Top tech trends in supply chain & logistics shaping the future.
From all perspectives, technology brings dramatic changes in every aspect of our day-to-day life, revolutionizing our traditional approach to getting things done. The transport, logistics, and supply chain industry is no exception. The emergence of new-age digital technologies and innovative business models is drastically changing the outlook of transport, logistics, and supply chain management.
1. Internet of things (IoT) for Fleet Management.
The Internet of Things (IoT) has the potential to transform the transport industry by profoundly altering how transportation systems gather data and information by bringing together the major technical and business trends of mobility, automation, and data analytics. IoT refers to the networking of physical objects through the use of embedded sensors, actuators, and other devices that can collect and transmit information about real-time activity in the network.
The following are advantages of IoT in the Supply chain and Logistics Industry:
- Telematics for Fleet Management.
- Global Visibility for Delivery Management.
- Increased Customer Satisfaction.
- Meeting Regulatory Compliance.
- User-based Insurance and Recovering Stolen Vehicles.
- Defining Future Market Relationships.
2. AI and ML for optimization of routes
AI has emerged as one of the most important and efficient technologies in various industries including transport, logistics, and supply chain. Digitally transformation in the transport, logistics, and supply chain industry has opened new doors to efficiently manage the operation, scheduling, and gain end-to-end visibility. AI computing methods make it easy to analyze huge volumes of data in a sophisticated and efficient manner.
The following are advantages of AI and ML in the Supply chain and Logistics Industry:
- Accurate Inventory Management.
- Warehouse Efficiency.
- Enhanced Safety.
- Reduced Operations Costs.
- On-Time Delivery.
3. Transportation Management Systems (TMS)
The Transport Management system (TMS) is a game changer in the industry. The TMS automates the transportation process and makes moving freight efficiently, reliably, and affordably. It provides businesses to handle a wide range of freight, from small packages to large shipments of commodities. It provides a cutting edge over the competition. One can have a customized TMS solution for providing a better experience according to their customer demand.
The following are advantages of the Transport Management System in the Supply chain and Logistics Industry:
- Better Customer Service.
- Improved Warehouse Productivity.
- Tracking Deliveries.
- Inventory Management.
- Lower Shipping Costs.
- Supply Chain Visibility.
- Enhanced Routing Capabilities.
- Aligned Dock Scheduling.
- Load and Route Optimization
4. Cloud Computing for data protection and Real-time Vehicle Tracking
The cloud-based solutions find their application in many industries having a wide range of diverse customers. The cloud computing solution provides flexibility and scalability which make it nearly a one size fits all solution. Transport, logistics, and supply chain companies can leverage cloud-based solutions as a way to keep, share, and secure information and data. Data is a priceless asset in the transport, logistics, and supply chain industry, especially nowadays, wherein it’s vital to have access to actual data for decision making. Utilizing cloud computing is the best way to manage such a critical asset.
The following are advantages of Cloud Computing in the Supply chain and Logistics Industry:
- Increase in efficiency.
- Data protection through redundancy.
- Providing a cost-efficient alternative.
- Real-time Vehicle Tracking.