Top 10 future technologies for Logistics
29 Apr, 2020
Top 10 Technologies & Strategies that will change the Logistics sector in the next 10 years!
Logistics and Supply chain sectors depend a lot on newly developed technologies for improving the overall efficiency. Data regarding almost every stage of the chain is stored in different places. These data are very essential for the development of these industries. Therefore, these industries seek constant updates in technologies for their betterment and consistent performance.
Another major reason why logistics is heavily dependent on these rapidly evolving technologies is an increase in customer demand. Customers demand faster and cheaper and more effective services and products. Therefore, the following are the 10 most popular and important technologies the logistics sector must follow.
Artificial Intelligence and Augmented Intelligence
Over recent times, AI has been used for various operations in the logistics sector. AI can be used in Route planning, transportation and resource planning to make it more efficient. AI is also being used in optimization tools and to find sustainable solutions.
Augmented intelligence is used to combine AI along with human intelligence. Augmented intelligence helps workers to do their jobs faster and in a more effective and time-saving manner. It also reduces expenditure.
Any product never resembles the image displayed on the computer monitor. Using this technology, all physical and digital aspects are considered and we can display exact images and details of a product on the website for customers to view them.
Digital twins help collect data regarding products and packaging and can effectively improve operations for future use. This technology is also used by delivery models to improve delivery times and can even provide real-time information.
Real-time Supply Chain Visibility
This feature allows real-time data to be available to the industries. These data include weather, traffic conditions, road condition, etc. which are very essential to plan better and optimize routes for transport.
IoT sensors are very useful when it comes to tracking various shipments. IoT devices can be used on parcels to enable efficient tracking of inventory, vehicles and tools. Moreover, the management process is through real-time tracking and effective preventive maintenance. This helps in increased fuel efficiency through better optimization.
Blockchain is a series of transactions which are shared by a given number of computers connected to the same network. As there is total transparency, there is no possibility of hacking or cheating. It is easy for shipments to effectively share all sensitive data. Companies need to form a system of Supply chain and logistics partners and share the common blockchain environment.
Data Standards and Advanced Analytics
There is a lot of Data involved in the logistics industry. Companies store their data wherever they need and it is highly scattered. This had led to a lot of inefficiencies. Data needs to be segregated often and stored safely to enable efficiency.
Many new startup companies have brought-up many ways to organize the way data is stored. They have created advanced predictive analytics platforms which help bigger industries organize their data which can later be used for advanced analytics. The services include predictive maintenance, demand forecasting, supply chain visibility, etc. Data segregation enables businesses to work efficiently.
Investments for Startups
Many developed industries have started investing their money and are encouraging new startups. They are investing millions of dollars to fund new technologies these startups are working on. Many companies even look forward to developing their technologies in-house. By doing this, Logistics companies have two benefits. One, they can grow and expand their capacities and business. Two, their R&D work is also done by their startup partners in a very effective way. This partnership has proven to be very successful in many industries.
Powered by Sustainable Technology
Many companies have moved from electric vehicles to AI software which effectively helps to calculate shortest routes and help reduce emissions. They thus reduce the impact on the environment. The entire shipping and logistics sector has started investing in Smarter logistics technologies. This is made to ensure the whole logistics and Supply chain industry adapts to sustainable means of operations.
Logistics industries are starting to use self-driving trucks to improve service and efficiency. It is very important for fleet maintenance. Employing Autonomous vehicles reduces maintenance costs and also is very effective in reducing the workload of professionals and technicians. It is one of the most highly sought-after trends in the Logistics industry at the moment. If implemented successfully, the efficiency of Logistics industries will improve for sure.
Robotics in warehouses
Warehouse- robotics is a fast-growing field. Companies have started investing in robots with long reaches and powerful vision systems load and unload trucks and move boxes throughout the warehouse without the need for any human intervention.
Robots can significantly improve speed and the overall efficiency of the whole warehouse process. With the use of Machine-learning and sensors, robots work with extreme accuracy and high efficiency. Robots can be for multi-functional purposes or even for driver-less vehicles.