking ahead and forward and as there is going to be constant pressure to meet the ever-growing demands logistics service providers are going to be an integral part of shipper’s success. If one needs to achieve success and be neck in neck in competition then the one thing which needs to be adopted as early as possible is technology and to use the same in every possible area of deliverance. Technology, AI, IoT & Big Data are the key factors which will help the industry in driving and achieving the perfect delivery ensuring happy smiling customers.