The logistics industry decides the market value of things around the world and has been the most beneficial business in recent years. Due to the high demand, change in lifestyle, and increase in population, the E-Commerce and Supply Chain industry is leading the way with software trends in the logistics industry. However, supply chain and logistics are considered to be the most competing and challenging business across the earth.
Now while thinking back it feels like all those manual works have slowed down the movement of our world till now. Since manual methods are not going to improve the handling of the huge volumes of data, one should have streamlined business flow and come up with unparalleled business policies to suit the contemporary trends. Moreover, one should also learn and leverage new technologies to make this practical.
Recently, many business industries have utilized popular technologies for automation such as Artificial Intelligence, Cloud Solutions, Data Analytics, Augmented and Virtual Reality, etc. These technologies encourage both small and medium-sized companies to create a useful and sound product with innovative digital solutions for Logistics Industry.
Most of the products are born out of the needs of the customers. Moreover, in this pandemic, the business has bloomed to a greater level with the choice of technologies and expectations. We at Logipulse consider the customer requirements every time we update a new version of the app.
Major trends that we think could lead the year 2021:
Artificial Intelligence and Machine Learning
Algorithms based on the data obtained from the earlier processes. With automation, we can overcome human errors and bring a quick lift to the market.
By adopting Artificial Intelligence we can experience more visibility, better business automation, reduced errors, and a considerable difference in profit growth.
Artificial Intelligence, Machine Learning, and human intelligence together can make the process hands free. Many jobs can be done amazingly fast with improved flexibility, end-to-end consumer assistance, and greater reliability.
More Advanced Data Analytics
The only way to get a clear idea of the success of any business is through the analysis of data for analysis and this data would, in most cases be enormous, which would make managing and storing the physical data difficult…The only viable solution would be to store the data in a digitalised form.
With Data Analytics logistics can get to understand the busy and peak seasons, optimize the course by avoiding busy routes in shipping, easier employee administration, and know the requirements and be ready for supply shortages ahead. With Logipulse, customers will get analytical KPI’s to have a magnified forecast in their business processes.
Automated Warehouse Management
2020 has highlighted the challenges of providing inventory and supplies while trying to keep the logistics processes intact. And what is still in store for us is unpredictable.
That was the reason why many companies had to grow their warehouse capabilities, automate many operations with software tools, and even robots for supervising the warehouses, and this may continue to grow in the coming years. With companies offering same-day delivery options the stress is on to deliver faster without jeopardizing quality. Automated warehouse management assures fast packaging methods and open communication lines within and outside. It also improves trust among clients and other parties involved.
Prediction, Risk Evaluation, and Preparation
In 2020 we learned that anything could happen. Certain happenings are impossible to prevent, but there is the technology that can help you evaluate and analyze the possible risks that may exist in your supply and logistics processes, and based on that, make arrangements to face those modifications.
Prediction, risk evaluation, and preparation already existed at all times matching the requirements of each era, but now efforts must be strengthened more effectively. staying equipped for the forthcomings is important in the supply chain industry. AI-enabled devices and systems help logistics companies to do so.
Blockchain Technology is remodelling different industries including Logistics. With Blockchain Technology, the industry can protect and manage all documents with the maximum security. Though this is thought of as a puzzling concept to the people, it can make the process fully productive. Blockchain consists of an open ledger of transactions with full transparency. Therefore, no one can whack the system which also eliminates the intermission of third-party. For an industry with processes spread around the world adopting blockchain technology will be a huge leap.
IoT (The Internet of Things)
To make the process digital is quite simple, the Internet of Things plays a major role. IoT is already in common people's lives these days. More than 25% of Logistics are using Machine to Machine Technology where More than 45% have planned to deploy in the future. While adopting IoT, more than 45% of them assume it can render a huge impact.
When IoT is implemented in the Logistics Industry it can take care of the devices and employee monitoring, enhance transit visibility and connect automatically to other related segments of the organization. This technology connects with things and securing the digital process a simpler one.
The Digitization of Logistics operations can be considered as one of the fast-growing and latest trends in the transportation and logistics industry. In this year 2021, it is expected to see a lot of improvements in the Logistics industry. A triumphant organization is one that meets the customer’s criteria with a robust solution. Logipulse can surely be your partner to face everything that is about to come in your supply chain journey.