With so many growing industries today, it’s hard to keep up with the constant innovations and trends that occur. However, there are two very helpful tips when it comes to such activities. The first – you always have companies that do all the work and put it into a very simple and readable article for you. So, whether you are looking at trends in the moving industry or current housing opportunities, you can find it all out with a simple Google search. Second, you don’t have to go too far to find the information you need – you should simply rely on companies in your or a similar line of business for “the scoop”. This is why Movers Development is here today to present you with the biggest trends in logistics technology today.
9 biggest trends in logistics technology you should explore
1. Blockchain technology
If you’ve been having difficulties with monitoring your logistics processes, you can wave them goodbye with the use of blockchain tech. The introduction of blockchain technology is definitely one of the biggest trends in logistics technology presently. How does it work?
Simple – it is a specifically designed system that can help companies record transactions, track assets, and manage all the paperwork involved. This way, everyone involved in the logistics process, from manufacturers and suppliers to customers and auditors, will be able to monitor all aspects of the business in question. What does this bring to the table? Maximum transparency, which leads to improved efficiency in every department.
Digitalization is reshaping all industries, one by one. So, it was only a matter of time when the logistics industry was going to go through the transformation. And that time is now, given how the increasing digital literacy and consumer awareness through the use of different online platforms is customizing the buying process for clients.
With the coming of digitalization, logistics companies should brace for procurement and supply chain cost reductions. Another keynote here is the growth of company revenue. Put all this together and you get one of the biggest trends in logistics technology. That and the increased safety and efficiency of it all.
3. The emergence of 3PL and 5PL
Third-party logistics (3PL) and fifth-party logistics (5PL) are on the rise and accelerating the global logistics market. Given the contribution of 3PL in the past couple of years, logistics companies were able to cover a wide range of end-to-end transport and logistics, including:
- Transporting goods;
- Maintaining inventory logs and travel insurance;
- Offering a shield against property loss.
4. Last mile deliveries as one of the biggest trends in logistics technology
Here, we have another logistics trends expected to offer promising logistics market’s growth in the upcoming years. With the surge of online ordering, e-commerce businesses are more focused than ever to offer customers the ultimate buyer experience. And that solution lies in the implementation of the Last Mile Delivery process. After the introduction of same-day deliveries, this is simply the next logical step to staying ahead of your competition.
5. Integration of drones and smart glasses
The introduction of drones and smart glasses is directly related to the previously mentioned aspect of last mile delivery. This is yet another example of how trends in logistics technology are connected and work towards a common goal. VR and AI innovations are giving logistics companies the chance to improve both flexibility and speed of delivery. Additionally, smart glasses are laying the foundation for error-free deliveries, with the application of:
- hand-free route searches
- face recognition software solutions.
6. Big data logistics and data analytics
As a general rule of any business, the more information you have, the better equipped you are to make the right decision. And with detailed data analytics and big data in logistics, stakeholders are able to do just that. Make an informed business decision based on a plethora of information about a certain product or service. Additionally, companies are able to use this advanced data to further their own business development goals.
7. Logistics Automation and IoT
This is where logistics 4.0 comes into the discussion, as one of the key logistics trends that is transforming the global supply market. Combine that with the adoption of the Internet of Things (IoT) and you receive the ideal tool to battle setbacks such as:
- transportation delays;
- operator errors;
- poor monitoring of cargo;
- outdated IT failures;
- thefts etc.
Digitalization is bringing many advantages, but also a number of concerns when it comes to cybersecurity and data protection. This is why many logistics companies, following the hacking scandals with Amazon, Walmart etc. are choosing a very cautious and safe approach to all this.
8. Elastic Logistics
This has become somewhat of a buzzword in the world of logistics. Logistics companies and the supply chain industry have been looking for a way to align their capabilities with given timeframes for years now. And the notion of elastic logistics offers just that. This strategy offers companies the chance to enhance customer experience, provide agility and add real-time visibility. Basically, it connects all business processes within different ranges and timeframes, which is why it is among the biggest trends in logistics technology.
9. Chatbots and Collaborative Robots (Cobots)
According to the Logistics Bureau, Chatbots that will help online buyers during the shopping, ordering and checkout processes are sure to become a major trend in upcoming years. Similarly, e-commerce giants such as Walmart and Amazon are researching the introduction of CoBots to their warehousing efforts. AI promises the ability of robotics to replace manual labor when it comes to packaging, storing and picking in warehouses and other distribution centers.
Final thought on the subject
As a company oriented towards development and digital progress of businesses, Movers Development understands the importance of new and exciting trends. You always have to keep the ball rolling, if you hope to stay competitive and interesting to customers. Focus some of your efforts on some of these trends in logistics technology if you haven’t already. It can only benefit your business long-term.