Guest Post: Top Trends in Logistics Technology to Watch
The logistics industry is not the same anymore. It is now a tech-driven progressive sector. Most logistic operations are automated today — from dispatch to returns.
On the top, eCommerce pioneers like Amazon are taking logistic automation to the next level with air drone deliveries.
And you are still stuck here with Excel sheets to organize your delivery routes!
Peeps, logistics was a $961.8 billion worth industry in 2020, which is projected to reach $1,701.2 billion by 2028. And logistics automation is a big part of this growth.
So, if you have a logistics business, automation is important to grow and make more revenue. However, there are several technologies available to automate your logistics operations. So, you might feel overwhelmed with all the options.
Thus, we have narrowed down the top logistics technologies you must adopt to grow your business.
Top 8 Logistics Technologies to Must Adopt
According to a Flexe article, 62% of shoppers said that delivery speed impacts their purchase decisions. In addition, 85% of consumers will look for solutions elsewhere when they don’t get fast delivery.
And for fast delivery, you need to strengthen your supply chain and distribution systems using technologies. Humanly, it is impossible to manage thousands of orders and dispatch them to designated locations within a day.
But machines and robots can do that. Today, all you need is the best technology solution, and you can automate your entire logistics business. You can generate leads, manage orders, and fasten up deliveries with technology support.
Here are the top logistical technologies that you must use:
1. Artificial Intelligence
Artificial intelligence coordinating with machine learning and big data has the potential to automate several logistics operations. AI is a big part of economic development in the foreseeable future. It is predicted that artificial intelligence will generate 97 million jobs across 26 countries by 2025.
In logistics, AI can automate several operations like demand fluctuation, recruitment, and so on. For example, warehouse AI tools allow companies to manage supply chains and maintain their assets effectively.
In addition, AI can help to predict market demand. This will help sales and marketing teams to promote their inventory based on consumers' preferences. AI can also handle boring administrative tasks so you can focus on important logistic operations.
AI is a competent logistics technology you need to run your business smoothly.
AI in Logistics Example — Coresignal
Coresignal is a data-driven recruitment tool. This AI-based software helps you find competent employees for your recruitment logistics business. This software trains neural networks to find suitable candidates based on your business requirements. It can also scan candidates’ preferences and skills best match your business needs.
(Image Source: Core Signal)
2. Cloud Computing
Artificial intelligence software demands flexibility and real-time data access. In addition, data management and security have become a big issue for companies that use AI technologies to predict and analyze solutions.
Therefore, you need cloud-based solutions to harness your data to support logistics AI. Cloud technology enables you to access and store your data with high-security layers.
With cloud technology, small logistic companies get the leverage to manage and access their data without establishing an in-house IT department. This will help to improve coordination, communication and streamline logistic operations. Especially if you run your logistics business remotely, cloud technology is essential for you.
Cloud in Logistics Example — Sage
Sage is a cloud accounting software to reduce data entry work. Using this software, small companies can automate their invoicing, receipts storing, taxation and other accounting operations. You don't have to add redundant data with Sage. This software will make it easy to manage your logistics accounts and create payrolls on time.
(Image Source: Finances Online)
3. Robotics
Incorporating robotics automation into logistics can speed up your supply chain process. It will also help reduce human errors and work beyond human capacities.
This doesn’t mean robots will take over human jobs in logistics. No, robots are here to perform mundane tasks that can improve your work efficiency. This enables humans to use their intelligence on other essential business operations like lead scoring, marketing strategies, etc.
Using robots like collaborative robots (co-bots) and autonomous mobile robots (AMR), you can relieve your workers from the task of heavy lifting and let robots do all the hard work. In addition, this will reduce casualties and workplace incidents because robots are trained to perform tough labor.
Also, you can use software robots to manage administrative work in your logistic business. For example, you can use software to find top accounts in your sales funnel to run account-based marketing campaigns on them.
Robots in Logistics Example — Canonical Robots
Canonical Robots is a Spanish startup company that creates HRC Cobots. The company designed robots that can work with human operators and run different operations in warehouses. These robots are trained to follow guidelines and work in harmony with operators. These cobots have 6 axle joints that work similarly to a human arm. So, you can use this robot to pick and place things.
(Image Source: News Electronics)
4. Internet of Things
Internet of Things Technology is shrinking the world. It is projected that 75 million devices will connect with IoT technology by 2025.
This technology is essential to streamline AI software, robots and other technologies in your logistic business. The Internet of Things makes your other business technologies work in synchronization.
For example, IoT sensors can tell robots when there is an inventory shortage in your warehouse. This way, robots can automatically pick required inventory from storage and place it in your warehouse.
Also, IoT will help to manage autonomous vehicles. You can pinpoint your delivery vehicle's real-time location on the map and project the right delivery time to your customers. You can better manage your business assets and enhance customer experience with this technology.
In addition, your supply chain process will become self-monitoring and self-evaluating with IoT.
IoT in Logistics Example — TrackOlap
TrackOlap is an IoT-based fleet management system. This software allows logistics companies to track their delivery vehicles on the road, geofence them and monitor speed and fuel usage. These sensors will also indicate to logistics managers when a driver crossed the given speed limit or entered the wrong location. Besides this, the program will provide a fleet management report, which helps manage the delivery system better.
(Image Source: Trackolap)
5. Blockchain
Blockchain is a decentralized ledger technology that can empower the logistics industry to grow and expand to a new level. This technology can help logistics businesses in several ways, like taking paperwork out of their hand, reducing delays, cutting fraud, and slashing costs in supply chains.
Moreover, smart contracts in Blockchain technology can support project clearance and acceptance. You can quickly collaborate with other logistics businesses and partners to grow your business with this technology.
Plus, Blockchain is the future of the monetary economy. Cryptocurrency is already empowering numerous financial institutions. So, by using Blockchain in your logistics department, you can reduce costs and obtain security to run your business operations remotely.
Blockchain in Logistics Example — ShipChain
ShipChain is a shipping platform that leverages Blockchain to provide end-to-end shipping tracking to logistics companies. The software allows all stakeholders to track the shipment in real-time. It also provides updates on delivery time using encrypted public ledgers. The shipment documents are also uploaded on the software to provide visibility and transparency to customers.
(Image Source: Enterprise Times)
6. Big Data
Big data is actionable technology that helps you improve performance management, warehouse productivity, and other logistic operations.
Big data is your own data. This technology only helps you collect data from different sources so you can make informed decisions to grow your business.
For instance, monitoring position in your fleet schedules helps optimize routes and delivery planning.
Big data analytics can also help you to optimize inventory levels, generate risk management reports or find high-quality leads based on your lead scoring system. Today, data is extremely important for businesses to sell and generate more revenue. Therefore, you should definitely invest in this technology to thrive in your logistics business.
Big Data in Logistics Example — UnboundB2B
UnboundB2B is a lead generation company that relies upon data to provide marketing qualified leads to their clients. The company collects data from different sources to help businesses connect with their potential customers. Besides lead generation, industry-specific data will help you design content marketing strategies to promote your business. In addition, the company uses data to optimize email marketing, appointment setting, content syndication, and more.
(Image Source: Unbound)
7. Elastic Logistics
Elastic logistics allow companies to manage their supply chain process during demand fluctuation. This technology enables logistics businesses to be upscale or downscale supply chain operations according to the market demand.
Elastic logistics helps companies to overcome challenges like overstocking, constraints in warehouses and understocking. With this technology, you can better utilize your company resources to acquire in-demand inventory.
Elastic Logistics Example — Shorages
Shorages is a Dubai-based startup company that helps small and medium-scale logistic businesses to find on-demand warehouses. It is the online portal where you can find warehouse facilities in your area. This is an elastic logistic solution to help small business owners to rent out warehouses for short-term demands and pay accordingly. It is an economical solution for small logistics businesses.
(Image Source: Shorages)
8. Warehouse Automation
As the name suggests, warehouse automation is a way to improve productivity and performance in your warehouse. It is not one technology. In fact, it is a bundle of technologies that helps to improve your warehouse operations.
Warehouse automation includes technologies like automated guided vehicles (AGVs), eCommerce warehouse management software, robotic picking, automated storage and retrieval (ASRS), etc.
Warehouse Automation Example — Addverb Technologies
Addverb Technologies is an automated guided vehicle to move goods around the warehouse. It addresses labor-related challenges in warehouses. It helps to move heavy goods without manual work conveniently. The company offers a custom Dynamo AGV supporting multiple guidance systems such as laser, inertial, wire, and magnetic tape. It reduces human interference in picking and placing things at different places in your warehouse.
(Image Source: Addverb)
Empower Your Logistics Business With Leading Technologies!
Automation is not a luxury anymore. It is a necessity for modern businesses to adopt the latest technologies to bring efficiency to their operations.
In the progressive logistics industry, automation is critical. Today, consumers are looking for fast and personalized delivery systems. In addition, eCommerce evolution has surged logistics businesses to adopt technologies to deliver fast and effective solutions.
All the technologies discussed in this post are futuristic and helpful. Thus, you can adopt one or all of the 8 powerful technologies to empower your logistics business.
That’s it for now! But, keep on following this website for more logistics industry updates.
About the Author
Sumeet Anand is a B2B Marketing Expert and Founder at Marveta. He helps brands and businesses generate leads with his top-notch content strategies. He has featured on various major media publications across the globe. You can connect with him on LinkedIn and Twitter.
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