Technology plays a vital role in the logistics industry. It has transformed businesses with several innovations within the supply chain. At present, industries have become more reliant on automation and have completely given up on manual interdependencies to further improve their operations and speed up delivery tasks.
The logistics industry has deployed technologies at different stages, allowing businesses to rebuild their strategies and serve a wider audience. Delivery management activities run through software that maintains coordination and bridges gaps between various teams involved in the whole process.
In this article, we will discuss the latest technology trends that contribute to the logistics industry and impact customers’ lives
Top 6 Logistics Technology Trends that are reshaping the industry
Technological advancements are making logistics companies more efficient and making businesses confident in their commitments. New tools have taken over manual workload to boost the quality of services logistics companies provide. Here are some of the latest technology trends reshaping the logistics industry.
1) AI and automation
The use of AI/ML allowed companies to automate several inbound and outbound work that would previously take several manual hours to complete. The use of artificial intelligence allows businesses to create adaptive models that can react to situations in real time and provide solutions on the go.
Automated logistics systems reduce the time frame for each workflow and ensure a faster flow of information, thereby,creating a more efficient process. Logistics tasks including carrier allocation, label generation, and tracking are automated to help businesses perform faster.
For example, Warehouse Management Software (WMS) and Order Management Software (OMS) are technological prowess that simplify supply chain operations and ensure that the inventories are well-managed and orders are tracked. This way, businesses can reduce costs, replace old stocks with new ones, and use the extra space in their storage facilities.
2) Robotics and advanced hardware
The use of robots in the logistics industry has changed hard work into smart work. Especially in warehouses, robots are being used increasingly to perform functions only deemed fit for humans earlier. Storage facilities now use robotic machinery to move products around in the warehouse, stick labels, and adjust space. This allows logistics companies to utilize the resources of the warehouse at optimum capacity.
Some popular examples include cube storage robots, automated guided vehicles, and drones. They can get your work done quickly with accuracy and precision. Online retailers and businesses can use them in transportation, picking and packing, load and unloading alongside delivery tasks. Robots are the only way forward in improving logistical efficiency.
3) Actionable Insights
Through the effective use of technology, businesses can receive valuable information about the performance of logistics operations. Merchants can access real-time data and insights of the order and the respective carrier information on a dedicated interface. This acts as a portal where orders can be seen and tracked. Also, actionable insights can be derived from several reports and feedback from customers.
These reports enable businesses to understand various aspects of the logistics operations, identify problems within the system, and resolve them. Such information is also used to create models for logistics operations that help develop efficient ways to perform functions.
4) Autonomous, self-driving vehicles
The advent of the electric car brought about opportunities for companies to develop advanced technologies and move towards a future that is free of drivers. Such technologies are now being used to revolutionize the logistics industry through autonomous vehicles.
The machine can deliver products to the doorstep of customers without the need for human intervention. Specifically, these moving objects are used to transport raw materials from point A to point B, covering long distances as well. For example, you can assign the movement of parcels from one storage facility to another or a loading dock.
They can get the work done in less than half the time required by a human. The use of autonomous vehicles ensures that deliveries are made using the most efficient route.
5) Real-time tracking
Visibility is important for modern customers. Consumer anxiety can be under control when information on the location and arrival of a product is shared. To prioritize this task, companies have developed advanced capabilities to deliver real-time information on the location of a product to be delivered.
Through the use of GPS and RFID, the location of products can be traced easily without the need for manual checks. Tracking also allows businesses to resolve problems with shipments such as stuck shipments. When an eCommerce shipment is stuck, tracking helps identify where the product is stuck and the reason for it can be resolved quickly.
Logistics companies offer milestone-specific information through tracking updates to customers awaiting their parcels. This not only helps brands gain customer’s trust but also allows them to be prepared to receive the order in their busy schedules.
6) API Integrations
API integrations have fast-forwarded the dynamics of the transfer of information between different parties. Through integrating with various systems, companies can now freely share information without the need to manually transfer data & without compromising security.
Such integrations allow businesses to interact with the different systems through a single interface. Without having to manage multiple solutions, a single platform can be used. Different API integrations help in creating orders (generating waybills), canceling orders, returning parcels and reverse logistics, and managing NDRs.
Companies can use API-enabled data to maintain interactions with suppliers, applications, carriers, and customers. Some key benefits of shipping API integrations include automated tasks, enhanced connection with internal teams, security, and a standard layer of communication, maintenance, and development.
Final thoughts
Logistics companies are evolving at a rapid pace and one of the reasons for that is technology. As more people are adopting logistics tech, the requirements of society are changing.
Demand and supply are critical, and opportunities for companies to deliver high-quality products are massive. Upcoming trends and advancements will influence industries and create avenues for growth.
It will affect the logistics industry and the industries that it serves. These trends above will assist teams in complex problem solving and empower businesses both locally and globally.
