Logistics Industry Trends You May Need To Look Out For in 2019
The logistics industry is evolving at a rapid pace while providing the corporate supply chains with both opportunity and risk. We cannot forget the time when issues like a healthy GDP, government regulation, and natural disasters brought a new challenge to this industry and it had to find some better ways to deal with those challenges. This led to the emergence of several new trends and if you have anything to do with this industry you ought to keep an eye on such issues. To make things simpler for you we have enlisted some of the major trends that will transform the logistics industry in the coming year. Here we go:
Big Data: This one has been a buzzword in the last decade and anyone who wishes to make it big in this game will need to find a way with big data. As a logistics service provider, you will need to deal with the behemoths of this industry like Alibaba and Amazon. These firms have been redefining the arena of supply chain management. You need to develop an understanding of what value big data holds and how it can be used for transforming your operations and get an edge in competition.
Supply Chain Analytics Platforms: If you have ever attended a supply chain and logistics event, you must have realized the competition and issues faced by people in this area currently. All firms are now agreeing that data is the key to solving all problems unless you find a way to analyze it you may go extinct. If not, then it’s high time that you start looking out for a supply chain analytics provider who can work hand-in-hand with you.
IoT: Internet of Things has been a big trend not only in the logistics industry but lot many other fields. How it can be used in logistics? Simple, you need to find a device that can be placed on all your packages, shipments, and containers to get real-time data. It will keep you updated more efficiently about supplies reaching end consumer and the collected data can be used for further optimization in near future.
Artificial Intelligence: Almost everyone is talking about it and in the logistics department, it can be used for redefining backend operations. You see, logistics is a pretty old industry and very little has changed in the last few decades. AI can change a lot by speeding up the processes, eliminating inefficiencies and best by bringing down the overall operational cost. Too much has been written about its application in supply management, all you need to do is Google it.
Machine Learning: AI and machine learning go hand-in-hand. Machine learning is nothing but a subset of AI. AI cannot be developed without machine learning. There are so many real-life experiences that can be learned and applied to logistics through AI and machine learning. You will get the idea once you do some homework and start thinking some smart ways to solve your problems.