New technologies such as IoT, big data, blockchain technology, and cloud logistics are now slowly making their way into becoming a permanent element that will help drive the tactics of logistics in the digital world up a notch. With the constant demand of online users for more security, quick searches, modified algorithms, and immaculate online experience, developers are inventing new drivers of the future of logistics.
Key Technologies That Will Drive the Future of Logistics
The electronic Air Waybill is the industry’s first step in digitalising the logistics of cargo shipping and delivery. It will significantly enhance the process of tracking and processing. It also increases transparency while decreasing freight and delivery costs. e-AWB also makes sure that the parcel is delivered on time and secure. This technology will eventually open doors for other technologies. Airfreight technology such as big data and cloud logistics will benefit from this universal technology.
2. Big Data and Machine Learning
In the world of the internet, data is the most crucial commodity. It is a valuable asset to all industries banking in the digital world. If the data is optimised correctly, it has a great potential for revolutionising all sorts of business models. Logistics will play a huge role in terms of analysing and merging data streams. With the presence of AI in the system, logistics and data will be able to deliver new insights and give a more reliable and accurate forecast. It will also help optimise routing, assess risk, manage risk, and predict valuable insights. With big data and machine learning in the logistics industry, 49.% cost of operations will be reduced whole driving a 44% growth in innovation. (Results are based on a research conducted by First Aid Works ).
Merging relative data in a certain industry will help companies deliver real-time solutions. For example, if you merge data from the weather, traffic, and shipment data, real-time route optimisation will be available which will help the driver take on a route that will be faster and with less traffic. It will eventually lead to providing exact ETA.
3. Cloud Logistics
Up to 50% of logistics providers are adopting cloud technology. Logistics for demand IT services will be more flexible and business owners will enjoy an on-demand pay-per-use model. Start-ups and small businesses will eradicate the expense of monolithic IT services structure but will rather pay only for when they need the service and the cost of that service.
The supply chain data will be all safe kept in a big cloud that will form a singular combined global information that will be useful for online businesses. It will also enhance the edge of computing where data access will be easily accessible.
4. Internet of Things (IoT)
IoT will be the ultimate game-changer in the world of the internet. It will emerge with new generation sensors and connectivity that will allow practical connection to anywhere in the internet platform. IoT will also promote traceability and transparency between the shipper and the customer.
Smart trucks will also have the ability to collect data regarding their movements and timeframe during the delivery phase. It will help maximise fleet and decrease maintenance expenses.
IoT will also help keep the goods in pristine condition. Sensors will monitor sudden temperature changes and humidity to identify whether or not the goods inside the parcel is still in good condition. It will help prevent dissatisfied customers while being able to create a stronger and more trusting relationship with your consumers.
5. Blockchain Technology
Blockchain is here to stay. Its enormous potential to connect and make every internet element efficient is something of value in the digital era. It will increase transparency, decentralise data, and improve traceability. It will break down complex operations and deliver a simpler yet more efficient strategy.
Blockchain protects sensitive data from getting tampered and supply chains will enjoy a more efficient operation. It can also possibly lead to automatic invoicing and payment methods which will help businesses deliver fast but safe transactions.
Logistics is an important factor in the online shopping industry. It will align all the relative factors that make freight easier, faster, and transparent. With the presence of the technologies mentioned above, the supply chain will have better, faster, and safer operations. It will help drive businesses online in terms of offering fast and secure transactions.